Do you have any more add on levels? and if so what is the next one?
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
"The only way to trade with Fibonaccis" journal
- Thread starter 1a2b3cppp
- Start date
Quote from Took2Summit:
Do you have any more add on levels? and if so what is the next one?
Going to start buying SSO when SPY gets to 105 or 100. I haven't decided which price level quite yet. I have to do some math this weekend.
I'm going to use SSO because I don't have enough money left in my account to buy enough SPY without using margin, and I don't want to use margin.
SSO is much cheaper and double weighted so it will be a good proxy for SPY, yet will cost me less for an equivalent position. The only sacrifice will be dividend.
looks like your taking some crushing losses... whats going on?
Quote from konviction:
looks like your taking some crushing losses... whats going on?
I haven't closed anything out so I haven't taken any losses, much less "crushing" ones. In fact, while I'm currently drawn down about $40k, it's really only $30k because of my hedge, dividends, and previously closed hedge positions.
When this trade gets closed, it will likely be in the low to mid 5 figure range of profit.
Maybe you're confused by how I'm keeping track of everything.
Let me break it down for you:
SPY -$40,470.00 <--- this is the current drawdown of the open position
hedge $4,688.97 <---- this is the current gain/loss of the open hedge
Net for this trade:
-$35,781.03 (unrealized) <--- this is the sum of the two above
+$1,223.60 (realized) <--- this is locked in profits from part of the hedge I closed before
+$2,931.69 (realized) <--- this is locked in profits from part of the hedge I closed before
+$1,129.72 (dividend) <--- this is locked in profits from the SPY dividend I was paid
------------------------
-$30,496.02 <--- this is the current P/L of the open position. It is the sum of the SPY position + the hedge + all the locked in gains above. It is my current draw down on the position.