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Kim

Tips and suggestions for working members

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I would like to start a topic discussing suggestions how members can make the best use of the forum. I'm open to suggestions how to make the forum more useful for those who work full time cannot track the markets most of the day. I will move the most useful suggestions from members to this topic.

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Here are some of my suggestions for those who cannot watch the markets constantly:

1. Always check the discussion topic to see my considerations about the price.

2. Be patient. If you got the alert and by the time you placed the order the price is higher, don't chase. In some cases you will be able to get better price than me. If the price runs away, let it go. The system is not dependent on few big winners. Most of our winners are in the 10-20% range, so if you miss some, no big deal.

3. After filled, set a limit sell order. Aim for reasonable gains and stick to the plan. If not filled 30 minutes before the close on the day of the report, just get out for whatever you can.

4. I don't recommend using stop loss orders. IV fluctuates, you will be stopped out too frequently. Unlike "standard" options trades, the IV will keep the floor under the spread price before earnings.

5. If you are still concerned, don't trade weeklies. Many members just stick to monthlies and still get great results. They are usually much less volatile.

6. Don't forget about the Iron Condor trades we do. Many services charge much higher fees for just couple ICs, so even if you do only ICs (which require much less monitoring) and some occasional longer term (3-5 days) earnings trades, you still should get good results. Don't feel obligated to take every trade.

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Kim, I agree with all your suggestions. I work full-time and have been on your forum for about a month. I have done 8 earnings trades, 1 IC, and my portfolio is slightly less than breakeven. I would be up if not for some newbie mistakes such as chasing trades (too high opening fill debits) and not taking profits when a trade hits my target, specifically KMX. Limit sell orders is a very good suggestion, but for now I think I can watch my trades close enough as long as I keep to my target return plan. Getting fills can be challenging, but with patience and experience I'm getting better. I will also set up orders after hours, when I am certain of a target opening trade. SteadyOptions is definitely a good fit with my full-time job as the strategy limits risk so that I don't have to watch trades every second or use stop loss orders. Kim, great job with the forum/service!

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Thank you Lloyd. I think chasing is probably the biggest problem. Some people might have used other services before which are very dependent on few big winners, so if you miss some of them, your performance is significantly lower than the "official" numbers. Since we aim for many singles instead of few homeruns, there is no such risk with this strategy. If you missed a good entry, just be patient and let the price come to you. If it doesn't, so be it.

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Here are some of my suggestions for those who cannot watch the markets constantly:

1. Always check the discussion topic to see my considerations about the price.

2. Be patient. If you got the alert and by the time you placed the order the price is higher, don't chase. In some cases you will be able to get better price than me. If the price runs away, let it go. The system is not dependent on few big winners. Most of our winners are in the 10-20% range, so if you miss some, no big deal.

3. After filled, set a limit sell order. Aim for reasonable gains and stick to the plan. If not filled 30 minutes before the close on the day of the report, just get out for whatever you can.

4. I don't recommend using stop loss orders. IV fluctuates, you will be stopped out too frequently. Unlike "standard" options trades, the IV will keep the floor under the spread price before earnings.

5. If you are still concerned, don't trade weeklies. Many members just stick to monthlies and still get great results. They are usually much less volatile.

6. Don't forget about the Iron Condor trades we do. Many services charge much higher fees for just couple ICs, so even if you do only ICs (which require much less monitoring) and some occasional longer term (3-5 days) earnings trades, you still should get good results. Don't feel obligated to take every trade.

