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EC,
My spread is in red, but I did manage to squeeze out some money. I was not on my desk on Friday but on my way to Charlottesville, VA. I added another leg log March 43 puts, @ 0.88 which I sold in the morning. My views at this moment are little shaky but I am staying with my trade. Want to go long calls probably tomorrow close if we stay stable.
Every trade does not go as plan, and it happens again and again but one need to manage it accordingly. I did that trade 2 days early, as long I have that trade I will be posting.
Thanks for sharing your in put.
My thinking is if we do not hold 41.50 we will drop to another 2 $ and that is scary.
Good luck.
EC,
In real trouble most of the time Precious metal usually go higher, this time opposite, market reveal it in many ways. I do think this up move will take 2-3 weeks and then start down topping also take time.
I do think market has given us a cautious signal.
Correct but my bet is for coming three weeks. I strongly think we will test 44 again before going down.
You think I could be wrong, yes I could and was many times. How many people admit to that? I just posted my trade because that is opposite view then this board at this time.
We are in phase of churn if 42.50 is not taken out today I feel safe. I am just thinking loud.
Good luck
Gleno34,
It simply mean if we close above 44 at OE or above I will make $ 33000.00 and if we melt down my maximum loss will be $ 27000.00.
In other words I think going below 42.90 has limited chance.
I may take leg out if I have profit before, which I did 2 times today.
I am long 300 contracts March 42 Put and short 44 March puts for a net of 1.10.
They have simulated account, trade there 100 time in 2 hour and you full fill requirement. I think that is the most legal way. They just want you to know how it work so if it goes against you then you have no excuse that you do not know it. IMOP.
Justa,
Your work is a class act. I do not post here because I mostly trade for living, or you can call day trade. You are really very good very few come close to your level. You are a fresh breeze.
Here is my two cents for tomorrow, if we open gap down and do not close with in 1 % of today's close then we could be in bigger trouble. I will most likely close all my shorts tomorrow. I will keep some out of money puts for 2-3 months as insurance of not knowing many things about trading. It will provide some insurance for catastrophic event of melt down. I trade QQQQ so 40.72 could be a possibility. SPX 1340 is possible or a melt down to 1220 in 2-3 week (possibly very low).
Thank you very much for sharing your hard work. I appreciate your hard work and contribution. Thanks again.
W@G2 QQQQ 02/28/07 for a 03/02/07 close
43.90 Farooq
43.60 frenchee
W@G1 02/26/07 for a 02/28/07 close
45.26 DrWrong
44.72 frenchee
44.68 marin
44.60 Farooq
44.52 hotzonedude ( #msg-17372512 )
44.00 dr_shaaawn
Congratulation.
Thanks for good advice, I covered today @ 14.58 and went long stop is 4% below.
You have good eyes and I do not feel bad to ask for others opinion. I respect your views.
Nocona,
I sold my long because I like gloe's rule selling at resistance so sold @ R3 now flat not shorting any more till CCI drop and cross over of 3/8.
By the way it is a big move from S2 to R3. Leaving some on the plate always keep one in shape.
Thank you very much for your kind words.
Nocona,
That exactly I thought and covered my short at a 7 Cents loss and went long again. My reasoning at short was that we might have resistance on EMA 34; once it is violated and next bar even fail to reach it back I did what system say.
I posted all in real time so people should under stand how a trader think. I will stay with the trend and EMA 8 is my stop.
Thanks for reminding me.
Sold @ S3 got 45.02. Now flat, Might take a short on EMA 3 violation and on down ward slope of CCI.
Long from 44.45 sold @ 44.64 now flat probably will go short.
Good luck
edit; Short from 44.64 stop 44.74.
Two,
Every one take indicator different way that what makes it a market, other wise price would have no limits, At this writing I am short from 44.69 stop was 44.79 now it is moved to 44.65 by the time I post I probably have covered it.
Good luck.
edit; covered here @ 44.45 will go long after 1 minutes if price stop dropping or improve stop would be 10 cents below.
File a police report as precaution any way; and also file a report with postal Inspector. Protect yourself from Identity theft. It is jungle out there.
