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Time decay option strategies
Is anyone out there interested in discussing option strategies that take advantage of the time decay in value of expiring options?
A Demon of Our Own Design
I just finished reading "A Demon of Our Own Design" by Richard Bookstaber. He is a person who has devised analysis and trading schemes for hedge funds and others. He gives us a look into that world and why things fall apart from time to time. He likens the events leading up to the 1987 market crash and the more recent failure of LTCM to what went wrong at Three Mile Island. I found it a very interesting book. Bottom line is that it really isn't possible to pass a law to keep it from happening again.
Day Trading
Is this group still active? I just started day trading with Scottrade this month. I know NOTHING but made 11% since the 1st of August.
Would like hot tips or discussion from time to time.
Would like hot tips or discussion from time to time.
Liar's Poker
Liar's Poker by Michael Lewis published in 1989
This is a book you can find at the library. Lewis was a bond trader. The bond market dwarfs the stock market. He tells of his journey from neophite to BSD (obscene). He has a breezy writing style. This is an easy read. What I got out of it was that I and other individual investors were just little bits of meat in a tiger's cage.
This is a book you can find at the library. Lewis was a bond trader. The bond market dwarfs the stock market. He tells of his journey from neophite to BSD (obscene). He has a breezy writing style. This is an easy read. What I got out of it was that I and other individual investors were just little bits of meat in a tiger's cage.
Day Trading Tactics
Methods for Improving Your Trading Results
Day Trading Focus
Many new traders underestimate the amount of trading focus required for active trading. Trading on the surface appears to be a bunch of flashy numbers and charts moving in real time with very little meaning. It is up to the trader to tune into what the market is saying in order to capitalize on gains.
Here are simple steps an active trader can use to improve their focus and trading performance:
Do Not Answer the Phone
If you are an active trader, cut your business or home business phone off when you are trading. Even the sound of a phone ringing can break your concentration and can cause a lapse in judgment. Phone conversations are completely out. These conversations will distract you from the task at hand, making money and cause you to lose your focus.
The worst scenario is: you hear the phone, you answer it and the person you are talking to brings about negative energy or causes you too become emotional thus further breaking your concentration.
Again, trading is a professional trade, you need to work and not be concerned with outside day to day things that have no consequence to your life at the moment. Don’t answer the Phone or at least use a Answer Device to handle any calls.
Leave the Radio Off
Do not look to entertain yourself by playing your favorite cd or listening to your ipod while you trade. In the real world if you try to do this, you will lose money. Music brings about emotions, which have no business in trading.
Stay Off the Internet
Do not chat or email friends or check the local weather while trading, the reason is that before you know it, a few seconds, minutes or even hours may have passed and the stock you were waiting to breakout did so and you missed the trade.
Trade Standing Up
In many brokerage firms and sales organizations, you will see young brokers standing up talking on the phone. The reason for this is by being in motion, it brings inner energy out of you. When you sit reclined and relaxed it breeds apathy. Get out of your chair, lean over the monitor, yell if you have to. But become an active participant, because if you sit back you are reducing energy and it may lead to apathy in your trading.
Talk to Yourself
Talking to yourself in any other profession would be looked upon as a sign of weirdness, in trading, this will help you keep your focus. Thinking out loud will prevent you from making any sudden bonehead decisions because it is harder to follow through with something if you have to speak it into existence. Talking out loud also makes you think things through, thus letting the control of the game idea come to you. Many day traders speak of how they were doing well one minute, then out of nowhere they put on a trade that did not meet any of their trading criteria. If you can't be honest with yourself, who can you be honest with?
Day Trading Focus
Many new traders underestimate the amount of trading focus required for active trading. Trading on the surface appears to be a bunch of flashy numbers and charts moving in real time with very little meaning. It is up to the trader to tune into what the market is saying in order to capitalize on gains.
Here are simple steps an active trader can use to improve their focus and trading performance:
Do Not Answer the Phone
If you are an active trader, cut your business or home business phone off when you are trading. Even the sound of a phone ringing can break your concentration and can cause a lapse in judgment. Phone conversations are completely out. These conversations will distract you from the task at hand, making money and cause you to lose your focus.
The worst scenario is: you hear the phone, you answer it and the person you are talking to brings about negative energy or causes you too become emotional thus further breaking your concentration.
Again, trading is a professional trade, you need to work and not be concerned with outside day to day things that have no consequence to your life at the moment. Don’t answer the Phone or at least use a Answer Device to handle any calls.
Leave the Radio Off
Do not look to entertain yourself by playing your favorite cd or listening to your ipod while you trade. In the real world if you try to do this, you will lose money. Music brings about emotions, which have no business in trading.
Stay Off the Internet
Do not chat or email friends or check the local weather while trading, the reason is that before you know it, a few seconds, minutes or even hours may have passed and the stock you were waiting to breakout did so and you missed the trade.
Trade Standing Up
In many brokerage firms and sales organizations, you will see young brokers standing up talking on the phone. The reason for this is by being in motion, it brings inner energy out of you. When you sit reclined and relaxed it breeds apathy. Get out of your chair, lean over the monitor, yell if you have to. But become an active participant, because if you sit back you are reducing energy and it may lead to apathy in your trading.
Talk to Yourself
Talking to yourself in any other profession would be looked upon as a sign of weirdness, in trading, this will help you keep your focus. Thinking out loud will prevent you from making any sudden bonehead decisions because it is harder to follow through with something if you have to speak it into existence. Talking out loud also makes you think things through, thus letting the control of the game idea come to you. Many day traders speak of how they were doing well one minute, then out of nowhere they put on a trade that did not meet any of their trading criteria. If you can't be honest with yourself, who can you be honest with?
sucker rallies
As I write this the DJIA is above 7000. It may get as high as 9500. But what we are in the midst of is not a typical recession and it's global. I expect more volatility and perhaps a new low close to 5000. For the main I think we are in for a long sideways ride to nowhere. If you call up a chart of the DJIA please note that for the 17 year period from 1965 to 1982 the market just went sideways. I'm not predicting that will happen again but on the other hand I don't see any driving force that will take the market higher.
If you take a long term chart of the DJIA and ignore the upswing of recent years and just extend the long term trend it will take you to 5000.
If you take a long term chart of the DJIA and ignore the upswing of recent years and just extend the long term trend it will take you to 5000.
Hello
It time to Buy, despite the Indexs close to bottom, sellers are getting ready to jump back in...this may not be on a Index Level, but they are getting ready for the Big Buy.
Many stock are at or near bottom...these are the ones to invest in. Long Term is considered best!
So for whoever visit this group...???? This Void...???
Hello,
Many stock are at or near bottom...these are the ones to invest in. Long Term is considered best!
So for whoever visit this group...???? This Void...???
Hello,
Optimism
Guess I am a optimist, for I still am nibbleing at this mkt, hopeing someday it will pay off. Like JNJ-good dividend. If you can't afford to lose a little, you are better to stay out of this mkt. If you got a little play money, there is some places still worth looking at. Don't give up, keep your interest and this great country of good people, will bring us back to good times. God Bless America......
The Crash of 29
I've ordered John K. Galbraith's book "The Crash of 29" from the library. What we're going through is on the same scale. One item noted from that book in a review of a current book is that cons like the 50 billion Ponzi scheme we've been reading about are likely just the first to be revealed. When the market is on even keel it's amazing what can be kept out of sight. The SEC and auditors are kind of like a member of the audience whose been asked to inspect a magician up close. A good magician is pretty hard to catch.
buy hi sell low
Ever feel that's what the bg boys want you to do?? What's the next step for this market? Should we buy sell or hold?
