bravelude
Banned
- Dec 29, 2013
- 7,573
- 1,115
lol. u wish oil.wouks break out. thats not even....
OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER
- Thread in 'General' Thread starter Started by johnnyredstorm,
- Start date
- Apr 4, 2008
- 74,954
- 24,365
interested in maybe putting on a small options play in BP. if there's a drawdown in API numbers next week, oil should catch a little bit of a bid. need negative inventories to fuel a move out of this chop.
- Apr 4, 2008
- 74,954
- 24,365
XON :x this is one i wanted to buy on a pull back when it was at 35 and it never happened. priced out a risk reversal for July but never clicked the mouse. would've sold the 40-35 put spread to buy the 50 call for even and thats worth over 5 bucks currently. sometimes you gotta click the mouse and just manage risk.
- Jan 20, 2002
- 54,351
- 31,916
stuck with xon for over a year now
bought at 25, sold half at 38. this is getting ridiculous
randal kirk is someone i invest in
look into ziop as well. get in now before this really takes off
bought at 25, sold half at 38. this is getting ridiculous
randal kirk is someone i invest in
look into ziop as well. get in now before this really takes off
Last edited:
- Apr 4, 2008
- 74,954
- 24,365
ziop's a little too extended for my liking. yeah it can keep going, but I've been watching since it was like 7 bucks so if i didn't touch it there, I'm not gonna bother here 
great job with XON. this company reminds me of MON a little.
great job with XON. this company reminds me of MON a little.
- Jan 20, 2002
- 54,351
- 31,916
ziop's a little too extended for my liking. yeah it can keep going, but I've been watching since it was like 7 bucks so if i didn't touch it there, I'm not gonna bother here
great job with XON. this company reminds me of MON a little.
what would your strategy be. should i sell the remaining stocks?
wanna pick up some tsla stocks. feel like it is bottoming out
Last edited:
- Aug 24, 2012
- 414
- 83
Johnny you're a full time trader? Or swing trading and monitoring while having a full time gig as well?
- Apr 4, 2008
- 74,954
- 24,365
depends on how much you have left.
could sell a quarter or half of what you have left and let the rest ride with a stop under 45 maybe?
or if you really like the company for the long term, could maybe just hedge it if it starts looking heavy. covered calls, cashless collars, puts, etc.
i'd consider just peeling some off just to lock in more gains and try and be more patient with the rest. i think this could continue higher in the long term, but man, it's doubled basically the past 2 months so a pull back isn't outlandish. although it could find support around 47.
great job being in that name. how are their fundies? are they likely to do a secondary/cash raise?
i've been day trading full time for the past year. have had my ups and downs. blew up my account last year, starting to slowly grind back this year. i've honestly been a ****** swing trader this year. the bulk of my losses for the year have been from poorly managed swings. I've only had like 2 egregious day trades that i regret not managing more efficiently.
i'm getting better at day trading, gotta just keep working on my patience and discipline. today i had a great entry in some FB calls but stopped out for scratch when my stop really never triggered. it's little stuff like that that i'm still working my way out of. blowing up an account can really screw with you psychologically.
could sell a quarter or half of what you have left and let the rest ride with a stop under 45 maybe?
or if you really like the company for the long term, could maybe just hedge it if it starts looking heavy. covered calls, cashless collars, puts, etc.
i'd consider just peeling some off just to lock in more gains and try and be more patient with the rest. i think this could continue higher in the long term, but man, it's doubled basically the past 2 months so a pull back isn't outlandish. although it could find support around 47.
great job being in that name. how are their fundies? are they likely to do a secondary/cash raise?
i've been day trading full time for the past year. have had my ups and downs. blew up my account last year, starting to slowly grind back this year. i've honestly been a ****** swing trader this year. the bulk of my losses for the year have been from poorly managed swings. I've only had like 2 egregious day trades that i regret not managing more efficiently.
i'm getting better at day trading, gotta just keep working on my patience and discipline. today i had a great entry in some FB calls but stopped out for scratch when my stop really never triggered. it's little stuff like that that i'm still working my way out of. blowing up an account can really screw with you psychologically.
- Apr 4, 2008
- 74,954
- 24,365
Reading this book
Keene on the Market: Trade to Win Using Unusual Options Activity, Volatility, and Earnings by Andrew Keene
Was fortunate to get a free copy with my subscription to KOTM, but I recommend it in general if you're looking to learn options/AK's style.
I decided to start a trading journal and just write my trades for the day, why I took them and stuff I thought about taking, didn't and why. Trying to get more consistent and get the most out of my trades.
