EL TRADES OPTIONS

This blog will show my longer term Swing trades using OPTIONS. I use specific income producing option strategies with a DIRECTIONAL BIAS. Having a directional bias is critical in earning more, even from what are generally called income trades such as butterflies and condors. The aim of my strategies is to give me more than a 66% edge and to provide a greater than 80% win rate within that edge. The blog shows you the trades I make and how I manage them. For my directional bias, I use the same EL methodology as I employ in my day trading that you have seen for years in the original ElectronicLocal blog. Read the disclaimer.

Monday, July 30, 2012

Out of SPX

I took my profit on the SPX. See the pic. I'd been in the trade long enough and I took a 6% profit and re-invested my margin in another trade. By the close the trade would have been down. My profit taking was more good luck than good management,  or maybe I saw something that I didn't know I was seeing. Anyway, if a trade is making a reasonable profit and looks like stalling then it's better to grab the profit than give it back.


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