Dear “Anonymous”
Yes, you. The guy who thought’s it was appropriate to email me and complain mid-day while I am dodging landmines in a Dow that is now 200 points cheaper than it was yesterday. Yes, you. You picked the wrong day and the wrong tone.
Don’t be the guy that calls into customer service claiming that his butt plug doesn’t fit. You aren’t getting a refund.
If you are in longs that are not working out for you, remember that losses are a potential outcome. Either let a trade work or have an exit plan. Don’t attack me wondering what you should do now. Read up, son.
Now granted, have each of my trades been profitable in this environment? No, of course not. But I think it is important for you to realize that the majority have been. More importantly I’ve produced far more profits than losses since starting here. If the only two trades you picked didn’t pan out, your picking might be flawed, or you need to revisit your own preferential biases that attracted you to losses. Or simply “unfollow me,” for you might not belong.
I am trying to share my thought processes, experience (both good and bad), and ideas with you here. That said, I am here to help. Ask my opinion. Ask for suggestions. Do not however, pick one trade and then blast me if it turns into a loss. I didn’t click the “submit” button in your account. You did. Therefore, use a reasonable amount of money. Have an exit plan. Know what you are trading.
For those of you that read, I write to teach. I like to help. Take this as an opportunity to leave a comment and ask about my trading style. Ask about a trade. Ask me anything. I think this would be a more appropriate approach than sending some bullshit email.
As for “anonymous,” I offer this for help with your trade loss…
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It hit almost your downside target today. Also I saw you sold TZA. Now, what do you think from here?
Did you pick up any TNA? Thanks OA.
Bob,
No TNA, but I did take a few fresh longs into weakness today.
At this point, not thinking much beyond a mutli-day mean reversion.
hey OA,
been following your trades since you started on this site. you definitely have more wins then losses =D. i’ve followed some of your trades and have profited handsomely. obviously it’s impossible to win 100% of the time. but i’ll take my chances with OA’s calls. in any case do your own DD before proceeding. That being said, i’m in AAPL / AMZN / NFLX / GMCR / UA with you buddy! i also have some puts in CMI / BBY / HPQ / XLU / XLP as hedges. What’s your game plan on the weekly AAPL/AMZN/NFLX? Thanks OA.
My plan is to average them tomorrow morning. If you look at the 10 day chart of each of these stocks against the SPY, there is some relative strength in these names.
Thanks for asking.
Here is the net result of the Trade Alerts I sent out today:
COOL – Sell Long Stock @ $0.59 (-.09)
ZNGA – Sell Long Stock @ $2.96 (-.34)
GRPN – Sell Long Stock @ $6.82 (+.39)
__________________________
SODA – Sell Jun Calls @ $4.00 (+2.70)
AMZN – Sell Wkly Calls @ $3.10 (+2.29)
NFLX – Sell Wkly Calls @ $2.50 (+0.65)
MNST – Sell Jun Calls @ $1.30 (+0.25)
TZA – Sell Jun Calls @ $1.77 (+0.81)
Are these alerts from your service? Second, how are they sent? (via email, etc.?)
Yes. Email, text, private twitter feed. All at the point of fill.
Thanks for the reply. I will look at your service this weekend with the intent on joining. From what I’ve seen just on this site, you have been killing it. Keep it up!
Got back into AMZN and NFLX while taking positions in GMCR and UA.
Do you still like AMZN weeklys here?
Very much so. Easy to manage. Great trade location.
Do you most often find yourself trading the nearest dated options?
I ask because my average equity trade lasts 2 -12 days and I’m never sure when there’s too much premium baked into these things.
Yes, weekly or front month.
We share similar time horizons.
The birth of the weekly was a game changer in that now I don’t have to buy a bunch of time I have no intention of using. I like less time and good gamma.
Hey OA,
What’s your thoughts on straddle plays? Ever use them going into earnings, or jobs numbers?
Very low probability trade. If you want to trade them, buying them early on is key.
great to meet you on weekend oa….you are a stud…..don’t let the haters get to you.
Bro, great to meet you. Was hoping to chat a little more.
Keep in touch.
Indeed… OA don’t let the “haters” get to you. We are (or should be) big boys and girls here.
Been following you for years. Once took a trip down to Mexico on profits from one trade.
Really happy when I saw you were here.
Happy to have you, Old Sport.
Let’s plan another trip to Mexico.
I just ban folks around here OA.
I am proud to say, we’ve banned over 2,500 readers to date, a feat unmatched by anyone on the internets.
Noted.
2,500 readers. Not bad.
Hello. I’ve enjoyed your blog. Can you suggest an internet resource/book to learn the basics of options trading from?
Email me, my pleasure.
[email protected]
SODA hello……woww
No offense to the other fantastic writers on this site, but your addition is the best thing that has happened to iBC.
Can somewhat understand “anonymous” dismay .
I’ve been at this for probably two decades longer than anyone here .
This is not for everyone and if two losers bother an individual then they should not be involved .
I have a list of rules that I really try to stay with and I still screw up . I hate giving advice so consider this a suggestion to all who are in the earlier stage of their career…..
try to never let a play expire worthless . This really adds up over a peiod of time .
Never let a play expire worthless….unless you position size for it.
SODA for the win ..big time,,thank you Jeff nice
Well done, good friend.