Rebel's Journey From A Cheap Engineer To A Super Trader - Page 2

I was about to post the same thing. Bought some 105 puts, as it looks like the S&P wants to take a break. Maybe come back and test that 1030 line, if we're lucky.

Naw, I've heard of it though. When I get more time I'll look into it, as it sounds pretty interesting.

BTW, Added 2 more contracts.

Thanks for link. Yeah, Amazon is starting to screw with me. We'll see.

Yeah, that's what I'm seeing. Also seeing a sort declining wedge on the 5min futures, with it finding support on the 20day. If it breaks that, then I believe we're headed to the 1030 level or the 50day, whichever comes first.

The break of the green line is what I'm waiting on. Although, now it seems like it's not wanting to follow the near-term bearish sentiment of the market as it was earlier. Might get stopped out pretty easily if the markets want to continue back up to 2%+.

Amazon finally fell off it's euphoric binge and broke through that trend line.

My biggest downfall is determining stops, to be completely honest. In my rules section, I stated my absolute stop loss is 60%. However, when determining a closer stop, I look at pure technicals.

For instance, if I think a stock is oversold and it's quickly approaching the 200day, I'll buy some calls. If it goes a little past it, then I'll give it some wiggle room. However, if it looks like the bounce is totally out of the question, then I'll have to cut my loses. This can be a costly way of getting out of something, but it's the way I feel most comfortable in ensuring I can let the plays run themselves out.

Crap, missed amazon hitting the 200 on the 5min. Was going to take some profit there, and let 1 or 2 contracts ride.

Locked in some profits and sold 4. Letting 2 ride into tomorrow. I'm out of freakin' day trades, which is really what I was dreading would happen. I think I should have another for tomorrow, but we'll see.

BTW, 5min futures are sitting right on the 200day. If it cracks through there, I think we're headed to 1017. We'll see.

They were only up 25%, which, by the looks of things, could of been much bigger. However, this early in the game I just wanna take things a little slow until I really feel confident in what I'm doing.