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Hello Stan,
Actually two weeks ago I was so tired that I personally felt that I should
step aside for a few days and then go at it again. But I fell that I also
needed to push myself as well. Datek doesn't have options so I have been ham
stringed a little. However if Datek doesn't add options by sometime in 1999,
I'll open another account someplace else to trade options through them. I
don't know the terminology - spread? - but to me going with a slightly out of
the money put and a slightly out of the money call both about 6 to 9 months
out would work well especially around earning season and when there is some
concern about a companies earnings and when you know the stock is a good
mover. Like IBM or DELL earlier this year for example.
I think for me the most difficult journey in trading has been the personal
journey, while the math or T.A. has been the easier part. Being reflective of
my experiences in some of my posts helps me be honest with myself. This list
is one of the few places I can communicate my trading activities and not get a
blank stare. As I am sure that many have been in this boat as well. However, I
also know me and that if something effects my trading too much I tend not want
to deal with it right away. I'll put it off and deal with it at a later date.
I am not quite sure if that is a good thing to do or not when it comes to
trading.
Harley
Stan Rubenstein wrote:
> Harley, my compliments for your candidness on reporting
> your trading activities. I've been there, done those, and still
> get surprised by the market in the short term.
> Being fast to get out, taking small losses and small profits,
> is the mark of a trader preserving his capital.
> Recent experience in the market and selected readings in
> the business press allude to another dimension to volatility,
> - velocity of change. It seems that the market is quicker to
> jump down or up more than usual. Analagous to a voltage
> meter trying to keep up with 120 cycles/sec instead of the usual
> 60 cycles/sec.
> Have you thought of giving yourself a rest and betting on both
> sides of a trade? In options we call it a straddle; same strike
> price and expiration date for both a put and a call. Then if the
> market lurches in one direction (up) or the other you may
> make a profit. And if the market lurches more quickly, in
> both directions, you might make more.
> Not so easy to execute as it sounds, though.
> Regards,
> Stan Rubenstein
>
> ----------
> > From: Harley Meyer <meyer@xxxxxxxxxxx>
> > To: Metastock list <metastock-list@xxxxxxxxxxxxx>
> > Cc: Alan Kwong <alankwong@xxxxxxxx>; Joe Frabosilio <joe6964@xxxxxxxx>
> > Subject: NWAC, MU & AMAT
> > Date: Friday, September 25, 1998 4:06 PM
> >
> > NWAC - I covered all 150 shares for a small gain of $123. I also covered
> > it because I needed to raise some cash for the draw down I am suffering.
> >
> > MU - Was up almost 3 points today but as I type with 5 minutes before
> > the market close the DJIA has some body running out the door. Which has
> > brought MU down to 2 1/4 points up. Some consolation.
> >
> > AMAT - I took another position of 100 shares short at 26 1/8. Currently
> > it is up 1 1/4 at 26 3/4. This extra position brought my account down
> > too low. So that is why I took the small profit on NWAC. I suspect that
> > I would see 26 1/8 by next week. So I figured I would take the profits
> > instead of the loss. Draw down I can live with. As long as they are not
> > too bad.
> >
> > All and all my timing this week was poor, in fact way off. But at least
> > this week I am not as tired as I was the week before.
> >
> > Harley
> >
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