W@G1 QQQQ 02/20/07 for a 02/21/07 close (2 day President's Day W@G)
45.08 frenchee
44.85 Dr_Sean--snug in the middle there
44.71 DrWorm
44.60 marin
44.50 quiet
44.40 bob3
44.30 Farooq
44.25 rayrohn
44.02 anderl
Gloe,
I shorted pre open @ 44.80 reasoning was on Thursday AH market went back so I went short on my bias that they will close on lower side of 44. By 10 AM I saw that It has been rejected @ 44.60 three time so I covered my short calls and my shares and went long @ 44.60 CCI cross of 0 also gave me the reason to stay with trade. Sold @ 44.75 and went short CCI down slope was the reason for my action at the time. As soon as I went short it moved against me, my stop was 44.85 but that never triggered. I was not comfortable with this short so covered again @ 44.66 and went long @ 44.67 which I sold for 44.72. I did not went short @ that point because my thinking changed; Now I was thinking at that time market is trying to touch 45. My buy stop trigger was 44.80 but I got better deal in next down move and I did went long @ 44.67 which I sold for 44.80 near the close. So in total I made 20+15+9+5+13. It is always better to be lucky.
I lost 10 Cents on Long puts. In early morning my bias was that we are going down so I bought some puts which closed @ 10 cents loss.
This was not pure NERS, on 3 Times CCI was always on my side, and my 10 Cent stop loss was big plus and once I had 35 Cents under my belt that gives reason to take more opportunity.
At the end it is hard work, which prepare you for coming days, you and I are trying to figure out our edge on weekend and most other people spent this available time in other activities. I love what I do so I am eager to learn always. Thank you again for sharing your hard work with us. I benefited a lot from your and Nocona’s work. Thanks.
Two,
I do not know why you have this assumption that I have three loses.
I made 50 Cents in total on Friday.
I am short from 27 and it is a huge position for me, so you think I should cover it now? Are you sure?
Thanks for sharing your view.
Farooq
1. What indicators you use ? do you use 144 ccc 5 min
+/-100 trigger and 3/8 ema
2. where do you put your stop loss, how much drawdown ?
3. What is your current position, are you short ?
Answers to your Questions.
1- Yes and Yes and yes.
2 - 10 Cents from my entry point. Once trade is profit able BE+1 Cent, With 1 cent I can still make 30 dollar. I believe I can always renter so do not let your profit become a loss. Once in a while sudden spike goes against me. My stops are in my program once trigger no ifs and buts, think latter take action now. MM always run your stop. SO I do not pace with them. If not on desk no trading position, Just investment positions.
If price is going up or down according to signal then I rely on 3/8 if over extend then follow 34 EMA and 65 SMA are my guide. I stay with trend if not broken.
I am long but I trade very rapid. So when I will post I might be on other side of force.
Good luck.
System gives you an edge and plan; you still need to bring discipline and your baggage, which ultimately determine your profit and loss. We all trade NERS with our own comfort and flavors. But every one makes different profit. You need to be in your comfort zone, If stop loss make you comfortable then use that. I do not trade for the day if I have 3 losses in a row. Is it draw back of system? to some extent it could be, a lot of talented people trade for living so market participant change there mind and act simultaneously no indicator can tell you that. At that moment you just take what is given to you.
My every trade can not be profitable that is where I start. If I am afraid of loss I can never enter in a trade. I just need to determine what loss I can take comfortably and what could be reward. Those who trade for adrenaline rush they end up broke.
I apologize if you feel bad about any thing I have written. IMOP if we analyze our personality and see weather we could be a trader or not that is a good start other wise it is better to give our money to a good money manager. I do not post much because most of the people here are better trader then I and they always give better advice.
I just trade, and I do it for living.
Good luck.
I just shorted few Puts Feb 45 and 44 against Feb43, Which I cashed in today.
Bad thing I shorted some 44 calls against 45 calls. Hope my second w@g also come true.
Thanks every one.
Farooq
Be,
My gut feeling is we will not move below 43.90 + - 5 Cents for today.
Why in the world you are buying in the money call if you are short????????????????????????????
