Replies to post #166 on Maksims Covered Call Options Forum

[maksim]

knock on wood, going quite well, quadrupled my account so far.

What I am finding is that technical analysis is working very well in fx as expected considering it is a far more liquid market where 90% of the volume is institutions, as opposed to the stock market where six pack joe is freaking out.

Trading off of Bollinger bands (both 1 and 2 standard deviations), as well as macd and cci.

As far as stocks. Still holding my UYG calls. Ford is a good buy write.

Looks like market is going to calm down and perhaps put up some good numbers.

Did you see the article on BoA execs loading up on shares past few days? at $5 a share for BOA, $3 a share for Citi.... scary, but can be scary good upside long term as long as things get back t o at least normal in grand scheme.

[maksim]

Ah... Forex.

Just wanted to to update this. Forex went extremely well until it blew up on me. It was fairly easy to call the trend and get on the right side of it... I started I believe with $300 or so, and within a few weeks it was over $5k.

What blew up my own account... I was a bit leveraged, and there was a temporary spike overnight... when I woke up in the AM, I was extremly happy to see my call was correct, however came to login into the account and see that I was stopped out, and ended up being forced to take a huge loss. I was highly disappointed, especially since I had a fairly safe margin.

The issue with many forex shops, there is still very little oversight of the firms, almost as little as Credit Default Swaps. Meaning... if the fx firm says you were stopped out, there is little to no one you can plead with.

For that reason, got away from it.

Stocks, Bonds, Options.... I understand, and considering my past on Wall St... I feel I know the ins and outs of them...

Ooh, come to think of it... I can finally come out and say it.

I was a financial advisor/broker with UBS when the forum was started. =) So had access to great reports, and great colleagues, including former Options market makers helping me out with my thought patterns along the way.

I have since gone independent, and do these trades in my personal account, and a few friends/clients who want a tad more diversified approach. The vast majority is in managed money such as mutual funds, and third party money managers.