Btw 3065 profit stop on that 3075 sell on the ES, see what happens after the open!
AAII Buy. II Sell.
Posted 26 June 2020 - 08:33 AM
Actually surprised were down here at the open $9 billion POMO from the Fed thought we'd be up, day is young lol!!
Posted 26 June 2020 - 09:07 AM
My system has made money since 1962, and made me a financially independent at age 57.
It is very simple.
Buy low, sit on it for 3-5 years.
Sell when 30%+ profit occurs.
Very simple system.
Gave me lots of time to play golf at a nice private country club instead of wasting time sitting in front of a computer all day.
Now I am 80, and my kids are going to be very rich when I kick the bucket.
That is a solid approach. I've been thinking about doing something similar. Sure beats watching the screen. How do you define low? Do you avg in after a certain threshold is met?
Posted 26 June 2020 - 09:23 AM
Hmmmm interesting I usually keep the stops tighter but for now 3050!
Posted 26 June 2020 - 09:41 AM
Wow didn't think feel good friday would be this hard down but you never so a 3025 profit stop!
Posted 26 June 2020 - 10:09 AM
And out but 50 points was pretty good, see what happens later today, likely start building a new short!!
Posted 26 June 2020 - 11:22 AM
Nope never buy options only sell them, premium decay is always the best way to make an income at this job! Very boring at times but it works. Up to you how much risk you take. For example, 3450 calls sold originally for $5.75, now $1.00, likely take them off soon, 2750 puts, average in $22, now $16 with stops to protect that profit, may even just take them off today. Heavier on selling calls right now with where the market is though as calls are way tooooo bullish right now which to me is real sentiment, people are really putting their money where there mouth is however you have those pesky 5 Fanmg stocks and POMO holding everything up lol!!! Just let the stupid thing correct and be natural so we can keep a normal bull market go lol!!
So you are selling only the front month or more time?