A Complete Swing Trading Option Strategy

How To Become The Rodney Dangerfield of Option Trading

February 16, 2010

Rodney Dangerfield is famous as the comedian who got no respect. Apparently even in real life, his fans gave him no respect. Yet he was extremely successful and lived a fruitful life.
Which is why I ask you as a trader; “Do you want respect, or do you want to make money?” Most traders I know, [...]

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Do You Make These 5 Mistakes When You Trade Options?

February 15, 2010

As the song goes “We’re only human, born to make mistakes”. True or not, mistakes can cost an option trader lots of money. And if you’re trading your own account, you feel the effects even more.
Sometimes the mistakes can be small, like typing in a wrong digit on a limit order. Other times they can [...]

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Weekly Option Review #3

February 12, 2010

So let’s start off with the option positions we’ve got on the table. As we come into the close of the trading day this Friday, February 12, 2010 here’s how things sit:
1) Our bear call spread in GS (Goldman Sachs Group) is showing a small profit of around $30. Nothing to get excited about for [...]

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Trade Alert GES

February 12, 2010

Here’s the original trade alert I sent this morning for GES (Guess? Inc) in case you missed it. After half an hour into the open we still had no fill at $1.75 so I lowered my price to $1.40 (the mid at the time) and increased my size to 4 contracts, which did get filled.
Trade [...]

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Weekly Option Tips #2

February 11, 2010

Avoid trading during the first 30 minutes when the market opens.
As a retail trader we have a lot of choices that the guys (and girls) on the floor don’t have. We get to choose what to trade and when to trade. We should use that to our advantage.
That first half hour at the open can [...]

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Option Blog Review #2

February 10, 2010

Here’s an option blog that I’d like to call to your attention. Called Options For Rookies, it is targeted at the beginning options trader, but includes advanced topics as well.
Run by veteran options trader Mark Wolfinger, it’s a blog devoted to options education. It is very much an interactive situation, with readers submitting their questions [...]

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The Trader Who Retired Early

February 8, 2010

Bora Bora, Tahiti or any other paradise.
Who doesn’t like a story about a trader who’s done phenomenally well, retiring early to some exotic location?
If you like stories like these, keep reading. Though I warn you, this early retirement is not what you expect and the location is not what many would call ideal…
The story starts [...]

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Weekly Option Review #2

February 5, 2010

What a week. We sent out a possible option trade on MUR (Murphy Oil) early Thursday 2 hours before the market opened. The market opened down quite a bit, and never looked back. As a result we never got filled at our price.
Friday morning was a little busier than normal. We put out a trade [...]

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Trade Alert GS

February 5, 2010

Here’s the original trade alert I sent this morning for GS (Goldman Sachs Group) in case you missed it. About half an hour into the open we had a pop and my order got filled at 90 cents. Most of the day the market was down until the about an hour before the end when [...]

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Weekly Option Tips #1

February 4, 2010

This week I’m starting a new theme. Every Thursday I’ll be posting a tip on option trading, hence the title Weekly Option Tips.
Weekly Option Tips #1 – Paper Trade First
I know, I know. Everyone’s always in a big rush to start making money as quickly as possible. No one ever thinks that they may lose [...]

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