My Options Play
- Thread starter Multioption
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Quote from Cluseau:
Ya know, i didn't. HUM reports next week(mon.). Volume is too low and spreads are too great to get fancy in HUM options(not that i can get fancy with derivatives yet) It seems next week will be a good time to trade HUM.
HUM should make a higher high on monday 31st October than Fridays 28th's high. It is somewhat bullish.
Quote from uninvited_guest:
I'm not being reactive. pinabetal is posting too late, anyone can do that.
PS...sorry about your order, but you missed a good call over a dime. Always put the LIMIT order in at the ASK, or use a MARKET order, and then call it the day.
PSS...AAPL should recover during November.
It is easier to make the call after the fact!! Just kidding. What I meant was that Monday it should continue to retrace and head south some more. Sorry about that! All the calls I am making refer to monday 31st of October even though I am refering to a post made on 26th or 27th ..etc. I am simply saying what I think may happen monday. Since the post refered to a specific stock on the 26th I simply referenced that post, whoever made it. That is all. I am not trying to make a call as if I were making it from the 26th. I am looking at the market AFTER the close on Friday 28th and making a forecast for monday 31th of October. This stands for all the calls I am making in KCI, HUM, VZ, BRCM, LYO and any others. They are ALL for monday 31st October. Hope that clears it up!
Multi:
I found this older thread discussing an ADX trading system. Did you follow it? Comments?
http://elitetrader.com/vb/showthrea...e=6&highlight=dmi\[\^\\s\][^\s]*&pagenumber=1
nyc-hotshot's first post describes the system:
"08-22-03 07:36 PM
I had mentioned the DMI in a Stochastics thread and got like 10 people mailing me about it, so I figured the best way to discuss it would be a new thread.
Anyway, I use the DMI/ADX almost exclusively (DMI is the Directional Movement Index & ADX is the Average Directional Movement Index ). The only additional indicator I use is Nasdaq futures. I have used this theory for day trading for several years and I consistently make money. I am profitable almost everyday, although I have had a few ( very seldom) net negative days when you count commissions.
DMI/ADX works great for any trading from day trading to swing or position trading. I combine the ADX/DMI onto one study. I make the ADX line white in color, the PDI line red, and the MDI line green. I use the PRO software offered by Realfasttrader. That software makes it real easy because it already combines ADX/DMI into one indicator. Although, I'm pretty sure most softwares out there also have DMI/ADX (it's very common), I think it's easiest to use when they are combined.
This is how I do it:
When white (ADX) crosses the other lines and is at the top and green (MDI) is at the bottom (red in the middle), it's a buy. White on top red (PDI) on the bottom (green in the middle), it's a sell. Often the simplest things work best and this seems simple and it is, but it works very good. I consistently make between .02 -.05 cents on 2000 - 5000 share trades. I usually go for more around the open (maybe .05-.10 or more). I ONLY trade widely traded Nasdaq stocks, like CSCO and INTC."
I found this older thread discussing an ADX trading system. Did you follow it? Comments?
http://elitetrader.com/vb/showthrea...e=6&highlight=dmi\[\^\\s\][^\s]*&pagenumber=1
nyc-hotshot's first post describes the system:
"08-22-03 07:36 PM
I had mentioned the DMI in a Stochastics thread and got like 10 people mailing me about it, so I figured the best way to discuss it would be a new thread.
Anyway, I use the DMI/ADX almost exclusively (DMI is the Directional Movement Index & ADX is the Average Directional Movement Index ). The only additional indicator I use is Nasdaq futures. I have used this theory for day trading for several years and I consistently make money. I am profitable almost everyday, although I have had a few ( very seldom) net negative days when you count commissions.
DMI/ADX works great for any trading from day trading to swing or position trading. I combine the ADX/DMI onto one study. I make the ADX line white in color, the PDI line red, and the MDI line green. I use the PRO software offered by Realfasttrader. That software makes it real easy because it already combines ADX/DMI into one indicator. Although, I'm pretty sure most softwares out there also have DMI/ADX (it's very common), I think it's easiest to use when they are combined.
This is how I do it:
When white (ADX) crosses the other lines and is at the top and green (MDI) is at the bottom (red in the middle), it's a buy. White on top red (PDI) on the bottom (green in the middle), it's a sell. Often the simplest things work best and this seems simple and it is, but it works very good. I consistently make between .02 -.05 cents on 2000 - 5000 share trades. I usually go for more around the open (maybe .05-.10 or more). I ONLY trade widely traded Nasdaq stocks, like CSCO and INTC."
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