Buy GLD Jun10 2011 149.00 put

Quote from opt789:
80% loss so far, looking good.
Before you reply with something like “no big deal it was only $59” you should realize how ridiculous that sounds.
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Risking $60.00 is no big deal. Nothing wrong with entering a trade with a maximum loss of $60.00.
Quote from opt789:
Why start an entire thread for a $59 trade other than to hope to get blind lucky and have some big % gain
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It's not blind luck. Today was the first losing day since I opened the position, Tuesday and Wednesday the options hit a high of about $0.70. This trade isn't dead yet, as of now GLD has to drop about 1 1/2% for a small profit.
Quote from opt789:
And start 3 more threads with your multiple aliases and say what a great trade it was.
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Which multiple aliases? The MODs (chiguy, Joe) can confirm I have no multiple aliases. I believe the MODs in the past have posted any multiple aliases on request. Perhaps you could contact them.
Quote from opt789:
You can’t have it both ways by saying it was a great trade when you get lucky and have a big % win, and then turn around and have a 100% loss and say it doesn’t matter because of the dollar amount.
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Once again $60.00 is no big deal.
 
Quote from ForexForex:

Risking $60.00 is no big deal. Nothing wrong with entering a trade with a maximum loss of $60.00.

Once again $60.00 is no big deal.
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Once again, you can't have it both ways.

If you are unconcerned about losing 100% of $60, and if your trade does earn you a profit, you can't then claim that you're a super magical trader who just had a massive percentage gain on $60.
 
Quote from m22au:

Once again, you can't have it both ways.

If you are unconcerned about losing 100% of $60, and if your trade does earn you a profit, you can't then claim that you're a super magical trader who just had a massive percentage gain on $60.
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$60 is really no big deal when you buy 1 contract.
OTOH, a 100% loss is ... IF you do size.
 
Quote from ForexForex:
06-06-11 03:54 PM

Buy 1 contract GLD Jun10 2011 149.00 put @ $0.5972

http://finance.yahoo.com/q?s=GLD110610P00149000
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UPDATE:
Closed at $0.12:
P/L: -$48.86 / -82%

Screenshot.png

GLD - 5 day chart to June 10, 2011 11:22am EST.
Green dot position opened.
Red dot position closed.
 
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