How 'bout that stock market?

[robr]

After 10 years of doing this, 5+ fulltime I will say the biggest 2 things I found are

1. Manage your emotions
2. Have a Risk plan and follow it, I do $4 profit for $1 a risk and win over 50%.


Read this if you want to see how I trade, it's over 60 pages and someone took the time to put all my posts into a Ryanmcd.doc. and now others trade the way I do..

http://www.forexfactory.com/showthread.php?t=163972

I just read about 10 pages of that thread as well as Ryan's word doc that was attached to one post. I don't think I understood a single term in anything I read. I dunno how you guys learn this stuff! I spent a lot of time reading links that Steveny has thrown at me and I don't even get much of that... Forex is like speaking in ancient Sumerian.

 

[steveny]

I just read about 10 pages of that thread as well as Ryan's word doc that was attached to one post. I don't think I understood a single term in anything I read. I dunno how you guys learn this stuff! I spent a lot of time reading links that Steveny has thrown at me and I don't even get much of that... Forex is like speaking in ancient Sumerian.

same here I can not figure out that forex crap at all and I have spent hours on the phone with ryan, well we don't always talk about forex. I think he gave up on training me months ago. I get the idea of how to trade I just can't see the trade set ups. I have used practice accounts and promptly lost 50k in a few days so I won't be trading forex any time soon.

 

[robr]

same here I can not figure out that forex crap at all and I have spent hours on the phone with ryan, well we don't always talk about forex. I think he gave up on training me months ago. I get the idea of how to trade I just can't see the trade set ups. I have used practice accounts and promptly lost 50k in a few days so I won't be trading forex any time soon.

That makes me feel a little bit better. It just kills me, I'm extremely logical and mathmatically inclined, this seems like it's all logic and numbers, but I can't wrap my head around any of it. It's like my first stack based programming language. I simply did not understand manipulating stacks no matter what.... then one day... CLICK. I just suddenly "got" it. Maybe there's something like that around here somewhere .

 

[Ryanmcd2]

Maybe I will setup something but the problem is now I have been doing it so long I talk in Forex terms, Just like when I talk to Steve about a short sale, I have no damn clue lol. If you want I can post in here what I do or any terms you have questions about I will be glad to help. It's like stocks to be honest or any other market just

pip = price, such as the EUR/USD is @1.4136 right now, +20 pips is 1.4156
SL = Stop Loss
SU = Solid up day
SD = Solid down day



ALSO find out what a "pinbar" is, it's a type of bar that I trade and works well, to me trading is like cards I want a rich deck before I place a trade, good price action, trend, divergence +++

 

[slimjim935]

Do we share advice in this thread on what everyone is currently investing in?

(Just curious)


I know the market isnt "Recovered" yet and will eventually probably go back down a bit... but what stocks / funds do you guys like that you think there is money to be made with?

 

[steveny]

Maybe I will setup something but the problem is now I have been doing it so long I talk in Forex terms, Just like when I talk to Steve about a short sale, I have no damn clue lol. If you want I can post in here what I do or any terms you have questions about I will be glad to help. It's like stocks to be honest or any other market just

pip = price, such as the EUR/USD is @1.4136 right now, +20 pips is 1.4156
SL = Stop Loss
SU = Solid up day
SD = Solid down day



ALSO find out what a "pinbar" is, it's a type of bar that I trade and works well, to me trading is like cards I want a rich deck before I place a trade, good price action, trend, divergence +++

And you trade the trend too right?

 

[Ryanmcd2]

And you trade the trend too right?

Sometimes, it depends on the trend of the day. I watcht he bollinger bands to get a idea of it's trending or not, if price is on the top or bottom of the band and the mid line keeps it in the trend such as support or resistance then I know we have a trend, also I set the BB to 18/2 on the 3-5min charts.

 

[steveny]

Free money for anyone who wants to sell calls on AIG, this biotch is coming down. Just sold the 30's TIMBERRRRRRR

 

[Ryanmcd2]

Free money for anyone who wants to sell calls on AIG, this biotch is coming down. Just sold the 30's TIMBERRRRRRR

35 is resistance, 43 or higher I would worry

 

[Ski_Banker]

35 is resistance, 43 or higher I would worry

+1 I thought the same thing when I looked at the chart. Particularly since AIG is purely a technical/sentiment trade -- you can't put a value on a gov't run business that can practically disclose anything it wants in the quarterlies. Same issue with Citi, but probably not as bad.

 

[Danny]

That makes me feel a little bit better. It just kills me, I'm extremely logical and mathmatically inclined, this seems like it's all logic and numbers, but I can't wrap my head around any of it. It's like my first stack based programming language. I simply did not understand manipulating stacks no matter what.... then one day... CLICK. I just suddenly "got" it. Maybe there's something like that around here somewhere .