Kim,

You do this occasionally in the "DISCUSSION" thread for a trade, but for me but there is one thing that could help the members like me with a day job ALOT:

1. it is tough to follow all the trade discussions during the day and to filter out your opinion on when you may enter from the other members postings. therefore i feel it would be VERY helpful if you post the following to your (TRADES) section where only you can post (and maybe senior members like Chris and Marco). on the day where you feel you will enter a straddle or IC, an hour or two before the market opens, post the price your looking to enter the position or what you consider a "good" price. i know this can be tough, but if we knew you thought $1.40 was a good enough price on a WFC 33 straddle then we could set a limit order before the market opens. this has a MAJOR problem in that the price of the underlying may fluctuate alot before opening or the spread price could go way down and we could overpay. however this could still be helpful. frankly if the underlying moves we'd be delta positive or negative, BUT if we keep our positions small (correct me if I am wrong) this should average out over time. meaning that sometimes we'd win more then being delta neutral and sometimes we'd lose more.

alternatively using the database type table or the calendar feature on the site to post this info may actually work better. the point is though that we would have to funnel through less info, but we would still have a "heads up" on what your thinking is a good price.

thanks! the fact that you even started this thread is a testimony to what a good person you are.

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Thanks for the suggestions. I will think about some ways to improve things. I don't want to post in the Trades forum since t is strictly for the trades alerts. It has a certain format that some members rely on to automatically process.

If I understand correctly, the biggest concern of members is that many times they cannot get the same price as I do. However, I think that many times you might be able to get a better price with some patience. With our recent and current trades for example:

Last GOOG RIC could be sold for higher price just an hour later

Current WFC trade could be bought 6-8% cheaper.

AAPL RIC could be bought 2-3% cheaper.

Since we don't reply on few big winners for our performance, I think members should not chase trades. You should just place limit orders at the same or lower price. Over time, it should level out. And if you miss some trades occasionally, not a big deal.

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I agree that getting spreads and rough entry and exit targets would good. Problem there is that I'm sure targets are always changing and that Kim might have difficultly keeping posts updated. Also, trades could get filled at much different amounts than targeted. But still I think the info would be of great value and would really help members who work full time. NextOptions advertise that they provide target info, but I don't use the service so can't be sure.

Edited by LloydC247

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Originally, we had one topic to discuss the trades and post the actual fills. Then I separated it to Trades and Discussions, to have the actual trades for those who are not interested to see the whole discussion and just want the trade alert. Now you are suggesting another forum for "pre-trades". :)

The Discussion forum basically has the exactly same purpose. I'm usually posting there what price I think would be a good entry, when would be a good time etc. Most of the time, those topics don't have too many posts before we enter the trade, so it should not be a problem to follow them. I just think that adding one more forum might create more confusion than good. Again, I think that over time and with some patience, you should be able to get similar fills after my trade alert. I already adjusted the timing of the buy alerts to give members more time to get a fill.

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The point of this post is to see if other people in this full time day job situation are having similar experiences as me AND if there are any thoughts on how to make these trades work for us, if that is possible. Let's take the case where you have a full time day job that you get at most 1-2 times a day you could get to a terminal and enter/modify orders. Some days you may not get on your broker site at all in which case you would abstain from trading that day or make sure you do not enter "1 day trades".

Over the last 2 weeks, other than the GOOG #3 , AAPL RIC, and AKAM I did not see an entry point that by the time I looked was not already several % higher than Kim's and therefore I did not chase the trade, and subsequently have not entered many trades. Additionally it had not seemed possible to set these orders up at night or in the morning because the underlying stock price may have changed and thus many times you would not enter delta neutral.

Has this been anyone else's experience?

My one thought is, enter the order at a "fair price" the night or morning before the market opsins and if you are delta positive or negative, so what. ~ 50% of the time this could be advantageous and maybe it balances itself out over time? If you are keeping your trade allocations 10% or less you can likely survive some delta imbalance. Alternatively if you do enter delta positive or negative you could open up a position at some point in the day or the next day that would be the opposite (ex: you open a delta negative position if you are delta positive) to help balance this out. Perhaps always enter the monthlies? Perhaps we enter monthlies weeks prior to the earnings announcements on days when the overall VIX is down and look for much smaller gains?

Any thoughts?

Thanks!

