Bought 10 contracts QQQ 100.00 Oct03 calls at $0.24 (Last Attempt)

FXforex

FXforex

  • QQQ at $98.96
  • Bought 10 contracts QQQ 100.00 Oct03 calls at $0.24
  • QQQ has been in a tight trading range for 1 month
  • Strong resistance at $100.00
  • QQQ price target $101.00+

This is my 5th - and last - attempt at catching a QQQ breakout above $100.00. All 4 previous trades were placed on a Wednesday, 2 days before expiry. This trade has been moved to Tuesday because it's the last day of this quarter and November 1st could be a big mover for the markets - last year QQQ was up 1% on November 1, 2013.

Lets see what the next 3 days brings. Will I get that breakout?




  • Total P/L: -$260.00 (-100%)

This thread is now open to timely comments and likes from the ET Peanut Gallery.



:)
 
OP, what happened to editing your post, changing "buy" to "sell" and then claiming a win as you have done in the past? Get with the program, will ya?
 
FXforex said:
This is my 5th - and last - attempt at catching a QQQ breakout above $100.00. All 4 previous trades were placed on a Wednesday, 2 days before expiry. This trade has been moved to Tuesday because it's the last day of this quarter and November 1st could be a big mover for the markets - last year QQQ was up 1% on November 1, 2013.
More...


RichardRimes said:
Isnt Nov 1st some 30 days away? Not three days...you could very well be right abt Nov 1
More...




Yes ....... that is a typo. November should be October.



:)
 
IMO, when you want to follow the trend, YOU MUST wait retracements.
Here, USD90/92 zone COULD be a good price IF 90 HOLDS. Old RESISTANCE becomes SUPPORT.
MA200 in yellow would be a SUPPORT too.
Daily RSI is just BELOW 50 (49.68), IMO good timing for a CORRECTION.

upload_2014-10-1_14-20-37.gif
 
FF, your timing seems to be off. With decent timing anything is possible. Add a little option strat. and you can improve odds.
 
You must log in or register to reply here.
Back
Top