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Liquidity · February 11, 2009, 12:54am

I’m boarding on insanity i bought 4,000 shares more of DRYS today at 5.36 i shoulda waited for another 20 minutes coulda got them 20 cents less than that but ill take that price anyway. you woulda thought dry bulk shippers had bad toxic assets as cargo today by their price movement.

I really like investing in dry-bulkers because even though our economy is trashed you cant stop chinas need for commodities. too bad the market sold off on them today too. thats really insane that the bdi goes up another 150 some points and the sector loses 10% roughly, it’s bs if you ask me but ill take it and load up more and see if they force me to buy more shares later on.

Liquidity · February 11, 2009, 3:34am

you jinxed the market rookie

honestly i have no idea what the hell the gov is doing anymore. its like they have ADD or something. stick to a plan, instead of coming up with different plans every week. it seems like everytime the market drops below 8000 they would announce something, this time the announced something above 8k that brought it below.

tomorrow should be interesting to say the least. i think we over did the selling today, but what the heck do i know i dont control billions in hedge fund money.

rookieNYC · February 11, 2009, 11:54am

you jinxed the market rookie

An inside day was expected after the run up we had…I bought very small and it wasnt a bad day for me as my bond funds surged on the day (but yes I did have a minor down day)…Today I will add to those positions (closed end fund) if the market drops again…The market is in a precarious position here…When you have guys like Fleckenstein turning bullish you better keep some shares long this market…Fleckenstein has been an infamous short seller for 13 years…One day doesnt make a market and opinions are like a$$holes,everyone has one…Patience here is the key and keep your positions small enough to manage the wiggles…The institutions that backed this current administration puzzle me…Why would they back an administration that is set to over regulate the markets essentially aboloshing free trade…

rookieNYC · February 12, 2009, 7:23pm

Stock Order: QQQQ-POWERSHARES QQQ TR UNIT SER 1
Status Filled at $30.0689
Symbol QQQQ
Description POWERSHARES QQQ TR UNIT SER 1
Action Buy
Quantity 8,000 Shares
Route CITADEL DERIVATIVES GROUP, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 10:58:58 AM
Cancel Date
Order Number B12NGSXB
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 10:58:58 AM $30.0689 8,000.000 $240,551.20
NET TOTAL 8,000.000 $240,551.20

Status Filled at $30.29
Symbol QQQQ
Description POWERSHARES QQQ TR UNIT SER 1
Action Sell
Quantity 8,000 Shares
Route CITADEL DERIVATIVES GROUP, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 11:44:20 AM
Cancel Date
Order Number B12NJCLK
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 11:44:21 AM $30.29 8,000.000 $242,318.64
NET TOTAL 8,000.000 $242,318.64

allagash · February 12, 2009, 7:36pm

some nimble manuevering on a vicious day like this.

Glad to see you rode that out well.

-Mike

rookieNYC · February 12, 2009, 8:15pm

some nimble manuevering on a vicious day like this.

Yes it was a hard trade to sit in while watching CNBC and hearing all the negative parts of this idiotic stimulus package…The markets deserve to go to zero with Obama at the wheel…Geithner who I thought was the right man for the job is turning out to be a disaster…Someone should have egged him when he went on TV the other day…Everyone starts out as a liberal until they start to become wealthy and pay taxes,then they become a Republican…There wont be any markets to build on after BO is finished with his one term presidency…

rookieNYC · February 12, 2009, 9:05pm

Buy 8,000 Shares of QQQQ
Order Number:B12NGSXB Details Filled at $30.0689
Buy 1,000 Shares of QQQX
Order Number:B12NHMQF Details Filled at $9.858
Buy 1,500 Shares of RTU
Order Number:B12NHNCM Details Filled at $6.1443
Buy 1,500 Shares of RIT
Order Number:B12NHNXW Details Filled at $4.7659
Buy 1,500 Shares of IGR
Order Number:B12NHPNR Details Filled at $3.7071
Buy 500 Shares of ERF
Order Number:B12NHPTC Details Filled at $18.8976
Buy 1,500 Shares of RLF
Order Number:B12NHQBK Details Filled at $3.2028
Sell 8,000 Shares of QQQQ
Order Number:B12NJCLK Details Filled at $30.29
Buy 1,003 Shares of GDV
Order Number:B12NLXZM Details Filled at $9.46
Buy 989 Shares of ESD
Order Number:B12NLZFZ Details Filled at $12.541
Buy 477 Shares of RNP
Order Number:B12NLZWF Details Filled at $5.3256
Buy 1,554 Shares of RQI
Order Number:B12NMBFF Details Filled at $3.4461
Buy 1,568 Shares of RFI
Order Number:B12NMBRJ Details Filled at $6.0552
Buy 1,524 Shares of RWF
Order Number:B12NMCBS Details Filled at $2.9392

