DAN, not sure what you mean about the APA not filling. My APA 115, 110 spread filled at a limit of 2.00, in the morning of the day after you issued the trade. For those of us that had the order fill, what do we do now? Does the trade still look good to hold through expiration? Thank you!
Not Dan, but the original trade was a day limit order that cancels at the end of the first day. If you got filled the next day, then I would assume you are on your own.
The trade was announced in the evening. My trade filled the next day, the morning of 1/31/2011. That was the first trading day after the trade was announced.
DAN – Ditto on getting filled on the APA Bull Put Spread. I used the 110/105 and was filled at $1.10. So please continue coverage since it seems several of us are in this trade.
Dan, Thanks for the updates. When I started trading, I started with spread trades not stocks. After about a year trading of only spreads, I decided to try swing trades. I am so glad that I could be a part of your beta tester group and I can get back into the spreads. I am totally facinated with the long calls, which I’ve never traded before. I will not limit to only one kind of a trade again. I am looking at diversification, not only by trading different industry groups but also different trading strategies.
Dan- thanks for the update. When you look up hyperactive options trader in the dictionary you will see a picture of me.
Fear and lack of patience I think are the reasons I’ve not been profitable on what should have been perfectly good trades. Thanks for hammering the hard truth. I need to hear it…..
I understood 1-2 ideas per week when I signed up, and that’s what we’re getting. I’d hate to see Dan press and give ideas that aren’t up to snuff simply to meet some silly quota.
Dan,
Keep up with the quality and NOT quantity. We will all be happy with light trading activity as long as they are good
trades. Take your time and go with the high probabilty trades. Great job, keep it up.
Dan: DIS will report earning next Tuesday. I understand that the initial trade was to hold it through earning. But now I see 5% short interest radio on the stock. Not sure if it is too high. I’m wondering if we should take some profit before the earning. Or should we rise the stop to protect our profit?
All this has been good experience. Have enjoyed the forum and have learned much. What I would like to learn is how to set my own stops by calculating them based on stock pricing… Can you give some guidance on this?
I have been waiting for some suggestions on the stops. Dan said he keeps his stops at 25%. I set that on Disney and got stopped out before the move up. Some discussion on stops would be appreciated.
I understand some frustration about the quantity of trades. That said, the goals are education on high probability trades. From there profits to varying degrees and manageable losses should the trades go against us.
Consider this please if you are frustrated. For me it is clear. I Beta tested to learn some things I didn’t already either know or feel comfortable with. Dan and Gary have every intention of this being a positive experience for all of us.
Mike, says…I’m pleased. I find the questions most amusing! You are teaching some real rookies. I am impressed you took on this task. You are like a life line to some of these folks. They hang on every word you speak.
I would hope that the real Newbies are useing a Sim. acct. to learn these trades. I, myself enjoy tweaking the trades a bit and or taking them as is. In the equtiy side of trading I mostly trade options. I never would have thought about CRUS, and I made more than 100% on that. Thank you very much Dan for that “idea”.
. I just want to say this…Dan, the SMM and the OMM are the BEST trading rooms I have ever been in. I have been in rooms for about 7 years. Some of the traders in the SMM room that are seasoned with screen time are so savvy and “there” in the mind-set of trading.
Ideas… are what I’m looking for. I also like your teaching and your “look” at the markets., you have at least for me…a very calming affect. Of course this calming affect is critical mentally. I can not trade if my mind gets in the way. I suppose I could type forever, but I won’t.
Thanks again for your time Dan.
Peace..out
Mike
Ed, it’s likely that you had an Internet connection problem. Reload the Internet page, then the video will reload. Wait a minute after you first click on the video for it to finish loading, before moving the playback indicator to the point where your watching of the video previously stopped, and continue watching from there.
As a seasoned stock trader, I never had the time or motivation to understand how to effectively use options. Despite the advantages, the initiation was too intimidating. You have quickly changed my perspective, and I now I can’t believe how much I was missing out on! I’ve already placed several successful trades modeled on the strategies already presented. Looking forward to the continued education, but I wanted to express my sincere gratitude for your mentorship.
Ready to drop my Fidelity account. With your inside perspective into the business, I know you like the Najarians, but what is your take on Interactive Brokers? The margin rates and options trading platform are alluring. Margin rates seem to be an advantage over the monster, but what about the fills?
DAN- as mentioned earlier by Jenny, can you comment on how you will manage risk of DIS long call through earnings? If price moves down slowly, your stop loss should be fine. However, how do you protect if gap down should occur? Do you close the long call before earnings or do you buy a long put and make trade into straddle/strangle? If possible, please advise before Tues close and DIS reports earnings. Thanks!
Dan, in previous trades you sent the stops updates or trade parameters in text format, could you post them here?
I’m out of home and I can’t see them on my black berry, I know I should have an iphone, but that is another story.
There were no changes in stops, prices, or anything else. The update was just a courtesy to those who need more refreshing/education on options. If there are any changes to stops, etc., I will certainly include them in the text.
