18 year old trades

put in a limit order for 45 oct 09 puts for LCC. hasn't got filled yet and stock keeps pulling back so I don't know if it will.
Stock rallied 20 plus percent this morning on news that AMR got that 2.9 billion in financing. Also the company recently released a new "envoy suite", which is a few new fancy seats with more room for your laptop. It pulled back to +14%.
 
45 LCC oct 09 $6 puts filled at 1.15. Stock pretty volatile this morning, jumped on the AMR news of financing. I don't think a 20% move is appropriate for news of a similiar company getting financing. Although it is good news for the industry, and the industry is up today but I don't think it warrrants this move in this particular stock. LCC still losing a lot of money. I don't see anything abnormal in the options market that could hint that LCC may get new liquidity in the near future.
 
shorted 200 shares of xeno port, xnpt, a few minutes ago at $24.77.

Typical overreaction that I see a lot in this industry. Pain reliever drug met mid stage trial goals and reduced pain with only minor side effects. they are partnered with glaxo smith kline, and they are flat right now.
 
LCC is a bad trade. I owned UAUA at 3.80 sold it at 5.20 and we're trading 9 bucks. The airlines are still undervalued even at these levels, if you don't get your correction to 4.5 or 4 I would dump them, unless you are that confident
 
Here's the best bit of advice I can give you.

Get about 80% of that money out of your account.

Keep 4-5k in there and trade that.

Not because I doubt your ability but because you need time to learn and you need a cushion to take a few loses (aka possibly blow out the account a few times). If you don't blow out....super. Parlay the houses money then. But the problem is that once that 30k is gone, learning becomes a lot more stressful. Stay small until you understand why you're consistent.

That was my biggest regret. You really shouldn't have your hold wad in an account.
 
Quote from Hester:

45 LCC oct 09 $6 puts filled at 1.15. Stock pretty volatile this morning, jumped on the AMR news of financing. I don't think a 20% move is appropriate for news of a similiar company getting financing. Although it is good news for the industry, and the industry is up today but I don't think it warrrants this move in this particular stock. LCC still losing a lot of money. I don't see anything abnormal in the options market that could hint that LCC may get new liquidity in the near future.
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45 @ 1.15? That's 1/6 of your account.

What's your stop at? Keep it tight.
 
Quote from dirkd:

at 18 you don't know shit about crap. here's my recommendation. take your 30k put it in a cd. take mathematics and statistics in college. sim trade for 6 months. No need to rush trading you first have to get knowledge. maybe sim trade for a year, take more college courses. Also date some hot young women.
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What a horrible comment.

That advice isn't that great (except for the hot women). You need screen-time to learn. Take statistics and math huh? Well that's all fine and dandy but good luck making something of it in trading. Trade can be as abstract as it gets.

I started at 14 and plugged it away. He can too. Just needs a cushion to learn.
 
two things strike me

an 18 yr old trader has little wisdom (by definition) no experience.

but @ 18 you have ELEPHANT BALLS.

good luck finding the right measure of each :D
 
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