If you do not know direction but you know magnitude of move possible in either direction you are better of buying both put and call.
Stock @ 90 your loss is 325 + Commission.
Stock @50 Your gain is 1675 + Commission..
JMHOP.
W@G2 02/14/07 for a 02/16/07 close
45.00 Dr_Sean
44.10 Farooq
43.29 frenchee
W@G1 02/12/07 for a 02/14/07 close
43.29 frenchee
44.37 Farooq
You follow rules do not second guess, if come below 50.50 you can always short again.
JMHOP
Good luck.
Farooq
How about this fellow?
http://www.investorshub.com/boards/read_msg.asp?message_id=16828091
Can he get 80% credit?
LOL
Farooq
DrWorm,
You entry is excellent but today low 47.84 also has big support once you are below that you have smooth sailing to 44 areas. I will put a mental stop @ 50.50 for IT trade.
JMHOP
Good luck.
Congratulation. I almost made it but prize is yours.
Gleno34,
I hope you are using stop loss. It is not about you it is just a trade, which some time does not work out.
I try to follow the trend, with a hope; I do not try to predict what market will do so I wanted to be out ASAP if I am not with the trend.
There is no one against me I am my own enemy. Market is not there to harm me or facilitate me. Our bearish bias hurts us and sometime benefits us.
It always work out for you and it will work out again. I am not short but I am about flat now. In other words I also think for today chances of going higher is significantly low. JMHOP.
Farooq
Nocona,
Gloe is a class act; I learn every day from her. She brings so much on the table that I cannot eat it all. I am very thankful to her also. It really become difficult to digest all the input and newthinking she brings on the board.
Thank you Gloe.
Farooq
Nocona,
Thank you again for sharing with us, I am taking my trades with 4 indicators,
1 CCI 144 on 5 min chart
2 EMA 3/8 crossover on 5 min chart
3 LSMA 34
4 SMA 65 on 5 min chart to keep me with trend
Support and resistance on the chart.
I got a great entry yesterday for 13K shares which I sold today on R 1 when we moved back from 200 my average fill was 44.60 and I made about 0.80 /share.
Just want to share that I am doing fine with this system. I do my other trades for IT with other methods. I am trying to see if some of the rules could apply on LT and IT trades.
Thanks again.
Be,
Thanks,
I became net short when we broke 43.90, which I mentioned yesterday. I think this is a bear trap but I have been wrong many times before, so take it with grain of salt. I covered my second short @ 43.70 and covered my short 44 calls and went long on those calls.
I was long from 43.70 and sold @ 43.94.
When we reach 50 Cents move on any day I wait and draw a horizontal line to see where most bars are touching and buy there with 10 Cents stop loss.
To stay ahead of game one must be humble and trust his observations.
You have some wonder full abilities you just need to take advantage of those qualities.
You will be surprise to see how good is your win rate is. Very few achieve that rate and I enjoy your insight of TRIN. Thanks for sharing.
I will stay long above 43.80 and short below it. I do change my position many times and many times it becomes difficult to post so please do your own D/D.
Good luck.
I am out of my shorts shares @ 43.99. No long yet.I will be around this price.
Resistance is there to over come; we are forming a cup handle on 60 min chart. I will be net short below 43.90 now. Over night I am short from 44.15 for short term, I am hedging few thousand shares only. Still net long.
Tweak,
Thak you very much.
Good luck in your trading.
I am long on balance, for IT and ST, I am trading, day trade with NERS rules. I am not taking all NERS trades but selected few, I came short in opening for very short term trading as hedge and covered @ 43.98 I was ready to cover @ 44 but they gave me few thousand pennies more, then went long @ same price which I sold around 10:35, Now long 15k synthetically for IT goal is around 44.60 - 80.
Could go short any time too, I some time short against the box to take advantage of small movement. I think participant are trying to test upper range once again. As long war is going on economy will do fine, real test will be when it stop, In between there will be corrections. A bear market is going to start in late 07 if market discounts that John McCain cannot win. JMHOP.
tweak,
What vehicle you can use to trade it? Do you know that any options or futures available on it?
TIA.