What a morning. I ended up surviving the week. Even though it was -$500 week, it ended in a $200 net profit successful trade on AAPL 527.5 weekly expiration put options. I opened up my trading account this morning to see the balance of $140. By 10am it was at $540! so now there is plenty of room to build it next week and get back up to where it needs to be for proper risk management. On Monday the plan is patience and I just want to take a day where there are no entries until after Noon. I feel like it's a bad strategy to try and trade the morning unless you are risking very small % balance amounts because if you don't get the right move, you are screwed until 2PM when volatility picks up again.
Mar 7, 2014
Mar 6, 2014
I finally got back to my main office to do some work today. The past two days have been done remotely for end of day and nightly forex signals as well my own trading. Let me tell you that if you start working in a different area with things as emotionally taxing as day trading options, I would suggest not doing any work at all. My options trading tanked from $1,150 on Monday to $250 at the end of trading today and now I need AAPL to fall to 525 tomorrow to stay alive.
Mar 5, 2014
This morning is about psychology and trading. They go hand in hand as traders try to remove their ego and listen to the markets. Investors are either in for the long hall or out by cutting losses so what we are trying to do this morning is figure out what psychological factors are going to effect the price of stocks today March 5, 2014.
Mar 4, 2014
There is not much going on as far as data in the U.S. markets today so everyone will be trading the news in the Ukraine. It seems to be going better and this has got most underlying assets up about 1% to 1.5% in pre-market and will most likely trade up into the lunch hour.
Mar 3, 2014
Well we are going to start off the week down about 1.2% as futures have dipped ahead of the news in Ukraine. The market was already at inflated levels again and just looking for a reason to sell off. The SPX futures are down about 1% as well as the DJIA futures. There is a very good chance we end the day lower than the open unless somehow a resolution happens of there in Russia.