Cubs18 trek from $8,000 to $25,000 (CURRENT $25,300) - Trade Journal of a 20 year old trader - Page 6

down about 2600 on those GOOG puts, if it breaks range to the upside, im out.  still think this market is weak and the rally ends at the start of next week/maybe friday even

also sold my CLDX at 3.96

i dunno actually might sell them and buy them back on Friday...not sure what I will do

Quote:

Originally Posted by Lieutenant2006 

@Cubs18, rookie question but how do you know which options to pursue and do research on?
Thanks in Advance

Hey Lieutenant!  For the most part, I just trade options of the high flyers like AAPL, GOOG, CMG etc.  There are others but those are just a few examples.  I have been trading the weekly options lately because I believe I benefit off the increased volatility.  However, the volatility can also hurt you...badly.  You have to cut losses QUICK with weeklies or they can get big very quick. 

My current GOOG trade is a larger trade $$$ wise so I wanted to play it a little safer (still super risky) by playing the 600 puts that expire in July.  So I have some time for the stock to reach the low 500 area where I believe it is headed.  

Hopefully that answers your question. 

Feel free to ask anymore!

Just reiterating the fact that if GOOG breaks that top range, I am out.  So much resistance above that I am pretty confident it will stick in the range or break lower next week. 

Added 4000 more UWBKQ shares. 

Well at this point, holding my large GOOG puts position and LNKD puts position looks like a good choice. 

LNKD off 7% and GOOG looking to break 600. 

Quote:

Originally Posted by Rock Sexton 

 

...... "And you believe this because" is what you really should be explaining to guys like Lieutenant who are surely shadowing you now.  Comes with the territory when you get on a heater.

Sorry my thread is not up to your standards.  I don't advocate anyone to follow my trades as I have said a lot I trade SUPER HIGH RISK. 

DON'T FOLLOW MY TRADES UNLESS YOU ARE OKAY WITH LOSING ALL YOUR $$$$$

but really..don't

Quote:

Originally Posted by Lieutenant2006 

@Cubs thanks for the help bro big props... How did you gain your experience and knowledge, I've read Reminiscences oF a Stock Operator, what other material would you recommend to further anyone's education about options?

No problem!  Basically I just gained experience and knowledge from jumping into to it.  I didn't have anyone to really guide me and teach me anything so I basically learned everything myself.  That is the only book I ever read.  Investopedia has some good information on options.  http://www.investopedia.com/university/options/ 

I would say to paper trade options which is probably the best, but for me it didn't work.  I am the type of person who can't really take something very serious unless I have something in the game.  So jumping in and using my $$ to trade and learn from mistakes was best for me.  That is not for everyone though.  I was in High School at that time and didn't have any bills or obligations to pay for.  When you have bills etc, you can't exactly afford to just keep messing around and losing money obviously.  I was just messing around with like 2,000 in stocks.  

Quote:

Originally Posted by Rock Sexton 

 

Has nothing to do with standards.

 

Whether you like it or not, as you can see you're attracting attention in your journal with that big AAPL trade whereby almost tripling your account in 1 day.  It's only natural they're going to want to know "why" you're picking what you pick.  I get the impression by your lashing out that there isn't much to it other than you just pick something and go with it.

GOOG is range bound and has been for awhile.  As I have said earlier, if it breaks that range to the upside, I am out of this trade.  I believe over the summer or near future the market is heading down, thus GOOG will also decrease in price.  I was over trading with trying to day trade options so I have decided to take a step back and I looked for a short-mid term position to go in.  I found multiple positions that I liked, but GOOG ended up being my favorite choice out of those. 

Anyways, I am out for today and throughout the long weekend.  Gonna go celebrate my week and my birthday with friends.  No posting until Monday night. 

Have a good and safe weekend HSM. 

Quote:

Originally Posted by neophyte 

Have a great birthday!

 

Happy Birthday!!!

Thanks neo!

I know I said I wasn't posting until Monday night,  but I just wanted to say that GOOG trade is working great.  Looking for lots more downside. 

Up around 4k so far.  Should be peanuts down the road.