In that case sir, I am in big trouble! I never had a boring day trading options. They were like roller coaster rides, except I never knew when the next gap up/down would be around the corner.
Regards,
Risking 1% of your total equity. Does this refer to the stop?
- Thread starter rogersmithiii
- Start date
Regards,
In that case sir, I am in big trouble! I never had a boring day trading options. They were like roller coaster rides, except I never knew when the next gap up/down would be around the corner.
Regards,
When I traded index options I was not worried about normal market gyrations.
If the market tumbled I had protection.
I could not be assigned as options were EU style.
The hard part was picking the best months/strikes.
With experience it became somewhat easier.
It is a time consuming job, especially if adjustments are required.
I now prefer very short term trading..in and out during the day and no holding positions overnight.
It is nice to wake up every morning and not have to worry if the markets will go up or go down
True.I now prefer very short term trading..in and out during the day and no holding positions overnight.
It is nice to wake up every morning and not have to worry if the markets will go up or go down
Question: But if the previous day was a loss, don't you worry if today will also be a loss? Emotionally how do you deal with losing days?
Thanks for taking the time.
If you can not make some money every day you trade, then you do not know enough about how to best trade the market you have chosen.
It is always better to make just $100 than to lose $1K!
When I trade, the first thing I look at is the average daily range (ADR).
If I make 50% of the ADR then I am happy.
Every trade is different!
Trade setup will determine trade size. All trades are not equal!
Trade loss/profit is determined by either sudden unexplained move or normal expected move.
Expected move is time and range dependent.
Time = Money (range amount)
Never expect a home run, but always know the batting average
Trading is serious and hard work.
Those who treat it otherwise will more than likely lose.
"There can be more value in the blink of an eye, than in months of rational analysis"
Good Advice...I could not have said it better.If you can not make some money every day you trade, then you do not know enough about how to best trade the market you have chosen.
It is always better to make just $100 than to lose $1K!
When I trade, the first thing I look at is the average daily range (ADR).
If I make 50% of the ADR then I am happy.
Every trade is different!
Trade setup will determine trade size. All trades are not equal!
Trade loss/profit is determined by either sudden unexplained move or normal expected move.
Expected move is time and range dependent.
Time = Money (range amount)
Never expect a home run, but always know the batting average
Trading is serious and hard work.
Those who treat it otherwise will more than likely lose.
"There can be more value in the blink of an eye, than in months of rational analysis"
ES
Please take a look at DXCM and GILD.Mr ironchef, what stock are you trading, or give me any stock that you think is worth looking at?
A little experiment
%%
Dont know ,Ha123,but his updated[ 2 million seller]book noted also 3%;
the 7 or 8% was max on initial position, its more risk than 8% ,on open profits.I saw him on CNBC reporter, asked ''do you daytrade'' He frowned LOL-LOL. But the old gentleman was polite enough to say '' a weekly chart''but ignored the day trade question.
I thought a long time about asking him ''5 day ,6 day or 7 day week chart ????,???