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Michael Well said: FRESH START Going to try my mechanical trading system. See if I can stick to the rules. Starting capital $5000 like I would with real money. Only in TOS paper money. See how long it takes to double it?:mad: Long options only, short term trading. I literally...

Trading Journal Chinese agent request Guys name is DAVID 360826221@qq.com Just replied to a request for some technical information at this address. Not sure where I have his mailing address?

Micheal and TJ and anybody else following. I'm trying to be brutally honest with this reporting. Won't do anybody any good otherwise. I went from a WINNING STREAK to a LOSING STREAK this week. The biggest loss was that darned simple mistake I made with the credit spread. Since I...

Michael There you go, traders gambling addiction recovery re-hab. You ever think the reason why most people don´t post on here, is because they are losing money? :mad:

Cayo District. On a hill up from Santa Elena Town. Have properties on Caye Caulker also in the family. Little Switzerland of the Americas - grin - Maybe we'll make it a financial powerhouse too. Or a traders retirement home.

Michael Well I finally closed out that Credit Spread that I put on by mistake in the monthly instead of the weeklies. The loss wiped out two months profits. Think it was about $13,612 I lost on it. Will know at the end of the day. Shold have done it immediately I made the entry mistake...

TJ in response to your question. AGENT IS IN CHINA Guadong or someplace. Got shipment of nylon twine coming in from him and been trying to get different products, or parts to assemble here in Belize, Central America.

I wish I knew how to forecast those market jumping gaps as a directional. Nice jump this morning, but I have no way of forecasting such a thing reliably.

Michael I think your decision is right. I´m going to close out that monthly I put on by mistake last week in TOS. It is going to cost me money though. Another lesson. When you make a mistake, get out and take the loss immediately. Aaaah well! Thanks for the feedback on those debit...

I guess you would say I was doing a diagonal straddle in debit spreads both in calls and puts. Index was at 537.78 PUTS DEBIT SPREAD 5 contracts buy 5 - 535 @ - $8.40 5 contracts sell 5 - 525 @ + $4.70 Net debit of - $3.70 Close the spread. Index now at 540.21 PUTS 5...

Can somebody tell me what happened here, profit or loss wise? Index was at 537.78 Put on a DEBIT SPREAD in CALLS buy 5 contracts 540 @ - 7.50 sold 5 contracts 550 @ $3.10 For a net debit of - $4.40 The index went to 540.21 I closed the DEBIT SPREAD in CALLS sell 5 contracts...

Elite Trader I was not thinking of a two or three month credit spread for theta. More of a positional move in direction and buying it back at a cheaper price. Still not sure how that works. Found a credit spread calculator online, but it wouldn´t let me change the index to see what would...

Micheal I don´t really know. I´ve been looking around here for somebody on the internet. I suppose in a directional trade using a credit PUT spread you would be trying to gain intrinsic value in a trend. I´m not at all sure how it would work in reality. It´s 3 a.m. on Monday here.

Michael Lets suppose you are trading 3 month out options and spreading a trend. What would be the result of the trade after closing it out I wonder in percentage gains. If your friends, friend has those numbers I would like to hear them. Save many months of trial and error to do the same...

Yes the trends, both bull and bear are more obvious on a 2 year chart using weekly bars. The indicators are straight forward. Once you have started the trend, you can set a credit spread, above or below the start and comfortably sit on it, until the trend quits, I would think. Then take your...

Real cash does change the way you trade. Been there done that before! You can´t treat reversals and false signals with the emotional equanimity that you can paper trading. Real cash losing fears distort the game plan. LONGER CREDIT SPREAD TRADING Michael I´ve been thinking about...

Michael I´m up $11,000 since my credit spread loss of $20,000 or so back three months ago. Went up from $82,000 to $93,000 thereabouts. I hadn´t thought too much about trading $100,000 for start up. Still going to start with a minor $5000. Probably trade only buying LONG OPTIONS and...

Unless something drastically happens in the last hour and a half, my week was pretty good for me. Long option buying short trades $ 14 $ 964 $ 114 $ 864 $ 464 ===== $2420 for the week in long options using Nov. monthly. 20% return on capital ( $12,000) Credit Spread $...

Michael I used to use Option House. They are supposed to be cheap. They dont give you the best prices though like TOS. One set of credit spreads in TOS is $1120 and that is each way. _For your 350 contract lot. So round turn you are looking at $1140 is my guess in TOS. The...

Well the ads have been predicting a BEAR MARKET in a couple of days, or next week. What we have is a pennant, or flag formation forming, so we are going to get a break out, one way or the other on Monday is my guess. This is still an intermediate uptrend in the weekly bar charts though.