Probably gonna watch some more of Tandem Trader later as well.
Keene on the Market: Trade to Win Using Unusual Options Activity, Volatility, and Earnings by Andrew Keene
Was fortunate to get a free copy with my subscription to KOTM, but I recommend it in general if you're looking to learn options/AK's style.
I decided to start a trading journal and just write my trades for the day, why I took them and stuff I thought about taking, didn't and why. Trying to get more consistent and get the most out of my trades.
Probably gonna watch some more of Tandem Trader later as well.
omariwestafari
Banned
- Dec 3, 2014
- 3,323
- 1,531
okay so i read the first post which was very informative and it says dont trade to make money??
what da hell da whoel point im tryna get in the trading game is so i can make some money. im not expecting to become a millionaire overnight but i want to make positive gains althouhg i accept losing money as part of the process too
what da hell da whoel point im tryna get in the trading game is so i can make some money. im not expecting to become a millionaire overnight but i want to make positive gains althouhg i accept losing money as part of the process too
- Apr 4, 2008
- 74,954
- 24,365
Key is to not focus on making money but rather, making the best trades possible. IE waiting as long as you need to to take the best risk reward set up. If you trade well consistently, the money comes. If you try to make money, you wind up forcing bad trades and losing more than anticipated.
omariwestafari
Banned
- Dec 3, 2014
- 3,323
- 1,531
Okay okay makes sense
By the way what do u recommend to start paper trading?? Ima look to paper trade and learn for like 3-6 months till i feel real comfortable then jump in da reel world
By the way what do u recommend to start paper trading?? Ima look to paper trade and learn for like 3-6 months till i feel real comfortable then jump in da reel world
bravelude
Banned
- Dec 29, 2013
- 7,573
- 1,115
index types, like Spyders.
omariwestafari
Banned
- Dec 3, 2014
- 3,323
- 1,531
Care to link me brah?
- Apr 4, 2008
- 74,954
- 24,365
Make an account with ThinkOrSwim. You don't need to fund it either. Just paper trade there and only use a dollar amount you would use in reality. Personally, I'd say start with only $1,000 in the paper account and find your niche. Work on developing positive habits. When you've done it consistently well for 3-6 months, and ideally grow a g into at least 10-15k, you could consider putting a grand of real money into an account. Start slow and keep as little money in the account as possible at first and just slowly grow. The less you can burn through the better when beginning.
I blew up my account last year because I didn't understand how to trade, I got frustrated, I got emotional, and I had too much damn money in that account. I basically burned through all the money I had saved up from working right out of college. Do everything you can to avoid emotions, fear, being undisciplined, etc.
Have a trading journal and outline what you did, why, what you didn't do and why.
It's been a while since I wrote up an essay so I just typed one up. Probably rehashing some of the stuff I've said before but hey, it never hurts:
I blew up my account last year because I didn't understand how to trade, I got frustrated, I got emotional, and I had too much damn money in that account. I basically burned through all the money I had saved up from working right out of college. Do everything you can to avoid emotions, fear, being undisciplined, etc.
Have a trading journal and outline what you did, why, what you didn't do and why.
It's been a while since I wrote up an essay so I just typed one up. Probably rehashing some of the stuff I've said before but hey, it never hurts:
The number one goal for every trader should be to never blow up their account. If you've done it before so be it. You've earned your stripes and can now move on and become elite. If you've never done it, congrats, now keep your focus and never get too far ahead of yourself. Blowing up an account is the worst feeling in the world. Avoid it like the your life depends on it. If you need to take some time off because your trading is sloppy, do it, refresh yourself and refine your process.
Trading is all about risk vs reward. It's your duty to properly weigh each trade in respect to your total book. Never lay out more than .5-5% of your book on any single trade that you carry overnight. If you're day trading, you must have a plan, a stop, a max pain to prevent yourself from losing more inventory than you can afford to lose.
Losing trades happen, it's your duty to admit defeat and recognize when you're wrong as quickly as possible. It's also your duty to do your best getting the most out of each trade. Taking targets and raising your stops is one way to help with your patience.
Profit taking is the goal, never fall in love with any one position. It's all ****. If you're up in a position, take a target or two and move your stop to break even. As the position works for you, take additional targets and keep raising your stop. If you have a long term outlook and your stock looks heavy in the interim, buy protection--hedge yourself and protect yourself from moves to the downside.
Always have a plan and a set risk when trading. If you have a higher low you can base your risk off of, buy the dip. If you have a lower high you can base your risk off of, short the pop. You can do anything as long as you have a plan and properly manage your risk.
