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Monday, October 31, 2011

November SPY position closed

Demo Trading:

The trade open here as part of an adjustment was closed today as the markets went down yielding a nice profit for this bearish position (Bull Call Spread).
The trade was as follows:

Thursday, October 27, 2011

November SPY Credit Call spread adjustment

Demo trading:
I adjusted the SPY Bear Call spread initially opened here, by closing the position and opening a new Credit Call Spread using the 133/135 November Calls. The rally today was INSANE, and although markets are overbought, the massive short squeeze can keep the markets overbought for a while. I totally underestimated the conversations in Europe to solve Greeks' debt issues. Good lesson for life.

The trade was as follows:

Tuesday, October 25, 2011

November SPX Bull Put Spread

Demo-trading:

Sell 5 SPX Nov 1125 Put @7.60
Buy 5 SPX Nov 1120 Put @6.80

As a result a 0.80 credit was obtained per vertical, meaning a total of 0.80 * 5 * 100 = $400 dollars of credit. The maximum loss in this play is $2100 if the market falls abruptly before November 19 and SPX ends up below 1124.20.

Monday, October 24, 2011

November QQQ Bear Call Credit Spread

Market still getting insane on its way up. Very low volume though. Just sold the Nov 61 Call and Bought the Nov 63 Call on the QQQs. Everything for a 0.33 credit. 12 contracts per leg, maximum risk $2040. Potential reward $396. QQQ would need to go up to 61.33 in order for the position to start losing money at expiration.

Sunday, October 23, 2011

Robots or Humans in trading?

Nowadays, there is a huge trading volume that belongs to automated trading. Make no mistake, I'm not talking about $97 Forex Expert Advisors (EA). There is this blog I follow TopDogTrading that started a poll a few days ago.

Saturday, October 22, 2011

Getting started with serious demo-trading

In the morning of October the 20th, two days ago, I officially started my serious attempt at trading income plays and keep a record in this blog.

The trade was a Bear Call Spread, and it was entered as follows:

Sell 12 SPY Nov 130 Call @0.65
Buy 12 SPY Nov 132 Call @0.35

Friday, October 21, 2011

I have lost my ass

Yup.....I lost it,....and I don't know where I put it.
Nah nah, just to start off with a small comic line after a while absent. I'm in a good mood today, probably because it was pay day at the office ;)

I haven't lost my ass, what I have lost is a lot of money in the few months I've been trading which makes me part of the 90% - 95% of traders who lose money.

GPS Forex robot team lies

This is a follow up on my previous article which you can find here.

On Monday May 9 there was a sell off in the EURUSD pair late in the day. Given that GPS only goes long EUR it had a hard time and lost its trade miserably, -88 pips. The entry was at about 1.4375 a few seconds after 7pm Eastern Time.