Why Is The Obvious Not So Obvious?

What decision would you now make?

1. Cover for approx 0.25 and take $300 (or little more) profit less comms?

2. Hold on to 10 x $19 short puts for another additional max profit of $250?

What was our outlay - risk - % return?

What will the little wiggly worm do next:D

http://i42.tinypic.com/7nh4.jpg
 
ANF

From the mainsteam trader point of view, we have properly retraced to the .618 of the monthly high. 24.17 is the .382 and is a decision point right?
 
I am not enough of a trader to suggest an action regarding your puts. (you can probably tell). My simple mainstream method would have taken a bounce off the .618.
 
Quote from RainMann:

I am not enough of a trader to suggest an action regarding your puts. (you can probably tell). My simple mainstream method would have taken a bounce off the .618.
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fwiw Sir

drop the bullshit and use your brain - please


Now my mind is closed
 
NYSE asks if anyone thinks there is further upside.

I respond that it looks to me like it hit a strong resistance point. But all I have to go on is the mainstream point of view.

Trade what you see. That is all I see.

I post too much. ( I feel the heads nodding...)

I will sleep and let some real work go on here.......


RM
 
Quote from nysestocks:

What decision would you now make?

1. Cover for approx 0.25 and take $300 (or little more) profit less comms?

2. Hold on to 10 x $19 short puts for another additional max profit of $250?

What was our outlay - risk - % return?

What will the little wiggly worm do next:D

http://i42.tinypic.com/7nh4.jpg
More...

If you had the cash to buy the stock I would hold onto the puts. They will more than likely expire worthless, for the buyer that is.
 
Quote from Redneck trader:

Jim,

You can call me RN, you can call me asshole, or a mindless nitwit… you can call me anything you like – but teacher – please Sir


You and the mkt are your best teacher



Now to answer your question

Some answers are right for you – and wrong for me

Some answers are right for me – and wrong for you

It can be no other way


But does that make them any more right or wrong – Sir

You will know when the answer is correct




I dare say my mind is open as I write this

Gotta go
RN
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Sorry for calling you a teacher, it won't happen again. :)

I get it that what works for one may not work for the other. I am here to discover the one thing that will help me the most, and that is the 'obvious'.

I am presuming, notice I didn't say ASSuming, that the 'obvious' is a specific action that must be taken by me, the trader, to 'easily' take money from poor schmucks, like me currently. If the 'obvious' is nothing more than 'do what works for you', then I guess I already know the 'obvious'.

This thread has already caused me to analyze my trading and I have made some changes which I think will greatly improve my bottom line.

One thing I am doing now is trading alot smaller size while I am in the process of getting back on track, or maybe not back on track but just getting on the track. :)

Have a good one.
 
Quote from duhmentor:

There is a way to know. Your trading account balance will tell you if you have the correct answer.

If you are not achieving the goals you set for yourself then you have to take a long hard look at your trading and determine why.

Step back and evaluate your trading. Don’t ask why the market is doing this or that. Ask why am I doing this or that.

If what you are doing isn’t working then stop doing it (how obvious is that?) and do something different. Keep eliminating the things that don’t work.
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What you say is so true. I think you just stated the 'obvious'.

I'm gonna print this.
 
Quote from nysestocks:

Second last post.

You know my take on our Education system;

"dint of the lash >> so many asses layden with books"

The key word is "espouse" - like all the books written by the wise, the purpose, for me at least, is that you have to "actually" have a "real interest" in what you are doing.

Maybe this is more familiar to some;

"Half the job is liking what you do"

To "show" someone is to do them an injustice - to arouse interest in someone is to help them help themselves!
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It is better to teach a man to fish than to give him a fish. He can then eat for his entire life. Is that the point you were trying to get across with the Picaso?
You are teaching us to fish to make us self sufficient.
Picaso had a real interest in painting.
 
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