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At OEX Street, our philosophy is: "Trading the Market with an Objective Approach". OEX Street has published real-time OEX options trades on the internet since 1999; making us an internet pioneer in OEX trading. In 2003 we introduced day trading of eMini futures, both Russell and S&P. After nearly a decade of hands-on trading, OEX Street has dispelled the myth of impulsive trading through the use of a mechanical approach. OEX Street removes the influence of emotion and increases the success rate, resulting in an objective, researched signal.
Oct 15, 2007
- Day Trading Options can be a lot of fun when you combine a set of researched trading parameters. It doesn't matter if the market is going up or down. You can make money trading options...
Monday, October 15, 2007 -- Today, the market continued with the weakness that started last Thursday. Naturally, the bounce on Friday was simply a reflex move. We've yet to see the market put together back-to-back selling in several weeks. Therefore, today's move lower was of no surprise to us. In fact, approximately 1 hour into the morning we entered the October 725 Puts.
As the chart illustrates, we scaled out at levels 723 and 721.50. We decided to completely move to the sidelines once 721.50 was reached. The reason for this was the perceived support from last Thursday's intraday low (721.16). As you can see, the OEX fell to this area and proceeded to trade sideways for the next hour. True, we did not ride the position to the actual lows of the session. But then again, a profit of +35% is something you don't gamble on. The first exit came within 14-minutes of entry and the second exit came just 15-minutes later. Not a bad way to start the week.
For illustrative purposes, here is the progression of today's trade:
by Jospeh FORD - http://oexstreet.com/ "Trading the Market With an Objective Approach"
p.s. Membership to oexstreet.com now includes auto trading access to our russell eMini system, NUTUS ER....
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Disclaimer:Please note
that charts and commentary provided by the moderator are for educational
purposes only. Any trades placed upon reliance on the moderator’s
charts or information is taken at your own risk for your own account.
Past performance is no guarantee of future results. While there is great
potential for reward trading stocks, futures and options, there is also
substantial risk of loss and you must decide your own suitability to trade.
Future trading results can never be guaranteed. This is not an offer to
buy or sell stock, futures, options or commodity interests. Most trading
systems are based on historical formulas which have worked in the past.
However, what has happened before may or may not happen again. You can
lose all your money trading stocks, futures, and options and you must
decide your own suitability as to whether or not to trade. Only trade
with true risk capital you can afford to lose. Only trade markets you
can properly afford to trade. Properly funded trading accounts typically
perform better than those that are not. Never risk more than 2-3% of your
account on any one trade. Always define your risk before entering a trade
and place a stop to limit your risk. There are
no guarantees or certainties in trading. Trading involves hard work, risk,
discipline and the ability to follow rules and trade through any tough
periods during a system’s draw downs. If you are looking for a guarantee,
trading is probably not for you. Most people lose money trading. One of
the reasons is that they lack discipline and are unable to be consistent.
A system can help you become consistent. Ironically, worrying about the
monetary aspect of trading can contribute to and cause a trader to make
trading errors. Therefore, it is important to only trade with true risk
capital.
