All winners this month except for mistakenly putting a limit order instead of a stop loss on my OEX puts. I ended up buying half of my original purchase after the accident because the OEX trade was not part of the star trading system, I was not very confident about it. I used the support and resistance from the point and figure chart with 30 and 50MA indicators to decide whether to get in this trade. Thanks to Lastchance who enlightened me about support and resistance using point and figure charts. He's been trying to get me to learn it for months and I only picked it up after he's successfully done a few trades.
The good thing about all these trades was that I made the sell decision based on the support and resistance and so far they are doing okay. It feels good to be certain about when to exit.
Balance after exit trades made in November: $4,519.78 (+18.94%). Click "read more" to see my trades.
| EXEC TIME | SPREAD | SIDE | QTY | SYMBOL | SPC | EXP | STRIKE | TYPE | PRICE | NET PRICE |
|---|---|---|---|---|---|---|---|---|---|---|
| 3/7/07 23:47:44 | SINGLE | BUY | +4 | CNQ | 100 | APR 07 | 50 | CALL | 2.70 | 2.70 |
| 3/9/07 23:50:07 | SINGLE | SELL | -2 | CNQ | 100 | APR 07 | 50 | CALL | 3.40 | 3.40 |
| 3/10/07 02:27:04 | SINGLE | SELL | -1 | CNQ | 100 | APR 07 | 50 | CALL | 3.90 | 3.90 |
| 3/12/07 23:20:10 | SINGLE | SELL | -1 | CNQ | 100 | APR 07 | 50 | CALL | 3.30 | 3.30 |
| RETURN: +29.63% | ||||||||||
| 3/22/07 21:36:23 | SINGLE | BUY | +2 | OEX | 100 | APR 07 | 650 | PUT | 5.30 | 5.30 |
| 3/23/07 01:01:33 | SINGLE | SELL | -2 | OEX | 100 | APR 07 | 650 | PUT | 4.90 | 4.90 |
| RETURN: -7.55% | ||||||||||
| 3/23/07 01:05:30 | SINGLE | BUY | +1 | OEX | 100 | APR 07 | 650 | PUT | 5.10 | 5.10 |
| 3/28/07 21:40:02 | SINGLE | SELL | -1 | OEX | 100 | APR 07 | 650 | PUT | 7.50 | 7.50 |
| RETURN: +39.51% | ||||||||||
| 3/23/07 22:24:34 | SINGLE | BUY | +4 | UHS | 100 | APR 07 | 60 | PUT | 2.25 | 2.25 |
| 3/27/07 23:42:47 | SINGLE | SELL | -3 | UHS | 100 | APR 07 | 60 | PUT | 2.90 | 2.90 |
| 3/28/07 02:14:56 | SINGLE | SELL | -1 | UHS | 100 | APR 07 | 60 | PUT | 3.00 | 3.00 |
| RETURN: +30% | ||||||||||
Total profits for the month: +91.59%
Average profit for the month: +22.90%
Technorati Tags: Options trading
Comments
Question
Hello,
Do you still use the Star Trading System from Masters 'O' Equity ??
If so, do you think its worth the $499 asking price ??
Hello.. yes, I am still use
Hello.. yes, I am still use the star trading system. I made back more than my course fees in star trading so I think it is worth the $499 price.
Hi, Regarding this Star
Hi,
Regarding this Star Trading system, how do you find the accuracy so far? Would like to have some advices before jumping in...
Hi Ray
Hi Ray, you can look at this post I made which summarizes all the trades I had taken last year with the star trading system. Let me know if you have anymore questions. :)
Great to see you succeed!
Hi
It's good to see you succeed but the question is that are you really satisfied relying on other people's picks for success. I know that you have learned to trade options well, but what it all comes down to are the stock picks. Make your own system and understand what is required for it to work.
Hi, thanks for the feedback.
Hi, thanks for the feedback. The star trading system is not picks, it's a system. I've been taught what kind of stars to look for and when to enter them, what stop loss to put and all that. It was a stepping stone for me to learn about options, so I'm expanding my horizons about options right now by learning from other systems.
I am also using picks from options intelligence (which I originally thought I was buying a trading system/strategy... not a pick service), I do not like being told what to buy and what to sell at all but it does give some new insights about trading.
options intelligence
Are they really true as they claim.?
Guarantee to make at least 25 percent.?
Langes
New system
Hello PeapSqueak,
I read in one of your comments that your looking for a good system to know exactly when to exit a trade, will you post it once you have found a good one.
Thanks in advance.
New System
Hi Martval,
See here: http://www.staywealthy.com/blog/pipsqueak/pop-thoughts/trade-live-with-qualified-forex-instructors-for-free
It's not options trading system, but forex. They have good systems with target profits, stop losses, conditions to enter, etc. :D
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