My Options Play

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Quote from Choad:

My point was, that if you had started with the PEET trade you would have lost 50% in 1 day.

Then the other trades might have been tough to do?

What if you had two "PEETS" in a row?

JMHO from being a "small" trader, but risking about $9K on a trade, with a "starting" account of $10K (or heck, even $20K) WILL result in plenty of blowouts. I don't care how good of a stock picker you are.

Hey, that's just my opinion. I am very often wrong.

Good luck and good trading to you!

C
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1. Oh yes, 50% would have been gone! But I didn't start with PEET.

2. Then I would own up and say the stunt was a bummer. At least, no one else but me would have lost 10K.

$9k is alot of money to small traders. I usually buy in excess of 100-200 contracts. But this 10K stunt is aimed at proving something. Members of other forums are watching. :)

Thanks for watching though.
 
Quote from Choad:

My point was, that if you had started with the PEET trade you would have lost 50% in 1 day.

Then the other trades might have been tough to do?

What if you had two "PEETS" in a row?

JMHO from being a "small" trader, but risking about $9K on a trade, with a "starting" account of $10K (or heck, even $20K) WILL result in plenty of blowouts. I don't care how good of a stock picker you are.

Hey, that's just my opinion. I am very often wrong.

Good luck and good trading to you!

C
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Hopefully anyone who tries to make $100k with $10k in a couple of months understands the risks invovled. Besides, gambling and trading are the same thing, imho, just one has better odds if you set yourself up correctly.

Anyway, it can be done, just very unlikely.

- The New Guy
 
Quote from Multioption:

1. Oh yes, 50% would have been gone! But I didn't start with PEET.
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After a huge loss on a 1st trade though few people would continue. It would be very hard to put more money in.

It seems to me you got lucky on some trades and now are betting the farm. Your charts got you in at the top today then a huge slide after.
 
Quote from uninvited_guest:

After a huge loss on a 1st trade though few people would continue. It would be very hard to put more money in.

It seems to me you got lucky on some trades and now are betting the farm.
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Yes, you are right, not many people would have been able to continue with 50% loss in the first trade, but it hasn't happened yet. The trade has not been closed, so losses remain "paper loss".

Could it also be said that I get unlucky with some trades? :)
 
The markets are perverse. Just when you want them to do something they do the exact opposite. I would bail out of PEET for petes sake. I am a tape reader. The tape says it will go below 30.00 tommorrow. It was a sell off today and demand has not come back in yet. I expect it to go lower tommorrow. It is still headed south and who knows how far??? This is markdown phase for the next few days. IMO.
 
Quote from Multioption:

Order placed:

Action: Buy to Open
Options' symbol: .UKQJF (OCT 30 Call)
Underlying security: PEET
Entry Price: Limit 2.20 DAY
# of contracts: 40
Order Status: Filled at $2.20/contract

This is a risky trade considering the time left to expiration. My stop loss at 1.70 below the entry price.
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Was your stop at $1.70 or
$2.20 - $1.70 = $0.50?

Also why so many options on an extremely low volume stock, and very high bid/ask spreads ($0.20) on the options? Another concern is buying so close to expiration, is that not gambling?

For petes sake, wake up and smell the coffee, this is insanity ready to brew over. You young SBUX's think you know everything.
 
Quote from uninvited_guest:

Was your stop at $1.70 or
$2.20 - $1.70 = $0.50?

Also why so many options on an extremely low volume stock, and very high bid/ask spreads ($0.20) on the options? Another concern is buying so close to expiration, is that not gambling?

For petes sake, wake up and smell the coffee, this is insanity ready to brew over. You young SBUX's think you know everything.
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lol, nice word play.

Funny, i've had three cups of coffee and two of tea today, hasn't even produced a mild rally in this stock yet... guess it's still brewin'....

- The New Guy

PS I took the stop to mean $.50... waiting to hear from the fearless leader on this one.
 
Quote from thenewguy:

Peet's starting to show some life.... did all you ADD traders lose interest in this already? lol


- The New Guy
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I check in when a new message is posted. Looks like this journal is dead after only 10 days.
 
Quote from uninvited_guest:

I check in when a new message is posted. Looks like this journal is dead after only 10 days.
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Yeah, haven't seen much of the original poster, although he did say he doesn't trade everyday or something like that. I wonder if I should sell my 2 contracts? lol

- The New Guy
 
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