VZ

VZ has been one of S/O's fav's for months. I was busy in our kitchen making breakfast when S/O said log on and get VZ Puts. So I did...we trade at our dining room table. It was about 9:41 he watched the charts while I finished breakfast. (That is something that makes it advantageous for us) Like I have said I do not usually trade during this time of year but I trust my S/O's vision on a trade...well on everything!

He sold out @ 10:28 and sold me out right after him.

He bought 50 Dec 48 Puts @ .55 and sold for .75 within seconds after selling himself out he sold mine and i had bought 54 Dec 48 Puts @ .55 and sold for .73. We are done for the day...and we are having French Toast preparing for snow tomorrow...so they say.

That's awesome that you guys trade together. Keep trading well

Thanks for the update Darcy- It is good to see them !

Great trade!

The friend I am mentoring did a practice trade on VZ and was really excited about the results. When he pointed out VZ, I hit the roof. I am like, "How did I miss that one". Again, good trade! I traded calls on AMZN. I went in on my 9:56 candle off my 13 and exited at 10:50 after the doji formed on the previous candle. I made $3 the stock price.

I do not know if anyone else has ever done this before, but I bought calls that expired yesterday. I had no idea the option price would change so quickly and drastically. I bought two positions (by accident). One did not get filled before Amateur Hour was over because the price moved quickly and drastically after I put in my Limit Order. Well, I waited for the 9:56 candle to enter again, but I bought next week calls and took my normal size position. The position I entered that did not get filled was less than $1000, but when the option price dropped, that order got filled. Now I am here with two positions. The stock is going up and my account is "sky rocketing". I am like what in the heck is going on- not complaining or anything. Well, when I noticed I made a huge mistake in entering my positions, I also noticed that the option I bought for nearly $1000 was filled and expired the same day of purchase (Yesterday). Oh my, that little trade had my account going nuts. Every tick my account moved. Well, I did not like that because, a few moves against me and the entire position was gone, so I let it move up about $2, and I exited that trade early, but my account was happy. I held the larger position until I had a clear reason to exit. With both positions, I will not disclose the percentage I earned on those trades- it is still almost unbelievable to me. I learned something totally different yesterday and will keep that in the back of my mind on Option Fridays!

Quote
rookie30
I traded calls on AMZN. I went in on my 9:56 candle off my 13 and exited at 10:50 after the doji formed on the previous candle.

Looks like I made almost the same trade. I bought AMZN Dec13 385 Calls at 09:54:56

However, I didn't see as much profit as you did. I'm not so good at letting my trades run yet. I've still got the mindset of grabbing a small profit when I see one. I really need to learn to exit better. I had a couple of good trades this week which could have been great trades had I not been so skittish and let it ride a little longer.

VZ trades similar to the Q's. I am not a big fan of VZ but S/O is. I don't like buying so many options. I am just a little more reserved. But S/O watches VZ everyday. This time of year I am just too busy with other things to watch the market. Got family coming in day after Christmas and will be really busy until after Jan 6.

I noted the bad thing about trading. One can get so involved that one forgets to take time for the important things...like Christmas. I've got some fellow traders like that. Last week S/O and I took off a few days and just walked around town looking in the store windows and drove around at night looking at Christmas lights on the houses.

The market is changing over...you can see it in the charts...but I won't be trading steady until after Jan 6th. Santa Claus rally or not I don't watch the marlet much during this holiday season...(Thanksgiving, Christmas and New Years) Too much activity and I am simply too busy.

My boss came by my office and did not leave until my "Sweet Spot" window had passed. After going back and looking at the movements, I most likely would have taken a chance at popping a small trade on AMZN again today. We will see what tomorrow holds. These are the days that take discipline and patient.

Happy Trading.....

Some day Rookie your boss will be seen in the sunset!

I've been watching charts on and off during the day just in case there might be something that I liked.


Traded LNKD... Chart was clear that I could get in for a fast trade.

Had FP's, good ADX and E on 10,5,and 3. Money flow was going down. I got in @ around 9:48 ITM...S/O bought out of the money.

LINKEDIN
12/18/2013 O STC LNKD Dec13 215 Put 5 $8.35 $14.95 $4,159.81
12/18/2013 O BTO LNKD Dec13 215 Put 5 $6.15 $14.95 ($3,090.11) 1,069.70
Total Realized Gain/Loss for LNKD $1,069.70

Done for the day S/O is not.

S/O bought 10 210 Dec Puts for 3.25 and sold for 4.70. His profit $1,448.68. He is still looking.

I hope the following helps some of you who want to trade shorter charts.

When you trade short charts remember you are trading SHORT CHARTS! What I mean is get in make a few $'s and get out in the same day. I put in a GTC for LNKD since I knew I woud be in and out of the house today finishing up with the wreaths and starting some Christmas cookies.

I mostly get out when I like my profit.I seldom wait for a signal but there are times I do wait.It all depends on the speed of the move..fast down can bring a fast up or a fast up can bring a fast down.

I am happy with a $100 dollar profit and will get out if the trade seems to be getting loose. What I mean is if I am getting a few candles opposite my trade and then a few in my direction chances are things are changing. Because I am trading short charts I seldom hang on or wait to see if the trade will change in my directon.

I will draw a line segment off the candle I bought off of. In other words if I buy off a 10 chart I put a line segment off the candle on the 10 close to where I bought in. I don't wait to see if a candle will come back to that area. If it even LOOKS like a pull back to the area I entered I get out. The speed of the move helps make big $'s but it also can move against you just as quick as it does for you. So watch that.

All of this depends on the zone you are in, the stock you are trading and the volume OF THE STOCK. It can also depend on any news about the stock...such as MA splitting 10 for 1 I knew when I heard the news that the stock would rise fast and fall fast. The PEAK play was in order.

When I am trading down and I have red candles on the BB at the sign of the first white candle I am looking for an exit specially if I am getting a white candle that opens higher than the last red candle. The opposite happens if I am trading up.

If you can't watch your charts often (about every 10 minutes) don't trade short charts. Learn from BCT how to trade big charts...just my advice.Well gotta go my friend is here ready to head to the store. I won't say good luck...I will say good trading.