2011: Rebuilding My Battered Account
- Thread starter neke
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How does neke choose his option trades?
They are various option strategies, just because Nekes are straight forward buys, and sells. It's possible to lose even when directional is correct, or have profits diminish as volatility comes in.
I use options for swingtrading, and intraday when I can monitor the position. I have been recently buying equities and writing calls waiting for the volatility to come in and cover, or as stock declines cover to lower cost, to write again. Being called on some issues doesn't matter, and on ones I want to keep they are wrtten further out to reduce the probability of being called while premium decays.
It's mainly about knowing yourself, developing strategies in varying market conditions that fit your beliefs, and that will meet your objectives. Then taking a disciplined approach using proper position size.
I'm no Einstein when it comes to the markets. However these last few weeks when using patience and working the plan have created many opportunities. Opportunities that help bring in months of profits in days and weeks. However we see it can also take months and years of profits, and evaporate them within days or weeks. I've been on that side of the fence also in the past. As negative or positive the outcome may be at times, we achieve the results we desire.
I use options for swingtrading, and intraday when I can monitor the position. I have been recently buying equities and writing calls waiting for the volatility to come in and cover, or as stock declines cover to lower cost, to write again. Being called on some issues doesn't matter, and on ones I want to keep they are wrtten further out to reduce the probability of being called while premium decays.
It's mainly about knowing yourself, developing strategies in varying market conditions that fit your beliefs, and that will meet your objectives. Then taking a disciplined approach using proper position size.
I'm no Einstein when it comes to the markets. However these last few weeks when using patience and working the plan have created many opportunities. Opportunities that help bring in months of profits in days and weeks. However we see it can also take months and years of profits, and evaporate them within days or weeks. I've been on that side of the fence also in the past. As negative or positive the outcome may be at times, we achieve the results we desire.
He is not naive, you just dont understand, that traders are acutally commodities for the big players. They actually trader the traders, if you know what I mean. By the time most realise this, they would be broke.
The only way compete is not to day trade but position trade - buy/sell and hold for eternity
Weekly Update for week 34/50 ended 9/3/2011
Flat week, up 2.3K (1%).
System malfunction most of the week, not able to make much auto/mech trades.
Flat week, up 2.3K (1%).
System malfunction most of the week, not able to make much auto/mech trades.
Code:
Opening Balance: 210,971
Net gain for the week 2,275
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Net Balance: 213,246
Number of Trades 7
Number of Profitable Trades 5
Since Inception of Thread 01/8/2011 - 9/3/2011
Opening Balance: 335,899
Net loss (Less Margin Interest) 122,653 (Down 36.5%)
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Net Balance 213,246
Number of Trades 677
Number of Profitable Trades 358Quote from Bear Trader:
He is not naive, you just dont understand, that traders are acutally commodities for the big players. They actually trader the traders, if you know what I mean. By the time most realise this, they would be broke.
The only way compete is not to day trade but position trade - buy/sell and hold for eternity
You are soooo ignorant...The best way to make money is trade short term...
Hang in there.
Good Luck to you.
Wait for the sell off then go long.
Pick your spots.
Good Luck to you.
Wait for the sell off then go long.
Pick your spots.
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