StockFetcher Forums · Filter Exchange · DOING IT AGAIN WITH THOSE SEPT BAC CALLS BUY AT 0.18 SELL AT 0.72<< 1 2 >>Post Follow-up
MARY4MONEY
806 posts
msg #79480
Ignore MARY4MONEY
9/17/2009 11:18:29 AM

I BOUGHT 8000 CONTRacts at 0.18 and sold them at 0.72 at bacs high today only had them 2 days-like i said if you have a great intraday setup- you can play bac to make alot of money--that a 300% gain

Kevin_in_GA
4,553 posts
msg #79481
Ignore Kevin_in_GA
9/17/2009 11:28:00 AM

Nice play.

I would love to see you post first when you buy, then later when you sell, rather than after the fun is over.

1. It will improve your credibility (not that this is needed, but it would certainly help).

2. It will help others better understand your systems and thought process when entering a trade.

Is this just based on the RSI(2) and LR(100) channels intraday?

karennma
6,831 posts
msg #79484
Ignore karennma
9/17/2009 11:42:30 AM

Kevin:
M4M already gave instructions ... but here they are in a nutshell.
1. Download Think or Swim
2. Sign up username & password
3. Click charts (I use Prophet)
4. Enter BAC
5. Click Symbol icon on top of chart
6. Click "Find Option"
7. Be sure correct symbol is in symbol box
8. Click "set"
9. Select Expir. Month and S.P.
(Sept. $17 call)


Kevin_in_GA
4,553 posts
msg #79485
Ignore Kevin_in_GA
9/17/2009 11:47:12 AM

Kevin:
M4M already gave instructions ... but here they are in a nutshell.
1. Download Think or Swim
2. Sign up username & password
3. Click charts (I use Prophet)
4. Enter BAC
5. Click Symbol icon on top of chart
6. Click "Find Option"
7. Be sure correct symbol is in symbol box
8. Click "set"
9. Select Expir. Month and S.P.
(Sept. $17 call)
++++++++++++++++++++++++++++++

Got it. But upon what indicator(s) are you basing a trade? What yu outlined above is how to place an order, not how to decide why and when to place it.

Honestly trying to get a better understanding of his system. Thanks.

karennma
6,831 posts
msg #79487
Ignore karennma
9/17/2009 11:52:33 AM

Here's another option that was a "steal" yesterday.
FAZ puts:
9/16/09 - Buy Sept $19 FAZ puts = 0.05 each ($5 per contract)
9/17/09 - Sell Sept $19 FAZ puts = 0.35 each ($35 per contract)

Had you bought 10 contracts for $50, you could've sold 'em for $350 (0.35) this morning.
Or, sold yesterday at the close for $275. (0.275)
:>)


karennma
6,831 posts
msg #79489
Ignore karennma
modified
9/17/2009 11:56:26 AM

Oh!
Sorry Kevin.
I'm using LRC 50% and 100%.
I'm assuming M4M is using the same.
BAC hit the bottom of the100% channel yesterday.
And hit the TOP of the 100% this a.m. ...
:>)

(oops, sorry. had to edit this. had wrong chart on my screen)


karennma
6,831 posts
msg #79491
Ignore karennma
9/17/2009 12:05:08 PM

I don't know how he determines his "dead top".
My indicators show the market "topped on 9-11-09.

:>(



Kevin_in_GA
4,553 posts
msg #79492
Ignore Kevin_in_GA
9/17/2009 12:14:57 PM

Got it. Thanks. Can't day trade at work, and can't trade options within my 401k account. Nonetheless, I try to learn more about how to trade every day.

This site is a great resource with great people.

trek
72 posts
msg #79512
Ignore trek
9/17/2009 2:53:51 PM

Karen,
Thanks for the indicators.

What time frame are you using with the LR channels? (Daily or intraday)

And how long is you time period?

Thanks,

Trek


karennma
6,831 posts
msg #79519
Ignore karennma
modified
9/17/2009 3:52:49 PM

Trek:
On the realtimestockquote page , as per M4M's instructions, here's the monthly.
Click Time Frame "monthly"
Click Frequency "daily".
Click "draw chart"
http://one.realtimestockquote.com/neochart/neochart.dll?co=realtime&mode=-1&idx_sym=&sb=fas&cn=us&chw=800&chh=400&inh=140&ty=2&ind=-1&inm=-1&sca=1&ref_rate=180&mov1=0&mov2=0&mov3=0&boll=0&chk_lin=on&lin=22&chk_vol=on&chk_rsi=on&rsi=2&sto1=15&sto2=5&sto3=5&wil=12&macd1=12&macd2=25&macd3=9&roc1=16&roc2=8&mfi=14

Someone can make this ** clickable **.

On Think or Swim, you can simply click any time frame you want.
For my purposes, I use 1 and 2 day frames for daytrading.
IF I weren't waiting for a bigger correction, the "dip" on the 1-day FAS chart was tradeable @ $85.50 @ 1:27 PM..
FAS rebounded to $88.20 within 2 hrs. Typically, THAT is how I make $$ ... just a $2 move yields $1 on the option.
So, one contract = $100, two contracts = $200, five contracts = $500, etc. ...


Edit:
Oh!
On T&S - 1 day = 1 minute, 2 day = 2 minute
I MEANT FAS, NOT FAZ.


StockFetcher Forums · Filter Exchange · DOING IT AGAIN WITH THOSE SEPT BAC CALLS BUY AT 0.18 SELL AT 0.72<< 1 2 >>Post Follow-up

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