Stock Market

[Psycnosis]

Re: I THINK I AM GOING TO VOMIT

lolrof, join the club. I used to play like you looking for the "grand slams" now I just make my 3-5points a day. A lot less stress then looking for the big one. It would of been nice but you can't play on luck and if you let your emotions run your trading goto Vegas and have more fun, at least you will have fun losing. I leave money on the table in 90% of my trades, oh well it's better then losing right 3-5 a day with good money mgt and you will be at 300k in 1 year then in 3 making 1mill a year on 20 contracts.

I HAVE 500 SHARES OF OSIP. THEY WENT UP ~52.00 PER SHARE TODAY. I BOUGHT THE SHARES AT 30.00 EACH. THEY ARE NOW WORTH 91.10 PER SHARE.
I SOLD 35.00 COVERED CALLS ON THEM LAST WEEK! AHHHHH ERRRRR

 

[steveny]

Re: Re: I THINK I AM GOING TO VOMIT

lolrof, join the club. I used to play like you looking for the "grand slams" now I just make my 3-5points a day. A lot less stress then looking for the big one. It would of been nice but you can't play on luck and if you let your emotions run your trading goto Vegas and have more fun, at least you will have fun losing. I leave money on the table in 90% of my trades, oh well it's better then losing right 3-5 a day with good money mgt and you will be at 300k in 1 year then in 3 making 1mill a year on 20 contracts.

???????? If I were playing for the grand slam I would not be selling covered calls. ????????

 

[O-Ace]

Re: Re: Re: I THINK I AM GOING TO VOMIT

???????? If I were playing for the grand slam I would not be selling covered calls. ????????

I think Ryan's point was, you shouldn't beat yourself over this trade at all. You planned the trade, and acted according to plan. Good trade. I know it's easier said than done.

-awais

 

[NemesisX]

Re: Re: Re: I THINK I AM GOING TO VOMIT

???????? If I were playing for the grand slam I would not be selling covered calls. ???????? [/QUOTE

Exactly!!! Thats not the aim of the game selling calls/buying puts.

Sorry to hear about your miss Steve, I KNOW that had to hurt.

shake it off....tomorrow is another day and another chance......

hope that helps

 

[NemesisX]

Re: Re: Re: I THINK I AM GOING TO VOMIT

???????? If I were playing for the grand slam I would not be selling covered calls. ???????? [/QUOTE

Exactly!!! Thats not the aim of the game selling calls/buying puts.

Sorry to hear about your miss Steve, I KNOW that had to hurt.

shake it off....tomorrow is another day and another chance......

hope that helps

 

[Psycnosis]

Re: Re: Re: Re: I THINK I AM GOING TO VOMIT

That's it, I catch all the tops and bottoms because I counter trade and you bet your ass that I have closed a trade at +3 only to see it got 20-50 more that day. Also I have been stopped out at the high / low of the day. If the worst thing you have is leaving money on the table, most would want to have your problems.

I think Ryan's point was, you shouldn't beat yourself over this trade at all. You planned the trade, and acted according to plan. Good trade. I know it's easier said than done.

-awais

 

[steveny]

Re: Re: Re: Re: Re: I THINK I AM GOING TO VOMIT

That's it, I catch all the tops and bottoms because I counter trade and you bet your ass that I have closed a trade at +3 only to see it got 20-50 more that day. Also I have been stopped out at the high / low of the day. If the worst thing you have is leaving money on the table, most would want to have your problems.

Or...
In the words of my grandfather, "no one has ever gone broke making a profit."

 

[O-Ace]

Re: Re: Re: Re: Re: Re: I THINK I AM GOING TO VOMIT

Or...
In the words of my grandfather, "no one has ever gone broke making a profit."

...after commissions

 

[steveny]

Re: Re: Re: Re: Re: Re: Re: I THINK I AM GOING TO VOMIT

...after commissions

I really should be happy as I did make 4k+ selling the cc's. It just sucks when I think about the 33k+ that got away. That is like a free 91-93 NSX in excellent shape.

 

[Psycnosis]

Re: Re: Re: Re: Re: Re: Re: Re: I THINK I AM GOING TO VOMIT

Ya that does suck, I played some during Sept 11th, missed 1,000's $ a day when we had 80 point moves in the ES and I took 3 lol

I really should be happy as I did make 4k+ selling the cc's. It just sucks when I think about the 33k+ that got away. That is like a free 91-93 NSX in excellent shape.

