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That trade your referring to with the SPY April 141 calls got stopped out at 1.11, which was -40% under Buy No. 1 (bought at 1.85). You have draw a line in the sand somewhere and my maximum beat-down I will take is a -40% drop below Buy No. 1. However I am in another call trade...

New system trade: Bought April 140 calls at 1.25 (filled) Sell Limit: 1.75 (+40%) Stop: 1.00 One Buy Trade Only, which means I am all in with a full position. Reward to Risk: 2/1 +.50 / -.25

__________________________________________________ The new system finally took a big hit! "I guess the system couldn't read the news yesterday about the Fed having no new plans for additional stimulus." Attached is updated results.

I consider this new call trade in my last post riskier then most, because the SPX already broke to new highs yesterday, so the market tendency might be a stronger pullback then this mornings wimpy dip (see attached SPX chart).

New system trade: SPY April 141 calls Buy No. 1: 1.85 (I am filled on Buy No. 1) Sell Limit: 2.40 (+30%) or if it tanks before hitting sell limit then Buy No. 2: 1.40, then sell all at 2.00 Stop: 1.11

Falcon, My normal buy level is approximately $2,000 maximum divide 2. In other words, $1,000 is devoted to Buy No.1 and something less than $1,000 is devoted to Buy No. 2. Today I bought 6 contracts because the account is growing and justified an additional contract ($1,200 per Buy No. 1)...

Falcon, If you can open the excel spreadsheet you will notice a heavy yellow line below the date 3/8/2012. (Everything above the yellow line from September 8, 2011 to March 8, 2012 (49 trades) were back-tested paper trades.) Everything below that yellow line from signal date...

________________________________________________ Buy No. 1 April 140 calls bought at 2.00 this morning sold for 2.60 +30% (see updated excel results). This new system is totally amazing to me! "I am actually shaking a little from these last 6 consecutive winning trades." (Remember...

Falcon, Many years ago when I was looking for an alternate index or etf to replace the OEX index, I tested both the SPY and QQQ etf's. I found that the SPY highly outperforms the QQQ. Think about this: The Nasdaq has to move 45 points for the QQQ to move 1 point. The SPX only has to...

Falcon, My Signals are based on mathematical formula's and I do have a call signal for today. "But" even looking at a simple candlestick chart (see attached chart of SPX): 1: The SPX is in an uptrend (higher highs and higher lows). It then pulled backed for 3 days (March 27, 28, & 29)...

Buy 1 of SPY April 140 calls filled at 2.00, sell at 2.60 (+30%) or if tanks before rising then Buy 2 of SPY April 140 calls at 1.50, sell all at 2.10 Stop: 1.20

____________________________________________________ Its Friday the end of Q1 and the kids are off on Spring Break and want to go somewhere, so I closed this trade early today at 2.25 (Buy 2 X +40%= 2.25). (attached excel updated) So far the 5 actual trades below the yellow line are...

The SPY hit the mutha (pivot point = brown line), but so far hasn't held (see attached 5 day SPY pivot point chart). My SPY option trade is coming back from the dead and is more than half way there. I hope tomorrow doesn't open with another gap down open.

FF, That trade would have cost you 10 X .50 = $5.00 commission with IB. USD 0.05 =< Premium < USD 0.10 USD 0.50 per contract Your eating a lot on this cheap option trades to excess commissions.

Any bets that the SPY makes it up to the Pivot Point (Brown Line) by the close today? (see attached 5 day chart of SPY pivot points)

Its amazing how bullish traders are. Even with 3 consecutive down days, the VIX has only moved 2-3 points up! (see attached 5 day VIX chart) "There just isn't any fear in the Bernanke backed market."

In the past 12 years I have developed 6 different mechanical trading systems by back-testing them with Index and ETF data. You can improve a system if you have enough data (minimum 2 years) to confirm your improvements. "But," even after developing ideal systems, they still seem to have a...

I am deeply buried into a new mechanical trade: Buy No. 1: SPY 140 calls at 2.15 (filled yesterday) Buy No. 2: SPY 140 calls at 1.60 (filled today) Sell Limit: 2.30 Stop: 1.29 I got a feeling that this one is probably going to lose.

Hi, This month I started using a new SPY option trading system that I would like to post live on this journal. Attached is the results of this system since inception. Trade No. 1 through Trade No. 49 are "back-tested' trades using accurate SPY data that had been used in my previous...

I really hate trading calls again the day after a 20 point move up, but how can I doubt a system that's appears smarter then myself? Will the next few days follow the same pattern of March 13 thru 19 on the attached SPX chart? Any thoughts?