Stock Trading

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Jocose
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Post by Jocose »

Del wrote: 28 Sep 2022, 13:34 I'm ready for a drink.
=================================

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Post by Del »

Jocose wrote: 28 Sep 2022, 13:45
Del wrote: 28 Sep 2022, 13:34 I'm ready for a drink.
=================================

Wherever there's 4 Catholics there's usually a 1/5th
It's perk.
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Post by sweetandsour »

Del wrote: 28 Sep 2022, 13:34
sweetandsour wrote: 28 Sep 2022, 11:18ping
OMG! What a dreadful day! Pull up a chart of RUT if you wish, and set it to 10-minute candles. :geek:

I woke up this morning with an awesome total of $3127 in premium for this week.

I still had most of this -- with a strong shot at holding on to all of it -- until 2:00 pm.

My short call strike is in the money at 1710. A late afternoon surge started.

It was too late to make adjustments, just an hour short of expiration. So I had to trust and hope for the common phenomenon of a small sell-off at the end of the day, which often happens on surge days.

At the top, 10 minutes before market close, I was looking at $7640 pay-out.... giving back all of my premium, plus taking $4513 from my pocket. :doh:

At 2:50, the index started to sell. Ten minutes later, the index closed at 1715.24.

I'll get to keep $507 profit for the week. I'm ready for a drink.
=================================

In aviation, there is a proverb: Any landing you can walk away from is a good landing.

I'm walking away from a crash without a scratch. I must be thankful.
Congrats! Money was made yesterday. You won't go broke.
The Indians will not bother you now, on account of ... you are touched.
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Post by Del »

sweetandsour wrote: 28 Sep 2022, 22:13
Del wrote: 28 Sep 2022, 13:34
sweetandsour wrote: 28 Sep 2022, 11:18ping
OMG! What a dreadful day! Pull up a chart of RUT if you wish, and set it to 10-minute candles. :geek:

I woke up this morning with an awesome total of $3127 in premium for this week.

I still had most of this -- with a strong shot at holding on to all of it -- until 2:00 pm.

My short call strike is in the money at 1710. A late afternoon surge started.

It was too late to make adjustments, just an hour short of expiration. So I had to trust and hope for the common phenomenon of a small sell-off at the end of the day, which often happens on surge days.

At the top, 10 minutes before market close, I was looking at $7640 pay-out.... giving back all of my premium, plus taking $4513 from my pocket. :doh:

At 2:50, the index started to sell. Ten minutes later, the index closed at 1715.24.

I'll get to keep $507 profit for the week. I'm ready for a drink.
=================================

In aviation, there is a proverb: Any landing you can walk away from is a good landing.

I'm walking away from a crash without a scratch. I must be thankful.
Congrats! Money was made yesterday. You won't go broke.
Okay. I set up a new condor for this week. $5000 at risk for $808 in premium. That's 16% return in one week on the position.

Bell curve estimates 10% risk of index moving above or below my targets by next Wednesday afternoon.

Dammit, I will be content with this.
I will not add more contracts and increase my risk.
I will not roll the legs in for more premium and increase my risk.
I will leave it alone unless and until the market forces me to make an adjustment.
============================

I cut my energy position by half. I was in XLE and DRLL. They are both energy indexes. I was only in DRLL because it is not managed by State Street and their woke ESR principles.... but volume is low and call options are not available. And I don't get any margin credit for the DRLL position. So even though I like the fund, it just isn't suitable for trading. My retirement assets are still in DRLL.

I sold DRLL while XLE was trading above 72, so relatively good price. If recession deepens and market takes another drop, I will buy more XLE at bargain.
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Post by sweetandsour »

Del wrote: 29 Sep 2022, 11:51
sweetandsour wrote: 28 Sep 2022, 22:13
Del wrote: 28 Sep 2022, 13:34

OMG! What a dreadful day! Pull up a chart of RUT if you wish, and set it to 10-minute candles. :geek:

I woke up this morning with an awesome total of $3127 in premium for this week.

I still had most of this -- with a strong shot at holding on to all of it -- until 2:00 pm.

My short call strike is in the money at 1710. A late afternoon surge started.

It was too late to make adjustments, just an hour short of expiration. So I had to trust and hope for the common phenomenon of a small sell-off at the end of the day, which often happens on surge days.

At the top, 10 minutes before market close, I was looking at $7640 pay-out.... giving back all of my premium, plus taking $4513 from my pocket. :doh:

At 2:50, the index started to sell. Ten minutes later, the index closed at 1715.24.

I'll get to keep $507 profit for the week. I'm ready for a drink.
=================================

In aviation, there is a proverb: Any landing you can walk away from is a good landing.

I'm walking away from a crash without a scratch. I must be thankful.
Congrats! Money was made yesterday. You won't go broke.
Okay. I set up a new condor for this week. $5000 at risk for $808 in premium. That's 16% return in one week on the position.

Bell curve estimates 10% risk of index moving above or below my targets by next Wednesday afternoon.

Dammit, I will be content with this.
I will not add more contracts and increase my risk.
I will not roll the legs in for more premium and increase my risk.
I will leave it alone unless and until the market forces me to make an adjustment.
============================

I cut my energy position by half. I was in XLE and DRLL. They are both energy indexes. I was only in DRLL because it is not managed by State Street and their woke ESR principles.... but volume is low and call options are not available. And I don't get any margin credit for the DRLL position. So even though I like the fund, it just isn't suitable for trading. My retirement assets are still in DRLL.

