Rookie look at your $95.00 this way... It took 20 minutes. If a kid came to your door and said they would cut your grass and that it would take them 20 minutes and all they wanted to do the job was $95.00...would that $95.00 seem like a lot of money then? It isn't the amount. It is the fact that you got back into trading. This is the worst market I have seen since 2004 as far as going up orby Darcy - Trading Discussion
What I have taken away from my news trades are (1) they are stock specific (2) don’t stay in them long and (3) look for a peak or slam in the trade. I usually (there is no always in the market) can trade pharma off GOOD or BAD news. This is the ONLY time I consider trading pharma and the only time I use a news trade. When good news came out about DNDN I played a PEAK play. (See 55 chaby Darcy - Trading Discussion
Nope he is no longer on line. As to having classes he may in the future have classes only in Raliegh...haven't heard any more on that idea...only heard it mentioned once. Gary is a great mentor. I hope he continues in some fashion but I would say teaching is tiresome and as we all learned a lot of folks want we have learned without earning it. I can't imagine how much Gary is pulled for the sby Darcy - Trading Discussion
While chatting today on line here.... I was in a FFIV Sept. 110.00 Call. ((That is an advantage of duel computers a laptop and 4 screens.)) It was out of the Bolinger Bands this morning but all indications looked like I could ride the thing for maybe a $1 in my option. My cost was 2.08 for 15 contracts I sold at 9:52 AM @ 3.05 for a profit of 1456.98. I generally do not buy the same monthby Darcy - Trading Discussion
No. I had some of those also but when I refused to assist they with drew. If it were me I would pray for him because he is about to lose perhaps everything he has. I also know someone who is a friend of a friend who did this. They traded just the news and needless to say for a while they did good. But they ended up losing their trading money 4 times. The best thing you can do is warn himby Darcy - Trading Discussion
I have a friend who trades off downgrades. I have been testing his trade and thus far have concluded that trading on a downgrade is good IF there is volume in the stock, IF the charts agree with the downgrade and IF the firm giving the downgrade is well known. Yesterday I traded NKE on a downgrade from Citigroup. The charts confirmed the downgrade when NKE opened with a gap on the 55. I love tby Darcy - Trading Discussion
I do not generally hold over night because of this sort of market. But had I held my CMG stock and had I known it better I could have cleared over $12, 700.00...but I am still happy in Seattle. Though I must admit with the cooler fall weather I would have enjoyed some heat!by Darcy - Trading Discussion
Chipotle is a stock that has interested me for a while. Generally I don't like pharma, restaurants, trucks, rails or retail for trading but it was looking interesting because of the gaps. So yesterday I traded a Sept call on CMG. This time however I bought out of the money. I have been studying information about options...(book) Trading Options for Dummies. Because there was a double gap onby Darcy - Trading Discussion
BTW I also like FFIV at certain times. I trade it about 4 - 6 times a year and that's all.by Darcy - Trading Discussion
I do Widow and Orphans with AAPL virtual. I have paid for my 200 share purchase doing widow and orphans. My goal is to purchase 200 shares real money on a pull back and do widow and orphans on the weekly options. I do not trade AAPL. Why should I when I make good on CF, CRM and AMZN? If you find your timing is off on AAPL practice it and trade real where you are doing well.by Darcy - Trading Discussion
Only buy out of the money when the stock nears the strike price of out of the money. I haven't traded at all since my last CF trade. This market is so low on volume I actually think I aged 3 years waiting for a trade...so I am just cooling my jets and watching right now...doing virtual.by Darcy - Trading Discussion
I traded CF out of the money and cleared $945 and change. With volume this horrid I am surprised stocks moved at all. Anyway I decided to take off and spend some time with the family after the CF trade. We've had a great time doing little more than laughing!by Darcy - Trading Discussion
...Volume is horrid!!! But then most of the floor is taking their last vacation before school. One thing I learned over the last week or so. If you trade in a cash account you can trade every day 5, 6, 7 times all week. But if you have a margin account you can not. 2 trades runs you close and 3 trades and you are done. What does that mean? It means if you do not get a great move on your firby Darcy - Trading Discussion
Rookie, Thank you for the very nice complement. Interestingly enough I was a writer with my own local newspaper column. I am glad I am helpful.by Darcy - Trading Discussion
