Monday, April 13, 2009
April Expiration Week - What Is & Isn't Working?
Ok guys here we go down to the wire for April. Any thoughts going into expiration? I didn't do very well the last two months with neutral trades likes Iron Condors and Calendars in part because of the changing market directions but also because I misread or mismanaged the positions through inexperience. Have to get much better and controling the risk and downside. I did do pretty good on calls and puts , mainly naked puts and credit verticles although these had smaller overall returns per trade. What is and isn't working for you?
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covered calls are working for me. I own and bought some stock over the past 4 weeks, fully knowing that I am in for the longer term.
ReplyDeleteIn between I do cover my stock from time to time it looks like it is stalling. I would have been called out this Friday on 3 of them. So on Monday I sold the entire positions with a nice gain. Now I am looking for points to sell naked puts in order to get the stock back.
Verticals didn't work for me either in the past 4 weeks. I was trading my thoughts and not what the chart was telling me. Needless to say they were loosers.
Directionally I traded some stocks and options and they worked better. Looking back, I need to work on my target estimation for swing trades. Although I made a nice gain, I left plenty of money on the table... The trades were according to my plan. For that they were good trades. But my targets were completely wrong. I got to listen better to Dave, when he explains target definitions.
Hi Britta I see you in a lot of trading capstones. I do a lot but I'm having trouble keeping up with them all. (Listening to Dave is infectious.) Overall it seems to me a lot of the coaches were not doing all that well in their online portfolios till the market started trending up. Now a bunch of them are on a run. Looking over my trades I have to say naked puts are currently my favorite. There are a lot of stocks I would not have a problem owning. I also did pretty good on credit verticles with 13 out of 16 wins but the amounts are small and got mostly wiped out by 3 or 4 bad ICs or Calendars. I would like to learn and get good at Dave's bull flag system but I don't have his nerve or confidence yet and I keep getting bitten on those long call plays too so I have reduced my risk tolerance. One thing I have tried this last week are a couple last week April naked puts. One is working out fine one is borderline so tomorrow will be borderline exciting!
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