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You can take the money out of your account assuming you are not on full margin. The call is protected by the stock for upside issues of the stock rising. However, one you take out the premium, you no longer are protected against downside risk. For example, say you sold an out of the money...

Ok, thanks....

I was wondering the steps you use to backup ninjatrader including my indicators, etc. I want to back up everything and then install ver 7 when that is ready, but make sure that I don't lose anything so that if I have to go back to 6.5 there will be no problem. Also, I want to do this for...

1) Do sleep during the market if you are tired. There are trade signals all day long better to have a refreshed mind. 2) Have patience, once you take a trade, it can take hours to pay off and hours to wait to get in. 3) Use sim to develop your ideas, and real money to test them. Know you...

Was able to catch 1.75 points of the long rally. Could have gotten the full 2 points, but very happy with the trade. My system told me to go long, went in long ASAP. I then took a shower and when I got back was out of the trade at a profit. I like it when the market moves fast and you...

Do you use any kind of stops? For example: 1) Hard emergency stops? 2) Price tells you when to stop out? 3) Actual pre-placed stops for the trade? 4) Amount of draw down for day?

Keep a chart of all your trades in excel. This should then allow to then run calculations like win%, number of winners and number of losers. This can also tell you total profit amount and total loss amount. It can also allow you write thoughts next to your trades. I usually will...

Have a good vacation. I would recommend to avoid stress when you get back, for 1st day just sim trade until you build back up your confidence in your system. Treat sim as if it was real, 1 contract for es or whatever you would do in real life, with your real stops and targets. You can also...

Made $ 100 trading the es today. I am a more of a late day trader so missed the reports. I already stated and I have seen other traders that go flat until AFTER the report comes out. I see no reason for you to be trading before a report, you are gambling not trading. There is no leaking...

I did good today. 1st trade was a long that I averaged into since I got long too high, and killed around break even. 2nd trade was a short using my system and I got 2 points. Market was range bound this afternoon. Easy to see afterwards but I was at least able to trade it.

Not easy to trade today, we get a HH breakout to 1038, then in same day we get a LL to 1024.75.

How many legs does an up move or down move normally have. For example, is there a > 60% once we get either a down or up leg of a continuation leg for those that have traded futures longer than me? Also, do you think the market is going higher now due to some shorts getting stuck in their...

A bad trade is one where you are moving the stop away from your 1st place either mental or hard stop. Averaging down is fine if that was your plan to begin with for example you planned to invest 400 shares in MSFT, 200 now and 200 more if it drops 2 points. However, if you invested 400...

I wonder something, lets say 10% of a stock is shorted. The stock goes down 5%, so the long holders are down at least on paper and could be real losses when or if sold. So now the 10% of the float that was short is now up on paper and real if they cashed in. But in truth, the shorts did...

I guess if you traded long today, it could have been shorts who were short a lot lower thinking the market could never rally this much. Or maybe you beat a bot.

I guess its up to the trader, but certain news events, I will not trade since stops will not be honored. However, on forex trades, I used to do a hedge trade ie going short one and long similar to what you are talking about bracketing but with 2 different currencies the EUR/USD and the...

I had final resistance at 1029, so no short at 1027 for me, of course we still could go to 1029, then I may short if we get confirmation. At 1022, I saw a signal market may go higher, but of course with it so high already, I did not go long. I did not go short at 1022 thankfully since I had...

This really seemed a perfect day to be trading. Saw 3 trades, all profitable. Took one short with real money, one on sim short, and watched one that I should have at least put on sim long. ES made a bull flag move up today. I actually scalped against the long move, but missed out on taking...

The market can stay irrational longer than you can stay solvent.

last one...good to trade with.... http://www.youtube.com/watch?v=Ymd_P36f5QE