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I've been so busy with my day job, I totally missed this thread of discussion! No pun intended! :) Yes, the morning post about the plans for the day has been a great help! My 2 cents, being self-employed helps, I try not to have any appointments at the 30 min. after opening and 30 min. before closing, so usually during those times seems to be the busiest times. So, I am usually in front of the computer at those times. As Kim has suggested in another post, as for an earnings play, I usually set a profit target of 10-15% with a limit order. I usually do stop what I'm doing (if I can), when a alert is given from Twitter. When it is a buy on a earnings play, I have learned the hard way to never chase, just put in a order for Kim's entry price and be patient, sometimes I don't get a fill till next morning, sometimes don't get a fill at all. What would help, is if something changes and the trade is no longer good, a post to hold off on for those that didn't get a fill. ie, today the LVS situation changed a bit, if I hadn't been keeping up with the posts, I might have put in a losing trade. Lastly, I started out just doing the Iron Condor trades. This may not be exactly what is thought here, but if you just allocate more capitol to the Iron Condor trade and just do the one trade every month it will still be worth it!

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tjlocke, I see exactly where you are coming from. I have no easy and simple solution, except for being patient and not to chase.

I just checked some of the recent discussion topics. All three GOOG trades, both AAPL trades, NFLX, CAT and BIDU many members posted fills better than mine. Many members also took some trades that I didn't take with great results. So I think it works both ways. Sometimes the stock will start running right after my alert and the trade will be priced higher. Sometimes the opposite will be true. I think over the long term, it levels out.

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Kim: My experience has been that it is easier to "beat" you on the exit than the entry. I have gotten some better fills, usually when there is an overall decline the next day after you open the position. But you have a pretty good nose for catching the best entry point of the day. I think you have more going on, though and don't/can't take the time to squeeze the last penny out of exit points. If I have the time and can pay close attention, that is mostly where I have "beat" the portfolio, on a few occasions.

Also, sometimes the forum makes it fairly clear what would be a good target entry point, and I will go for it. I usualy get my best entries that way. Other times it is not as clear and I am not sure where to start until the alert comes out. Then it can be hard to match, sometimes.

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You don't need to beat me. :) What matters is your performance not mine. If you are happy with it, this is what important.

I usually will indicate in advance what I consider a good entry point. As for exits, yes, I don't try to squeeze the last few cents (unless I know based on previous cycles that the price still has a potential to rise). Setting realistic profit targets and stick to them is the way to go.

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Kim,

May I suggest (request) that u kindly include in ur trade discussions posted before actual trading, (1) the maximum price u think one should pay for the trade and also (2) what the expected move will be up/down and (3) what ur own profit target is.

Of course we all know these figures will differ and will have personal preferences from one trader to the other, BUT it will help me, personally, a great deal to know exactly what u r planning. I do not have time to follow each trade so I plan on placing limit orders early in the morning before session opens and I would also like to place sell orders as soon as I get fills and try to mimic ur trades.

Thank u.

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Ammar,

I usually do post what I consider a fair price. I will try to get the trade as close to the price as possible. As for the expected move - how can we know it? Any move (of the underlying) is a bonus, in addition to the vega gain. My target profit is usually 10-15%, yours might be different. I usually place a sell limit order which is fairly aggressive (20-30%) and lower it at the last day.

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Thank u Kim.

So ur listed price will be the fair trading price with a few % points up or down as we see fit. The move is not the that of the underlying (which we should not worry about as we play non-directional) but I meant the expected trade price of the options play we will be targeting and u answered with 10-15% (target profit), very fair. I like the idea of aggressive limit orders initially, then lowering down as time passes. Thank u for the answers, this is what I wanted to know :-)

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Ammar,

I usually do post what I consider a fair price. I will try to get the trade as close to the price as possible. As for the expected move - how can we know it? Any move (of the underlying) is a bonus, in addition to the vega gain. My target profit is usually 10-15%, yours might be different. I usually place a sell limit order which is fairly aggressive (20-30%) and lower it at the last day.

Kim,

Are you still posting what you think would be a fair price for the strikes at the time? I know this is tough because the market moves all the time.

Also, to the people following this thread. I know Kim has to be super busy and there is only so much he can do. Perhaps we can start posting in this thread what we may feel is a good price on the stocks for next week, so we can set limit orders up in the early AM?

