Stay or take money and Run?

Hmmmm. Either, everybody on ET is gone for the week or perhaps I am not posti
tommcginnis said:
Just working the original greeks, I would've jumped -- that $100 theta is matched to a $300+ dollar vega going the other way.

But the reason I'm posting is that the risk graph you're showing seems awfully broad, and awfully *flat* -- and seems SO flat that it would be easy to justify staying in, instead of jumping. Not knowing the ins and outs of that platform (ToS?), it's kinda hard to say. Lots of cues to action, but a good portion conflict. :confused:
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Thanks @tommcginnis -- yes the graph is Flat -- Note the delta is close to Zero which of course produces a flatter graph. (But, of course, you knew that). Your comment on the Vega Risk is very important -- thanks for that. The fun part is that the market is closed soon until reopening on Sunday. So the "Gamble in me thinks -- "I am always able to Adjust the position later". So Yes, Mr. @tommcginnis -- Conservative approach wins. Thanks!
 
Is this normal profit for this trade? If it's not, do you want to take the risk that this is the outlier? I personally can't understand taking a trade and not knowing when you would get out.

I would just take the profit and move on but that's me.
 
nooby_mcnoob said:
Is this normal profit for this trade? If it's not, do you want to take the risk that this is the outlier? I personally can't understand taking a trade and not knowing when you would get out.

I would just take the profit and move on but that's me.
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Exactly...if he's reached his profit target...bank it.

Yet, if he thinks its too early in light of today's market events...still bank it and then wait for the next trade to use a bigger profit target in similar like market conditions.

wrbtrader
 
wrbtrader said:
Exactly...if he's reached his profit target...bank it.

Yet, if he thinks its too early in light of today's market events...still bank it and then wait for the next trade to use a bigger profit target in similar like market conditions.

wrbtrader
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Exactly. You got lucky. Be grateful and move on.
 
Thanks guys for your comments and advice. Did take the money and Ran. Will put a new trade on Sunday Afternoon about 3:30 PM my Pacific Time Zone.
 
MACD said:
Thanks guys for your comments and advice. Did take the money and Ran. Will put a new trade on Sunday Afternoon about 3:30 PM my Pacific Time Zone.
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Ain't it wonderful when Vol goes up and you sold Puts and at the same time you sold the Future. Yup, @nooby_mcnoob, @wrbtrader and of course ("Indiana Jones) Mr. @tommcginnis --Appreciate you the "goodguys" on Elitetrader.
 
Interesting conundrum: Quoting above: "Exactly. You got lucky. Be grateful and move on." This was good advice from @nooby_mcnoob , under the circumstances -- as per my trade.

Got me thinking: How much luck is there in trading? Well, certainly I did not know that we would have the big market drop -- precipitated by news (China vs. Trump) that shook the markets. However, not patting myself on the back (been doing this too long -- to indulge in that --); I do, however, have a Planned System to trade and understand the Probability of the Market's profiding "Luck". So this may be of interest to continue with this Thread on E.T.
 
MACD said:
Interesting conundrum: Quoting above: "Exactly. You got lucky. Be grateful and move on." This was good advice from @nooby_mcnoob , under the circumstances -- as per my trade.

Got me thinking: How much luck is there in trading? Well, certainly I did not know that we would have the big market drop -- precipitated by news (China vs. Trump) that shook the markets. However, not patting myself on the back (been doing this too long -- to indulge in that --); I do, however, have a Planned System to trade and understand the Probability of the Market's profiding "Luck". So this may be of interest to continue with this Thread on E.T.
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It's inevitable that you get some returns, for some period of time, that are outside the expected values for your trade. It's not that values outside the expected value are unexpected, but that you seemed like you have no plan to trade them. When that is the case, count your blessings and take your profit.

Many people scale out of positions when it goes their way, others double down.

I'm partial to scaling out though I have not really activated it yet. I automated this past Friday, so let's see if it works out.

All I can do is choose when to enter and exit the trade, the market does the rest.
 
nooby_mcnoob said:
It's inevitable that you get some returns, for some period of time, that are outside the expected values for your trade. It's not that values outside the expected value are unexpected, but that you seemed like you have no plan to trade them. When that is the case, count your blessings and take your profit.
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Yes, I certainly understand that it appeared from my posts on this thread -- that I had no plan for exits with or without a profit -- I DO have a complete plan for Entries and Exits -- then why did I ask opinions as to when to take a great profit (windfall). I wanted to judge how others may approach the decisions of how to manage trades from entry to exit.
nooby_mcnoob said:
Many people scale out of positions when it goes their way, others double down.

I'm partial to scaling out though I have not really activated it yet. I automated this past Friday, so let's see if it works out.
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Yes. I use Scaling successfully.

All of this makes for consistently profitable trading using what some may call, "Dynamic Hedging, or Statistical Arbitrage."

Basically, with careful review of the screenshots posted herein, it may be sufficient for anyone, even with a modest account, to do the same.

@nooby_mcnoob and all others that posted -- I am sure you are "on the same page" -- and Yes "Mr. Market," tells us how to do it -- we just act timely with probabilities dictating our decisions. ("Gotta know when to Hold-em and gotta know when to Close-em".)

The obvious question is "How did I know?" Hmmm? (You guys already stated that pre-determined profit targets as well as Scaling targets are the answer.)

Thanks
 
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