ES Journal Archive (2011)

[Dortch]

Quote from joneog:

Finished trading around .35 for + .34, now I have to decide whether to close it out on an early rally tomorrow or let it ride into exp and deal with that stress.

Good job.
If you are making consistent money trading spreads - more power to you...I looked hard into options long ago and just could not overcome the double whammy of decay and the bid/ask spreads. I realized owning/selling the underlying security was a better place for me.

 

[JSHINV]

Quote from Dortch:

Good job.
If you are making consistent money trading spreads - more power to you...I looked hard into options long ago and just could not overcome the double whammy of decay and the bid/ask spreads. I realized owning/selling the underlying security was a better place for me.

With SPY options you get really good bid ask spreads most of the time especially in and around ATM. They are very liquid. I have a guess and just a guess most of the traders that are killing it with options have floor experience or are on the floor presently - I could be wrong.

 

[klinckphilip]

This post was incorrect. I was looking at the wrong thing.

 

[emg]

Quote from marceck:

"Losers average losers"

Paul Tudor Jones.

Markets are tanking AH, anyone with long futures and no stops is going to get wiped out.
sell bull put spreads if you want to play the long side on a swing. But averaging down futures? Not a long term survival strategy. It works until it doesn't, and when it doesn't it ends a traders career.

those that went long with no stop today, profited. But those that went long with stop lose

 

[schizo]

Quote from JSHINV:

With SPY options you get really good bid ask spreads most of the time especially in and around ATM. They are very liquid. I have a guess and just a guess most of the traders that are killing it with options have floor experience or are on the floor presently - I could be wrong.

I tried to make some easy money by selling calls last week but nobody seemed to be stupid enough to take the offer. Finally, I just gave up. Why is it so easy for everyone else but me?

 

[emg]

Quote from schizo:

Why is it so easy for everyone else but me?

Because they didn't have their mojitos.



Schhhhhizzzzo. Have some mojitos with me, volente, and leterum

 

[schizo]

Quote from emg:

those that went long with no stop today, profited. But those that went long with stop lose

You really are a genius. Why I haven't figured this out earlier is beyond me.

 

[schizo]

Quote from emg:

Because they didn't have their mojitos.



Schhhhhizzzzo. Have some mojitos with me, volente, and leterum

Only men? No thanks.

 

[emg]

Quote from schizo:

You really are a genius. Why I haven't figured this out earlier is beyond me.

u have not had any mojitos lately

 

[Macho]

Quote from mwingo1135:

- You skip over my chart that shows I was short from 1196

That does not look like 119650 to me.

By the way, are you trading ES minis or spreads?