ES Journal Archive (2006 - 2008)

[volente_00]

Quote from atticus:

You need to get hooked on phonics. I explained that I took 25 from 67 to 81, which reduced my cost-basis on the remaining contracts to 62 and change.

My apology, do you always use booked gains to lower your cost basis ? I have never heard of it.

 

[atticus]

Quote from volente_00:

Actually it was 67 k to 181k if you want to get technical.

Don't remind me about how I ran 100k to 180k

All I am asking for is a brief synopsis of how high OI = edge.

 

[volente_00]

Quote from joeyata1:

this board is incredible. i swear its batting 95% win rates when 99% of futures traders lose money over time.keep up the good work.

Aren't you the guy who shorted spx at 1270 ?

 

[JSSPMK]

Quote from atticus:

Thanks JS. Don't forget, Volente took his C2 account from 100k to 180k.

Isn't C2 sim based?

 

[volente_00]

You are an expert on greeks, so you tell us why is not relevant first.

 

[atticus]

Quote from volente_00:

My apology, do you always use booked gains to lower your cost basis ? I have never heard of it.

Really, you find that odd? I had scaled out of a portion; so yes, I was carrying half of the original 50-lot. Same logic when adding.

 

[atticus]

Quote from volente_00:

You are an expert on greeks, so you tell us why is not relevant first.

So you'd like me to bargain with myself? You offer an argument with no substance, and now you're looking for me to hand you the diametric?

I'll give you a hint. It's to do with liquidity ratios.

 

[volente_00]

Why scale out when you were bullish enough to hold through a drawdown originally ? Or is this position a hedge ?

 

[volente_00]

My argument has plenty of substance as my read of the option interest in spy showed this move was coming before the fact. I ask you again, is it merely coincidence that this happened on oe week ?

 

[atticus]

Quote from volente_00:

Why scale out when you were bullish enough to hold through a drawdown originally ? Or is this position a hedge ?

I always scale-out. I had some double no touch debits outstanding, but those were neutral at ~1470; so if anything, I should've increased in lieu of covering. I scale out on a stat-vol forecast. I should've covered the 75 much earlier, but I increased my pucker-factor due to vol and I was fairly confident we'd see the print from my earlier offset.