 

[NemesisX]

Why hasnt the fed raised rates???

I think they are seeing something that they arent telling us........


any thoughts?

 

[Psycnosis]

Re: Why hasnt the fed raised rates???

Ya, it still sucks out there. The job market and unemployment as well. I work at a bank so I see what's going on a little, in fact the fed was there today Anyway things are NOT getting better out there people just took on a lot more debt getting car's at 0% and doing the 10 years no intrest on stuff

I think they are seeing something that they arent telling us........


any thoughts?

 

[NemesisX]

Re: Re: Why hasnt the fed raised rates???

Ya, it still sucks out there. The job market and unemployment as well. I work at a bank so I see what's going on a little, in fact the fed was there today Anyway things are NOT getting better out there people just took on a lot more debt getting car's at 0% and doing the 10 years no intrest on stuff

I definatly have to agree with you Psy, I cant get over the rethoric about inflation and how rosy the economic landscape is. I think they are keeping rates low because they see something that most arent.

 

[DONYMO]

I disagree

I work for a recruiting firm.
I am a software developer there, but I deal with the owners alot in my job.

Our company, in the last 6 months, has experienced hiring activity from companies that is equal to the pace of 3 years ago...before 9/11 and before the internet bubble burst and all the IT jobs were lost.

Recruiting companies have a much better feel for the pulse of JOB market than most other companies.

So, I disagree. Things really are improving in our ecomomy. Perhaps the job market you're in is not hiring strongly, but MANY other industries are hiring aggressively right now.

 

[Psycnosis]

Re: I disagree

I think the job market is getting better but I still think people are taking on a lot of debt. People lost there ass from 2000- 2003 and what took 3 years to lose will take 7-10 years to makes back. I like to look at how long business is doing the xx months no payments to see how bad some are.

I work for a recruiting firm.
I am a software developer there, but I deal with the owners alot in my job.

Our company, in the last 6 months, has experienced hiring activity from companies that is equal to the pace of 3 years ago...before 9/11 and before the internet bubble burst and all the IT jobs were lost.

Recruiting companies have a much better feel for the pulse of JOB market than most other companies.

So, I disagree. Things really are improving in our ecomomy. Perhaps the job market you're in is not hiring strongly, but MANY other industries are hiring aggressively right now.

 

[NemesisX]

OK.....How have people been doing lately....

What a nice buying spree at 10:40 pdt!

 

[steveny]

I have been loading up on options down here looking for a bounce.

 

[NemesisX]

I have been loading up on options down here looking for a bounce.

Hellova bounce

 

[Psycnosis]

Right off of the 200MA. The boys are pros lol

 

[steveny]

Right off of the 200MA. The boys are pros lol

I was waiting for it to get near the 200dma before i started to buy. tomorrow will be the real test to see if it holds. Looking for a pay day by may expir.

 

[Psycnosis]

Ya, you always have to see where the boys are looking to put this thing, I think 1100 will hold it down and they just squezed the shorts into the close.

I was waiting for it to get near the 200dma before i started to buy. tomorrow will be the real test to see if it holds. Looking for a pay day by may expir.

 

[lemansnsx]

testing strategies?

I've been following this thread with great interest, I've read a couple of the Williams books and I've gone through the Tradestation demo disk.
Now, how do you guys test your strategies? Any pointers on the best way to proceed? Ideally I suppose I should just pony up for the Tradestation account and do my testing that way but I'd like to put that off just a little longer and do some testing for free if possible.

 

[Psycnosis]

Re: testing strategies?

Great! Glad to see someone putting in time, If I were you I would goto www.avidtrader.com sign up for the free chat and read what they say. The people there are pros and it's free.

I've been following this thread with great interest, I've read a couple of the Williams books and I've gone through the Tradestation demo disk.
Now, how do you guys test your strategies? Any pointers on the best way to proceed? Ideally I suppose I should just pony up for the Tradestation account and do my testing that way but I'd like to put that off just a little longer and do some testing for free if possible.

 

[O-Ace]

Use a simulator and paper-trade Live.

-Awais

 

[Ryanmcd2]

So everyone gave up on the market already?