Pailin's Trading Corner

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Mon, Sep 17, 2012 - 9:12am (Reply to #27771)
csquared13
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Puck T. Smith wrote: Not sure

Puck T. Smith wrote:

Not sure if this is the right place to ask this, but if a person--me, for instance--wanted to try his hand at options or futures trading, is there some place I can get an overview of the basics? I'm not thinking about trying to become a millionaire or anything. I'm just thinking if it was not too costly to get started and I was using money I could afford to lose how do I get started? PM me if this is not the appropriate forum.

i've been reading the tutorials at the chicago board options exchange. they have an "education" section. there is also an options calculator that i found useful.

“Everybody gets what they want out of the market.” -Ed Seykota
Mon, Sep 17, 2012 - 9:16am (Reply to #27764)
BlackHawk
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Unlimited QE

Quote:
I have yet to read anyone questioning the meaning of this distinct and important qualifier. (If anybody has please let me know.)

Unlimited? What does that mean? Like an infinite universe? A black hole? An asymptotic graph line?

Redwood, I think the number is about five quadrillion, plus/minus a few trillion in rounding error. That is the estimated size of the off-the-books leveraged toxic derivatives market. Check out The Keiser Report, and Max's rant of the miracle "transmutation" of pure junk derivatives to treasuries. It's very sobering. https://rt.com/programs/keiser-report/episode-341-max-keiser/

Quote:
Today Netanyahu is demanding that the US come to Israel's aid sooner rather than later. I understand he is even trying to interfere with electoral process. I guess he does not trust Obama's loyalty.

Bagga' please...wink(heavy, heavy sarc, just liked the play on words, redwood)

Romney already hatched a deal with 'yahu to back Is-unreal in war to infinity. Then 'yahu comes back and throws blackmail at Obama and the so-called election process. To Obama's credit, he bowed up (finally) when pushed far enough against the wall by the leaders of these two "chosen by God" people (Mormons and Jews). Like I said, Bagga' puh-leeeeease.......

And now, back to regularly scheduled trading and market mayhem. GLTA. We're really gonna need it. IMHO, the gov'mint is in a total panic. Things may not be going according to The Plan, whatever that is/was.

Mon, Sep 17, 2012 - 9:22am (Reply to #27773)
redwood
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Thanks for the laugh.  But I

Thanks for the laugh. But I wasn't necessarily referring to a number, but the political/social implications. As you say upward and onward to trading. GLTA today. Should be a good one.

Mon, Sep 17, 2012 - 9:40am (Reply to #27770)
BlackHawk
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@ivar, banking outside Latvia

Ivar, maybe you should look into Costa Rica. You could do a lot worse, but I can't guarantee this is the answer either. They have a very low entry level based on investement to get permanent residency there. I am considering it myself. I don't know if you are considering emigration from Latvia. I used to consider Scandinavia as a safe place for pretty much anything, aand I lived in Sweden for a time. Now, I don't think so since Sweden seems to be captured by the US now. I base this on their reaction to Wikileaks and the trumped up charges they levied on Assange. Norway is NATO and very safe financially. Denmark, don't know. Finland, EU major player. Switzerland, a very good bet.

Costa rica info: 2. INVESTMENT AND INCOME BASED RESIDENCY [Rentista]

To apply for residency under the Rentista portion the applicant must demonstrate a permanent fixed income of at least US$2,500 per month. This amount includes the applicant, their spouse and all their children which are under the age of 25. The legal basis for the rentista category under the new immigration is Article 82 of Law 8764

Generally, those who seek the Rentista category do not have a pension source and instead have investment income. To apply for this category it is necessary to provide proof of the investment and that it will generate the requisite amount per month which is required under this program. As such the applicant must provide a letter from their bank or financial institution where your funds are deposited certifying the existence of that income. It is not required that the funds be held in Costa Rica. The letter can be issued by international banks as well as Costa Rican banks.

The ideal letter issued by the financial institution should state that the recipient will receive at least US$2,500 per month in Costa Rica in a stable and permanent manner......

https://www.costaricalaw.com/legalnet/residency.html

Mon, Sep 17, 2012 - 9:51am (Reply to #27772)
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csquared13 wrote: i've been

csquared13 wrote:

i've been reading the tutorials at the chicago board options exchange. they have an "education" section. there is also an options calculator that i found useful.

Thanks. I'll check it out.