If you're trading options be aware of your premium levels. Front month premium kills. If you have thirty days to expiration or less and your position is out of the money, theta will wither away your premium levels if you don't get that fast and aggressive move in the right direction.
Be aware of how implied volatility works. Don't buy out of the money options in a low vol stock. Consider selling a credit spread to finance your option, or creating a debit spread to put theta and IV on your side.
Weekly options are heavenly if you're a day trader or you trade catalyst events. But you need to understand how they work. $500 of risk in a weekly option is equivalent to $5,000 of risk in an option expiring in six months. Never fight and average down on a weekly option that's out of the money, it will happily go to zero at expiration.
Everything is a risk vs reward set up. Risk $100 to make at least $300. Never risk $300 to make $100.
Find your niche. Learn what works for you. I use value areas when trading and occasionally the ichimoku cloud. Some people like 8/21 day ema's. Others like 10, 20, 50, 200 day sma's. Some just trade patterns. Learn what works best for you and refine it.
If you're a beginner, never ever sell an option naked or short a stock without a hard stop in place. The last thing you want is blowout risk.
If you trade small caps and low float stocks, learn level 2 and use limit orders to avoid getting screwed by the spread. Also learn about float rotation and stay away from shorting stocks that are having their floats churned. Wait for the backside of the move. Being early on the front side and fighting it short will blow up your account.
Two things I've learned from IU: I'm either right or right out, and I nail and bail a trade. I don't get greedy, I don't get emotional, I trade what's in front of me. Hope will bankrupt you, logic, discipline and patience will make you rich.
Wait for the best risk reward set ups. It could be boring, but so be it. Sitting in your hands will keep you out of being chopped up in boredom trades. Be like a hunter waiting for his prey. Never be antsy and trade just to trade. You trade because you have a good risk reward set up that you can take advantage of. Sometimes you'll be wrong but if you keep your losses small and get the meat of the move when you're right, in the long run you'll be profitable.
Trading is all about risk vs reward. It's your duty to properly weigh each trade in respect to your total book. Never lay out more than .5-5% of your book on any single trade that you carry overnight. If you're day trading, you must have a plan, a stop, a max pain to prevent yourself from losing more inventory than you can afford to lose.
Losing trades happen, it's your duty to admit defeat and recognize when you're wrong as quickly as possible. It's also your duty to do your best getting the most out of each trade. Taking targets and raising your stops is one way to help with your patience.
Profit taking is the goal, never fall in love with any one position. It's all ****. If you're up in a position, take a target or two and move your stop to break even. As the position works for you, take additional targets and keep raising your stop. If you have a long term outlook and your stock looks heavy in the interim, buy protection--hedge yourself and protect yourself from moves to the downside.
Always have a plan and a set risk when trading. If you have a higher low you can base your risk off of, buy the dip. If you have a lower high you can base your risk off of, short the pop. You can do anything as long as you have a plan and properly manage your risk.
If you're trading options be aware of your premium levels. Front month premium kills. If you have thirty days to expiration or less and your position is out of the money, theta will wither away your premium levels if you don't get that fast and aggressive move in the right direction.
Be aware of how implied volatility works. Don't buy out of the money options in a low vol stock. Consider selling a credit spread to finance your option, or creating a debit spread to put theta and IV on your side.
Weekly options are heavenly if you're a day trader or you trade catalyst events. But you need to understand how they work. $500 of risk in a weekly option is equivalent to $5,000 of risk in an option expiring in six months. Never fight and average down on a weekly option that's out of the money, it will happily go to zero at expiration.
Everything is a risk vs reward set up. Risk $100 to make at least $300. Never risk $300 to make $100.
Find your niche. Learn what works for you. I use value areas when trading and occasionally the ichimoku cloud. Some people like 8/21 day ema's. Others like 10, 20, 50, 200 day sma's. Some just trade patterns. Learn what works best for you and refine it.
If you're a beginner, never ever sell an option naked or short a stock without a hard stop in place. The last thing you want is blowout risk.
If you trade small caps and low float stocks, learn level 2 and use limit orders to avoid getting screwed by the spread. Also learn about float rotation and stay away from shorting stocks that are having their floats churned. Wait for the backside of the move. Being early on the front side and fighting it short will blow up your account.
Two things I've learned from IU: I'm either right or right out, and I nail and bail a trade. I don't get greedy, I don't get emotional, I trade what's in front of me. Hope will bankrupt you, logic, discipline and patience will make you rich.