I have tried to stay away because I felt like I was hogging the board but I had to share this with you all. I knew AMZN was the stock to watch in my basket. I bought AMZN to go down and sold this morning. I bought AMZN when it hit about $224.15 and sold this morning when it hit about $213.50...a $10.65 move down. I am done for the week. Okay so here is how I knew. I look at the Daily charby Darcy - Trading Discussion
tradergirl, I only use all sessions on my futures. I do not use my 21 chart (I call it my moving average chart) on the futures. I use the 1,5,or 8 for my entry. I look at the moving averages on these charts giving the 20 moving average as the strongest support or resistance. If you need another way to find support and resistance other than gaps, which for me is equal to the moving averby Darcy - Trading Discussion
erica1016 First let me say I am by no means an expert. I do not claim to be. I am only sharing with fellow traders what I do. Second let me say I don’t think ANY question is ever stupid. Let me tell you about my first practice trade! It is so funny…I still can’t believe I did such a thing. Anyway I was going to play a Call. I wanted to get my option cheap and I really did. I was so excby Darcy - Trading Discussion
rookie, Go to Investopedia.....they have one of the best information sites on Gaps I have yet to read or see. Today (June 27) if you look at CF on the 21 chart you will see an exhaustion gap. It is as clear to see as anything I have ever seen. An exhaustion gap closes the gap but then will return to the direction the stock had been traveling. Exactly what CF did today. As you look at those Gapby Darcy - Trading Discussion
rookie said: "If the DOW and NAS are going against each other, I generally do not trade.” I do not ever trade a mixed market. I do not care if every stock is down or up… I never trade a mixed market. I have lost more $'s trading a mixed market I think than there are stocks in the entire market. I love to see a GAP. I hate to see multiple GAPS within days of each other. It makesby Darcy - Trading Discussion
I agree DSA. I use the 21 chart for my trades the 55 for direction and the 5 sometimes 8 for entry. I still look at the Daily for the trend. But I am in and out almost daily with sort of market. Although I can see sometimes if I had remained in my trade I would have made more. I stopped the "buck up and out" last year. I use Gary's charts but I also use my 21 chart with only 3 diffeby Darcy - Trading Discussion
I use Qcharts. My spouse uses Strategy Desk. I use Qcharts because I have 5 years of information on them and have grown use to them. My spouse uses Strategy Desk because it is free.by Darcy - Trading Discussion
Mecave, I started taking Gary’s class in July 2004. It took me 5 years to get to the point where I would break about even….HONEST! I lost my basket twice….all of it by not following the rules. In 2009 after being sick and tired of losing my entire basket I decided each time I lost money I could not trade live again until I made 10 trades in a row correct on the virtual end. I also laidby Darcy - Trading Discussion
I did 3 trades this week. 1 loss and 2 wins. I traded CF...bought 15 June Put contracts for 1.28 and sold them clearing $1,739.23 profit. I bought 90 (yes 90) WYNN $95 PUT contracts for .23 and sold them for $715.85 profit. I bought 5 MA June 415 CALLs and lost $380.16. Total gain this week $2,074.92. I did this using the 21 chart ONLY and the 5 for enterance. Oh and I was on the road asby Darcy - Trading Discussion
Start where Gary told you to start and finish when the end of time happens. I bought my books used from Amazon and they send me recommendations for more stock books....which I buy...used. I will never sell my books...some have been a waste while others have been treasures. My favorite to understanding the market which I keep beside me ALL OF THE TIME is "The Market Maker's Edge" by Joshby Darcy - Trading Discussion
I do not touch ETF's with a 10 foot pole. But then I do not play the Q's either. Just do not like the movement for me. In fact I lost a huge chunk of change (real money) trading the Q'S. I don't like oil, energy, or retail for trading. Owning is something different. I stick with 4 or 5 stocks for trading. Right now CF is my favorite. BTW test trading a faster moving stock if you do not like sby Darcy - Trading Discussion
For May I have bought AAPL as it went down. I sold a call against it the WEEK OF expiration. I made about $6,000. I wanted to use the $600.00 strike but had to settle for the $580.00. (300 shares) So virtually I own 300 shares of AAPL at the average of $545.37658. I am still wondering how the coin of .37658 would look. I did not sit on the piano for that one. Back when I was taking Gary's class (by Darcy - Trading Discussion
Do not do real money until you have more success at play money. I do a once a month PRACTICE W/O trade.by Darcy - Trading Discussion
Rabbit, I am a 1-5 student. I repeated 1-5 four times. I have taken 1 Advanced Class but I do not do any of those trades. I had to retype Gary's manual because I actually wore the other one slam through by writing all over the thing. Whenever I listened to his CD's I would write something I heard but didn't remember. I bet on one page I had listed 100 times one instruction. Yes I had a friby Darcy - Trading Discussion