The Official Trading Thread
- Thread starter mGrunin
- Start date
The markets were absolutely smacked today. Thanks to miss by Cisco, Walmart and Macy. Add in a really positive report from Jobless claims, tension in Egypt, and you have this 1.5% sell off.
I came out today barely hit..hell even with a really minor gain of about $1,200 or so.
[ame="http://www.youtube.com/watch?v=mxZI7ZfS0_s"]August 15: Markets fall 1.5% // Dodged the bullet! - YouTube[/ame]
I came out today barely hit..hell even with a really minor gain of about $1,200 or so.
[ame="http://www.youtube.com/watch?v=mxZI7ZfS0_s"]August 15: Markets fall 1.5% // Dodged the bullet! - YouTube[/ame]
Yep, thankful that I was holding Google puts overnight, helped with the overnight gap down. I am still a bit wary of hopping on the short side of the markets just because dips have constantly been bought all year round. Once we can really break down, I can begin to get short on the markets intraday. Leaving a lot of money on the table by not taking part in a 1.5% fall.
Only thing is that right now I am holding 2 long contracts in /es. Small position, and I am looking to get rid of it on a relief rally. If there is downside tomorrow as well, I will just take the loss on it.
Nicely done. Not gonna buy an SPY puts as I don't like trading the entire market, never really been able to time it right. Currently holding onto GOOG calls but will likely sell before FOMC minutes. Also looking at long YHOO if it bumps up off $27.
mGunin: you may have touched on this already, but what are your overall percentage gains for day/month/overall. the numbers are impressive, but it would be nice to compare stats percentage wise since not all of us be ballin' mgrunin style. . .
Since I seem to be missing you on Skype...
How far out do you usually purchase your options? And how long do you usually hold them?
I had some minor success with my first option purchase. I bought some $AAPL Aug 23 $520 calls last week when the stock traded for $480 or so and the option was $1.90. Went up 70% today and up 30% overall. It traded as high as $5 today, but since I don't do daytrading I missed the huge gain. Not nearly as good as Martin, but it was an interesting test to get my feet wet.
How far out do you usually purchase your options? And how long do you usually hold them?
I had some minor success with my first option purchase. I bought some $AAPL Aug 23 $520 calls last week when the stock traded for $480 or so and the option was $1.90. Went up 70% today and up 30% overall. It traded as high as $5 today, but since I don't do daytrading I missed the huge gain. Not nearly as good as Martin, but it was an interesting test to get my feet wet.
I've been following this thread since the start and it got me watching all kinds of day trader documentaries and videos on youtube. Although I ain't even close to getting into it I wanted to get you take on something.
Earlier today Tesla put out a press release:
Tesla Model S Achieves Best Safety Rating of Any Car Ever Tested | Press Releases | Tesla Motors
Now I know you've traded Tesla before. So as a day trader does what does this kind of news mean for you? Are you planning on jumping back in today to hopefully ride a wave or can this kind of news be a bad thing if someone were to invest? Or does this kind of news have any effect at all?
Earlier today Tesla put out a press release:
Tesla Model S Achieves Best Safety Rating of Any Car Ever Tested | Press Releases | Tesla Motors
Now I know you've traded Tesla before. So as a day trader does what does this kind of news mean for you? Are you planning on jumping back in today to hopefully ride a wave or can this kind of news be a bad thing if someone were to invest? Or does this kind of news have any effect at all?
News like this won't have much affect on a stock price. To a day trader especially, this doesn't mean much. A car company stating they have a safe car doesn't make the company any more valuable. If you were looking to buy and hold it for 5 years, it might make you feel a bit better about the company's position for the future.
However, news like Icahn announcing he's long a new company, that stock soar just like he did with $AAPL and $NFLX before that. Luckily I was already long both positions and made out quite well.
That's my $0.02.
I have some more questions.
1. Do you follow the Greeks, before making the trade? If so what Greeks do you follow?
2. How do you calculate historical volatility, if you sell options?
3. How long have you been trading?
4. What technical indicators and option strategy do you recommend for newbie like me? I know a bit about stock market and options, but don't have experience in trading, looking to get started.
5. Liquidity - How many trading option contracts would you consider liquid?
Thanks.
1. Do you follow the Greeks, before making the trade? If so what Greeks do you follow?
2. How do you calculate historical volatility, if you sell options?
3. How long have you been trading?
4. What technical indicators and option strategy do you recommend for newbie like me? I know a bit about stock market and options, but don't have experience in trading, looking to get started.
5. Liquidity - How many trading option contracts would you consider liquid?
Thanks.
Hey mcGrunin,
I'm really currious; aside from your daily profit/loss:
What has been your net return on capital since you started trading?
As in, of total capital risked (not just with what you started; how much did you transfer from liquid cash into trading positions), what % have you cleared? (as in taking out and placing into liquid positions; not trading positions)
I always find daily trading profits, and 'trading positions' to be rather worthless as a gauge of success. Long term liquidity cleared is what matters.
I'm really currious; aside from your daily profit/loss:
What has been your net return on capital since you started trading?
As in, of total capital risked (not just with what you started; how much did you transfer from liquid cash into trading positions), what % have you cleared? (as in taking out and placing into liquid positions; not trading positions)
I always find daily trading profits, and 'trading positions' to be rather worthless as a gauge of success. Long term liquidity cleared is what matters.