Dan, this is great – I am really learning as a newbie. I would like to understand your thoughts on adding to positions. I bought both the C and DIS calls as you first suggested – when they went down I added to both and now the decision looks good. But it wasn’t discipline as much as the fact that I like both stocks. Thanks for all the help
Really appreciate the video update as a more in-depth look at the trades and how they are doing, sort of confirming that I DO understand. As someone who had never traded options prior to OMM, I feel very comfortable with the pace and format. Only paper traded the AMZN trade because I wasn’t entirely sure how this worked: the video really helped!
Dan –
Thanks for taking on the task to do OMM. I would like to say that the more I listen to your teaching videos the smarter you become. I don’t know how you do it but keep on teaching. Thanks for all that you and Gary have done.
I have read many books on option trading, yet your educational videos have been by far the the best.
I am writing this because i need a big winner. Unfortunately, I lost pretty big on mcd, unp, and so far citi. Looking for a rebound. Hoping that your next recommendation makes us all money.
Brandon, sorry to hear you’ve lost money. With any new activity, including options trading, it’s important to start small. Putting all your remaining funds into one “hail Mary” trade usually doesn’t work out. It takes time to slowly regain what you’ve lost. Dan’s UNP trade was about a 10 percent profit, so I’m not sure why you lost.
Start small and learn the right technique. Some people are starting even smaller, with just paper trades, until they understand better what they’re doing.
-advice from a trader that lost his shirt and more before I got Dan’s message.
Is there somewhere on the site where I can find the trade updates (updated stops, limits, etc). I do receive the e-mail updates, but I need a back-up as my mailbox is too large at times.
I would also agree on the quality vs quantity. I had a subscription for weekly option trades. They did two trades a week no matter what and I wound up losing more than I made. I would have rather had NO trades than something that lost money.
Dan, it would be nice if you have a list of stop updates. It’s really time-consuming to try to listen through the whole vedio to find stops, especially on the trading day when stops are getting closer.
Dan, so there are no changes to the stops on the long call trades?
Dan, thanks so much for the updates…very much appreciated. Hope they are a regular part of the program.
DAN, not sure what you mean about the APA not filling. My APA 115, 110 spread filled at a limit of 2.00, in the morning of the day after you issued the trade. For those of us that had the order fill, what do we do now? Does the trade still look good to hold through expiration? Thank you!
Not Dan, but the original trade was a day limit order that cancels at the end of the first day. If you got filled the next day, then I would assume you are on your own.
The trade was announced in the evening. My trade filled the next day, the morning of 1/31/2011. That was the first trading day after the trade was announced.
My trade definatley filled the morning of the first day at credit limit of $2
DAN – Ditto on getting filled on the APA Bull Put Spread. I used the 110/105 and was filled at $1.10. So please continue coverage since it seems several of us are in this trade.
APA — I will continue to follow APA. Not a problem on my end at all.
Dan, Ditto with me also, I got filled at $1.30
Dan, Thanks for the updates. When I started trading, I started with spread trades not stocks. After about a year trading of only spreads, I decided to try swing trades. I am so glad that I could be a part of your beta tester group and I can get back into the spreads. I am totally facinated with the long calls, which I’ve never traded before. I will not limit to only one kind of a trade again. I am looking at diversification, not only by trading different industry groups but also different trading strategies.
Dan- thanks for the update. When you look up hyperactive options trader in the dictionary you will see a picture of me.
Fear and lack of patience I think are the reasons I’ve not been profitable on what should have been perfectly good trades. Thanks for hammering the hard truth. I need to hear it…..
I wish we would get more trades please
Hi Gerald. The produce is 1-2 trades per week.
We are providing 1-2 trades per week.
Dan, great so far! We certainly prefer quality trades over quantity of trades!! 🙂
I understood 1-2 ideas per week when I signed up, and that’s what we’re getting. I’d hate to see Dan press and give ideas that aren’t up to snuff simply to meet some silly quota.
Dan,
Keep up with the quality and NOT quantity. We will all be happy with light trading activity as long as they are good
trades. Take your time and go with the high probabilty trades. Great job, keep it up.
Dan: DIS will report earning next Tuesday. I understand that the initial trade was to hold it through earning. But now I see 5% short interest radio on the stock. Not sure if it is too high. I’m wondering if we should take some profit before the earning. Or should we rise the stop to protect our profit?
All this has been good experience. Have enjoyed the forum and have learned much. What I would like to learn is how to set my own stops by calculating them based on stock pricing… Can you give some guidance on this?
I have been waiting for some suggestions on the stops. Dan said he keeps his stops at 25%. I set that on Disney and got stopped out before the move up. Some discussion on stops would be appreciated.
I also need help in this area. How do we set stops on bull put spreads?
Thanks for feed back,
Bud
I understand some frustration about the quantity of trades. That said, the goals are education on high probability trades. From there profits to varying degrees and manageable losses should the trades go against us.
