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an option is a contract to be able to buy or sell something at a specific price. because of it's flexibility, it comes with a premium. you can either buy or sell options. Theres 2 types of options, calls (means you think it's going up) and puts (down). options are limited risk vehicles...

commisso, I wasn't net short into the May 7th close. I was net long via an option spread. I exited on the open for a profit. If you don't already understand my strategy or signal, i'll just take a few words to explain it. I get a gap up signal, I go long at close. If it gaps up, I...

only 1/16 of daytading capital. which is only 30% of capital. So it's probably more like 2% of entire capital on the initial option spread.

dis, firstly, i'm talking about what I made on capital i used on the trade. Secondly, i'm using options and futures, which are way more leveraged than QQQ stock. Third, if you analyze how i've implemented this strategy, you'll see that I go into a gap with an option spread. So, I sold...

I only use a total of 1/8th of my daytrading capital on this play. That doesn't include money in the bank, money in other ventures, or money in longer term plays. I start off risking, 1/16 at the close... if it goes my way, thats all i risked. If it goes against me. I risk the other 1/16...

the problem with playing the gap with options is that the gap is sometimes too small for them to move... add premium decay and today's open sucked. next time, I will hold a combo of nq's and qqq options. i basically sold fridays spread @ a marginal loss. no gap on tomorrows horizon that...

use profit stops once you hit your profit goal for the day. I do this all the time... If my goal is 1k and I make it, I will set a profit stop @ 500 dollars. Then you can trail that stop as you make more money. Another way that I've heard of is that once you've hit your profit goal, stop...

so obviously there will be way way way more short trades. I have a bias and it changes from month to month, week to week, day to day, minute to minute, tick to tick, depending on what time frame I'm watching. theres no such thing as an objective daytrader. As soon as you put on a trade...

what name u go by on paltalk? i go by name burfi. I traded with some guy Mar*****, he's a legend.

Invest half of it in stocks.... some long term stuff you like. And every month, sell out of the money calls. Your guaranteed to make the premiums every month. Then when an option almost closes at the money, don't sell any more calls for that stock, because it is likely to keep going up...

some of the formulas and logic on this thread go way beyond 1st grade math. :( i guess i should stick to drawing lines on charts and connecting the dots. :D

I don't have time to watch these posts throughout the day, but i'm just wondering.... is Seanote posting this stuff in realtime? cause if he is, I am going to make time to watch this thread during the trading day.. :D

looks at my journal for last week, thats living proof that the markets are predictable. There is a mathematical formula for every days high and low. just cause u can't see it, doesn't mean it isnt there. :p and it doesnt mean no one else can see it. :cool: open your eyes :D

If you want to be long and short at the same time, it would be wise to stay away from stocks that follow the rest of the market. I've found that the cheaper the stock, the more likely it will move based on it's own fundamentals rather than what the overall market is doing. edit: this would...

- the randomness in the market can be seen as perceived value - the organization in the market can be seen as how the perceived value adjusts to real value (when its revealed) sometimes perceived value is way off sometimes it's right on. why did the naz go to 5000? because that was...

I will be putting on a QQQ option Spread at the close, with a 2/1 ratio in favor of calls. I think we gap up on Monday. Cya'll monday!!!!

everything that I or anyone else comes up with will be based on the past. Whether it's stochastics, elliot wave, gap patterns, level 2 - it's all based on what you have seen it do before, or how far back you've tested it. thats why it's all about statistics and luck. the difference...

This has been my experience with the gap play... If i'm not right in guessing the direction, it always comes back to breakeven level. And since I know this, I can double dip and make a killing like I did today.

sold my yesterdays QQQ calls when NQ hit 1150 for a very minimal loss, overall the whole gap play was a huge success... now to look for the next play.

I remain bullish today and I hope to sell my calls from yesterday if we reach yesterdays lows. If not, i'll hold them since the cost is only pennies compared to todays profits. Because I'm still bullish, I'll probably scalp NQ long intraday. I think that we could get a higher high on Monday.