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Day 14 February 24, 2006 Open P/L +$112 Closed P/L -$279

Day 13 February 23, 2006 Fills Sold 1 ZNJ6 108 Call @24 (to open) Sold 2 ZNJ6 107 Puts @11 (to open) Open P/L +$31 Closed P/L -$279

Day 12 February 22, 2006 Fills Sold 1 ZBJ6 114 Call @33 (to open) Sold 1 ZBJ6 112 Put @23 (to open) Open P/L -$31 Closed P/L -$279 Notes: Took a little longer than expected but I'm up and running again with IB. Wow TWS is like night and day compared to the platform I had to use...

I'm looking for a direct-access futures options broker who has reasonable commissions, a good trading platform, and trades ALL markets (electronic and pit). Any suggestions? I've looked into: Interactive Brokers PFG ManFutures Dorman Trading Farr Financial ProActive Futures...

Day 11 February 1st, 2006 Fills Bought 1 USH6 115 Call @8 (to close) Open P/L $0 Closed P/L -$279 Notes: All positions are now closed, there won't be any further updates to this journal until my account is transferred to another broker. Hopefully we'll be back in business in about...

Day 10 January 31st, 2006 Open P/L +$171 Closed P/L -$513

Day 9 January 30th, 2006 Open P/L +$187.50 Closed P/L -$513

I'm with most of the other respondee's. My plan is a set of rules that I developed during my paper trading and am now putting into practice and will adjust as necessary. My rules tell me what to enter, when to enter, when to exit, what to do after a winning trade, what to do after a losing...

Day 8 January 27th, 2006 Open P/L +$156 Closed P/L $-513

Buy1Sell2, I don't know if it has a name. If you find out I'd be interested to know what it is!

Day 7 January 26th, 2006 Fills Bought 1 USH6 116 Call @6 (to close) Bought 1 USH6 112 Put @42 (to close) Open P/L +$156 Closed P/L -$513

Walther, I'll take that under advisement. Thanks, NoMoney Sorry I should have been clarified: I bought the 113 put back to close at a loss. Current Positions: Short 1 USH6 116 Call Short 1 USH6 115 Call Short 1 USH6 112 Put

Day 6 January 25, 2006 Fills Bought 1 USH6 113 Put @44 Sold 1 USH6 115 Call @23 Sold 1 USH6 112 Put @26 Open P/L +$250 Closed P/L -$575

Walther, care to explain your reasoning? How it is a losing proposition? Why do you need a $200k account? Why are credit spreads more suitable? I have no interest in attempting to predict price movement or volatility. Neither are possible on a consistent basis in my opinion.

Day 5 January 24, 2006 Open P/L +$78 Closed P/L -$325

Day 4 January 23rd, 2006 Fills Bought 1 ECH6 1250 Call @78 Bought 1 ECH6 1180 Put @13 Open P/L +$30 Closed P/L -$325 Notes: I was unable to defend the EC position due to my broker's platform so I decided to close both sides and take my medicine. My trading and journal may be...

Thank you for sharing that, ClearWater. A couple of times I had similar losses during paper trading where the market blew through my stops. Trading strangles this way you definitely have to be comfortable taking losses (big and small) but stick to the plan. I was able to stay with my plan...

When one side gains 50% of the initial premium I will buy it back at a loss and sell a new strangle with more total premium than I bought. This will leave the position unbalanced (i.e. 1 call and 2 puts) but I like it because it means I'm weighed in favor of an occuring trend, if it continues I...

When/if these strangles get into trouble that reserve will come in very handy for my defense tactics. Excellent! I hope that's not one of those promises that's been floating around for years?

I'm looking for $400-$600 premium per option.