[mjgill1]

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[mjgill1]

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[mjgill1]

That’s great! Thank you.

[mjgill1]

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[mjgill1]

It really is amazing how fast profits go away. I hope you can get a screen shot up and thanks for the reply.

[mjgill1]

Thank you Teddi. Yesterday was a prime example of that. I did great in the morning, making ~$1700 in the first couple of hours. Then, I got stuck in a put buy. I bought more and tried to average the cost down, but it seems like you can only buy so many before things begin to get dangerous. I waited all day for the market to dip. It never dipped enough and I considered holding the puts until today, but sold them at the last for a loss. I still made over $1000.00 for the day. I wasn’t sure if the extrinsic value would diminish too much and make it harder to break even since I was using Aug.21 Expiry. I have the one minute strategy basically memorized and follow your SPY posts like a hawk for comparison. I seem to be doing everything right. Curious to know if you would have taken the loss, waited for today, rolled them forward (don’t know it that’s possible) or not waited and taken a smaller loss earlier in the day. If I did that, I could have entered more trades and probably made my loss back over the course of the day? Thanks again,

[mjgill1]

Made a good trade after the above and came out ahead $482. Done for today.

[mjgill1]

still studying and have a couple of quick questions. Under the example trade in the put selling index you linked me to, https://www.fullyinformed.com/nakedputs/simple_naked_put.htm it says. “4) Checking the support technical levels I see the following: 5 day support, 15 day support 80 day support. Where do you find that? I am setting up a tab on my IBR mosaic specifically for options analysis but can’t find that study anywhere. (Support technical level study?)

Also, paper trade: Sold 10 put contracts of MSFT at $200 strike on 7/21 for $2.44 for the 7/31 expiry. I saw that you had sold some at the $175 strike. Boy was I way off. This morning MSFT is down below my strike in the money even after the good earnings report. As I write this it’s at ~$198 so I am at risk of being assigned. Interestingly, there is more Open Interest at this strike as I write this than any other strike listed on my options chain.

I realize this is a bit subjective, but at what point to you get nervous about this and roll or bail out? Is there a dollar threshold, say when the stock gets to within $1.00 of the strike? I know I broke rules on this one and it’s paper, so it’s a good opportunity to practice a market turn against me. Just not sure when to execute to avoid assignment. Who knows, it could turn around today and get back up where it needs to be. I’m just not sure. By the time you see this, I may have been assigned or bought it back for a loss. It’s a mess up and I will learn from it. I should have looked at the support levels but don’t know about them yet.
Thanks,

[mjgill1]

I actually talked with them this afternoon for a bit. He helped me with the delayed market issue. Now I pay $1.50/month but have actual market timing on the paper trading account. I’m pretty sure we have the offer to buy sorted. I just needed to right click on the stock that shows up in my portfolio window and open an order ticket. Then specify a limit amount and (GTD) good till date. It’s pretty cumbersome for now, but I’ll adapt. I had to read your instructions to the guy a few times but it seems like we got it. Here’s a screen shot. Maybe you can discern if we have it correct.
BTW, can’t wait to get better at this and learn some of your other strategies. I think the reason I can’t duplicate your charts is that I am using a different version of IBR or something like that. I’ll keep at it though. Thanks again,

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[mjgill1]

Are you able to duplicate the studies that Teddi shows in her posts on your ipad? I have all Android and PC products.
I was always taught that if you want to be successful, look to someone that already is, emulate them until you develop proficiency and then develop your own style. Her “Teach a man to fish” is exactly what I was looking for. I have learned so far and realize that there is tons more to learn. I get frustrated when I can’t duplicate what the master is doing and like you said, this TWS that I am using is difficult. But, it’s what the master uses, so…
Thanks for the reply. I will certainly look into everything you talked about right now.

[mjgill1]

Started paper trading yesterday. Sold 5 puts at $200 strike for July 31st Expiry for $3.90. Trying to figure out how to put in “offer to buy” prior to exipry in order to take profits early as instructed.

I put in an offer to buy 5 put contracts at July 24th expiry for $2.00 and was going to watch them and change it daily as instructed as the exipry approached but I don’t think I did it right. Here’s a screen shot. Can you confirm that this is right or wrong? Can you tell me how to do it if this is wrong? I can’t seem to find choices on TWS that match the terminology used in your articles. I feel like I have to offer to buy the same put contracts that I sold in order to close the order when the time comes. A friend said that I just need to buy 5 contracts and that would close the order. If this was real, I would be wrecked. Thank God for paper trading, LOL.

You can probably tell that I am having trouble figuring out Trader Work Station. The candle sticks are screwed up too. You can also see that my set up looks nothing like yours. Ugh.

Later yesterday I received your MSFT trade idea in my email and you were selling puts at ~ $175 strike. I guess I was WAY off. Is there any way I could see an example of what my tabs should look like? I suppose you have many different ones for divers market situations. I just don’t know. It’s like I have the fishing pole in my hand and can’t figure out how to operate the reel or cast the bait.
I posted this in the general talk-gossip forum initially because I didn’t want to be a bother and didn’t know where else to put it. Could you delete it please. I didn’t get any responses and am unable to delete it for myself. I’m starting to think that the July 4th special may have been a good idea. This stuff is rough.

Thanks,

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[mjgill1]

Great. How do I select stocks based on their strength and use the tool? You said dont jump in to paper trading before you show me those two things. I’m ready. At least I think I am lol.

[mjgill1]

Scratch the IBR platform comment. Found a really good tutorial and learned a ton.

[mjgill1]

Ok, I’m back. I read everything on the page except some of the strategies and have a decent understanding of selling naked puts. I have also read everything that you push out of groups.io and the email alerts for the last several days. I really like what you do in SPY!!! WOW!
I think if I can combine my reading with paper trading it will help solidify things in my mind better.

I am still struggling with the IBR platform. I can’t seem to duplicate what you show in your examples. I really like how you do the technical analysis. I would like to duplicate it. Any chance you could tell me more about your set up? Also, is the put selling tool only available to members of the website? If so, and I “Learn to fish” on my own, won’t I be a dependent if I use it? Not poo pooing anything, just making sure I’ll be able to continue on my own in the future when I leave the nest so to speak. :-)

Thanks,
Mike

[mjgill1]

Hi Teddi,
I will follow your link and do all the reading. I have been watching videos trying to digest and internalize the jargon. Every day it gets a bit more familiar. You are right. It will take time. I’ll probably put way more time into learning than the average bear, no pun intended. Will let you know when I am ready. I signed up for your group notes and my goodness you are busy!!! It’s overwhelming the amount of information you put out each day. I suppose a lot of your subscribers only do a couple of the things that you do. Anyway, thanks again and I’ll be back.

Edit: I followed the link and have a quick question. Should I start at the bottom of the page since that is where the oldest articles seem to start?

[mjgill1]

Thanks Teddi.
In the mean time, over the weekend I found this video https://www.youtube.com/watch?v=7PM4rNDr4oI which explains the basics of options and the terms that I have been struggling with. It’s very long, but you can take a quick look at the topics he covered as they are listed below the video where it says “show more” and let me know if I am on the right track with it. I will have to study this at least one or two more times before it really sinks in. It’s a lot to take in for a baby like me. While I am waiting for your help, could I ask if you could tell me where you get the tools that you display in your blogs? The ones that show the candle sticks, bands etc. Also, you know I went to Interactive Brokers and opened an account so I can paper trade. Could you tell me what to download from them? Is it the software package that contains their trading platform??
I know things won’t happen overnight for me, but if I work really hard and study like crazy, I hope to be doing some live trades sooner rather than later. Thanks again

[mjgill1]

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