ES Journal Archive (2009 - 2010)

[oraclewizard77]

Just ignore them or challenge them to take the opposite of one of your trades.

I am a little pissed in that I waited for another good trade today, took it, and got out with just a small profit, and the market shot much higher. I think if I am going to wait for a good trade, I need to take it with more contracts and let a winner run.

Here is a good $ 200/contract trade I am posting in real time. Sell the DNDN $ 25 NOV put naked. I did. The stock is 10 points above the strike price.

Keep the stock if your put gets exercised and hold it for another 2 points of profit.

Quote from schizo:

So you people are pissed that I post my trades in real time, both winners and losers? Just what the hell are you complaining about? Surely, you're not saying that I'm not posting my trades enough, are ya?

Well, if that's the case, I'll just pack up and leave y'all in peace.

 

[BA_Trader]

Quote from futureT88:

What are you kids arguing about?, everybody just go long and we all have a good weekend..

Just don't get stuck in a hold over G20 this weekend.

 

[BA_Trader]

Quote from kinggyppo:

in the floored movie Dr J says that a winning trade is like applause that only you hear, true statement. It is in the nature of man to conquer, the market being the ultimate beast. I would say throw your spears at it and enjoy the ride. All this posting in real time, proofs is bs and the issue has been beaten to death here and countless other threads. Show someone your blotter and someone will say it is photoshopped, made up etc. etc. Its what I would call a circular argument. Peace.


http://www.youtube.com/watch?v=LrllCZw8jiM&feature=related

Amen brother.

This is why I post commentary and observations and not trades.

I have nothing against the guys ..errr I mean people ...posting live trades - actually it's quite helpful to get in someone else's headspace for new ideas/perspectives on the market.

 

[wave]

oraclewizard77,

I see DNDN going to 30 and then pop to 42.

Good trading to you.

 

[NoDoji]

Quote from oraclewizard77:

Here is a good $ 200/contract trade I am posting in real time. Sell the DNDN $ 25 NOV put naked. I did. The stock is 10 points above the strike price.

Keep the stock if your put gets exercised and hold it for another 2 points of profit.

Hmmm. selling naked puts on a biotech. I get chills just thinking about it. Brings to mind ITMN closing @ 45.00, halting a couple minutes later and re-opening @ 8.50 not long ago.

:eek:

 

[oraclewizard77]

NoDoji,

I am not telling someone to sell puts on a biotech before FDA approval, that is of course silly. DNDN already received FDA approval for their drug plus it sold off during the market correction and profit taking.

If DNDN falls to $ 25/sh, would be like getting the price before the drug was approved.

Instead if you want to play a biotech waiting for approval, just buy some calls if you are positive or buy some puts if you are negative on it.

Quote from NoDoji:

Hmmm. selling naked puts on a biotech. I get chills just thinking about it. Brings to mind ITMN closing @ 45.00, halting a couple minutes later and re-opening @ 8.50 not long ago.

:eek:

 

[wave]

Strong stomachs could also buy Venezuelan bonds.

 

[oraclewizard77]

Of course, you could have just gone long on DNDN today, and made $ 1/sh already instead of getting complicated.

Quote from oraclewizard77:

NoDoji,

I am not telling someone to sell puts on a biotech before FDA approval, that is of course silly. DNDN already received FDA approval for their drug plus it sold off during the market correction and profit taking.

If DNDN falls to $ 25/sh, would be like getting the price before the drug was approved.

Instead if you want to play a biotech waiting for approval, just buy some calls if you are positive or buy some puts if you are negative on it.

 

[NoDoji]

Quote from oraclewizard77:

NoDoji,

I am not telling someone to sell puts on a biotech before FDA approval, that is of course silly. DNDN already received FDA approval for their drug plus it sold off during the market correction and profit taking.

If DNDN falls to $ 25/sh, would be like getting the price before the drug was approved.

Instead if you want to play a biotech waiting for approval, just buy some calls if you are positive or buy some puts if you are negative on it.

Still biotechs always run the risk of an adverse news event driving the price into the toilet, even after an approval of a drug. Seems like MUCH safer ways to be long than naked puts. IMHO.

 

[schizo]

Quote from kinggyppo:

in the floored movie Dr J says that a winning trade is like applause that only you hear, true statement. It is in the nature of man to conquer, the market being the ultimate beast. I would say throw your spears at it and enjoy the ride.

I couldn't have said it any better myself.

All this posting in real time, proofs is bs and the issue has been beaten to death here and countless other threads. Show someone your blotter and someone will say it is photoshopped, made up etc. etc. Its what I would call a circular argument. Peace.

While some might find it entertaining, I post my real time trades for a reason. When you trade as long as me (20 years and counting), you don't need others to literally walk with you hand in hand. They need only throw out a entry/exit number and you'll be able to decipher what they were thinking at the time. It also forces you to think for yourself. Hence, my belief that it's more instrumental to post real time trades for others to chew on.

Also anyone can have an opinion of the market, in which case you're either right or wrong 50% of the time. By all means, there's nothing wrong with making calls per se. But this will never make you a better trader, period. Only way to improve yourself is to constantly challenge yourself and there's no better way than to hold yourself accountable. That is, posting trades in real time.