all you need is one stock....

I think it has to be about trading well. If you are trading well, the percentages will fall in your favor. If you follow Gary's rules for option purchases, it's easy to determine which option that was selected, and thus you can figure the percentages from that point.

Please don't think I'm trying to step on anyones toes here. I'm just adding to the conversation.

Just for something to do, and also for learning. I used TOS "OnDemand" and played back a few of the trades on GOOG. Once I found the entry, I selected the options based on GW's option purchasing rules. I then moved forward to exit time, and checked the option price again. That gave me a ball park idea of the options movement during that time. For me it's not about percentages or even which option was selected. It's about pegging the entry point, and exit point. I've had many trades that go my way BIG TIME, but I stayed to long, and it backed up on me. Gotta love that :-) The worst is when I just getting into a trade, not when the trade has been going for a week or more. Lots of times I enter a trade thinking it's going to last 5 or more days, only to have it reverse after 2 1/2 days. Those are the trades that drive me batty :-)

Raleigh Trader --

Intentions were not to impress you. Pt was to show that big charts could be utlized by 1 stock and be effective.

BCT

BCT,

This is a really great post and thread.

Just two general questions on big charts exit criteria:

1. Do you use stop limits with your option trades?

2. How much downside swing do you allow (percentage)?

I have been practicing big charts and find that the volatility can stop me out pretty quickly over 3-10 days.

I usually set 15% stop limits on my option buys.

Thanks for your insights and thoughts.

wallemac

Wallemac

1. No
2. Dont look at the price. Wouldnt know what the swing is. When the autowave forms I pay attn to the MACD. If both look like they are done then I get out.

BCT

thanks for the feed back and insights.

wallemac

BCT - Did Gary add autowave to his class material or is that something you added on your own? (sorry if that's already been asked)

Also, do you have any more big chart trades that you made during the last quarter of the year that you wouldn't mind sharing? The repetition of seeing your entry/exit points is valuable. Thanks very much

fencepost

Sorry I havent answered your question before now. Gary added the autowave. I could list some of the trades or you could tell me your big chart trades and I will try to help you break them down. Just let me know and dont send any trades that you are currently in.

BCT