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This is good stuff, thanks alot! BTW, when do you sleep? LOL

OK, let's talk mechanics here. I have only 1 account at IB and you have at least 2 accounts at IB or somewhere else. How do you quickly manage positions in 2 accounts without loggin in and out of accounts all day? Sorry for the naive question. It's probably very easy at IB and elsewhere, I...

Didja get those 10 points TraderBS?

Being right is so nice, but why can't I seem to make any money??? *sob*

Now that's kind of funny about ES. I've heard that there'd be a great pissing and moaning if they changed the ES tick size. Apparently some folks are making money faster there with things like they are.

Is that pretty typical in your opinion? I guess I could back-test it but I'm feeling lazy.

Here's my understanding of what's going on (please correct me as needed MacroEvent). I've seen similar approaches in FOREX: You can't be both long and short on the same instrument in the same account, hence 2 accounts, one for long, one for short. Note that he has more contracts at his...

Maybe someone else can jump in here since I don't short stocks. I'd rather buy a put on an optionable stock since there's no uptick rule and the risk is limited.

Man, I really had my heart set on seeing Jim Cramer testifying before Congress.

Wow, all the articles I've read about TICK recently have said that 1000 is overbought. They're right. I was always afraid of counter-trend trades but using TICK gives pretty good guidance on when a trend is topping or bottoming at least short term. I watched as TICK pegged above 1000 and...

I've been watching TICK this morning, seein how it reacts at support and resistance on ES. For example, price action approached a resistance level, got very close, then suddenly the TICK started to drop from around 500 to about 150. *Then* the price fell. I'll need to see this over and...

I vote for Jim Cramer as he'd be way more lively than ole Greenie. LOL

Here's a list of all shortable stocks on IB today: http://www.interactivebrokers.com/en/trading/ViewShortableStocks.php?cntry=usa&tag=United%20States&ib_entity=llc&ln=

Watch it with stops on ECBOT after hours! ECBOT has native stops, but IB doesn't support them yet. They use a simulated stop that is only actually active during normal trading hours. So simple stop orders on IB after hours on ECBOT won't work!

All I was saying was that if you buy an option with high IV then you run the risk of IV collapsing. IV could have been unusually high due to keenly anticipated news on the stock. When the news is out, the IV collapses and suddenly the long holders of these options take a loss, even with no...

I agree with you there, but the thing about high IV options is that you pay a high premium to be a net buyer. PEET was kind of in the middle in terms of "cheapness". I guess by buying shorter term options, most of the time value is gone anyway, unless the stock is hyped for other reasons...

Multi, you alluded to buying front month options that were 1 strike ITM (true?). What other characteristics are you looking for? Historically low IV? (i.e. low time value = cheap)

As I said, I trail the stop. I've only hit the max loss of 10 points twice. Usually it's 6-7 points loss. If I didn't trail the stop, my hit rate would probably increase to closer to 80% but I haven't tried it that way yet. I do in fact take commissions into account. And yes, the...

Interesting. I've been playing around with a 5 point TP and a 10 point trailing SL at support/resistance/trendline. I seem to be batting around 70% in simulated trading. Trade durations are typically < 5 minutes, but with the ATR on 5 minute bars running around 10-15 points, it's no surprise.

Beltway? Baltimore or Washington?