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Considering opening a position of SH (short SPY) depending on what price does in the next few days. If price is going to go down, there's no reason I shouldn't make some money on it while I'm waiting for it to go back up to my target profit (or at least get close enough where I can sell some...

Agreed. There were so many options that came to mind: Fade Jack Hershey in a trading contest... profit! Fade Woodie's CCI nonsense... profit! You don't even need to look at a price chart to do this one!!! :eek: Fade Rockwell trading's calls... profit Fade what's-his-names ergodic...

I do believe you completely missed the point of my post. This thread is a journal for gotta_trade to develop a trading plan and then trade/fade it. He's going to choose a trading strategy from Larry Williams' books, videos, and seminars, and then fade that Larry Williams strategy after he...

In post #4 you asked "who?"

This is pretty much one of the worst threads I've ever read on ET. gotta_trade: I'm going to fade a guru. What do you think will happen? I wonder which guru I should use. other posters: (suggestions of gurus) gotta_trade: I was thinking Larry Williams. other posters: So you're...

Thanks. What are the chances of a ITM option being exercised at expiration? In the event that it doesn't get exercised then I can keep the premium AND sell the shares myself right?

There sure is a lot of nonsense discussion in this thread. When you said fade a "guru" I immediately thought of Woodie and Rockwell trading. This guy makes a pretty convincing case that the Rockwell system is not profitable...

Say I bought 100 shares of QQQ @ 50 back in the day. That cost me $5,000. Today QQQ, closed at $56.85, for a total value of $5,685. Let's say I'm done with my QQQ position. I could sell it and make $685 minus commissions. I'm wondering if I could make more money selling it with...

this forum needs to change its formatting so that when people post huge images, only that post gets extended to the right and not every other post in the thread. I mean, I know everyone here is a trader with huge monitors, but for those of us with regular sized monitors, we have to scroll...

I want a program that will make those charts. Is that free?

Yes. No. My "looking at historical volatility" involves pulling up a 1 or 2 year chart and seeing how much price moved around. Am i doing it wrong? Good thing I know about elitetrader! :D

This is what I'm anticipating. I have a huge library of trading books, 99% of which are worthless. Every trading video I've seen has been a disappointment. I have wasted hours and hours watching them over the years. The only benefit books really gave me was in the very beginning when...

I am mad noobish :D Been trading stocks for years, futures for over a year, and been learning about options for like a week.

Two similarly priced stocks may have totally different option prices, so I'm wondering if this data can somehow be used to discern certain information about stocks that people who don't look at options would not be privvy to.

And price wasn't where I wanted it to be to sell the calls, so I didn't sell any, and now I wish I did last week because price is going down nicely.

Cliffs notes on this?

Oh. I use Scottrade and it's like $7 + $1.25 per contract or something. So I was like, wtf selling cheap options?

How do you make money selling these like 3 cent options? That brings a premium of $3. After commissions you lose, even if the option is never exercised?

the premiums on QLD options are large, but the vol is low. I'm wondering if I should be using the weighted indexes instead of the regular indexes. Usually I trade QLD and DDM instead of QQQ and DIA. But I usually trade SPY and have never used SSO or UPRO. When using options is there a...

I don't know much about EW but I hear it's pretty awesome in hindsight, although you cannot predict when each wave will end in real time, so it's basically as useless as MACD or any other indicator.