R

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I'm trying to. I also realize it might be easier to get better fills if you follow the price action (not always). There is no magical solution here - I'm just trying to get the best price I can, sometimes it works sometimes it doesn't. Many times I'm actually too conservative - look how many times members got in at higher price (that I was not ready to pay) and cashed in 1-2 days due to gamma gains (see ANF as the latest example).

There is a separate thread for each trade, no need to post here.

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Yes Kim you are going above and beyond to try to make this work for everyone. I commend you on a job well done. I gave you the highest marks on the ratings sites. I think some of us are just trying to find a systematic approach that works for us.

If I ever have the time I am going to test what happens if I just enter all trades as soon as they are ID'd, in the morning and sell them when a 10% profit is reached or I reach the day before the earnings announcement.

That would definitely be the way to go. If I can even product 3% ROI a month this way after commissions then I'd call it a huge win and be content.

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Hi Kim,

This is my first post. When placing that aggressive sell limit order, do you set it for all your shares, or for partial in case it continues to explode up? Same question for your 10 - 15 % profits, thanks!

 

Rob

Ammar,

I usually do post what I consider a fair price. I will try to get the trade as close to the price as possible. As for the expected move - how can we know it? Any move (of the underlying) is a bonus, in addition to the vega gain. My target profit is usually 10-15%, yours might be different. I usually place a sell limit order which is fairly aggressive (20-30%) and lower it at the last day.

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Hi Kim,

This is my first post. When placing that aggressive sell limit order, do you set it for all your shares, or for partial in case it continues to explode up? Same question for your 10 - 15 % profits, thanks!

 

Rob

Great question.

 

I think it's a matter of personal preference. If I think that it might go higher, I might sell only portion. Generally speaking, the longer the timeframe of the trades, the more it makes sense to scale in/out. For short term earnings trades, I usually sell everything, especially if I'm happy with the gain. It also depends on your commissions structure - if you pay separate fee per order, it makes less sense to split the orders.

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When to chase price?
 
I understand why one should NEVER chase price. I understand that getting the best fill price is key in determining the success of a trade. I know that chasing price can also bid up the price of an asset, especially in less liquid markets. However, there seems to be a bit of confusion for me once a trade has been established. (This mainly pertains to our calendar trades, although the problem does present itself in straddles to a lesser degree.)
 
Many times, SO will send out a trade alert and almost immediately, the price has been bid up. Kim always says NOT to chase price, and gives very good reasons as to why patience usually pays off - he's right. Like a good student, I have taken that advice when establishing an initial position and set LIMIT orders and waited patiently for a good fill. However, once a trade has been entered, being patient for a good fill on adjustments, or entering the second half, can destroy a trade. Kim often makes adjustments to trades very quickly, and those adjustments can get bid up almost instantly without ever retracing in price. I have found that digging my heels in for a similar fill will often leave me stuck in the initial position with NO adjustment. Some time will go by and Kim has already opened and closed multiple halves of a double calender while the original adjustment/second half is FAR from a reasonable price. Finally, Kim will close the position at a profit while I'm still trying to exit the initial position at a loss. The recent GOOG July trade is a good example. Kim, and much of the community, booked fantastic 40% gains, while I took a loss due to the fact that I didn't want to "chase price" when it came to adjustment or entering the second half.
 
I understand that the goal of SO is to make us all better traders and that no one should follow anyone blindly. This has been a fantastic service and I have grown tremendously as a trader. Calender spreads are still something I am trying to grasp and understand, so I do follow SO fairly closely to some degree. I know calendars have flexibility with strikes and duration, but when does one compromise on price? When does one chase price? Trade adjustments are crucial to the success of a trade, especially in fast moving markets. I assume that like anything, I must learn to balance these variables and use discretion as to when to settle for a less favorable fill in order to keep up with the trade. How have other traders grappled with this issue? I would imagine others have experienced this as well. To some degree it has to become more important to keep up with the trade, once you're in, than to just dig your heels in for the best fill.
 
