ES Journal Archive (2006 - 2008)

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Quote from gwac:

good to see you posting again
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Not the 1st time under water, lose some, win some, hopefully win more, stay happy, positive & never give up :)

Funny enough, again not the first time manage to analyse longer term chart correctly, but fail to profit from analyses
 
Quote from jagmot:

I look forward to reading your new journal as well and hope to participate on some of my option trades (if selling is ok) I prefer to have time decay work for me, so I sell vs buy almost 10 to 1.

This is an example of why I like selling options. Most of these trades have been put on when the market was in the low to mid 1300s. Even though I've been wrong that the market was heading lower, the time decay has more than offset the movement higher by the market.
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Thanks for your interest in my upcoming journal and I have no problem for you posting in it so long as you follow the journal's guidelines and etiquette that I'll be setting out from the beginning to all interested posters. I commend you on your profitable option trades. If it works for you well and you're quite comfortable and profitable with it on a consistent basis, then by all means don't change anything. For me at least, I look at option selling as a dangerous way to effectively interact with the market and limits my earnings potential to the amount of premium I've collected.
 
Quote from wave:

Nice call on 1441 sgc, you missed the high by 1 tick. They will try to take it to under 1377 first, then back to 1250, then 1200.
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THANKS BRO...I have a oversold condition right now with a buying opportunity presenting itself from the low of 1409.00 and up, if the support doesn't hold I have down side targets the same as you...upside target back to the high of 1441.00
 
Regarding this rule of hard stop, I would have thought that asking posters to finish a trade is a more decent thing to do than asking them to use a hard stop when they don't use them all the time, it's not going to hurt by slapping on an extra 0.5-1 if & when required. Is it still OK to scale out or is that not allowed now? :)
 
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