If you didnt make money trading today hang it up boys…Today was a day to take down SIZE…You hear !!!..SIZE

Liquidity · February 12, 2009, 9:21pm

what the heck caused the 200pt rally to end the day ??? i come home from getting my daughter and getting v-day cards and see the market bounced hard.

allagash · February 12, 2009, 10:04pm

Liquidity…

At approximately 3pm…Reuters reported that Obama administration was closing in on plans on subsidizing mortgage payments.

Buy 8,000 Shares of QQQQ Order Number:B12NGSXB Details Filled at $30.0689 Buy 1,000 Shares of QQQX Order Number:B12NHMQF Details Filled at $9.858 Buy 1,500 Shares of RTU Order Number:B12NHNCM Details Filled at $6.1443 Buy 1,500 Shares of RIT Order Number:B12NHNXW Details Filled at $4.7659 Buy 1,500 Shares of IGR Order Number:B12NHPNR Details Filled at $3.7071 Buy 500 Shares of ERF Order Number:B12NHPTC Details Filled at $18.8976 Buy 1,500 Shares of RLF Order Number:B12NHQBK Details Filled at $3.2028 Sell 8,000 Shares of QQQQ Order Number:B12NJCLK Details Filled at $30.29 Buy 1,003 Shares of GDV Order Number:B12NLXZM Details Filled at $9.46 Buy 989 Shares of ESD Order Number:B12NLZFZ Details Filled at $12.541 Buy 477 Shares of RNP Order Number:B12NLZWF Details Filled at $5.3256 Buy 1,554 Shares of RQI Order Number:B12NMBFF Details Filled at $3.4461 Buy 1,568 Shares of RFI Order Number:B12NMBRJ Details Filled at $6.0552 Buy 1,524 Shares of RWF Order Number:B12NMCBS Details Filled at $2.9392
If you didnt make money trading today hang it up boys…Today was a day to take down SIZE…You hear !!!..SIZE

« Last Edit: Today at 03:07:48 PM by rookieNYC »

Rookie…

Did you close all these out?

What were your entry and exit times?

Thanks,
-Mike

rookieNYC · February 12, 2009, 10:16pm

No I didnt close out the closed end funds and SSO and DDM…Im thinking we get a massive rally tomorrow at that time I will sell into it…

Stock Order: QQQX-NASDAQ PREM INCOME & GROWTH FD INC
Status Filled at $9.858
Symbol QQQX
Description NASDAQ PREM INCOME & GROWTH FD INC
Action Buy
Quantity 1,000 Shares
Route UBS CAPITAL MARKETS L.P.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 11:21:49 AM
Cancel Date
Order Number B12NHMQF
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 11:21:49 AM $9.858 1,000.000 $9,858.00
NET TOTAL 1,000.000 $9,858.00

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Stock Order: RTU-COHEN & STEERS REIT & UTIL INCOME FD INC
Status Filled at $6.1443
Symbol RTU
Description COHEN & STEERS REIT & UTIL INCOME FD INC
Action Buy
Quantity 1,500 Shares
Route CITADEL DERIVATIVES GROUP, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 11:22:40 AM
Cancel Date
Order Number B12NHNCM
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 11:22:41 AM $6.15 200.000 $1,230.00
02/12/2009 11:22:41 AM $6.1434 1,300.000 $7,986.42
NET TOTAL 1,500.000 $9,216.42

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Stock Order: SSO-PROSHARES ULTRA S&P 500 PROSHARES
Status Filled at $21.40
Symbol SSO
Description PROSHARES ULTRA S&P 500 PROSHARES
Action Buy
Quantity 400 Shares
Route CITADEL DERIVATIVES GROUP, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 11:23:19 AM
Cancel Date
Order Number B12NHNMN
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 11:23:20 AM $21.40 400.000 $8,560.00
NET TOTAL 400.000 $8,560.00

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Stock Order: RIT-LMP REAL ESTATE INCOME FD INC COM
Status Filled at $4.7659
Symbol RIT
Description LMP REAL ESTATE INCOME FD INC COM
Action Buy
Quantity 1,500 Shares
Route CITADEL DERIVATIVES GROUP, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 11:24:05 AM
Cancel Date
Order Number B12NHNXW
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 11:24:06 AM $4.77 100.000 $477.00
02/12/2009 11:24:06 AM $4.7656 1,400.000 $6,671.84
NET TOTAL 1,500.000 $7,148.84

