Trader lounge

Margin, what is your safe haven when you get hammered on /ES?

I don't trade /ES too often anymore. When I did, my safe haven was cash and no trading. If I felt like trading after big losses I would trade a smaller contract like /NQ. There are some micro futures contracts, as well.

What was the rationale behind your safe haven picks?

Margin Call wrote:I don't trade /ES too often anymore. When I did, my safe haven was cash and no trading. If I felt like trading after big losses I would trade a smaller contract like /NQ. There are some micro futures contracts, as well.

What was the rationale behind your safe haven picks?

I probably don't place as much thought into stock picks as I should. I just start off with a ratings screen and then confirm that fundamentals are good. If that doesn't narrow me down to 6 or less, I just glance at price charts and go with my gut feeling.

The KeyRev strategy works great as I have it set up, normally (I've added a profit target strategy, as well)....until there are gaps up and gaps down on the daily. I have to close the positions on gaps, even if they are in my favor, because those tend to be very large losers on the reports. Additionally, I've lost out on profits by not being able to monitor the strategies on my phone....I had a $500 visit to the gym this week. I still think I can tweak this to work in my favor. Updates forthcoming.

Margin Call wrote:The KeyRev strategy works great as I have it set up, normally (I've added a profit target strategy, as well)....until there are gaps up and gaps down on the daily. I have to close the positions on gaps, even if they are in my favor, because those tend to be very large losers on the reports. Additionally, I've lost out on profits by not being able to monitor the strategies on my phone....I had a $500 visit to the gym this week. I still think I can tweak this to work in my favor. Updates forthcoming.

at least you got to go to the gym. I feel alsleep and the girls went off with my visa. so I had a $500 nap. < I wasnt really napping. .

Margin Call wrote:The KeyRev strategy works great as I have it set up, normally (I've added a profit target strategy, as well)....until there are gaps up and gaps down on the daily. I have to close the positions on gaps, even if they are in my favor, because those tend to be very large losers on the reports. Additionally, I've lost out on profits by not being able to monitor the strategies on my phone....I had a $500 visit to the gym this week. I still think I can tweak this to work in my favor. Updates forthcoming.

Once TOS finally allows for automation, this strategy is basically a money making machine so long as you know when to turn it off.

I'm going to open a small account at OptionsHouse to use this:

http://www.prodigiorts.com/

I played around with Prodigio a little when it was offered through TOS, but never put a strategy into action. What I liked most about it was that you could program it to turn of (stop trading) under certain criteria.

Well.....there goes my weekend.

Margin Call wrote:I'm going to open a small account at OptionsHouse to use this:

http://www.prodigiorts.com/

I played around with Prodigio a little when it was offered through TOS, but never put a strategy into action. What I liked most about it was that you could program it to turn of (stop trading) under certain criteria.

Let me know how that goes. I have been thinking about moving away from ameritrade and TOS to a console that allows you to automate a strategy. I know they're out there.

Prodigio has futures quotes, but the broker doesn't allow futures trading. What's dumber is that OptionsHouse does not have options trading on its Prodigio system. Bailed on the idea.

Bitcoin buzz is heating up again and gold is falling. Asset rotation?

If that is the case, I would think it would be safer to buy deep out-of-the-money puts in gold instead of tying up funds in an electronic currency that the government could meddle with.

Never messed with that stuff.

boards of FL wrote:Never messed with that stuff.

Me either, but the chart is a thing of beauty. Yep. That's a year-to-date chart....up 700%.

http://bitcoincharts.com/charts/mtgoxUSD#rg90ztgSzm1g10zm2g25zv

Up 12% today.

Tulipmania redux.

Dammit. Bitcoins up another 20%+ today.

The money launderers are loving this.

I'm beating bitcoin today:

Boards,

Check this site out.

http://www.zignals.com/main/

Bitcoins have nearly doubled in value since last week. Drug dealers getting richer.

$240

I'm still nursing my /es wounds with my stock portfolio. I plan on waiting until I gain a few thousand before I'm back in /es again.

Honestly, if I were smart I would just stick to buying stocks on leverage. I make good gains there and then switch to /es. Then, in /es, I do unbelievably well, feel invincible, and give them all back.

Rinse and repeat.

My hope is that I will one day be able keep my emotions in check while dealing with /es. If I can, i'm gold.

Are you still working with "the strategy"?

heh...

heh... is right.

boards of FL wrote:I'm still nursing my /es wounds with my stock portfolio. I plan on waiting until I gain a few thousand before I'm back in /es again.

Honestly, if I were smart I would just stick to buying stocks on leverage. I make good gains there and then switch to /es. Then, in /es, I do unbelievably well, feel invincible, and give them all back.

Rinse and repeat.

My hope is that I will one day be able keep my emotions in check while dealing with /es. If I can, i'm gold.

Are you still working with "the strategy"?

I haven't revisited it since I spent several hours working with it last weekend. I really like the Pattern DNA feature.

Meanwhile, Bitcoins getting spanked.....$266 down to $150s today.