This is a interesting spreadsheet to use if you know with some certainty what your win % is. It will help determine the random probability of X losses in a row given a number of trials. It doesn't calculate an event like losing 3 in a row, then win once and continue losing 3 in row again
*This spreadsheet was not created by me. It was created in another forum and is included as it was downloaded without modification as I am not the author. If this is against forum rules please remove
The following 2 users say Thank You to Chubbly for this post:
When trading Ron's concept, I place an order to buy back the puts at 50 %, and I wait until the order is filled. I do not liquidate the position early. Only exception: I go on vacation, and want to stop trading for a while. (And, of course, the stop loss.)
But it may happen as today, that 5 of my 11 orders to liquidate were filled on the same day.
Best regards, Myrrdin
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I just found out that TD Ameritrade charges $2.25 for selling ES option and charge another $0.56 for other fees, total $2.81, SPAN margin is used. I am using OX now, charged $4.07 total, maybe switch to TD Ameritrade (TOS)?
I place a GTC order to get out at 50% of initial premium. It trades then. Nothing manual.
I traded out of some contracts at 6:10 this am when I was sleeping.
The hard part is deciding when to reenter positions. I am beginning to think that I should just reenter as soon as I exit prior positions. Sometimes that is correct and sometimes it isn't. They probably balance each other out.
I didn't do that this am and now that it is up more than when I got up and I have maybe missed some premium. So now do I enter when market is up 25.00 or do I wait for pullback? But if there isn't a pullback I missed more money.
That's the thousands of dollars question.
The following 5 users say Thank You to ron99 for this post:
Hi Ron I'm new here thanks for contributing to this wonderful thread. I am thinking whether it is viable to reload at the option which is cloest to your 60-90 day mark. For example, if profits are taken today I am looking to enter @ Aug expiry with 72 days to go. This way it seems more mechanically driven than emotionally driven.
Thanks once again.
The following user says Thank You to virileblood for this post: