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Found 2 results

  1. Kim

    SteadyOptions Hall of Fame

    Over the years, I've seen a few disgruntled members where they've posted similar comments, but they all seem to share the same trait - they expect fills at the same price as the official trades AND be able to enter right around the same time as the official. It's the second part of that that is the real kicker and the reason we say to be patient with fills, especially with trades where T-0 is a few weeks away - and why we started tagging things with [BETTER PRICING] on both entry and exit to show how often that happens. I like to use another stock analogy for this matching of official pricing - when an analyst issues a stock upgrade causing the stock price to rise, is everyone going to be able to react to the upgrade and buy the stock at the same price? Of course not, and I don't think anyone would expect that to be the case, but with these option trades some people get very upset when the can't match prices. I understand that the amount of time members can spend on trading and trade analysis varies greatly. Many people have other jobs that require significant time away from trading (I was in that same boat for many years). But if your goal is to treat SO purely as an alert service then there is a much greater chance that you may be disappointed. As had been said many times by many members - those who get the most out of SO are those that learn the trades and make them their own by applying the techniques to their own personal trades. I thought it might be beneficial to say how I handle entry into official calendar trades. As Kim has mentioned, although we talk about some trades in advance, for the majority of both our official trades we enter them without specifically notifying each other in advance - so with the calendar trades I am in the same boat as everyone else: I find that I rarely enter calendar trades on the same days as the official. I do keep track of planned trades and target entry dates, so sometimes I'll already be in the trade prior to the official, but in most cases I enter later. Calendar entry is based on either RV well below average to enter early, or time based when the RV hits the inflection date for the slope of the RV rise starting to increase. Ideally you can find trades with both, but especially in times when we are seeing some bigger market move days, my preference is to enter when the daily RV increase is greatest (so the trade can show gains quicker). If I do enter early at RV well below average, I'm more prone to exit at an smaller gain and then look to re-enter if RV drops back down or when the RV chart is in the time period of bigger daily increase. @Yowster
  2. Kim

    Not making money yet

    We had quite a few topics discussing similar issues. Here are couple topics I recommend reading: Best Practices/Tools Last 2 months Performance (your topic actually where you got some very advice). To address your points: 1) We recently started tracking trades where members could get a [BETTER PRICING] than the official trade, on entry, exit or both. Please take a look at this list - this is from the last few weeks alone and not a full list. 2) As I mentioned on several occasions, I believe that looking at SO subscription cost (or the cost of any tool or course) as percentage of your account is a mistake. You invest in your trading education. You invest in your future. You expect that what you learn will help you to improve your trading and your profitability going forward. In the same way as people who pay $5-10k for educational course or mentoring program don't expect an immediate return on their investment. 3) This is related to 2) I'm sure nobody expects to become proficient in any area in life in 4 months (engineering takes 4 years to study). It's a process that takes years not months. In no way I'm comparing SO to what is offered at University, I'm just comparing the time it takes to become proficient in any area. 4) Yes, it is difficult and it takes time. If it wasn't, millions of people would become very rich very quickly. But again, why would it be different from any other area in life? To answer your question more specifically: I don't think you doing anything wrong. Just give it more time, and don't forget that those are very challenging and uncertain times, and even much more experienced traders struggle (just to remind you that July was our first losing month since last June). Add some inevitable mistakes you will make trading new strategies (this is why we recommend starting with paper trading) - and here is your answer