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Post by cosmic on Aug 12, 2010 15:11:24 GMT -5
Grindy-down day, will need to check in with Green Arrow later, but he's on the ropes lol. I'm keeping him locked up in the Institute for right now. I sold my JAZZ 12.5 calls when I felt they had reached their epicness, which was pretty close to the top, at least for today's action. No other trades. Details of the trade along with charts are here (click the pretty pic): ;D ;D There are tons of price arbs out there. For example, you could buy JAZZ at 10.80 and sell the Aug 10 call for $1.60, and you're guaranteed to make .80 just letting it all expire. You'd only worry if JAZZ loses it's beat. And if it closed less than $10 you still own the shares at a net of 9.20. I added a portfolio allocation in my blog area, which is the general layout of my longer term holdings by %. You may find it interesting for comparison. Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of smileys!
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Post by bellevuetrader on Aug 12, 2010 15:15:26 GMT -5
Bought FAS today at $20.00....no other trades! GLTA
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Post by timber on Aug 12, 2010 15:21:32 GMT -5
:-*sold dgp no other trades
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Post by benvestor on Aug 12, 2010 15:29:51 GMT -5
NVDA papertrade doing well.. tally one for the gut call ;D
This stock been cut in half since the top.. the chip sector is getting crushed..many analysts are going bearish on it..
I saw an enormous amount of calls on the stock, plus it had a lot of short interest.. was risky, but it was just for fun.. I prob would have went with half this position in real cash
I don't see Friday as being an epic event, so i think i will hold for a bit..will sell right around 10.15 if it breaks 9.65ish..
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Post by brosin on Aug 12, 2010 15:32:16 GMT -5
Added my 2nd of up to 5 entries on the few month FAS trade.
Avg now $20.82
Played some RayGun EOD @ $.17
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Post by ask2lern on Aug 12, 2010 15:39:51 GMT -5
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Post by ask2lern on Aug 12, 2010 15:46:24 GMT -5
Traded SPY AUG 112 PUT's early round large position for +3% ..........................late day flip for +11% on medium position ..................Still holding SDS,AIB and Cash in trading account.................still holding SH in LT accounts in addition to LT plays..............................Exalt for Cos.....................Live to trade another day.............................GLTA Oh and reviewing my trades I see I got filled on a BAC $10.00 CALL JAN 2112 for 4.50................only 10 contracts and pleanty of time..................figured I better get Jan so I can spend the money before Dec 2012 LOL........................GL
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Post by demanuel2001 on Aug 12, 2010 15:48:03 GMT -5
Very solid up day - entirely on the strong upward move by LVS. Did a scalp and sold back the extra LVS shares I bought yesterday.
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Post by brosin on Aug 12, 2010 15:52:34 GMT -5
Traded SPY AUG 112 PUT's early round large position for +3% ..........................late day flip for +11% on medium position ..................Still holding SDS,AIB and Cash in trading account.................still holding SH in LT accounts in addition to LT plays..............................Exalt for Cos.....................Live to trade another day.............................GLTA Oh and reviewing my trades I see I got filled on a BAC $10.00 CALL JAN 2112 for 4.50................only 10 contracts and pleanty of time..................figured I better get Jan so I can spend the money before Dec 2012 LOL........................GL Nice Ask, buying that 2112 Call for your Great Great Grandchildren? That's some LT investing right there! LOL ;D
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Post by Rich on Aug 12, 2010 16:22:44 GMT -5
Bought some HPQ. Will add on weakness. I'm ready for summer to be over, now. c'mon snow!
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Post by blueskies on Aug 12, 2010 16:25:03 GMT -5
I'm my own worst enemy... I plan a trade and then get out with a small profit only to see it go EXACTLY where my original intent was....
how do you all deal with that? I am so afraid of losing money, that I don't let the winners run. Had three winners today (wheat long and short, 5 year note short, and euro that was all screwed up cuz I saw a long and went short for some idiot reason and got stopped out) anyway got out with small profits only to leave about $1,500 on the table.
I'm depressed about this. I SEE the trade so clearly, execute it well, then get OUT before my planned exit. Only to watch it go JUST WHERE I THOUGHT IT WOULD.
