My trades

truetype said:
I think you misunderstand what "stop" means.
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optionsinvestor said:
Truetype, I definitely misunderstood the stop on TSLA lol.
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  • I think you misunderstood truetype's post. It has nothing to do with TSLA.
  • A stop is a stop - you exit and take the loss. Otherwise no sense in setting stops.

IMO ....... You can't set stops on long option positions. Down 50% one day up 300% the next. Your "stop" has to be the total debit of the position.
 
OptionsOptionsOptions said:
  • I think you misunderstood truetype's post. It has nothing to do with TSLA.
  • A stop is a stop - you exit and take the loss. Otherwise no sense in setting stops.
IMO ....... You can't set stops on long option positions. Down 50% one day up 300% the next. Your "stop" has to be the total debit of the position.
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Oh I understood what he meant. I let the stops hit with my entire NFLX position. I'll use stops on options that I plan to hold for a longer period. In the end, my entire position is always my stop. Stops can be used in different ways. A stop should always be a stop and the loss taken, but there are times when new information comes into play. In those situations, that stop becomes irrelevant to me, and I feel I have to readjust to the news or S/R that I missed beforehand. I've learned that I end up going back into the same position once I review the trade again with new info.

That's what I did with TSLA, I readjusted the position and stop loss. If I didn't miss the news that I missed, then I would have closed out on the position. This time, I just happened to miss a couple of things and after reviewing everything I changed my position and stop loss accordingly. Which is what I should have done with NFLX too. I went back, looked at that trade and realized I missed some details that would have kept me in those trades, and now I'm going to get back in that one too. It's never perfect, I understand I'll have to adapt to the market as it changes, otherwise, I'll be at zero sooner than later.
 
OI just took a 2K account to over 100K in a few months time. Any posters trying to give him advice really just need to STFU...btw OI you're way too polite.
 
HurricaneUS said:
OI just took a 2K account to over 100K in a few months time. Any posters trying to give him advice really just need to STFU...btw OI you're way too polite.
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lol, I just wanted to point out that I did understand what truetype meant in terms of stop losses. I use them all the time. All the losses I took, I didn't just decide to close out trades. They've hit my stops (I use limit stops so the market gets me out at the expected price, or I cancel the limit order and then I'll find an exit). I also wanted to explain, that I used to use these hard stops, but then after reviewing and additional research I find myself back into the trade based on new information.

Adding nflx jul wk2 410 calls here too. Getting back into that trade.
 
I took a hit on TSLA when it hit my stops this morning, closing out the position at -$2469. I added more NFLX and NVDA at the end of yesterday's trading avg down on both.

I totaling misplayed the TSLA position. Instead of playing the event like I initially set out to do, I played TSLA like a swing position. I had the position on Monday at an avg price of $15 before avg down and those options were above $20 after the event. That should have been my exit. Still a bit rusty mixing my event and swing trades.
 
optionsinvestor said:
I took a hit on TSLA when it hit my stops this morning, closing out the position at -$2469. I added more NFLX and NVDA at the end of yesterday's trading avg down on both.

I totaling misplayed the TSLA position. Instead of playing the event like I initially set out to do, I played TSLA like a swing position. I had the position on Monday at an avg price of $15 before avg down and those options were above $20 after the event. That should have been my exit. Still a bit rusty mixing my event and swing trades.
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Don't forget that you originally decided to lay low for the rest of the summer to avoid these summertime markets.....this is not advice though.
 
Yea, I did. I took a vacation with the family. It was relaxing and I clearly skipped out on a lot of losers. For the day, I did close out the NFLX and NVDA call positions. I wanted to take profits on both of these even if they were small profits. Locked in +606 total on both trades. Tomorrow's the official start of the trade war, so I want to see how the market plays out before jumping back into the market. I like the run up here into earnings for some of these tech stocks, and I think I'll counter it with puts on anything related to the trade war.

Overall, I'll finish this week at -3242.
 
Added BA Jul wk2 330 puts today. I want to see how the start of this trade war plays out.

Might as well also add the NFLX Jul 420 calls here playing it up to earnings on Jul 16. Also added FB week 2 $200 calls here.

I've definitely have to watch my position size. Still adjusting to the lower account size. My NFLX position has an average entry price of 13.64, but the initial cost was about $5500 and that took up 33% of my account of $15.3K already. FB and BA were each between $700-$900, so I've got a good chunk in play on just these 3 position.
 
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Locked in losses this week were just above -3200. On the plus side, jumping into positions this morning allowed me to show a better unrealized gain so far up to +1800. I'll be looking for the bounce to continue into early next week before locking in more of these short term profits.
 
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