Aggressive Weekly Option Trades

liquidating all my SPY options right now:
1.54 for the 180 puts = 26% loss on 2% = 0.56% account loss
2.81 for the 181.50 puts = 243% gain = 4.86% account gain
.21 for the short 180 calls = 83% gain = 1.66% account gain
.85 for the short 180 Dec 20 calls = 53% gain = 1.06% account gain

account now at + 4.47% in two weeks, not bad
 
Quote from trader198:

trading itself is gambling.
whether you trade option, future, individual stock.

first, before you hit the button, you know nothing about what will happen
second, after you hit the button, you still do not know what will happen
third, when you are riding, you will never know what the market will go at specfic time.

after the market is closed, when you look back, it seems it is obvious (that is why most people think they are genius in market anlysis, like "I told you", "I know it", but in reality they failed miserablly), but that is illusion.

why you are not happy since you blieve making money needs skill or some effort. in your case, you paid efforts, but you got nothing even lost, you did not pay efforts, or involved in kind of
intelligence/skill, like heavn sent (you feel you are an idiot, GIFT kind of money making means deny your truth ability, someone gave you money like an assult to you), while you gained and won money (you expect only efforts paid then you can win money).


making money in trading does not need skill! intelligence? NO.
emotions? NO. disciplines? NO. working hard/thinkinghard efforts? NO. Trading plan? NO. Edges? NO. the same applies to losing money in trading!

that is your miscoception about making money in trading.

you define happiness by "make efforts, then get rewards". this is wrong.

when look around, someone born with everything they want. did they work hard? did they study hard? did they think hard? ....NO
you will feel that is unfair.

but in another side, someone born with nothing. they need work hard, they need think hard, they need... still hard to make ends meet. you feel you want somemercy on them.

that is why I belive in God. whether I win or lose, all is God's gift, so I am always happy.


WHAT YOU HAVE QUOTED IS 100% TRUE. AND MENTIONED IN THE BOOK. THE DISCPLINED TRADER BY MARK DOUGLAS

FEW FOLKS GET IT .THAT THERE IS NO CORRELATION BETWEEN AMOUNT OF WORK AND MONEY MADE TRADING.

LIFE IS FULL OF RANDOM EVENTS.. JUST DONT TRY TO WORRY/SELF REFLECT. TOO MUCH ABOUT IT.
 
Hey Bry,



I got lucky trading FB's $51.50 and $53.00 Calls on Thursday and Friday, it was gambling at it's highest form but I only used $8000 to play with those dice.

I bought FB's $51.50s for $35 and sold them for $95 to $140 and FB's $53.00 for $5 to $10 and sold them from $24 to $42.6 average. It's kinda of a Roulette Wheel?

I lost $1,000 on Yahoo's $40 Calls, I should have had a GTC order on those when YHOO hit $40.25 on Friday, I was too busy trading Facebook and should have put the GTC order like you said. Thank's for adding that good idea, it worked other weekly-options and I only had once chance for getting out and using the GTC made that happen.
 
good 4u, JJF,
if someone really thinks it is just russian roulette, it is crazy to do it; if someone believes in tech analysis, and can trade it; and day/swing trade, then don't you think that makes sense?
bry
 
BRY, on the Facebook trades I could see the Big Buyers via the Tape and Level 2 buying. After decades of watching the LL2 and Tape reading, it's not so much gambling as to educated guesses like counting cards like Edward Thorpe did with his Black Jack in Vegas.



Scalpers and long-time day-traders can feel the stocks pressures of up or down, today I could feel WDC upward bias and Adobe's dowward pressure plus all the research on how Adobe reacts after a earnings report make's this not gambling for me but for others who did not put in their time, it's gambling my friend! Thank's for the GTC order comment, now I don't make a trade without them.
 
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