Trading for a Living - the journey to self discovery

Quote from traitor786:

ok im not sure if i should be posting here.. but here is a some thing new I've been working on , so its may be off. but if your trading the spy tomorrow then would be good to have a look just in case it shows any validity
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Hey T786...

Anyone is welcome to post here; thanks for dropping by.

I'm not sure what you are talking about or referring to. I rarely trade the SPY or Q's or DIA's. However, it is looking like it will either bounce or breakdown...I'll take whatever it gives me.

Good luck
 

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Quote from Th3UglyTruth:

What to do with earnings coming up...$364.92 closed on Friday; broker previous high by $0.02.

Options don't look as cheap as they were in June; grrrr...to let those Jan 375's go too early! Another train is what I want to tell myself!

Seems like we only have a few options...
- play the earning pop (assuming there will be one) by purchasing Aug calls
- play the follow thru

At tipping point?
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To think I let go of those Jan 375's and Aug 420's too early! OMFG!

AAPL OBLITERATED the highest estimates! We have just begun! Come on Wall Street...continue to misprice it!

http://allthingsd.com/20110719/monster-earnings-from-apple/
 
Burpp...not sure what to make of NFLX puts...keep it or roll over. Sweet AF move.

JCP following the script as planned.

AAPL trying to break $400...lets go choo choo....

Eyes set on LNKD short....

Debt ceiling? of course it will be lifted! On vacation. Will post more....

ui
 
Based on my experience, the more volume you trade, the more you lose... luckily you seem like an experienced trader who makes money. Wish I could say the same about me...
 
Quote from Kazak_Trader:

Based on my experience, the more volume you trade, the more you lose... luckily you seem like an experienced trader who makes money. Wish I could say the same about me...
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KT...take this with a grain of salt as I'm not an "expert"; I'm only sharing my own personal experience with the hopes it helps someone else...

RE: I wish I could say the same about me...
- Go over the past 10 trades that didn't make you money and ask yourself why you got in and why it went sideways. If you are honest with yourself, you should have an "aha" moment.

RE: more volume you trade...more you loose
- the two are not correlated. However, the bigger the position (dollar wise), the more it plays with your fear/greed.

RE: luck
- yup, you need that sometimes. But most of the time, you create your own "luck".

Let me embarrass myself here...

I've been upfront about being short NFLX. $284 was my last tranche prior to today. I didn't cover today (when it bounced off the $252 trendline drawn days ago!); instead, I added another stream at $266.25. Greedy? I can be guilty of that...

What was I thinking? With current position (plus put options) in the black; I know I'll need to bail in the $280ish range. $245 is my target to close my short; hence, adding another tranche today, IMHO, was not very disciplined of me (risking $20ish to make $20ish of a downside)...

Take it with a grain of salt...as this could bite me tomorrow and I'll end up with a bit of profit or more change for a happy meal...
 

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Quote from Th3UglyTruth:

Buy Stop placed at $33. Looking at $29.65 to close position if it bounces. IF not, we will continue to hold the short position.
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Closed JCP short at $31.25; got impatient waiting for the grass to grow.
$1500 net.
 
Speaking about disciplines...or the lack of.

My first big mistake. Entry was crappy as I didn't wait for it; exit was crappier with too tight of a stop. Even worse was trading a stock out of my watchlist...what was I thinking?

Never again! $2100 loss...:mad:

Bottom fishing ain't too cool...when you don't know where the bottom is! Earnings next week to boot!

On the bright side...NFLX is going down as expected and so is RIMM...

Looking to pick up AAPL leaps
 

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Netflix to me seems like it is trading in its long term trend though it has had a fast lower low i would still wait for it to go lower once it hits 240 I would start to short,

but yes in general it has made a lower low relative to its median and it i s due for a break out.

The day of the big drop (maybe in after hours) was a cross of a technical resistance line that was important. but crossing that line does not mean a further fall just and end to the short term uptrend.


I am looking more at the daily chart here. If you are talking about a more short term time frame i would have to double check

On the daily chart i would probably stay wiat for a bounce at 252 or 243. (diagonal sloping lines) we had a great bounce the day of the big fall that i wish i could of bought,

generally, i tend to look more at small time frames. but when saying netflix will drop as expected, i assumed you meant by alot out of a long term trend ending its beutiful upslope.

Its a good time to trade netflix and damn i wish i could !

Im curious do you guys trade netflix through a prop firm or is netflix just too high for prop firm trading ?
 
Quote from traitor786:

Netflix to me seems like it is trading in its long term trend though it has had a fast lower low i would still wait for it to go lower once it hits 240 I would start to short,

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Hello T786...

Everyone's mileage differs. While you may prefer to wait till 240; some of us won't. It appears that it has support at 255ish and that is where I'm intended to cover 3/4's of my short position.

Wildcard here is if the market rallies with the debt ceiling resolution and take this with it; this will purely be a mental stop thing...

Good luck.
 

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Yes I agree, I have been looking less and less at the short term chart trying to find a good way to trade this stock.

the support you mention i do agree with and if i was looking more short term i would probably take some action there.


I'm wondering how you guys are trading netflix? it is high priced and the only way i can see to make some decent money is using a prop firm but am told this stock may be discouraged.

what avenue do you use to make desent money here.

Im also trying to get to lower priced stocks.

elgx at 9.00 looks similar to netflix.
 
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