Wait for the best risk reward set ups. It could be boring, but so be it. Sitting in your hands will keep you out of being chopped up in boredom trades. Be like a hunter waiting for his prey. Never be antsy and trade just to trade. You trade because you have a good risk reward set up that you can take advantage of. Sometimes you'll be wrong but if you keep your losses small and get the meat of the move when you're right, in the long run you'll be profitable.
Last edited:
- Apr 30, 2011
- 10,915
- 2,735
Gold doing what it does again
- Apr 4, 2008
- 74,954
- 24,365
Never trading precious again
Market looks to be correcting a little. Should be some volatility next week. Be careful with calls if the market does sell off more, volatility will be jacked and you don't want to be buying too much iv. when the market settles down vol will come in some. Just have a plan.
I put on a call fly in KITE this morning. July 70-90-110 just a 1 lot for 2.90. At the money straddle implied a $23 move, we'll see if I picked the right direction. Wanted to get long this name.
Watching AGIO for a similar play. 104 is the value area low for the month. 80 is the value area high for the year. Sort of wanna see it test that 80 level to get long. Was reading about their trials, some really amazing stuff potentially.
As always with biotechs gotta be smart with size and careful of gap risk.
Market looks to be correcting a little. Should be some volatility next week. Be careful with calls if the market does sell off more, volatility will be jacked and you don't want to be buying too much iv. when the market settles down vol will come in some. Just have a plan.
I put on a call fly in KITE this morning. July 70-90-110 just a 1 lot for 2.90. At the money straddle implied a $23 move, we'll see if I picked the right direction. Wanted to get long this name.
Watching AGIO for a similar play. 104 is the value area low for the month. 80 is the value area high for the year. Sort of wanna see it test that 80 level to get long. Was reading about their trials, some really amazing stuff potentially.
As always with biotechs gotta be smart with size and careful of gap risk.
- Mar 14, 2006
- 17,697
- 2,714
Portfolio is up 9% to date which I feel is good considering where I started and how little capital I have. AAPL giventh and it taketh. DIS is pretty solid, in again at $100. Slow but learning more and timing things a little better or knowing when to wait to get in on things. Microsoft got me thinking though. I have high hopes that Win10 will give it a boost, but then the market for the Surface Pro 3 has me skeptical. I need to see where the company plans on taking themselves in the next 5 years.
- Apr 4, 2008
- 74,954
- 24,365
congrats on your performance so far, and glad to see you're learning. studying and waiting is what this game is about.
i low-key like MSFT as a small speculative stock for the future. they've spent the most in r&d in the country which is important, have some cool products in the pipeline like the hololens and illumiroom.
I might take a stab at swinging a little DIS if it hits like 97.50. not sure, really depends if i make some good day trades and have a few bucks to allocate to a swing.
i low-key like MSFT as a small speculative stock for the future. they've spent the most in r&d in the country which is important, have some cool products in the pipeline like the hololens and illumiroom.
I might take a stab at swinging a little DIS if it hits like 97.50. not sure, really depends if i make some good day trades and have a few bucks to allocate to a swing.
- Apr 4, 2008
- 74,954
- 24,365
Interesting read about TWTR. Really wanted to own this one under 35 but never pulled the trigger.
Fwiw @biotechmoney18 biotech stocks that he avoids trading
https://www.dropbox.com/s/3187z7ipds356ka/Biotech Not play list.docx?dl=0
Fwiw @biotechmoney18 biotech stocks that he avoids trading
https://www.dropbox.com/s/3187z7ipds356ka/Biotech Not play list.docx?dl=0
Last edited:
- Apr 30, 2011
- 10,915
- 2,735
Someone short ARO with me
SHAK will be interesting.
Last edited:
- Apr 4, 2008
- 74,954
- 24,365
started reading the daily trading coach last night, really good read so far.
list of lock up expirations
http://pro.edgar-online.com/ipo.asp...colright=b7d3b48b-3bc7-40dd-bba6-2e58e1a4fc92
Last edited:
- Apr 4, 2008
- 74,954
- 24,365
dude in the KOTM room kept talking about SLXP having a higher bid the past 2 weeks, i didn't follow him in his trade but he bought some lotto ticket options that went from .15 to 9.50. 500 of those for 475,000 profit on 7,500 of risk and he had 1500 other contracts. obviously dude is a gun slinger, but if i took a 10 lot, risking 150 i could've made 9500. thats basically why i learned options. is that typical movement? no but it shows whats possible once you know what you're doing.
- Apr 30, 2011
- 10,915
- 2,735
How does a company like this still operate? :x
Last edited:
- Apr 4, 2008
- 74,954
- 24,365
every beginner should have that chart plastered above their computer as a reminder to always use a stop
