Need Advice

[lawrence-lugar]

How can I achieve that may I ask?

Learn to trade directional options, go all in with each trade...and compound your account.
and accept Moses as your lord and savior. and convert yourself to a Jew. Jews are good with money. Join them, let some of their karma and luck rub off on you.

That's the gist of it, it's slightly more complicated than that though in real life.

It may sound strange...but my success/luck/skill/knowledge in the market...kind of picked up greatly...after I bought a Sun Conure parrot in 2009, or was it 2010.

 

[Overnight]

Learn to trade directional options, go all in with each trade...and compound your account.
and accept Moses as your lord and savior. and convert yourself to a Jew...

Moses just wasn't a good trader. He couldn't even handle the books. Get it? Books AHHAHA omg I am so funny when I have a bad losing day.

(And LL, if anyone gives you gruff about the Jew jokes tell them to bugger off. I went through the Jewish rituals when I was a kid and I wasn't even Jewish, just something my mom made me do because we lived with a Hasidic family. Was so dumb. No kid should be 8 years old and learn then that Manischewitz wine is disgusting and should be banned from this planet.)

Anyways.

Carry on, fair schweitzer

 

[ironchef]

Learn to trade directional options, go all in with each trade...and compound your account.
and accept Moses as your lord and savior. and convert yourself to a Jew. Jews are good with money. Join them, let some of their karma and luck rub off on you.

That's the gist of it, it's slightly more complicated than that though in real life.

It may sound strange...but my success/luck in the market...kind of picked up greatly...after I bought a Sun Conure parrot.

Thank you.

How do I learn to trade directional options? Most professionals on ET seemed to be trading combinations like spreads, butterflies, condors, and trading volatility. And won't you risk ruins if you go all in with each trade?

As for religion and race, I don't think I will comment.

Best wishes.

 

[lawrence-lugar]

How do I learn to trade directional options?
Most professionals on ET seemed to be trading combinations like spreads, butterflies, condors, and trading volatility

And won't you risk ruins if you go all in with each trade?

I was just joking and being sarcastic, or semi-joking, about going all-in with each trade and compounding.
That would be the perfect storm, ideal, hindsight scenario trading game plan to do. -- But chances are...the real world is not like that, or won't play out like that in your complete favor.

You're asking for my Holy Grail...by asking me how to trade directionally, and essentially predict the future. and/or manage it.
And the only way you'll get it directly out of me is by torchering me against my will.

The only reason to trade weird, complex option strategies like spreads, butterflies, condors, parrots, pterodactyls, geese, flamingos, etc etc...is because those traders can't trade or predict the future.
So they virtually play both sides, across different angles and degrees...to essentially cover all their vague bases.
They are not really making any money, or losing money either. Time goes by, without much progress made to their accounts.

Whatever time frame you trade...try to perceive it like The Matrix,

Think about and view things from different, multiple perspectives,
Mountains, and ocean floors
Happy/excited and sad/angry
hard candy, and soft candy
a physical plywood plaster or brick wall -- and a rubberband or mesh wall,
organizing a war to win, or organizing a picnic,
,

 

[ironchef]

I was just joking and being sarcastic, or semi-joking, about going all-in with each trade and compounding.
That would be the perfect storm, ideal, hindsight scenario trading game plan to do. -- But chances are...the real world is not like that, or won't play out like that in your complete favor.

You're asking for my Holy Grail...by asking me how to trade directionally, and essentially predict the future. and/or manage it.
And the only way you'll get it directly out of me is by torchering me against my will.

The only reason to trade weird, complex option strategies like spreads, butterflies, condors, parrots, pterodactyls, geese, flamingos, etc etc...is because those traders can't trade or predict the future.
So they virtually play both sides, across different angles and degrees...to essentially cover all their vague bases.
They are not really making any money, or losing money either. Time goes by, without much progress made to their accounts.

Whatever time frame you trade...try to perceive it like The Matrix,

First of all, I am glad you are kidding about going all in on every trade. For a moment I thought I misjudged you.

Second, no need to tell me your Holy Grail Mr. L-L. From reading many of your posts, I already have some ideas how you trade. I use similar approaches.