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Stock Order: DDM-PROSHARES ULTRA DOW 30 PROSHARES
Status Filled at $24.9877
Symbol DDM
Description PROSHARES ULTRA DOW 30 PROSHARES
Action Buy
Quantity 400 Shares
Route CITADEL DERIVATIVES GROUP, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 11:24:31 AM
Cancel Date
Order Number B12BRBNZ
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 11:24:31 AM $24.9877 400.000 $9,995.08
NET TOTAL 400.000 $9,995.08

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Stock Order: IGR-ING CLARION GLOBAL REAL ESTATE INCOME FD COM
Status Filled at $3.7071
Symbol IGR
Description ING CLARION GLOBAL REAL ESTATE INCOME FD COM
Action Buy
Quantity 1,500 Shares
Route AUTOMATED TRADING DESK FINANCIAL SERVICE
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 11:25:11 AM
Cancel Date
Order Number B12NHPNR
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 11:25:11 AM $3.71 100.000 $371.00
02/12/2009 11:25:11 AM $3.71 100.000 $371.00
02/12/2009 11:25:11 AM $3.71 500.000 $1,855.00
02/12/2009 11:25:11 AM $3.7046 800.000 $2,963.68
NET TOTAL 1,500.000 $5,560.68

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Stock Order: ERF-ENERPLUS RES FD TR UNIT SER G NEW ISIN #CA29274D6046 SEDOL #2603515
Status Filled at $18.8976
Symbol ERF
Description ENERPLUS RES FD TR UNIT SER G NEW ISIN #CA29274D6046 SEDOL #2603515
Action Buy
Quantity 500 Shares
Route KNIGHT CAPITAL MARKETS, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 11:25:35 AM
Cancel Date
Order Number B12NHPTC
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 11:25:35 AM $18.8976 500.000 $9,448.80
NET TOTAL 500.000 $9,448.80

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Stock Order: RLF-COHEN & STEERS ADVANTAGE INCOME RLTY FD INC
Status Filled at $3.2028
Symbol RLF
Description COHEN & STEERS ADVANTAGE INCOME RLTY FD INC
Action Buy
Quantity 1,500 Shares
Route AUTOMATED TRADING DESK FINANCIAL SERVICE
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 11:26:08 AM
Cancel Date
Order Number B12NHQBK
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 11:26:08 AM $3.2028 1,500.000 $4,804.20
NET TOTAL 1,500.000 $4,804.20

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Stock Order: QQQQ-POWERSHARES QQQ TR UNIT SER 1
Status Filled at $30.29
Symbol QQQQ
Description POWERSHARES QQQ TR UNIT SER 1
Action Sell
Quantity 8,000 Shares
Route CITADEL DERIVATIVES GROUP, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 11:44:20 AM
Cancel Date
Order Number B12NJCLK
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 11:44:21 AM $30.29 8,000.000 $242,318.64
NET TOTAL 8,000.000 $242,318.64

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Stock Order: EFA-ISHARES TR MSCI EAFE INDEX FD
Status Filled at $38.52
Symbol EFA
Description ISHARES TR MSCI EAFE INDEX FD
Action Sell
Quantity 199 Shares
Route KNIGHT CAPITAL MARKETS, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 12:54:31 PM
Cancel Date
Order Number B12NKRRD
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 12:54:31 PM $38.52 199.000 $7,665.43
NET TOTAL 199.000 $7,665.43

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Stock Order: GDV-GABELLI DIVID & INCOME TR
Status Filled at $9.46
Symbol GDV
Description GABELLI DIVID & INCOME TR
Action Buy
Quantity 1,003 Shares
Route CITADEL DERIVATIVES GROUP, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 01:56:15 PM
Cancel Date
Order Number B12NLXZM
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 01:56:20 PM $9.46 1,003.000 $9,488.38
NET TOTAL 1,003.000 $9,488.38

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Stock Order: ESD-WESTERN ASSET EMERGING MKTS DEBT FD INC COM
Status Filled at $12.541
Symbol ESD
Description WESTERN ASSET EMERGING MKTS DEBT FD INC COM
Action Buy
Quantity 989 Shares
Route AUTOMATED TRADING DESK FINANCIAL SERVICE
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 01:56:52 PM
Cancel Date
Order Number B12NLZFZ
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 01:56:52 PM $12.541 989.000 $12,403.05
NET TOTAL 989.000 $12,403.05

