Oddiduro's Trading Oddessy

[oddiduro]

Quote from marketsurfer:




i am still holding IBM long. i am down a few cents, the AZO short was sweet making up more than 10 times the IBM drawdown. thank you again.

surfer

LOL...You're Welcome!

 

[OPTIONAL777]

Quote from oddiduro:



Hope you didn't stay long on IBM all day, it did reverse and close lower today. You would be looking at a loss right now.

Oddi will be looking to go short again tommorrow.

A third personality now inhabits the author of this journal. Who is Oddi?

 

[oddiduro]

This post is late.

My apologies.

IBM met my MM criterion for the purchase of a Put, as it opened below the real body of a down day, that is in the overbought zone of it's square.

IBM reversed, and closed higher, so this trade is current in the red.

An IBM 90 Feb Put was puchased, 1 contract.

The put cost 5.70.

It is current trading at 4.85

Stop loss is at 4.15.

Another nice thing about MM is that the squares expand and tighten with the volatility of the issue in question. So the stop is predefined.

The stop is -1.56 from the purchase price, in this case.

Let's see what happens tommorrow.

 

[marketsurfer]

nice call on IBM, odd.

best,

surfer

 

[oddiduro]

Quote from marketsurfer:

nice call on IBM, odd.

best,

surfer

At this point surfer, you are going catch W. Buffet well before I do.

I have to admit, you haven't missed yet. This system is about risk management. Whatever it is that you do seems to nail price level pretty darn well. I can see in your bio why you have been tempted to go whole hog in the past!

I simply assume that I am going to miss more than I hit, so the idea is to keep the losses very small. If the rules are followed, 3 losses to one gain is breakeven. Anything better than that is profit.

 

[OPTIONAL777]

Quote from oddiduro:



At this point surfer, you are going catch W. Buffet well before I do.

I have to admit, you haven't missed yet. This system is about risk management. Whatever it is that you do seems to nail price level pretty darn well. I can see in your bio why you have been tempted to go whole hog in the past!

I simply assume that I am going to miss more than I hit, so the idea is to keep the losses very small. If the rules are followed, 3 losses to one gain is breakeven. Anything better than that is profit.

If you keep sucking up to surf, you are going to have to change your moniker to Oddsurfer....

 

[oddiduro]

IBM has broken down to it's 4/8 line, stopping within 5 points of 81.25. The option that was purchased is now worth 9.20. Looking to take profit on the first qualified reversal.

 

[svsv]

Quote from oddiduro:

This post is late.

My apologies.

IBM met my MM criterion for the purchase of a Put, as it opened below the real body of a down day, that is in the overbought zone of it's square.

IBM reversed, and closed higher, so this trade is current in the red.

An IBM 90 Feb Put was puchased, 1 contract.

The put cost 5.70.

It is current trading at 4.85

Stop loss is at 4.15.

Another nice thing about MM is that the squares expand and tighten with the volatility of the issue in question. So the stop is predefined.

The stop is -1.56 from the purchase price, in this case.

Let's see what happens tommorrow.

I entered @4.5 and closed today @8. Could have waited for longer... but it's nice profit already.

 

[marketsurfer]

Quote from oddiduro:

IBM has broken down to it's 4/8 line, stopping within 5 points of 81.25. The option that was purchased is now worth 9.20. Looking to take profit on the first qualified reversal.

very very nice work !

surfer

 

[OPTIONAL777]

Quote from marketsurfer:




very very nice work !

surfer

In this mutual admiration society, do we now call you MarketOddiduro?