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Man this thing is dumping off fast. This is not looking good for the markets right now.

I was seeing signs of reversing on Friday as well. Didn't know if I was correct though. I wish you well on your quest this week.

Yeah, The chart from friday was a little different in that there are several levels very close together that don't provide us with at least 2 points. Therefore the safe play is to wait and see if it goes up to 1334.50.

No, it relates to the reversal shown on my chart.

No poblem. You caught me doing some charting. Gotta be prepared for tomorrow.

Thanks, feel free to use this as you see fit. I hope it helps you some. Here is you chart with explanation. Just remember it is only an opinion though.

I totally agree

I wish I knew the answer as well. We are not supposed to trade with an ego but when we are not in a trade maybe we need that little ego stroke. If your wife is like mine you probably don't get much support from her. So maybe we flock to be where others like us are.

Good job. That long doesn't look like it would quite get us the 2 points. In fact there are several small levels on the upside that make it kind of difficult. I want to see them all get taken out before going long. The short one however appears to be pretty good at 1320.50. Here are my...

Princessa, The only problem with goog is that the underlying stock is so expensive. I guess maybe I should have been more clear when I said about a 4 dollar move. Let me say about a 10% move instead. This is a technique for big moves that is another reason I usually give it a couple of months...

Here is why I like to use Bollinger Bands for options. The greeks let you know all about the volitility and the decay of the option contract. While the BB's are really spread out volitility is high and so is the cost of the contract. When the BB's are tight the volitility is low and so is the...

Yes, I wish I was that example. But you are correct

Once again the idea of taking a larger position for fewer points comes up. It just seems to me that this tends to work very consistantly for the emini. It is also a very low stress technique which is very dificult to find in trading.

I have read about this also. Never traded it but I could see on a range day how it would work.

No! account building :p

Thank you, Now all those tools that I mentioned are just that. Tools to help me decide while in a trade or right before whether I am going to get my 2 points or whether I settle for less. My typical trade probably 90% I just sit and wait for my S/R numbers to hit take it and either win or lose.

After thinking about this a little bit you can call this decretionary. Anybody who thinks that they can just use one technique to enter and exit their trades are going to lose this game. A trader is going to have to learn and use many tools in order to win at trading. Tools that I have and...

Since I have a trade going on with the Q's right now it only makes sense that I watch it also. Sometimes you just notice patterns that both are forming. Don't think it is decretionary but yes, experience is key. Also why every trader has to manage their own trade.

One very simple strategy for options if you don't know all the greeks and just want simple but effective. 1. Find a stock that tends to make big moves. Like 4-5 dollar moves at a time. 2. Wait for the bollinger bands to get real tight 3. Do a straddle or strangle on it. Where you buy the...

Thank you Screenstruck, I know Global offers Ninja.