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Stock Order: RFI-COHEN & STEERS TOTALRETURN RLTY FD INC
Status Filled at $6.00
Symbol RFI
Description COHEN & STEERS TOTALRETURN RLTY FD INC
Action Sell
Quantity 789 Shares
Route KNIGHT CAPITAL MARKETS, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 01:57:34 PM
Cancel Date
Order Number B12NLZNJ
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 01:57:34 PM $6.00 789.000 $4,733.97
NET TOTAL 789.000 $4,733.97

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Stock Order: RNP-COHEN & STEERS REIT & PFD INCOME FD INC
Status Filled at $5.3256
Symbol RNP
Description COHEN & STEERS REIT & PFD INCOME FD INC
Action Buy
Quantity 477 Shares
Route AUTOMATED TRADING DESK FINANCIAL SERVICE
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 01:58:26 PM
Cancel Date
Order Number B12NLZWF
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 01:58:26 PM $5.3256 477.000 $2,540.31
NET TOTAL 477.000 $2,540.31

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Stock Order: RQI-COHEN & STEERS QUALITY INCOME RLTY FD INC
Status Filled at $3.4461
Symbol RQI
Description COHEN & STEERS QUALITY INCOME RLTY FD INC
Action Buy
Quantity 1,554 Shares
Route KNIGHT CAPITAL MARKETS, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 01:59:07 PM
Cancel Date
Order Number B12NMBFF
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 01:59:08 PM $3.45 200.000 $690.00
02/12/2009 01:59:08 PM $3.44 200.000 $688.00
02/12/2009 01:59:08 PM $3.445 100.000 $344.50
02/12/2009 01:59:08 PM $3.445 100.000 $344.50
02/12/2009 01:59:08 PM $3.4499 100.000 $344.99
02/12/2009 01:59:08 PM $3.4499 100.000 $344.99
02/12/2009 01:59:08 PM $3.445 200.000 $689.00
02/12/2009 01:59:08 PM $3.4498 100.000 $344.98
02/12/2009 01:59:08 PM $3.44 200.000 $688.00
02/12/2009 01:59:08 PM $3.4499 100.000 $344.99
02/12/2009 01:59:08 PM $3.4499 100.000 $344.99
02/12/2009 01:59:08 PM $3.45 54.000 $186.30
NET TOTAL 1,554.000 $5,355.24

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Stock Order: RFI-COHEN & STEERS TOTALRETURN RLTY FD INC
Status Filled at $6.0552
Symbol RFI
Description COHEN & STEERS TOTALRETURN RLTY FD INC
Action Buy
Quantity 1,568 Shares
Route KNIGHT CAPITAL MARKETS, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 02:00:23 PM
Cancel Date
Order Number B12NMBRJ
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 02:00:23 PM $6.0552 1,568.000 $9,494.55
NET TOTAL 1,568.000 $9,494.55

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Stock Order: RWF-COHEN & STEERS WORLDWIDE RLTY INCOME FD INC
Status Filled at $2.9392
Symbol RWF
Description COHEN & STEERS WORLDWIDE RLTY INCOME FD INC
Action Buy
Quantity 1,524 Shares
Route KNIGHT CAPITAL MARKETS, L.L.C.
Order Type Market
Time in Force Day
Conditions None
Trade Type Margin
Market Session Standard
Order Date 02/12/2009, 02:01:16 PM
Cancel Date
Order Number B12NMCBS
EXECUTIONS FOR THIS TRADE
Date Time Price Quantity Total
02/12/2009 02:01:17 PM $2.9392 1,524.000 $4,479.34
NET TOTAL 1,524.000 $4,479.34

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This has been a traders market…I have gone to great lengths to show my honest entries and exits…I have not seen anyone post the way I do when it comes to trades executed…There should be no question as to when I make or lose money…Anyone can match up my buys/sells with TOS data…I keep it honest and for those that call this speculation I will say this…I love it !!!..I made more money in 2009 than 3 years worth of rental properties…3 years…And I have a decent amount of units…Which I am selling ALL OF and holding the mortgages on the entire portfolio at %11 with %20 down…I hate real estate,it truly is uncompareable to trading or the markets…I will make more money on the mortgages…Property managers ruined the business for me.

allagash · February 12, 2009, 10:33pm

what about GLL?

:cool

Best of luck in the morning.

-Mike

rookieNYC · February 12, 2009, 10:38pm

what about GLL?

What about it?..I have never traded it nor do I follow it…

I may even keep these closed end funds for income…I dont know…If we have a serious gap open and I see I’m up size I will likely sell…If we dont and I see we have a trend day I will hold…

REI_Chris · February 13, 2009, 12:58am

Rookie,
How do you like TOS? I’ve been thinking of heading over to TOS for a bit now.