Consider this please if you are frustrated. For me it is clear. I Beta tested to learn some things I didn’t already either know or feel comfortable with. Dan and Gary have every intention of this being a positive experience for all of us.
Best of luck.
Mike, says…I’m pleased. I find the questions most amusing! You are teaching some real rookies. I am impressed you took on this task. You are like a life line to some of these folks. They hang on every word you speak.
I would hope that the real Newbies are useing a Sim. acct. to learn these trades. I, myself enjoy tweaking the trades a bit and or taking them as is. In the equtiy side of trading I mostly trade options. I never would have thought about CRUS, and I made more than 100% on that. Thank you very much Dan for that “idea”.
. I just want to say this…Dan, the SMM and the OMM are the BEST trading rooms I have ever been in. I have been in rooms for about 7 years. Some of the traders in the SMM room that are seasoned with screen time are so savvy and “there” in the mind-set of trading.
Ideas… are what I’m looking for. I also like your teaching and your “look” at the markets., you have at least for me…a very calming affect. Of course this calming affect is critical mentally. I can not trade if my mind gets in the way. I suppose I could type forever, but I won’t.
Thanks again for your time Dan.
Peace..out
Mike
Dan,
I just watched the vid. stoked on DIS-SWN>>once again, thanks for the ideas!!
Mike
What’s the matter with your videos, it stopped and could not complete your presetation?
Ed, it’s likely that you had an Internet connection problem. Reload the Internet page, then the video will reload. Wait a minute after you first click on the video for it to finish loading, before moving the playback indicator to the point where your watching of the video previously stopped, and continue watching from there.
Thanks Dan,
As a seasoned stock trader, I never had the time or motivation to understand how to effectively use options. Despite the advantages, the initiation was too intimidating. You have quickly changed my perspective, and I now I can’t believe how much I was missing out on! I’ve already placed several successful trades modeled on the strategies already presented. Looking forward to the continued education, but I wanted to express my sincere gratitude for your mentorship.
Ready to drop my Fidelity account. With your inside perspective into the business, I know you like the Najarians, but what is your take on Interactive Brokers? The margin rates and options trading platform are alluring. Margin rates seem to be an advantage over the monster, but what about the fills?
John, I have been useing IB for 7 yrs. It’s the BEST for fills and pricing
DAN- as mentioned earlier by Jenny, can you comment on how you will manage risk of DIS long call through earnings? If price moves down slowly, your stop loss should be fine. However, how do you protect if gap down should occur? Do you close the long call before earnings or do you buy a long put and make trade into straddle/strangle? If possible, please advise before Tues close and DIS reports earnings. Thanks!
Dan, in previous trades you sent the stops updates or trade parameters in text format, could you post them here?
I’m out of home and I can’t see them on my black berry, I know I should have an iphone, but that is another story.
There were no changes in stops, prices, or anything else. The update was just a courtesy to those who need more refreshing/education on options. If there are any changes to stops, etc., I will certainly include them in the text.
Dan, this is great – I am really learning as a newbie. I would like to understand your thoughts on adding to positions. I bought both the C and DIS calls as you first suggested – when they went down I added to both and now the decision looks good. But it wasn’t discipline as much as the fact that I like both stocks. Thanks for all the help
Gary, with SMM I don’t have to continue to re-enter my login info every day but I do with OMM – is there something I’m missing ? Thanks
Really appreciate the video update as a more in-depth look at the trades and how they are doing, sort of confirming that I DO understand. As someone who had never traded options prior to OMM, I feel very comfortable with the pace and format. Only paper traded the AMZN trade because I wasn’t entirely sure how this worked: the video really helped!
Dan –
Thanks for taking on the task to do OMM. I would like to say that the more I listen to your teaching videos the smarter you become. I don’t know how you do it but keep on teaching. Thanks for all that you and Gary have done.
I have read many books on option trading, yet your educational videos have been by far the the best.
I am writing this because i need a big winner. Unfortunately, I lost pretty big on mcd, unp, and so far citi. Looking for a rebound. Hoping that your next recommendation makes us all money.
Brandon, sorry to hear you’ve lost money. With any new activity, including options trading, it’s important to start small. Putting all your remaining funds into one “hail Mary” trade usually doesn’t work out. It takes time to slowly regain what you’ve lost. Dan’s UNP trade was about a 10 percent profit, so I’m not sure why you lost.
Start small and learn the right technique. Some people are starting even smaller, with just paper trades, until they understand better what they’re doing.
-advice from a trader that lost his shirt and more before I got Dan’s message.
Dan,
Is there somewhere on the site where I can find the trade updates (updated stops, limits, etc). I do receive the e-mail updates, but I need a back-up as my mailbox is too large at times.
Thx.
I would also agree on the quality vs quantity. I had a subscription for weekly option trades. They did two trades a week no matter what and I wound up losing more than I made. I would have rather had NO trades than something that lost money.
Dan, it would be nice if you have a list of stop updates. It’s really time-consuming to try to listen through the whole vedio to find stops, especially on the trading day when stops are getting closer.