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Thursday, September 30, 2010

The Diagonal Spread

Just added a basic description of the Diagonal strategy to the Options Strategies section. Check it out http://the-lazy-trader.blogspot.com/p/options-strategies.html#Diagonal.


Go to the bottom of this page in order to see the Legal Stuff

Wednesday, September 29, 2010

Calendar and Double Calendar

This is such a powerful strategy that many traders will only play the game using Calendars and Double Calendars. I added the initial concepts to the blog, which you can start reading here http://the-lazy-trader.blogspot.com/p/options-strategies.html#Calendar.
In the future I will try to explore some trades using this valuable strategies.
Have fun!


Go to the bottom of this page in order to see the Legal Stuff

Tuesday, September 28, 2010

Get Started on Options Trading

I just added a new page to the blog in my intent to educate. If I am going to talk about options here it makes sense to explain the basics before getting into more complicated stuff such as the Iron Condor explained some days ago.

So, go to the Get Started section and learn the very basics of options trading. Hopefully that will be a good starting point for you on this subject.

Friday, September 24, 2010

I totally suck

Got Kicked out this  morning in the USD/CAD trade put on last night with a 400ish dollar loss.
I totally suck!!! Trying to learn why that happened I discovered something called time frames!!

Thursday, September 23, 2010

Delving into Forex

After my first venture in XAU, I decided to allocate some free time towards delving into the Forex market. I am totally new at it, and my first task was to look for good information, preferably free on the internet.

I stumbled on this great site that offers lots of free education, tools and resources http://www.babypips.com.

Tuesday, September 21, 2010

The perfect parasite

Hello fellas!!

Wouldn't it be nice if you had money coming into your pocket just like that? Without doing much for it? Everyone would love that! But the point is that if it were possible for everybody the world would be a bigger mess than what it is now. Someone has got to work! So, only those that try to get some education in finances (get educated buddy (stocks, options, Forex, real state, whatever)) and only those with more desire to win than fear of losing have a shot at it. A shot at being the perfect parasite!!

It's been a little busy the last few days, but I have kept an eye on XAU while the market has been going up and up.

Thursday, September 16, 2010

Adjusting the Iron Condor

XAU hit a high of $193.92 today, and although it went down later on, I decided to adjust the Call options of our initial Iron Condor explained here

Initially our position was

Bought 10 OCT 175 PUT       @ $2.55 (-)
Sold     10 OCT 180 PUT       @ $3.80 (+)
Sold     10 OCT 192.5 CALL @ $5.50 (+)
Bought 10 OCT 197.5 CALL @ $3.60 (-)

Tuesday, September 14, 2010

Taking care of our Iron Condor

Uuufffff, scary upside movement on XAU today. It closed at $190.70 but reached a peak of $193.21 during the day. I would have adjusted had it broken the $193.75 mark, but it didn't. If we had adjusted, now our profit picture would look different (less profit). But that's the importance of been serious with this "rules" thing. It's like the woman of your life. You don't cheat on her!!!

According to many "gurus" the market must be getting close to a correction. I don't care about that, and anyways XAU tends to go on its own way. Take its one year chart for example and compare it to that of the DOW Jones and you will see why I say that.

Sunday, September 12, 2010

Stop Overtrading!

One of the most difficult stuffs when dealing with neutral strategies is, believe it or not, to avoid over trading, avoid over adjusting your positions.

Set some ground rules from the beginning and stick to them. For example in the trade I analyzed yesterday, if our downside break even point ($176.83) is threatened I would adjust. But what is the meaning of "threatened" here? Well, that's when your personal flavor comes in. For me, I said to myself, if XAU goes down to $178.50, I will close the Puts side of the trade:

Saturday, September 11, 2010

Trading an Iron Condor position in XAU

Hello lazy traders,

I recently put on an Iron Condor position (paper trading) on XAU (Phlx Glod/Silver Sector) where I really like my odds. Usually Iron Condor players only aim for a 10% return on investment or something like that, sometimes even less. Sorry guys, but not worth my time. It just doesn't work for me.

This position was open on September 8th, and looks like this