Mentoring JL

[J_Smith]

Sorry for the delayed responses. I will get back to you on everything however I am working all day so bear with me.

Call: option to buy a stock.

Put: right to sell a stock.

Strike price: price of stock when holder buys or sells.

Delta: measures profitability.

Theta: the options sensitivity to time.

pls change the following in ur outline reply..forget about text book stuff for now..we are only interested in our TWS layout..so..

strike = the call and put levels we will select to monitor and trade

delta = how much the price of our monitored levels will move in relation to our stock price movement

theta = how much we are going to lose in paid premium (the level we open trade at) if we hold till tomorrow

can you also add what the following means..not sure what question no. t is..but u will be doing the numbering !

question..what is Range

J_S

 

[destriero]

You're not being terribly subtle. "JL's" first post is a week ago asking how/what to trade and you sweep in and you're mentoring him? No strike IV, so you're ignoring the vol-line? I could write on a napkin what you know about vol-trading or options in general. You made $10 and JL is all excited?

This site has jumped the shark. We have this JS fool talking to his f*cking hand. omfg, what comedy.

yes..3rd chart..price retraced..if i had not put in my lmt order and took profit..then it was halfd vry qckly..in time it will become apparent why i put lmt where i did..this time it worked out for the best..other times it will not..but that is trading..and that is why u need to know what to do if certain things happen..or don't happen..it is common sense really!

So the kid, JL (your sock-puppet right hand), is supposed to glean any information from a chart of a 3-day 40-delta call on AAPL... right. What a joke.

 

[JoshLowe005]

You're not being terribly subtle. "JL's" first post is a week ago asking how/what to trade and you sweep in and you're mentoring him? No strike IV, so you're ignoring the vol-line? I could write on a napkin what you know about vol-trading or options in general. You made $10 and JL is all excited?

This site has jumped the shark. We have this JS fool talking to his f*cking hand. omfg, what comedy.

yes..3rd chart..price retraced..if i had not put in my lmt order and took profit..then it was halfd vry qckly..in time it will become apparent why i put lmt where i did..this time it worked out for the best..other times it will not..but that is trading..and that is why u need to know what to do if certain things happen..or don't happen..it is common sense really!

So the kid, JL (your sock-puppet right hand), is supposed to glean any information from a chart of a 3-day 40-delta call on AAPL... right. What a joke.

I am open to hearing your suggestions on what I should do.

 

[nth]

forget about studying options..just answer the questions as u were asked..and do not forget the outline !!!!!

@J_Smith
Maybe he is saying that he is not yet comfortable using real money? He's barely familiar with stocks. And, now he's being introduced to options..

 

[JoshLowe005]

one last thing jl..very important..i want to write down as well what the "spread" means..now when you reply to all these questions..think before u write..put ur replies in a logical order with a simple outline..something as follows..

Question 1...

Answer 1...

Question 2...

Answer 2...

u need to get into the habit of thinking things in order..no need for all fancy stuff..just keep it simple so that is easy to read and understand..and..if u are a drinker..u best be prepared to cut down on it..and only drink the weekends..u need a clear head when trading..drink fuks up ur mind bigtime..i know..believe me..so no drink when trading..that is a vital agreement if u drink..if not just forget the whole thing..ok

J_S

Q1: what is a spread?
My answer: using a spread allows me to set a defined risk and profit.

 

[destriero]

I am open to hearing your suggestions on what I should do.

Assuming that you're not this JSmith character (doubtful)... cut this guy loose, NOW. Read everything you can about trading vol. Limit your ET time to the option journals that are worthwhile. Get some intro texts from Amazon; Natenberg, McMillan, Baird, and a general primer on derivatives (Hull).

 

[JoshLowe005]

Assuming that you're not this JSmith character (doubtful)... cut this guy loose, NOW. Read everything you can about trading vol. Limit your ET time to the option journals that are worthwhile. Get some intro texts from Amazon; Natenberg, McMillan, Baird, and a general primer on derivatives (Hull).

I'm not going to cut somebody loose that has good intentions to help me learn how to manage risk on trades and can potentially help my future career as a trader. Even if it doesn't work out I'll still have knowledge and experience to take away from the situation(more important than losing/making small amounts of money at my level). Now if you don't mind me asking, do you day trade full time? Also if you would like to add to helping me out in my journey I appreciate any advice. I'm open to everyone's opinions and what you think I should do as well. However im going to keep learning as much as I can from J smith.

 

[JoshLowe005]

pls change the following in ur outline reply..forget about text book stuff for now..we are only interested in our TWS layout..so..

strike = the call and put levels we will select to monitor and trade

delta = how much the price of our monitored levels will move in relation to our stock price movement

theta = how much we are going to lose in paid premium (the level we open trade at) if we hold till tomorrow

can you also add what the following means..not sure what question no. t is..but u will be doing the numbering !

question..what is Range

J_S

Q2: what is range?

Average monthly price of a stock to help determine if it's a good buy.

 

[JoshLowe005]

well jl..glad to see u are realistic..at least u didn't say smtn stpd like 200 a day..

k..so we will set the target once u show the pic of ur diary..with ur max risk per trade..in rltn to IB..just put in the 3k..keep the rest..and forget bout new laptop for now..dwnld TWS from ib website..and make sure the demo works on ur pc..if it does then ur fine..if u have 2 monitors then all the better..if not 1 is fine for now

u r working. so do ur job and post ltr when u can..the markets are going nowhere..u hve plnty of time

J_S

 

[JoshLowe005]

Here you are