HELP!!!!!!!!!!!!! blue
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Post by Rich on Aug 12, 2010 16:29:23 GMT -5
I'm my own worst enemy... I plan a trade and then get out with a small profit only to see it go EXACTLY where my original intent was.... how do you all deal with that? I am so afraid of losing money, that I don't let the winners run. Had three winners today (wheat long and short, 5 year note short, and euro that was all screwed up cuz I saw a long and went short for some idiot reason and got stopped out) anyway got out with small profits only to leave about $1,500 on the table. I'm depressed about this. I SEE the trade so clearly, execute it well, then get OUT before my planned exit. Only to watch it go JUST WHERE I THOUGHT IT WOULD. HELP!!!!!!!!!!!!! blue yeah, I sold my faz 2 days before the crash...I'm right with you
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Post by sp7015 on Aug 12, 2010 16:35:11 GMT -5
I'm my own worst enemy... I plan a trade and then get out with a small profit only to see it go EXACTLY where my original intent was.... how do you all deal with that? I am so afraid of losing money, that I don't let the winners run. Had three winners today (wheat long and short, 5 year note short, and euro that was all screwed up cuz I saw a long and went short for some idiot reason and got stopped out) anyway got out with small profits only to leave about $1,500 on the table. I'm depressed about this. I SEE the trade so clearly, execute it well, then get OUT before my planned exit. Only to watch it go JUST WHERE I THOUGHT IT WOULD. HELP!!!!!!!!!!!!! blue yeah, I sold my faz 2 days before the crash...I'm right with you I feel both of you. I sold my aapl weekly calls that I had from yesterday early this morning at gap fill and went short via puts. I then got stopped out on my puts and aapl kept climbing. Hence loosing more money and my portifolio down a bunch since 2 days ago. I would have done better sitting on my hands and wait to see if the calls gained more value. I am a freaking idiot!! Kind of bumed.
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Post by timber on Aug 12, 2010 16:38:43 GMT -5
I'm my own worst enemy... I plan a trade and then get out with a small profit only to see it go EXACTLY where my original intent was.... how do you all deal with that? I am so afraid of losing money, that I don't let the winners run. Had three winners today (wheat long and short, 5 year note short, and euro that was all screwed up cuz I saw a long and went short for some idiot reason and got stopped out) anyway got out with small profits only to leave about $1,500 on the table. I Left a lot on the table too blue....but im so afraid of losing that i sell ....its much better than a loss though I'm depressed about this. I SEE the trade so clearly, execute it well, then get OUT before my planned exit. Only to watch it go JUST WHERE I THOUGHT IT WOULD. HELP!!!!!!!!!!!!! blue
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Post by blueskies on Aug 12, 2010 16:40:28 GMT -5
So Rich and SP how do we deal with this? I never had this problem... of course I had a big cushion, now if something bounces a little and I am down $25 I get out. Only to get back IN again. Maybe this is another thread... Emotional Aspects of Trading... fear of losing (one's shirt). GL to both of you , but we SHOULD have "Psychology of Trading" sticky or something. I am almost too scared to trust my judgment and watch piles of money go uncollected by me. blue is blue
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Post by timber on Aug 12, 2010 16:43:50 GMT -5
its much better than losing blue....it might take time if you lost a bunch once
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Post by blueskies on Aug 12, 2010 16:45:49 GMT -5
Timber, you are right... I am really good at cutting my losses these days... but I am also cutting my GAINS... which i NEVER used to do.
Total fear. Not like me at all.
I keep thinking small gains will give me my confidence back, but damn it's hard to see what I could have made if only I had stuck with the original plan.
best to you Timber, we are all in this together.
blue
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Post by kingdisco on Aug 12, 2010 16:45:57 GMT -5
Bought some HPQ. Will add on weakness. I'm ready for summer to be over, now. c'mon snow! muahhah. then we enter the DREARY FALL SEASON. isn't october a bad month usually? lololololololol
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Post by tajmahal9898 on Aug 12, 2010 16:54:53 GMT -5
It was nice to see cashfilly on the mb.. brings back old memories...good to see she hasn't lost her touch.. I will remember her quote for a long time "i call the market like a breathing animal...when she inhales we go short and exhales I go long"Mixed day -- 80% invested all long.. some of the long positions are not my choice but accidental New Position: Long 30K CENX shares at 9.84 (average).. still holding -- today L/P: ~9K overall L/P ~9K Long 31K AMAT shares at 12.31 -- today L/P: (~1.5K) overall L/P: (~35K) Long 50K ATEC shares at 2.61 -- today L/P: (3.5K overall L/P: (25K) overall up day (all unrealized) but need to recover 60K unrealized loss.
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Post by bellevuetrader on Aug 12, 2010 16:55:38 GMT -5
Blue- Funny you mention that...I held my short FAS position from $21-$24+ and then rode it back down to the 20's....only made a couple hundred on it, but if I would have held it I could have made another 1-2k. I guess just be happy you didn't take a loss Limit Sell orders work well too!
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Post by blueskies on Aug 12, 2010 17:06:28 GMT -5
Blue- Funny you mention that...I held my short FAS position from $21-$24+ and then rode it back down to the 20's....only made a couple hundred on it, but if I would have held it I could have made another 1-2k. I guess just be happy you didn't take a loss Limit Sell orders work well too! yes, bellevue, i hear ya... we all know what we are capable of... then we have a "failure to launch" or something... we KNOW intuitively what to do or NOT do, yet disregard the intuition. At least I do... sorry cosmic... this is another thread... blue
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Post by torrentio1 on Aug 12, 2010 17:09:02 GMT -5
I checked in with the market a couple times this session. The session did not quite go exactly as expected but it was close enough -I think it was the interim bottom -tomorrow should confirm or drive me whacko... Anyway, I saw a market consolidating down portfolio up session. Hope all did well!!! ;D ;D ;D ;D
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Post by Dualism on Aug 12, 2010 17:10:40 GMT -5
Blue,
I think this problem of leaving money on the table by locking profits too early, or letting losses run us into the ground in hope that the trade will reverse in one’s favor is clearly shared by all traders.