Rob - Just out of curiousity do you sell calls on any of your long positions? PM me if you don't....:wink:


Steve - shhhhhhhhh

 

[steveny]

Rob - Just out of curiousity do you sell calls on any of your long positions? PM me if you don't....:wink:


Steve - shhhhhhhhh

I have already talked to him about it.

I swaped that AIG call spread in and out 11 times today!!!

Made some good loot today.

Off to the dinner cruise, 4th anniversary.

 

[Danny]

I have already talked to him about it.

I swaped that AIG call spread in and out 11 times today!!!

Made some good loot today.

Off to the dinner cruise, 4th anniversary.

Talked to him about it - and is he doing it? Did he get it?

OHhhhhhhh, nice job playing hookie today :biggrin: you'll pay for it tomorrow :wink:

Happy Anniversary to you and Renee!

 

[steveny]

Talked to him about it - and is he doing it? Did he get it?

OHhhhhhhh, nice job playing hookie today :biggrin: you'll pay for it tomorrow :wink:

Happy Anniversary to you and Renee!

Rob needs to set up options on his account.

 

[Danny]

Rob needs to set up options on his account.

Gotcha.....and then he can make loads of money :tongue:

Rob get off your ass and get your account set up for options. :wink:

 

[robr]

Happy anniversary Steve and Renee!! My 7th anniversary was Monday.

I have the form in front of me, I assume I want #2?

1. Covered Option writing
2. 1+ Purchasing options (puts/calls)

and I don't have a margin account so I can't do
3. 2 + spreads, straddles, covered combos
4. 3 + uncovered equity options/combos

 

[Danny]

Happy anniversary Steve and Renee!! My 7th anniversary was Monday.

I have the form in front of me, I assume I want #2?

1. Covered Option writing
2. 1+ Purchasing options (puts/calls)

and I don't have a margin account so I can't do
3. 2 + spreads, straddles, covered combos
4. 3 + uncovered equity options/combos

To get started yes, #2 works......I have a spreadsheet I created that helps me evaluate and track my covered trades....PM your # if you'd like to talk and I'll walk you through it. I learned from the master :wink:

 

[robr]

To get started yes, #2 works......I have a spreadsheet I created that helps me evaluate and track my covered trades....PM your # if you'd like to talk and I'll walk you through it. I learned from the master :wink:

As soon as I have options turned on, I'll take you guys up on it . I faxed in the form this morning, hopefully it's something they'll process quickly.

 

[Danny]

As soon as I have options turned on, I'll take you guys up on it . I faxed in the form this morning, hopefully it's something they'll process quickly.

Usually takes 2 days to get setup which is fine because options expire today so the market is acting all stupid :tongue: so it's not a good day to be buying anything. Next week we'll see some pullback so it'll be better to initiate new positions. PM me a list of your current long positions, # of shares and your cost basis.

 

[steveny]

Usually takes 2 days to get setup which is fine because options expire today so the market is acting all stupid :tongue: so it's not a good day to be buying anything. Next week we'll see some pullback so it'll be better to initiate new positions. PM me a list of your current long positions, # of shares and your cost basis.

It better pull back or my tza is going to crush me.:frown:

 

[Danny]

Ok now seeing Citi hitting 4.86 this morning you had to think short covering? I truly believe we'll see downward pressure next week. A lot of stuff I have or have been watching has moved 30% just this week alone, pullback (even if a short one) is going to come. I'm shocked the market hasn't dipped red yet but at this point we probably won't see it today.

Hang tight....this reminds me of your FSLR short last year :biggrin:

It better pull back or my tza is going to crush me.:frown:

 

[steveny]

Ok now seeing Citi hitting 4.86 this morning you had to think short covering? I truly believe we'll see downward pressure next week. A lot of stuff I have or have been watching has moved 30% just this week alone, pullback (even if a short one) is going to come. I'm shocked the market hasn't dipped red yet but at this point we probably won't see it today.

Hang tight....this reminds me of your FSLR short last year :biggrin:

Oh man I would be up hundreds of thousands if I held that POS FSLR.

Short covering and pinning is what today is all about. I have 4k TZA at 15.85. OUCH.

 

[Danny]

Oh man I would be up hundreds of thousands if I held that POS FSLR.

Short covering and pinning is what today is all about. I have 4k TZA at 15.85. OUCH.

I'm shocked you'd even sweat this one, down only 8k.....You had balls of steel during that FSLR trade.....I couldn't sleep for you during that one

 

[steveny]

I'm shocked you'd even sweat this one, down only 8k.....You had balls of steel during that FSLR trade.....I couldn't sleep for you during that one

Less "play" money than I had before and I just bought that set of townhouses. Not feeling like losing money right now but may have too. There is resistance at 14.50 on TZA. It may be tough to get back up to "break even"

 

[Danny]

Less "play" money than I had before and I just bought that set of townhouses. Not feeling like losing money right now but may have too. There is resistance at 14.50 on TZA. It may be tough to get back up to "break even"

Play money?!?!? Dude that FSLR trade was the size of several countries GDP :biggrin: