|
PureBytes Links
Trading Reference Links
|
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML>
<BODY BGCOLOR="#FFFFFF">
who is the best broker for fast daytrade S&P 500 futures trades?
<BR>Lind Waldock, Jack Carl, LFG, Zap?
<P>Do the electronic execution systems get you fills as fast as the electronic
stock execution systems do?
<P>Can anyone give an approximate time difference in fill time in just
calling in your
<BR>brokerage firm and ordering versus the existing electronic systems<BR>
<BR>
<BR>Jay Greenlees
<P>Bob Heisler wrote:
<BLOCKQUOTE TYPE=CITE> <FONT COLOR="#000000"><FONT SIZE=-1>I would
submit that you are not "stupidly" short AXP. The mistake was letting
the position get out of hand. AXP is currently at around 82 meaning
you are currently down 8 points and change. That seems like an excessive
stop or "room to move" for any method or style.</FONT></FONT> <FONT SIZE=-1>The
number one rule of trading is preservation of capital and proper risk management.
I don't believe there are any "stupid" trades. There are certainly
trades that do not go the way we think. When that happens we need
to forget our egos and close the trade when our stops get hit. To
stay in a trade "hoping" it will eventually go our way, or to prove that
we were "right" is suicidal. There are so many trading opportunities
each day there is no reason to lose a significant amount on any one trade.</FONT> <FONT SIZE=-1>I
know this doesn't help your existing position as only you can make the
decision on whether to stay or exit, but maybe it will help with future
trades.</FONT> <FONT SIZE=-1>Trade well.</FONT>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px"><B><FONT FACE="Arial"><FONT SIZE=-1>-----Original
Message-----</FONT></FONT></B>
<BR><FONT FACE="Arial"><FONT SIZE=-1><B>From: </B>Ketayun <ketayun@xxxxxxxxxxx></FONT></FONT>
<BR><FONT FACE="Arial"><FONT SIZE=-1><B>To: </B>RealTraders Discussion
Group <realtraders@xxxxxxxxxxxxxx></FONT></FONT>
<BR><FONT FACE="Arial"><FONT SIZE=-1><B>Date: </B>Wednesday, October 14,
1998 10:03 AM</FONT></FONT>
<BR><FONT FACE="Arial"><FONT SIZE=-1><B>Subject: </B>any thoughts?</FONT></FONT>
<BR> I am stupidly short AXP at 73 3/4, any thoughts if I should abort
and at what price?
<P>TIA
<P>Ketayun</BLOCKQUOTE>
</BLOCKQUOTE>
</BODY>
</HTML>
</x-html>From ???@??? Sat Oct 24 07:19:04 1998
Received: from list.listserver.com (198.68.191.15)
by mail05.rapidsite.net (RS ver 0.3) with SMTP id 6311
for <neal@xxxxxxxxxxxxx>; Sat, 24 Oct 1998 00:30:48 -0400 (EDT)
Received: from localhost (localhost [127.0.0.1])
by accessone.com (8.8.5/8.8.5/PIH) with SMTP id VAA23091;
Fri, 23 Oct 1998 21:30:28 -0700 (PDT)
Received: from mailhost.ap.net (mailhost.ap.net [205.134.237.20])
by accessone.com (8.8.5/8.8.5/PIH) with ESMTP id VAA22721
for <realtraders@xxxxxxxxxxxxxx>; Fri, 23 Oct 1998 21:28:08 -0700 (PDT)
Received: from ap.net (D-15.Portal-02.ap.net [207.44.186.48])
by mailhost.ap.net (8.9.1/8.9.1) with ESMTP id VAA10191;
Fri, 23 Oct 1998 21:27:08 -0700 (PDT)
Message-Id: <363156F4.5365D139@xxxxxx>
Date: Fri, 23 Oct 1998 21:26:29 -0700
Reply-To: ist@xxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: Ira <ist@xxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Condor Trading Strategy
References: <01bdfea9$59024110$65ea93d0@xxxxxxxxxxxxx> <363118C5.48751C33@xxxxxx> <363151A4.6A287363@xxxxxxxxxxxxxxx>
MIME-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-To: nwinski@xxxxxxxxxxxxxxx
X-Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
X-Mailer: Mozilla 4.05 [en] (Win95; I)
X-Listprocessor-Version: 8.1 -- ListProcessor(tm) by CREN
X-Loop-Detect: 1
X-UIDL: ca8efef76c2696f2d9041940e50fc241
I realize that, It can also be diagonal. It all gets a little tricky for
someone just getting into what the spread is. Time and diagonal spreads don't
really work to well in many instances when different months are for different
crops and in times of large interest rate moves. It is also very difficult to
trade the further out months in commodities. In stocks these different
expiration spreads work a lot better. you can work three or four different
expirations trading overvalued and undervalued. I did this all the time when I
was on the floor, but the commission structure out here makes it prohibitive.
Good trading, Ira
nwinski wrote:
> Ira wrote:
>
> > I have used this strategy for years and it works just fine in certain
> > situations. A condor is an options spread covering 4 strikes. Long the
> > outside and short the two middle strikes. The total risk is the premium
> > paid for the spread. When entering the spread tell the broker or the
> > desk what you want to do and give them the debit amount. Some times
> > they come back and say the prices are xxxx, your reply is I don't care
> > what the prices are, all that matters is that the debit is YYYY or less.
> > The condor extends your profit range by 5 points over a butterfly and
> > provides numerous trading opportunities. It also allows you to trade the
> > short contracts and keep your risk minimal. If you use January beans as
> > an example. S9F. If you feel that this contract will remain between 525
> > and 600 then you would put on the 525, 550, 575, 600 condor. Based upon
> > tonight's closes, the 525 = 37.5, the 550 = 20.25, the 575 = 9.5 and 600
> > = 4.25. the future closed at 559.25. The condor costs
> > (37.5+4.25)-(20.25+9.5)=12. Maximum value of 25 occurs between 550 and
> > 575. The current intrinsic value of the condor is 9.25 so the premium
> > paid is 2.5. Like a good game of chess or Shoji there are hundreds of
> > manipulations you can make from this starting combination to take
> > advantage of rising and falling markets and end up at days end with the
> > same position. The one thing to remember is that the spread between the
> > strikes should be uniform. I hope that this helps. Ira
>
> Ira,
> A Condor does not have to be a vertical price spread. Just as a
> Butterfly can be a time spread, so can a Condor be spread using the same
> strike and different months.
>
> Cheers,
>
> Norman
>
> >
> >
> > Steve Carton wrote:
> >
> > > Has anyone traded an option strategy called a Condor?
> > >
> > > Is it a profitable strategy? What are the downside risks?
> > >
> > > Thanks in advance.
> > >
> > > Steve
|