The way that can be shown is not the Way
The name that can be named is not the Name
Mon, Sep 17, 2012 - 10:10am
SSK
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I'm trying to be patient

I'm trying to be patient here. I will buy the hell out of this dip in the miners. NUGT at 17? The gap at 16.85? What your entry point, folks?

Added more MHR at 5.07. Oil still top of mind.

Mon, Sep 17, 2012 - 11:46am
Vypuero
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entry points in an uptrend

I have been considering this and I think something like the 13 and 21 ema areas are good entry points or using keltner channels the middle channel is about right as well (I think it is based on 10 day ATR (average true range)) - however the different chart programs I have often seem to have slightly different answers.

Mon, Sep 17, 2012 - 11:51am
Vypuero
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also re/Options

be very careful - pay close attention to expiry dates. For instance, a December Option in a stock is expired in December, but a December Option in a future expires in November. Also consider risk to be very high, so don't over load your portfolio, as 1 option is 100 shares, so look at the downside risk and be ready to exit if it turns against you - can't tell you how many times I got screwed not timing things right or waiting for a turn around. If you use a stock option, consider it like a stock as far as where you want to put a mental stop. My broker does not have actual stops for them, and they may not be such a good idea as they can get very illiquid at times.

If you want to buy some, and would like, you can PM me and I can give you an appraisal just to see if you are not making some big error. I am not an expert but I have been through most of the rookie errors and should be able to spot them.

Mon, Sep 17, 2012 - 11:53am
SSK
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Added a new position in SWC

Added a new position in SWC at 13.09. I used to trade this in tandem with LNG. It was my favorite channel trade. Popped and dropped all week long. It's a palladium/gold play. All North American mines. It has come alive again with the rally in the miners.

It's already popped.

EDIT: And dropped. SWC does have a gold/copper mine in San Juan, Argentina. The palladium mines all N.A.

Might get stopped out here.

Mon, Sep 17, 2012 - 12:27pm
Bum in the library...
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stock options

I like to trade SLV, GLD and NUGT options. If I was to buy an SLV option I would buy a November option in the money. Maybe a $32.5 Nov call option. I like to buy some extra time but don't actually like to hold them too long.

Mon, Sep 17, 2012 - 1:41pm
Vypuero
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also if you want to use less leverage

consider in the money options. For example, on the latest run up in gold I purchased $150 calls when gold was maybe $156? Not exactly sure - but they were only maybe $1 over their intrinsic value. So that gave me $15,600 of purchase power for $700 - you could use $140 for less leverage.

Again, though, limit your losses - if you don't want to lose more than $400, be prepared to get rid of them if they decline by that much.

Mon, Sep 17, 2012 - 1:55pm
pailin
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Well. About friggin' time :)

Well. About friggin' time :)

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Mon, Sep 17, 2012 - 2:00pm (Reply to #27783)
Patton
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Back In

pailin wrote:

Well. About friggin' time :)

Just got my S1 in GC. Didn't catch what prompted the beet down though.

Mon, Sep 17, 2012 - 2:04pm (Reply to #27784)
pailin
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Patton440 wrote: Just got my

Patton440 wrote:

Just got my S1 in GC. Didn't catch what prompted the beet down though.

Not sure which came first chicken or egg, but oil took a hit too. Got S1 in both metals :)

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Mon, Sep 17, 2012 - 2:12pm
Bum in the library...
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holy sh1t

wow... there she goes

Mon, Sep 17, 2012 - 2:17pm
pailin
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Smell like "we're going to

Smells like "we're going to war"...

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Mon, Sep 17, 2012 - 2:39pm (Reply to #27787)
Strawboss
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Very sobering... pailin

Very sobering...

pailin wrote:

Smells like "we're going to war"...

Jesus Christ is the only true hope that any of us really has. Aaaargh .. the monkeys!!! Trading metals is like playing frogger...there's always a big truck coming.
Mon, Sep 17, 2012 - 2:42pm (Reply to #27787)
Patton
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S2

Snuck in an S2 also. Not a bad day for reloading.

Mon, Sep 17, 2012 - 2:48pm (Reply to #27789)
pailin
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Patton440 wrote: Snuck in an

Patton440 wrote:

Snuck in an S2 also. Not a bad day for reloading.

Ditto. Already nicely green. That's the way it's supposed to work :)

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Mon, Sep 17, 2012 - 2:48pm
Bum in the library...
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that was some serious price

that was some serious price movement. hopefully we can close with a shooting star or a big lower wick

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