Thoughts?
Edited by gavila22

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my basic understanding is that on average don't chase the price and follow the allocation rule at SO. but, you should selectively bet on something at lower allocation, say you usually trade 5000(10%) per position,then you can bet on some trade by 1000. In some case, low capitalization just does not work at all. What to chase when choose to chase? Easy to choose for me, Google, Netflix ,Amazon,... But be prepared to lose 50% in any chance.

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The best approach is once the discussion is open is to look at past trades decide what your targets are be proactive and learn what Kim has done what makes sense to you and establish your own parameters over time.

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I think that scaling into those calendars on different strikes is the best approach. This is basically what we do - what you call adjustment is really scaling. We are trying to spread the bets over different strikes AND in time. Many times prices will return to the levels I entered, or even lower. By scaling into the trades, you are basically averaging your entry price over time.

 

If you see that the prices are still significantly lower than previous cycles, you might consider to pay slightly higher than my entry price. But again, if you decide to pay more, I would buy only small percentage of the planned allocation.

 

Having multiple orders on several strikes is also an options. Sometimes you might end up with allocation higher than planned - that's fine as long as the entry prices are good. You can set limit prices to reduce the allocation if the prices spike.

 

Those trades require a lot of flexibility. Take the spread price into consideration as well. It's okay to pay 2-3 cent more on $3-4 spread, but doing it on $0.60 spread is not recommended.

 

The bottom line is that it takes patience and experience to master those strategies. But we do similar setups cycle after cycle, and over time you will find what works for you.

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I have been with the service for about 3 1/2 months.  When I started I had a number of potential areas of concern that relate to the reported performance statistics.  My answers below:

 

-Are Kim's fills real?

Yes.

 

-Does he have any advantage over the members in achieving fills?

Not in the usual sense.  Kim is trading from a retail platform (IB).  When some members exclaim that they can't expect to get Kim's fills, I don't know why that would be.  He's not doing anything mysterious or mystical.  I don't even think that experience plays that much into it.  If he gives notice that he's looking to enter a trade at a specific price (he frequently gives this "pre-alert), and then he gets filled from a limit order, if anything that speaks to the trade execution at IB (I will address this later).  Basically what I'm saying is, if Kim was trading from the institutional desk at Goldman, and then posting his fills that seemed unattainable, that would be an example of an advantage that the members couldn't hope to replicate.

 

Now on the other hand if members generally wait for the trade alert to come through and then place a trade (both on entry and exit) then they will be competing with each other.  For high liquidity names like AAPL, that's not an issue.  But as members we don't really know how many other members there are and what size they trade in (Kim would have a better idea).  So it's fair to consider that increased demand from the service alert itself could be pushing prices.  I think it's advised to try different strikes to help mitigate this, but realistically if there's a demand surge at one strike, it effects all others.  Market makers (ie, a computer algo) will ensure this.

 

Long story short, if I am trading from the same platform as Kim, and I place trades strictly from his Trade alerts, over time I would expect to get better fills 50% of the time, and worse fills 50% of the time (assuming you don't wait too long to enter/exit).  If that's not the case then the dynamic I explained in the prior paragraph could be part of the issue.

 

-How much does the broker matter?

 

A ton, from what I can tell.  My overall observation from my time here is that seemingly slight differences can matter a lot.  Imagine going to a driving range to watch two people hit golf balls.  One is on the PGA Tour, and ranked in the top 100 in the world.  The other is a professional at a prestigious club.  If you watch them hit balls most people could hardly notice a difference.  But one makes $200k/yr and the other makes $2M/yr.  

 

I use TOS (for the moment) and my general feeling is that I'm always battling to get fills that just seem to come easier to those on IB.  And then the commissions issue is a no-brainer (I planned on trying SO and then switching to IB after a while).

 

-How is my performance?

