My strategy is different in that I prefer to do them ALL at the same strike price. Further, my strategy is more of a Backspread because I sell LESS options than I buy. This is contrary to McMillan's strategy and requires no additional cash to the cost of the trade itself.
Those of you interested in my approach and want to follow this discussion, please send an e-mail to Paperprofit1@Mac.com and ask me for the pdf files describing my strategies.
Those of you with Platinum, please take a look at the list of 52 week highs below. We want to select a candidate for a PCCRC.
Hint: look at the 2 year IV chart and select stocks with low IV. Also, look at the IV/SV ratio chart, and select stocks with ratios below 1. If you have Platinum, post your structured trades, so that I can comment. I will actually enter the best candidate next week if we find a good one.
Here are three PCCRC's I currently hold
9 comments:
I have been on the Optionetics two day Seminar, so I have been reviewing other strategies and listening and learning.
During the Seminar Calendars were discussed with a back month buy of two months and front month less than 30 days, as a lower risk trade.
Also I am going to review my trades and compare the CRC/PRC with a a Call Calendar ATM plus an additional Bought Call one strike OTM or a Put Calendar ATM plus an additional Bought Put one strike OTM depending on direction.
accountholder,
RE: "Where do you live, by the way?"
I missed your previous question, as I have been so busy.
North of London, England.
And youself? United States I assume?
Varun,
RE: "I am a big fan of your ramblings...... Excellent ramblings I may say."
Thanks, but credit goes to Juan too. It is good of him to start all this.
However, I am going to try and improve the monitoring of the trades, the best I can.
You have already seen that in 26th October 2005 post. I am going to use a word document to update and C&P into the Blogger.
PETM, unfortunately I missed that move. I was on the computer, reviewing my trades. Then the account went $200 further into deficit, but IB threw a 'wobbley' on me. I did not see it.
Now under my new money management scheme, if it goes like that I exit and take a profit. Currently -$39 on that trade, may have made close to $150 (I'm guessing) if I had sold on the close.
I am still $500 up from the start of all this. That is screwing up money management. I feel that if we have a couple of good weeks, play it conservatively, our accounts will grow again.
My last paragraph was unclear,
"I am still $500 up from the start of all this, even though I screwed up on the money management. I feel that if we have a couple of good weeks, play it conservatively, our accounts will grow again. It will all come good.
HK,
We will all be interested in how you learn on the Elliotician software. Kepp us posted please. Thanks.
Juan,
I have downloaded most of your articles on this message board. So I am going to review your previous projections and hopefully I will have something posted tomorrow morning.
Keep up the good work.
Today, I found this comment at the Optionetics Advanced Strategies Discussion board:
"My question is what comprises a good TLJ trade? Can you develop a good search on platinium, and why would one do this trade other than a simpler strategy. What about diagonal trades? They are in our advanced manual. Has anyone had any success with this strategy."
Would anyone with access to this site, be like to suggest to Sean to write me an e-mail!?
Thanks,
Juan
Fortitude,
I will be going on a vacation tommorrow for 6 days. Will keep you posted on my progress with the Elliottician after that.
Nice blog, Juan Sarmiento. There's an interesting site about day trading information at day trading information.
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