The ACD Method

Im double all in long right now from 1974 on the ES, looking for gap to 1987 on monday to make the trade free, what do you guys think? Figure my prop firm already stole 75% of my money so i may as well kiss off the rest. :D

Going to be a pretty restless weekend, hopefully this isnt me on monday.....

 
Max E. Pad said:
Im double all in long right now from 1974, looking for gap to 1987 on monday to make the trade free, what do you guys think? Figure my prop firm already stole 75% of my money so i may as well kiss off the rest :D hopefully this isnt me on monday.....

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Max, flys are much better way to buy this dip right now then outrights.
 
Maverick74 said:
Max, flys are much better way to buy this dip right now then outrights.
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Yeah, ive got to look at learning options especially now that my buying power is going to be a little light for the next little while, but my thought process on the trade is that there is no way we blow through this 1970 area before we touch 2000, so im looking to make the trade free at 1987 then see what happens with the rest.

I was buying the sandp all day today and believe it or not i made a thousand bucks, but alot of heat, and really good trading, i really should have just sold the second the first bounce failed. Listening to CNBC all day today i wanted to hang myself, sounds like someone shot somebodys dog or something, lol.
 
Max E. Pad said:
Yeah, ive got to look at learning options especially now that my buying power is going to be a little light for the next little while, but my thought process on the trade is that there is no way we blow through this 1970 area before we touch 2000, so im looking to make the trade free at 1987 then see what happens with the rest.

I was buying the sandp all day today and believe it or not i made a thousand bucks, but alot of heat, and really good trading, i really should have just sold the second the first bounce failed. Listening to CNBC all day today i wanted to hang myself, sounds like someone shot somebodys dog or something, lol.
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Yeah learn options. LOL. With the fly, the market is paying you to get long, you might as well take the money.
 
Maverick74 said:
Yeah learn options. LOL. With the fly, the market is paying you to get long, you might as well take the money.
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This ES is really frustrating ive shorted the highs like 5 times and taken it for 10-20 points just thinking we were in chop, then this week i was looking at the ES at night at 2100 on Tuesday thinking i was going to start legging in short again but it gapped down on wednesday and i didnt chase, so obviously it proceeds to hemorhage for 130 points, lol.
 
OneFive said:
Reminds me of "Goin' to da Show Wit' da Regular Guy". The background noise on the exchange ain't what it used to be.
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He is like a Chicago version of Oscar Carboni, there are some characters out there.
Glencore should hire him as risk manager!!
 
Mav,

Dont usually follow options, is getting a net credit telling you anything here or is this normalish. Also curious at your thought process for putting it on. Seems like there's limited profit potential with these.
 
DT3 said:
Mav,

Dont usually follow options, is getting a net credit telling you anything here or is this normalish. Also curious at your thought process for putting it on. Seems like there's limited profit potential with these.
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No,there is no net credit. What I mean by paying you is that the market is discounting price through higher volatility (vols rise...fly prices fall). The payoffs on these are very attractive and produce a far better p&l profile then simply long the underlying. In fact the only time flys are really attractive is obviously in high volatility situations.

BTW, you can't put a fly on for a credit. No one would sell that to you. :)
 
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