 

Quite good.  Since I joined in late July, I'm up about $4,000 (before commissions), while allocating $1,000-$1,500 per trade (so at any given time my capital at risk was probably $8k max).  I missed some trades, and also did a fair amount of my own on SPX (butterflys and cals) and VIX.  In the past month my performance on the earnings trades have not been great, just a bit over break-even.  Admittedly though, I have not been that proactive in getting into trades earlier, doing my own research, etc.  My job and family life have been very busy.

 

Hope this helps.

Edited by verbotenstylen

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Thank you verbotensylen. I would like to comment on one specific issue which repeats itself:

 

"Now on the other hand if members generally wait for the trade alert to come through and then place a trade (both on entry and exit) then they will be competing with each other.  For high liquidity names like AAPL, that's not an issue.  But as members we don't really know how many other members there are and what size they trade in (Kim would have a better idea).  So it's fair to consider that increased demand from the service alert itself could be pushing prices.  I think it's advised to try different strikes to help mitigate this, but realistically if there's a demand surge at one strike, it effects all others.  Market makers (ie, a computer algo) will ensure this."

 

Take our latest HD trade as an example - https://steadyoptions.com/forum/topic/2950-trades-hd-november-2015-straddle/

 

The trade alert came on 11:14. I was filed at 4.13. Now it is 13:30 and the mid is 4.12.

 

post-1-0-53180700-1447353067_thumb.png

 

And here is the volume:

 

post-1-0-63474700-1447353123_thumb.png

 

So while it is slightly higher than most other strikes, it is not high enough to cause any significant changes in IV. And while HD is liquid enough, this is not AAPL or SPY.

 

The issue is here very simple: I'm just watching the price range of the spreads and do backtesting, and set my entry target based on those parameters. So many times (not always obviously) I buy at the low price of the range, and sometimes window of opportunity might be short. But as mentioned, I always mention my entry targets in advance, as I did with HD, and members who wish to use this info and place advance limit orders can always do it. If you wait to my alert, sometimes you might miss that window, in other cases you might get better prices few hours later.

 

Hope this helps. And making 4k on 8k on risk is 50% return in 3 months, even after missing some trades. Not bad I would say.. Covers 3 years of subscription fee.

 

 

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Calendars do have some room, but only to some degree. 85 strike is 15% from the current price which is just too far. 

 

As for following positions - I guess it's matter of personal choice, but I found out that most successful members at some point start to be proactive rather than reactive and enter trades based on our discussions and previous cycles. Since prices change, it is difficult to follow exactly what I'm doing AFTER THE FACT. But if you scale into positions (some before I enter, some after), you will do better AND learn in the process as well. There is nothing magical in the strikes or prices I enter. There is a big selection especially for higher priced stocks like AMZN, and if I have 725/745, you can enter any strike in this price range, or even 3-5 strikes. 

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21 minutes ago, SteadyOptions said:

Calendars do have some room, but only to some degree. 85 strike is 15% from the current price which is just too far. 

 

As for following positions - I guess it's matter of personal choice, but I found out that most successful members at some point start to be proactive rather than reactive and enter trades based on our discussions and previous cycles. Since prices change, it is difficult to follow exactly what I'm doing AFTER THE FACT. But if you scale into positions (some before I enter, some after), you will do better AND learn in the process as well. There is nothing magical in the strikes or prices I enter. There is a big selection especially for higher priced stocks like AMZN, and if I have 725/745, you can enter any strike in this price range, or even 3-5 strikes. 

Just wanted to expand on this from a users prospective. This is only what I do. I'm sure many traders here us different methods.

 

When Kim opens a discussion on the trade, he usually states he's looking to fill  " between X to X price and not pay more than X at this time". He will also say "I will look to enter in X amount of days". After the discussion is opened I go into TOS (where I track prices) and IB (where I actually make my trades). If we're trading a calendar where the stock price is 100, I will enter in the calendars at 85, 90, 95, 100, 105, 110, 115. At this point I am still just tracking prices.

