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Showing posts from May, 2018

May 28th 2018

I cut my losses on previous AAPL options positions. The Bull Put on AAPL 185/175.5 PUT Option expires June 8th, it still may be profitable, the break-even was AAPL @ 183 by Jun 8th expiration. I'd rather close my long position and prepare my portfolio for a potential negative downturn. I've been bearish for damn near two years, looking at the Geopolitical landmines coming up with the Russian investigation along with Euro stress from Italian political turmoil has me cautious to the upside. We have three choices as traders, go long, go short, or do nothing and sit on the sidelines. For the knowledgeable options traders out there, yes there are strategies that can make money options trading in a low volatility market. I believe betting against high volatility is a recipe for disaster in the long term.
Portfolio
YM September PUT 24600 Strike
FXE September PUT 110 Strike

Options Trading With Apple (AAPL)

No trades today. In my 16 years of trading, I have primarily day traded 60-70% of the time, the other trading I was doing  attempting was in options. My understanding of options is better than average, with that said, I know I am not sophisticated (smart) enough to implement too many complexed option strategies at one time.

See below for some of the various option strategies.  Options I have baking in the oven.

Today my P&L was positive $152, or I could say I was visiting "Profit Island", a phrase a shamelessly stole from Rhiese over on his blog Trading & Stuff.  The trader I want to be is the kind that trades 70% options and 30% day trading.

Options give a trader the ability to lock in the profit as well as the risk. At the end of the day, we are all trading because we believe we can identify and minimize our downside risk. Currently, my winning day trades gives my account that quick injection of P&L that makes trading feel worthwhile. However, with every winni…

Managing A Winning Trade Is As Good As It Gets

As I type this post, I feel fortunate to be able to just sit back and manage another winning trade. I am experimenting with how I will continue blogging here at Trin Café. As many of you know, the time and motivation it takes to post and the mental gymnastics required to keep the psychological aspect of trading in check is a daily grind. Posting on Trin Café has served as a therapeutic and creative space for me to share my thoughts on trading and as I said before, I appreciate the interaction with other retail traders which are a rare breed.

Good read: Jesse Livermore on Emotional Control By  in Trading Performance and Psychology "A trader can never become complacent. Livermore was always alert, ready, prepared to separate himself from the popular thinking of the moment, the group thinking that usually always drives the market, and to go in the opposite direction. Livermore believed in cycles. There is a time when things are good and a time when things turn bad. It is true i…

Getting Cocky 5/3/18

Let me paint the picture for you, I put a trade on within 5 minutes of turning on my computer. As I was getting out of the shower I heard on the radio that the DJIA was down 100+ points. Did I mention my wife and my toddler and I were about to leave the house this morning? The YM was hovering around a support area, within 5 minutes price dropped below support and I quickly executed YM short @ 23679. My entry was automated to enter a target @ 23679 which happen to be the next area of support and a stop @ 23730. I anticipated being stopped out for a loss and then the market would sell off without me.

So what's so cocky about that you ask? Now it's time to go take my kid to daycare and my wife to the
hospital who's been having baby contractions all night. With my trade working, I felt confident my(big) stop order was in place so my risk is baked into this trade. So, after dropping my kid off,
and checking my wife into the hospital, I had a chance to check in on my trade from my…

A Lot Of Trading Luck A Bit Of Skill?

As I type this my latest YM short is up around 60+ pts, then I was stopped out with a 39pt profit, I  am going to avoid being greedy, I admit that for me, greed and good aggressive trading is a very thin line. I have made multiple trades today while locking in profits and minimizing risk.

Trade moves further down without me, but I am ok with that, right now YM is testing S1, that's an additional 67 points I could say was left on the table, the truth is the money always belongs to the market until you close your position and access to trading screens. With that said, I need to close down my screens and post this before I give back my $145 profit to the market.

Good trading all.