Great post! I enjoyed reading it

Did you have trouble getting out due to the spread? Every time I looked at BTUUQ it was over 10% of the share price, ie 11.50 x 9.25

@Zenyatta the spread wasn't the main issue. I just did not put any order in BTUUQ because I kept hoping it would come back up. I guess this "hope" was so strong due to my terrible DRWI trade where it actually did come back up

Ok, gotcha, thanks. I'm still not sure if my platform was messed up because I could see orders going through tighter than the spread was

Good lessons to learn here. I lost on DRWI on my paper trading account, got in at 4.31, but I stuck to my plan and sold at 4.19 (missed 4.20). I agree about avoiding overtrading and going back to being a sniper as I need to do the same! Good luck man

At this point I must have a couple hundred books on trading. I've even read about lunar cycles and planetary alignments with the market. Here's a starter tho https://brassmaggie.com/2016/08/11/12-dozen-books-obscurities-oddities-and-new-fangled-dangles/

Just gotta keep watching and be patience for the short.

I may write a 35 naked call Monday depending on what the premium is

Opened 1 35 call 10/21 expiry for .45 after comission...

It might turn out well, I don't do a lot with options

That was the most Amazing thing i've seen

and then you make sure your profit target or reward is at least 2 x your risk, so in the eg i gave above , 10c gain and 30c gain respectively

Don't worry too much about the % gain. As long as your dollar loss and dollar profit is consistent and you're making at least 2 x your loss you'll always be in the positive.

Thanks again for your help! I tend to overanalyze. XD.

Yeah I used to do that as well, calculate the gain and loss as a percentage. Just keep the loss and profit dollar amounts constant and its all good. But like the other guy said it's easier said than done. Just need to find key price levels on the chart and estimate

Look at my blogs with charts and tickers and go back to that date and time which you'll be able to see on the chart

FYI all the charts are the movers of the day but I have entry points on there so you can where to enter. I have charts going back two months

I have a lot of scanning info in my blog, specifically using the TOS scanner. Check some of Tim's previous watchlists also and you'll find plenty of former runner their also.

This is great everyone! Thanks for all the quick responses! I'm working on polishing my trading know how and trade within 3-6 months! Thanks again!

yes, but I don't think you can use it outside the US, my apologies

Ok, no problem. Thanks anyway

Ok, i have to say i entered the trade around 3:30pm so it was before the market close.

if you are using levarage you have to close the trade before 3.30 or you are going to be charge 55 fees.. is crazy. you dont have to trade everday, wait for the best plays come to you.

Ok thank you for letting me know. So you are using Suretarder aswell?

Tim told me not use suretrader because of their hidden fees. Be careful guys especially with a small account

That said, often I'll cut winners short from being scared they are going to run back to against my position, classic disposition effect...

@bslick just make sure your trading small. And if your having a bad loosing streak just take some time off. Take your time with this.

@Zenyatta I have seen my share of people blowing up their accounts as well. Its tragic but for some thats the only way they will learn..

@bslick That's good advice from Jason imo. I also take time off after long winning streaks. It's a marathon, no Usain Bolt distance here...