Yes, you do know what you are doing.

 

[Cat88]

This market never goes down!!! WTF?!! Every time I short, all the freakin dip buyers come in and rip it up. So, then I went long and got out. Then toward end of day I figure it's too high. Mistakes. Put on a small short position then it rips up! It's never going down! Stupid me to think the Fed will ever like it crash...

Sounds like you need a long/medium term filter, so only trade in the direction of the 200 day moving average or whatever time frame but something a few timeframes larger than your signal is.

and when you get a crossover of that major trend indicator then avoid trading till the change in direction has been confirmed, so say it was trending up, went below the 200 day average then wait til it's moved 5% through or some meaningful margin, then came back to confirm the break before you try entering again.

In the interim maybe look for a similar type of market e.g. equity/bond/commodity that you can apply your analysis or system to and do some testing with a much smaller amount of capital. It will fill in your need for action while your main market is turning (i.e. choppy/whipsawing and therefore hard to predict), not cost you much (if you bet small) and who knows you might even another investment opportunity

 

[speedo]

Moses just wasn't a good trader. He couldn't even handle the books. Get it? Books AHHAHA omg I am so funny when I have a bad losing day.

(And LL, if anyone gives you gruff about the Jew jokes tell them to bugger off. I went through the Jewish rituals when I was a kid and I wasn't even Jewish, just something my mom made me do because we lived with a Hasidic family. Was so dumb. No kid should be 8 years old and learn then that Manischewitz wine is disgusting and should be banned from this planet.)

Anyways.

Carry on, fair schweitzer

Or Mogen David....Oy !!

 

[trader99]

Today was much better for the following reasons:

1) Lower volatility. So I can enter at reasonable prices and sit through the movement as the trend evolves

2) I followed my setups. It's just crazy. EACH and every time I violate my rules I lose money. When I'm calm and collected and execute as my setup would tell me, I make money.

Why I can't do that every time? Discipline? Perhaps. I think it's a perverse human psychology and desire to predict prices. Sometimes the predictions come through. When the prediction doesn't come then I get screwed. That's where stop loss would help. When I just follow prices then things go well. When I predict where prices will be based on HIGHER time frames I get screwed. Occasionally it works out and I have huge gain. But at what cost?

One of the mismath is due to different time frame. So prices finally went to the exact level I thought it would. But today I got smart. Rather than sit through all of that, I exited at a PROFIT several times. Then re-enter when the signal comes again. Rather than in the past holding through all that because on a higher time frame it might signal something. I'm here an intraday trader. Can't afford to sit through that...

Exits:
I noticed if I wait for prices to reverse to get out it's really bad. Let's say I short. Should I close out at the lows and risking that it will go even lower? Should I wait for a clear sign that the trend has changed then close out?

The same with longs. Just reverse. Sell at the local highs. Or wait for even greater highs...

My personal observations is that it's better for me to close out at the local lows(local minimas) and risking it goes lower. 7 out of 10 times it doesn't go lower and when I wait for the reversal the pullback costs me a lot! Today covering at the lows would have net 50 more pts!

Also this point and click execution bullsh*t is too slow. I see a price and by the time I click on to buy to cover or sell prices have move at least 10-20pts. haha.

What are you guys opinions?

This morning I was net down but made it back when I followed my rules. Wow. I really need to instill those rules.

P.S. Of course now it goes where I predicted. Laughing at my face for getting out too soon. It doesn't matter. I exited at the right places. Re-enter when the signals come up rather than holding through all that which is perilous.

I think fundamental investors tend to predict where things will go. But they manage billions and each position is less than 1% of total portfolio. Me with my retail account I have to follow prices and exit intelligently. Even then, when they get it wrong the fundamental guys get screwed. Greenlight Capital with Valeant Pharmaceuticals. There were many technical sell signals but the guy kept on holding..

 

[speedo]

Why don't we stay on that diet or exercise plan. Why don't we finally learn Spanish, French etc. It ain't easy but we know what to do...nothing left but to do it.....DO IT !

 

[Jzwu2017]

One reason your exit method worked well today is due to the choppy price action in recent volatile market.

One needs to continually adapt to the changing market conditions. This is a good example.