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That's just one rule of many that puts you on the path of the perfect rule. You can have many 2%ers that don't work. It doesn't make it perfect, but it's a good start :)

Today, your rule may work because the market is non linear that day, and tomorrow his rule may work because the market is linear for that day, but whose to say the rule of 9.25 won't do better than the rule of 12.75 . At the end, the market always rules both of your rules :) 'cause no one has...

I tried them and discovered that you can't trade in penny increments on SPY options when their price is => 3.20 . Also slow platform. Perhaps they'll improve in the near future.

Filled at 1396.75 and stopped out on entire 1395. Well, tomorrow is another day.

Stopped. :( Long limit on 1401.75 Filled. Will add more at 1396.75. Stop at 1395. This will be my last trade for the day.

1406.25 filled. 1408.25 is my average now. Moved my Target down to a more realistic 1412. 1405.25 is currently the stop on entire position.

Oh no. You're scaring me with your MA crossover!! I better run for the hills. :D

I'll be happy if I see 1420 today. At least that's my target on this daytrade. :D

Thanks blaster1, but it's meaningless if I don't make money on it. :(

Long at 1410.25 . Will be adding more at 1406.25 .Stop at 1405.25

Stopped at 1410.75

Targeting 1402.00 as my exit.

I hope it exceeds that slightly, so I can get filled with some more at 1409.5

Short at 1407 , and adding some more at 1409.5, with a stop at 1410.75

This is making my head spin. Nobody wants to admit that they're wrong. So I'll tell you what, you're all wrong and Mr. market is always right. Whether theoretically your arguments are correct or not, the market doesn't care. The reason why the market wants to price otm S&P puts higher than the...

Thanks for the clear, straight to the point explanation. Well done! More posters like you are needed to neutralize all the BS that is injected into this site on a daily basis.

Sell limit sitting to short at 1412.5

Target achieved. 3 for 3

Stop moved to 1408.00

I'm risking 9 points on this trade which is 1 point more than the amount I made on the last 2 trades, and looking to add to it at 1417.00 - 1 point lower than my stop.