 

The closer will get to the day Kim says he will  be entering, you can start "fishing". If the stock is still trading at 100, I might put in orders at 95, 100, 105 and see if I "get" anything. Say I pick up 1 of each, and Kim announces his trade that he has 95,100 calendar. I'm still not in bad shape. I'm still in the range that we are looking for, and as Kim says "all strikes in the range SHOULD perform the same way." Even if I'm not fully filled on the position, I still monitor prices in the range hoping to pick up more.

 

Like I said, just throwing this out there from a users perspective.

 

 

Edited by craigsmith
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Normally I would not post this, but in light of some posts of some members the last days I felt I have to write this:

When I subscribed to SO, now almost 2 years ago, I realized already in the first week

that Kim’s work is exceptional. But at the same time I realized that all the information

and the knowledge Kim and the members provide us can only be of value (at least for me) if one does his proper homework. In the first week I learned from other more experienced members how essential it is that you note as much as possible for every trade you do (if you want to be successful).

I personally think that if you don’t want to put in the work, don’t bother.

By following Kim blindly you’ll make in a good year maybe 20, 30% maybe 40% a year (after comm), but if you do your homework you’ll make much much more.

And believe me if for instance a member like Yowster posts a list of candidates of calendars to hold thru earnings, he did put in A LOT of work and research.

 

I get that at first when you learn to ride the bicycle you want to have training wheels.

But some day (and rather sooner than later), whether you want to or not you have to take

off the training wheels.

One cannot expect to ride a tandem bicycle forever with Kim doing all the work.

It simply doesn’t work like this.

 

After my first few months I was down 15% on my account, because I was blindly following Kim. Then I realized that I could ONLY blame myself. My risk profile is different from Kims and I would have done some trades differently and I decided to do so.

From then on I started to learn much faster. Because when a trade went south I had only to look in the mirror.

Today I do a lot of the official trades not, for instance I did 2 RIC’s in January but then decided to no longer do them. I didn’t like the odds.

For Bfly I allocate only 1%.  (If you have a smaller account

 you can start with SPY (I know comm will be 10x higher, but this is far better than a 100% loss).

These are things you have to decide yourself, simply because it is your money, but also your responsibility.

Again Kim can teach you how to ride the bicycle, but some day the training wheels have to come off.

 

What I don’t get is that some members seemingly fail to see/ understand that it is essential

that we give Kim the time to do what he is best at.

I for sure did not subscribe to have Kim update posts with information we

can easily find out our self.

 

 

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With 30% overnight profits in TSLA/PCLN after 30% profits in  NFLX/FB/AMZN/GOOG.  I am delighted to say that my entire portfolio is up 60% in just 1 month after BREXIT trade.

This is as good as it gets in trading.

I just thank Kim and  entire community. 

I joined in 2013 and  since then whenever I deviated from our core strategy, I have failed.  And whenever I have come back , I have succeeded.

There is nothing better than this strategy.  

With 0 risk, with 0 stock movement, you make 30% in few hours. Where else can you find something like this. 

In 2014 december , I had tasted first success with 30% returns using straddles alone. Later in 2015 I had tasted 30% returns during october  earnings calendar. 

After that it is july 2016 which cranked out the biggest returns to my portfolio.

I will take off for few weeks to enjoy the money and vacation  and  come back.

Learning wise, It took me long / long time to understand what it takes to succeed in this business and how to succeed. 

I had good and bad times, but what made me succeed is  Kim's saying " The trick is to go sideways in between huge profits" and " Never have a big looser in your portfolio". Small loosers are fine and part of trading, but big looser, never ever have. 

I thank Yowster for wonderful vxx diagonal strategy, which is very innovative way of thinking. 

I feel very lucky to be part of this wonderful vibrant community and being among what I would say the best options traders. 

 

 

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@Kim,  @Yowster, @SBatch I was wondering how much you use contingent orders in your trading. And if you do use these, do you set them as GTC orders for the entry?

 

What I would like to achieve is to be able to do all my trade discovery/analysis in the evenings and then place contingent trades for the prices I want to achieve during market open.

 

Any suggestions on how I can reduce trade creation, order placing and monitoring during market hours would be greatly appreciated.

 

 

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