Option Trades July 2006 – Double Capital Month!
Aug.04, 2006 in
Options trading
I finally doubled my capital! Now I’m aiming for $10k by the end of the year! I do think there’s a flaw in the options trading system I’m using, it’s missing a good exit strategy. I find some of my profits are either taken too early or the profits turn into loss. I’m looking for an exit strategy that can fit with the star trading system. If anyone has a good exit strategy for options, please share with me. 
Balance after exit trades made in June: $4,453.25 (+13.60%). Click “read more” to see my trades.
| EXEC TIME | SPREAD | SIDE | QTY | SYMBOL | SPC | EXP | STRIKE | TYPE | PRICE | NET PRICE |
|---|---|---|---|---|---|---|---|---|---|---|
| 06/07/06 22:22:54 | SINGLE | BUY | +2 | NCX | 100 | SEP 06 | 30 | PUT | 3.00 | 3.00 |
| 12/07/06 02:18:49 | SINGLE | SELL | -2 | NCX | 100 | SEP 06 | 30 | PUT | 2.30 | 2.30 |
| RETURN: -23.33% | ||||||||||
| 17/07/06 22:22:39 | SINGLE | BUY | +3 | MFE | 100 | AUG 06 | 20 | CALL | 3.40 | 3.40 |
| 20/07/06 22:06:08 | SINGLE | SELL | -2 | MFE | 100 | AUG 06 | 20 | CALL | 3.62 | 3.62 |
| 20/07/06 22:06:08 | SINGLE | SELL | -1 | MFE | 100 | AUG 06 | 20 | CALL | 3.63 | 3.63 |
| RETURN: +6.57% | ||||||||||
| 10/07/06 22:55:51 | SINGLE | BUY | +2 | THE | 100 | AUG 06 | 40 | PUT | 4.30 | 4.30 |
| 18/07/06 21:30:47 | SINGLE | SELL | -2 | THE | 100 | AUG 06 | 40 | PUT | 5.20 | 5.20 |
| RETURN: +20.93% | ||||||||||
| 20/07/06 22:26:42 | SINGLE | BUY | +3 | DRYS | 100 | SEP 06 | 7.5 | CALL | 3.70 | 3.70 |
| 03/08/06 00:30:37 | SINGLE | SELL | -2 | DRYS | 100 | SEP 06 | 7.5 | CALL | 5.20 | 5.20 |
| 04/08/06 00:21:07 | SINGLE | SELL | -1 | DRYS | 100 | SEP 06 | 7.5 | CALL | 5.50 | 5.50 |
| RETURN: +43.24% | ||||||||||
Total profit for the month: +47.41%
Average profit for the month: +11.85%
August 22nd, 2006 at 6:57 pm
great job
would you mind to share what other criteria to scan/choose your picks? i just open an accoun at TOS but i don’t know how to place a trailing stop and stop loss. Would you mind to share with me?
you can email to me directly.
regards,
beginner
August 23rd, 2006 at 12:03 am
Thanks Footy,
I pick the stocks based on criterions set out by the star trading system at Masters ”o” Equity. Basically, the star trading system use 4 main criterias: Candlestick chart pattern (morning and evening star), stochastics (oversold or overbought), spread (not more than 30 cents) and options interest (more than 20).
If you want to learn trading fast, then I’d suggest you find a trading system (such as Star Trading System) that suits you. Or if you prefer to create your own system, candlestick patterns can be learnt from books written by Stephen Bigalow or Steve Nison, their books are obtainable in bookstores.
As for TOS’ trailing stop loss and stop loss, these are under the “trade” tab. When you create an order entry, you’ll see a pull down list for the order type: trailing stop loss is “Trail”, you specify the cents you want it to trail at; and stop loss is “stop”. There are tutorials on the software at the “help” section if you need anymore help.
All the best Footy! If you sign up for star trading system, let me know and I’ll introduce you to my other star trader friends so that you can learn faster.
September 1st, 2006 at 4:24 am
Good Job