On a side note, I still have those GS puts and some BAC puts, both of which are down now on this EOD BS rally. I checked my phone at 3 while I was at college, played basketball for a bit and checked again at closing bell and all hell broke loose. Just goes to show how volatile and extremely absurd this present market is. It was my fault because first of all, I should have locked those GS puts up on Tuesday (hindsight, I know) and I should have had some trailing stops set up today while I was out. When I checked my phone, they were doing well at 3 with GS around the daily lows, and then the herd started to run, and they ran FAST. I love spending money to actually learn something; i have countless credits at college in which I cannot remember my professors names/ context of the course that I’ve spent much more money on!

Things that I learned from this week:
Setup trailing stops
Lock in profits or take some profit off of the table to preserve capital
Sell those extreme moves in stocks when holding options due to the added vega/delta/gamma increase on such extreme moves in shortened periods of time (hence why my GS puts were up 70% at one point and are now down ~40%)

All in all, I love it. I guess you’d have to to keep coming back in a market like this…

rookieNYC · February 13, 2009, 1:18am

Chris,
I would tell you to pair out of positions but you trade too small to pair out…Word to the wise,you never go broke taking profits…TOS means Time of sales…Its like a quote box that shows every trade on the particular stock/etf etc and the time…

You seem to be doing well all I can tell you is dont get too opinionated on the market…Options are tough when the market revereses course and RIPS…The options get trampled over by traders to get in or out…This is why I dont like to trade them.But you are starting out and doing well from what I can tell…Keep it small but more importantly concentrate on school and living your life…the market can consume alot of your life and you are young,enjoy it…Man does that sound like I’m old?.Seriously…Don’t let the market rule your every thought…Make some money and move on…

allagash · February 13, 2009, 1:41am

You seem to be doing well all I can tell you is dont get too opinionated on the market

Now there’s some good advice.

I could never do options.

Working from some centerline point…all I care about is 1 to 5% in either direction…doesn’t matter whether it’s long or short…preferably accomplished in under 15 minutes.

Obviously an oversimplification…but you get my point.

-Mike

REI_Chris · February 13, 2009, 1:46am

Thanks Rookie! Not only am I immersed in the market from the time it opens, to watching futures at night change/ researching what happened and why it happened during the day and how I am going to play the next day, I am also a full time Finance student. So, I couldn’t escape the world of Finance even if I wanted to right now! Do I really want to become a broker/ analyst someday?!? :banghead:

On a side note, I’m slowly, yet painfully and stubbornly learning to take profits off of the table with options. I basically started out trading options and nothing else. I’ve had 100+% trades, but I’ve also had 100%+ losses from simple mistakes that I have learned from. I’m trying to make profit right now, but my main priority is to learn as much as I can so when I do invest real money, I don’t make the same mistakes I did when I first started out. Thanks for the encouragement Rookie. BTW, what is it you do for a living? I know you’re in the world of Finance, but never read what it is you did. Maybe you can give me a job someday, saving me from going to Dubai or Shanghai! :biggrin

REI_Chris · February 13, 2009, 1:53am

Options definitely shave a couple years off of your life while you watch them swing 20-30% OTM in under an hour, and right back up to 50% on the day. I find them fascinating, not only for the profit potential, but the complexity of them. There are so many attributes that determine the price of an option. I’m just using basic calls and puts for trading, not hedging my risk at all with complex spreads, which is one reason why they’re such a wild ride. I could simply hedge my risk, also possibly capping my reward but still plenty profitable, but I haven’t gotten that advanced just yet. I understand how to do most strategies, but just haven’t implemented them yet. I’ll more than likely begin doing so here soon when I start trading with more money. I wouldn’t buy just calls or puts without a hedge with a lot of money; there is just too much risk and very difficult to make money in such a volatile market meaning that a ‘normal’ swing one way could stop you out if you were trying to cap loss in that manner, while you watch that option immediately reverse course to go into the green big. Much more complex than shorting/ buying stocks, and that’s why I love it.

allagash · February 13, 2009, 2:16am

Chris…

I wish you all the best.

For me…I go back to the age old adage…KISS…Keep It Simple, Stupid.

Don’t get greedy…Take profits early. Compound them.

-Mike

Liquidity · February 13, 2009, 6:57pm

added another 1k shares of DRYS at 4.79

Liquidity · February 17, 2009, 8:36pm

another 1k at $4 of drys.

this is an easy triple from here. If it dips more im gonna throw some larger orders in.