I sold DRLL while XLE was trading above 72, so relatively good price. If recession deepens and market takes another drop, I will buy more XLE at bargain.
Good luck!

I sold half of my XLE (against the advice of a couple of friends that I golf with), so I could use the funds for something else, like dollar cost averaging SPY perhaps.
The Indians will not bother you now, on account of ... you are touched.
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Post by Del »

sweetandsour wrote: 29 Sep 2022, 12:49
Del wrote: 29 Sep 2022, 11:51
sweetandsour wrote: 28 Sep 2022, 22:13

Congrats! Money was made yesterday. You won't go broke.
Okay. I set up a new condor for this week. $5000 at risk for $808 in premium. That's 16% return in one week on the position.

Bell curve estimates 10% risk of index moving above or below my targets by next Wednesday afternoon.

Dammit, I will be content with this.
I will not add more contracts and increase my risk.
I will not roll the legs in for more premium and increase my risk.
I will leave it alone unless and until the market forces me to make an adjustment.
============================

I cut my energy position by half. I was in XLE and DRLL. They are both energy indexes. I was only in DRLL because it is not managed by State Street and their woke ESR principles.... but volume is low and call options are not available. And I don't get any margin credit for the DRLL position. So even though I like the fund, it just isn't suitable for trading. My retirement assets are still in DRLL.

I sold DRLL while XLE was trading above 72, so relatively good price. If recession deepens and market takes another drop, I will buy more XLE at bargain.
Good luck!

I sold half of my XLE (against the advice of a couple of friends that I golf with), so I could use the funds for something else, like dollar cost averaging SPY perhaps.
SPY and XLK set new lows today, led down by the tech sector.

XLE closed even with yesterday's rally high.

Remember that gap down in copper and energy from last week, as global recession fears surged? Copper has closed that gap, perhaps bouyed by hope for a nasty peace in Ukraine and prospect of rebuilding.
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Post by Del »

It's the end of the month again. Time to assess my progress -- or rather, lack of progress. September has been brutal.

Balance and performance:
My trading account started year at $23,500. Currently $28,500. $5000 gain YTD. 21.3% return, YTD. Average 2.4% per month.

Since End of August: $30,600. $2100 loss. Much of that due to the overall drop in market afflicting my copper and oil stocks. I lost a net $1000 in overly risky options trades. It could have been a lot worse.

Iron Condors on Russell 2000 Index (RUT)
This has been my workhorse investment, but I should have calmed down in September with wider spreads and smaller position sizes. YTD profits $6100.

Let's update my table of performance in recent weeks:

Week ending; profit/loss:
7/6 $693
7/13 $1194
7/20 $1073
7/27 $-1614
8/3 $1071
8/10 $1328
8/17 $934
8/24 $80
8/31 $1405
9/7 $-298
9/14 $-2054
9/21 $867
9/28 $507
10/6 $808 (just opened)
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Post by sweetandsour »

Del wrote: 29 Sep 2022, 14:44 It's the end of the month again. Time to assess my progress -- or rather, lack of progress. September has been brutal.

Balance and performance:
My trading account started year at $23,500. Currently $28,500. $5000 gain YTD. 21.3% return, YTD. Average 2.4% per month.

Since End of August: $30,600. $2100 loss. Much of that due to the overall drop in market afflicting my copper and oil stocks. I lost a net $1000 in overly risky options trades. It could have been a lot worse.

Iron Condors on Russell 2000 Index (RUT)
This has been my workhorse investment, but I should have calmed down in September with wider spreads and smaller position sizes. YTD profits $6100.

Let's update my table of performance in recent weeks:

Week ending; profit/loss:
7/6 $693
7/13 $1194
7/20 $1073
7/27 $-1614
8/3 $1071
8/10 $1328
8/17 $934
8/24 $80
8/31 $1405
9/7 $-298
9/14 $-2054
9/21 $867
9/28 $507
10/6 $808 (just opened)
My play account is ~1/2 what yours is. In summary, March was great, June was terrible, and Sept was ~ 2.9%, but YTD I'm still +7%. I'm still nowhere near doing condors, and not sure that I ever will be, or even just covered calls or puts.
The Indians will not bother you now, on account of ... you are touched.
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Post by Jocose »

The views expressed here are either mine or not my own, not sure.
The opinions expressed here may or may not be my own.
I post links to stuff.
Make your own choices.
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Del
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Post by Del »

sweetandsour wrote: 30 Sep 2022, 06:09
My play account is ~1/2 what yours is. In summary, March was great, June was terrible, and Sept was ~ 2.9%, but YTD I'm still +7%. I'm still nowhere near doing condors, and not sure that I ever will be, or even just covered calls or puts.
Size of the account isn't important. I lost a lot of money to get where I am today. The first goal is learning how to trade for consistent profit.

However.... when we get to the point of trading successfully, then the goal is to grow the account to where we can harvest money for whatever goals we have in mind. Big charity contributions, or a legacy for kids, or college for grandkids, or monthly income for our sweetie.

Us older guys don't have a lot of time, but successful trading compounds quickly.

I committed myself to learning how to trade options because I want to make cash flow -- whether the market goes up, or down, or sideways.
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