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Prof,
What's the dif between your stated strategy and buying a call for $5?
Sound to me that you could have simplified and saved some commissions.
Cheers,
Norman.
----- Original Message -----
From: "profitok" <profitok@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, November 01, 2001 7:16 PM
Subject: Re: [RT] RT:ODDBALL/using options for overnight positions
> Hello
>
> AN EXAMPLE IS WHAT JUST HAPPEN IN THE LAST 2 DAYS,, I BOUGHT 4 BIG SP
AND
> 4 BIG NASDAQ,, (WHEN SP TRADED 1055-1065)
> AND NASDAQ AT 1360-1370,,)
> AND immediately ALSO BOUGHT 4 SP NOV 1050 PUTS AND NOV 1350 PUT ON
> NASDAQ,,
> WHEN I HAD 20 POINTS PROFIT ON SP500 I SOLD BOTH THE PUTS AND FUTURES
> SAME WITH ND01Z SOLD AT 40 POINT PROFIT AND SOLD PUTS TOO
> THE LOSS ON THE PUTS WAS OVER $5000 but you can figure my net in 2 days
> and the beauty is
> when it goes against you your max loss is only 5 points per contract,,
> EVEN sleep good at night,, because you know the most you can loose is
,,,
> ----- Original Message -----
> From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, November 01, 2001 1:30 PM
> Subject: Re: [RT] RT:ODDBALL
>
>
> > Last year when Mark published his article in Active Trader I asked him
> about
> > stops, particularly the risk of overnight exposure. He acknowledged the
> > inherent risk, but he also said that was one of its strengths in that
the
> > gaps tended to benefit it more so than not. He also emphasized the
basic
> > system was an example of how simple a system could be and yet be quite
> > profitable in the long run. Yet, who in the real world can trade
without
> > stops? He also planned followup articles enhancing the system.
> >
> > Since the OddBall system samples hourly during the day session, it
leaves
> > you exposed for an entire hour at a time plus overnight. Commissions
are
> > low these days so exiting end of day and re-entering the next day is one
> > option. Another is to put on an option hedge before the close and
taking
> it
> > off the next morning, Ben or IRA could explain the details of this.
Since
> > the Oddball has time filter qualities try using a time based type of
stop.
> > Intraday try using a "multi-timeframe" type of channel. Suppose you are
> > using 3 minute bars and using Charles Johnson's array sampling
> > code(excellent stuff) then create a highest high and lowest low and
> midpoint
> > channel to protect you during that hour long exposure. Twenty bars
would
> be
> > one hour so a midpoint line based on the highest high and lowest low
might
> > be of value. I haven't backtested this with the oddball system, but
have
> > been watching it today. Problem is, the oddball system is optimized for
> > simplicity and additions to the code may detract from its performance.
> > That's the tradeoff. Another thing you might try is not taking the
first
> > 9AM ET or 8AM CT trade until another half hour has passed. The reason
is
> > the two half hour drives that occur are one source of the whipsaws.
> >
> > plot1(Highest(H,20),"H");
> > plot2(0.5*(Highest(H,20)+Lowest(L,20)),"Mid");
> > plot3(Lowest(L,20),"L");
> >
> > Use the Mid line for a stop and re-entry in the direction of the current
> > Oddball signal.
> >
> > bobr
> >
> >
> > ----- Original Message -----
> > From: "Eliot Kaplan" <eliot@xxxxxxx>
> > To: "RealTraders Mail List" <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Thursday, November 01, 2001 9:53 AM
> > Subject: Re: [RT] RT:ODDBALL
> >
> >
> > > Michael,
> > >
> > > I just started following the Oddball about a week ago, and it has had
> > > 2 great signals (20-30+ point winners), followed just the last day or
> > > so by 2 that were small losers, and today's which remains in process.
> > >
> > > It seems quite remarkable overall.
> > >
> > > I myself am wondering how to trade it using a stop. I can't trade it
> > > without one for obvious reasons, and have been considering a 10 point
> > > SP emini stop as perhaps wide enough to stay out of it's way. I'm not
> > > a backtester, so I imagine, others have tried to test this, and it
> > > would be interesting to hear BobR or others comment on the use of
> > > stops with Oddball.
> > >
> > > Essentially, does a stop ruin it? And what lengths show best results?
> > >
> > > Eliot
> > >
> > >
> > >
> > > >BobR, or anyone following oddball? wonder if it got whipsawed
> yesterday,
> > > >thought $ADV was advertising close on high.
> > > >
> > > >Pretty choppy SP. Looks like expiration. Looks like Earl nailed it,
ND
> &
> > SP
> > > >clashing.
> > > >
> > > >
> > > >
> > > >To unsubscribe from this group, send an email to:
> > > >realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > > >
> > > >
> > > >
> > > >Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
> > >
> > >
> > > --
> > > ^^^^^^^^^^^^^^^^^^^^^^^^^^^^
> > > Eliot Kaplan
> > > 20211 Croydon Lane
> > > Topanga, CA 90290
> > > Voice: 310.455.3810
> > > Fax: 310.455.3085
> > > email; eliot@xxxxxxx
> > > web: www.isu.com
> > >
> > >
> > >
> > > To unsubscribe from this group, send an email to:
> > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >
> > >
> > >
> > > Your use of Yahoo! Groups is subject to
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> > >
> > >
> >
> >
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
> To unsubscribe from this group, send an email to:
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>
>
>
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>
>
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