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Worked for 2x ... now holding VXX calls with the profit for an SPX retrace
Glad I played golf .. read was okay on timing of moves but the 1:30 dip was unseen by my eyes and would have made any trade a loser!
Today I am looking for a market bounce to start around 11:45-12:30 to play VXX puts hoping to exit around 2;30.
Market opened to the upsiade but is retracing ... I'm playing golf, if I wasn't I'd be looking for a 10:45 or 12:15 opportunity to buy VXX puts. I'd be hoping to exit around 2-2:!5
Today's vision ...
one more retrace (SPX) around 3 and a bounce into the close between 3:30 -3:45
(Edit: don't think this bounce is playable on a Wed but would be on Friday)
Tomorrow I want a gap down on the open. If it does, the next move up between 10:30 & 1:00 should be good for VXX puts.
Friday will probably continue the market bounce, if so There may be a good play on VXX calls late in the day
Most excellent!
Thank you, Sir. A double on Tuesday is good enough. If I didn't work on Friday, that might help. You have no idea, how much money I lose out on, by working a day job on Friday. It pays the insurance and is considerably more consistent than my trading.
Real Sweet play on the VXX buddy ...
Too bad it isn't Friday, that would be 5-6 bagger!
Thanks Fred. You are trading VXX the way I always traded BIDU, by waiting until the end of the week. I've made a lot of money on that strategy.
I thought about VXX calls this afternoon at the close ... I didn't because I'm trying to restrict my play to Thurs and Friday, it's a big dif in % rate of return without the added premium buying so far out (5 days is far out!)
I'm still guessing the market goes down for another week or two and see a decent move up start in 3 weeks
Hey Genius, (sorry, just couldn't help myself) How are you feeling about VXX $16 Weekly calls? I picked up 4 near the close for .41. Still have a few $16 monthly calls as well. Not sure I like them, wish I would have sold them all Friday. Work sucks!
Be nice if I could paste and show you, wouldn't it?
If you click on the "+" sign to the left of the put or call it shows more info, including Time & Sales" Depth and a few other things.
lol, what is
the expanded view?
Showoff! I tried every which way but couldn't copy or capture.
Can you show him the expanded view ... I just noticed it also shows "depth", basically level 2.
I'm impressed ... course I am easily impressed ... for example, someone knowing how to copy and paste impresses the hell out of me!
Keep taking those profits, and you'll be wealthier in minimal time.
LOL ... I rely on the two shortest waves on the 10 minute chart ... for the past week the longer of those 2 has been dominant but today the shortest one was in control so I took the money and ran instead of waiting 45 minutes for the next ... ces't la!.
I'm okay with it, I'm trying to be much more disciplined .. I'm not playing for the baggers, I want what I hope is the easy safe money. It should work in my favor over the long run.
If I was holding 20 instead of six I definitely would have kept some.
Edited twice -
I can't capture it ...
Optionhouse shows 10 closest strike prices with bid, ask, Last, bid size, ask size, change, delta and open interest all live. Also allows me to watch my selected indicators live.
You launch your trade by simply clicking on what you want for strike with put or call.
You have a few choices on the display, above is my choice.
It's pretty good
edit: there is also a bar across the top on which you can click and select exp date of your choice
edit 2: You can expand the view on any given strike and it will show more info including time & sales
It's way superior to ETrade and TDA that I used
Hoorah! Chalk up a victory for the good guys.
Brilliance kind of loses it's luster when you make 24% on a 300% gainer.
I'm still quite content ... my plan is to be right 75% of the time, make a little and parlay up to making $1,000 plays
Optionhouse is fantastic!
Out with 20% net ... I thought I was being so patient on the entry. Despite the mediocre entry I was able to read the afternoon action like a book.
It was a good welcome back play!
Good luck on the trade.
Eoptions executions are very good. I've never had trouble with that. That trade would have cost me $3.90 in commissions.
The part that bugs me about eOptions, is the data on my purchase price, profit/loss isn't reliable. I would assume it's a spreadsheet type setup? They need to do some tweaking.
If I don't keep track of my entry prices and exits, I don't know where it's at. Sometimes they do, sometimes they don't.
I'm beginning to think Optionhouse sucks ... let me get into a trade that's off 10% already! LOL
Bought 6 $15 calls at .38 ask ... very easy to execute on my side and it filled within seconds with a confirmation alert. Commission was was $8.19
Good luck! I've got a lot of short exposure still, let'er dip.
Please let me know how you like the Optionhouse platform. eOption is cheap, but their platform is a joke.
Optionhouse trading platform looks easy enough ... I likw their live ticker on the options, I never found that on TDAmeritrade.
Haven't used it yet but maybe today. I'm looking for a bounce now and looking to buy calls when it signals retrace.
FWIW I think the market drifts lower for a couple more weeks and then it should run
Wish me luck!
edit: I'm looking for the retrace to start around 11 am
Always glad to help, Sir.
Dirt Cheap, Thanks!
Thanks for the help ... based upon your valuable input I decided to try OpionsHouse! LMAO ... what can I tell you?
It's still half price compared to Ameritrade.
Later dude
I will say this. I've used Scottrades, TradeKing, Choice Trade, and eOptions. The $3 commission at eOptions makes it a lot easier to get in and out of a small position with a profit.
I have an account at Scottrades, and have had since I started trading. I'm more comfortable with their free real time streamer.
I use it, and place my trades in eOptions, or one of my other accounts.
Who would be choice for a better platform?
TY
Hi Buddy, the lowest priced commissions are from eOptions. I'll warn you though, their platform and data sucks as a stand alone. I have several accounts, and use the streamer from my other account. I just buy and sell in the eOptions account. It works well for that.
I don't think they give any freebies for referrals at eOptions, I do appreciate the offer. Good luck on your trading!
http://www.eoption.com/fee-structure/Broker-Comparison
Hi buddy ... I'm sure the info is somewhere but too lazy to look.
Who do you use for option trading and what do I need to tell them to get you a referral?
If I wasn't a Chief's fan, it would be worse.
You must be bummed out by the Rams ... my opinion was the Raiders and the Rams were already there so the Chargers should have been the team.
And you picked Denver too!!!!
Thanks Pal! For once in your life, don't pick now to finally be right. LOLOL
Just for you buddy
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=119581038
My gut or brain would have gone with KC, but that so increases the odds of a loss for both of us! LOL
I'm surprised that you've never bet on sports. Too bad Pete Rose wasn't more like you.
Please pick New England this week, lol.
LOL ... trust me, those are my instincts ... I just suck that bad at picking! Funny, I've gambled hundreds of thousands but never in my life have I bet on sports. My reason was always from a sports purist position, but I am sure it has saved me a fortune!
I always try to put my picks up early, just a fair warning if you are picking the same!
Thank you for picking Houston, last week.
I'm thinking if you would have went with your instincts, instead of going against me and my Chiefs? You would have won them all this weekend.
What does this mean? You are taking a vacation, or you won't be spending time looking for pos ponies anymore?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=119655353
The dow gives volume too.
That dip was odd. I'd be buying vxx calls myself.
That little dip smelled of manipulation ... too much volume on a low volume day so it must have been.
Bought some vxx 19.50 puts for overnight.
BTW, that's another advantage to using the SPX, it gives volume on the intraday charts.
I saved CAR for last ... just in case they threatened the Dolphins record ... I've been on the wrong side of 6 upsets ... I have the power!
Hi Buddy!
Were you afraid you would jinx Car? I had to laugh, they were 14-0, and you didn't pick them. The first week they lose, your all over it. lol
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