Here are a few of my thoughts:
1- Close out positions either at market close or open. Reason is prices seem to trend most days. Maybe place MOC if possible. Note how Ask enters into many of his long SPY put positions right before 4:15PM cut off.
2- Use trailing stops and if you are taken out be okay with it. If the market is strongly trending, then it is likely you will get a good ride before stopping out.
3- My favorite: Buy an insurance option contract that has 1.5 to 2 months life. Then be patient for a counter trade to develop. With insurance in place, you are more likely to let a winning trade run. Clearly this requires a little outlay, but if over 1.5 month or so you are given handful of opportunities to trade the counter direction, it may prove very worthwhile.
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Post by Rich on Aug 12, 2010 17:10:57 GMT -5
Blue, when I think a move is immenent (within a couple of days), I roll the dice. If it doesn't play out, or worse goes in the opposite direction, I get out. It's too easy to fool yourself and stay with a trade too long. If you hit it right, you build a little cushion. Then you can afford to lolli-gag a little bit longer....but not much
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Post by demanuel2001 on Aug 12, 2010 17:23:21 GMT -5
So Rich and SP how do we deal with this? I never had this problem... of course I had a big cushion, now if something bounces a little and I am down $25 I get out. Only to get back IN again. Maybe this is another thread... Emotional Aspects of Trading... fear of losing (one's shirt). GL to both of you , but we SHOULD have "Psychology of Trading" sticky or something. I am almost too scared to trust my judgment and watch piles of money go uncollected by me. blue is blue Isn't this the flip side of what I was asking about on Friday? I was asking about how to avoid thinking I was invincible and this is the opposite question. One obvious suggestion is NOT to have so much in play that you feel very insecure - insecurity almost always pushes us to want to react the wrong way in every area of life.
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Post by blueskies on Aug 12, 2010 17:25:30 GMT -5
Thanks Dual and Rich for your wisdom... I used to stay in trades too long, but not anymore... now i dont' stay in them long enough!!
My losses I cut immediately.... now it's my gains I am cutting immediately...
I have a knack for "seeing" a trade, and then don't play it out to it's fruition...
Thanks to all of you for your support and help. Trading a small account is not easy, no margin for error. So maybe I am being smart by taking profits too soon, rather than losses too late.
blue
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Post by timber on Aug 12, 2010 17:49:21 GMT -5
i do exactly what your doing now blue...going no where.....who can blame you though the way the markets are moving....its crazy up and down like this.....i sold my gold long to early also today...oh well practice makes perfect.....million more ways to make money in the maket
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Post by blueskies on Aug 12, 2010 17:54:14 GMT -5
So Rich and SP how do we deal with this? I never had this problem... of course I had a big cushion, now if something bounces a little and I am down $25 I get out. Only to get back IN again. Maybe this is another thread... Emotional Aspects of Trading... fear of losing (one's shirt). GL to both of you , but we SHOULD have "Psychology of Trading" sticky or something. I am almost too scared to trust my judgment and watch piles of money go uncollected by me. blue is blue Isn't this the flip side of what I was asking about on Friday? I was asking about how to avoid thinking I was invincible and this is the opposite question. One obvious suggestion is NOT to have so much in play that you feel very insecure - insecurity almost always pushes us to want to react the wrong way in every area of life. well, i traded my up to being able to trade ONE futures contract... so there is not much in play... but no margin for error either...!
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Post by sp7015 on Aug 12, 2010 17:56:01 GMT -5
Blue it is better to cut losses and take gains than watch losses grow and gains disappear. As far as for me I was on freaking tilt this morning. AAPL weekly's ate my lunch. 50% portolio gone in 2 days of trading. I now will stick to my rules: - Don't hold a large position of weekly's overnight when they were bought for a day trade
- If weekly options position is down more than 10% get out
- Don't go from calls to putts in the same stock in the same day
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Post by cosmic on Aug 12, 2010 19:44:12 GMT -5
So Rich and SP how do we deal with this? I never had this problem... of course I had a big cushion, now if something bounces a little and I am down $25 I get out. Only to get back IN again. Maybe this is another thread... Emotional Aspects of Trading... fear of losing (one's shirt). GL to both of you , but we SHOULD have "Psychology of Trading" sticky or something. I am almost too scared to trust my judgment and watch piles of money go uncollected by me. blue is blue Start a trading blog, and put down what you plan to do and then do it. Promise yourself you'll do what you say. It helps to go back and look at the reasoning at the time for doing particular things. Make the motion mechanical.
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