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Et tu NQ: Trading the Nasdaq e-mini
Started:May 29th, 2011 (05:35 PM) by Bermudan Option Views / Replies:5,785 / 87
Last Reply:April 25th, 2012 (10:55 PM) Attachments:0

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Et tu NQ: Trading the Nasdaq e-mini

Old March 1st, 2012, 02:45 PM   #41 (permalink)
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Have another new job. This one lets me do what I please if there is no work to do. I am using this time to paper trade options. I believe that I can trade futures but my trading strategy works best if I can put on trades, set stop losses, and move onto the next chart. With futures, I was only trading the /NQ and forcing a lot of trades that weren't optimal.

Once I double my account, I will go live. Money Management is key

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Last edited by Bermudan Option; March 1st, 2012 at 03:25 PM.
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Old March 9th, 2012, 03:26 PM   #42 (permalink)
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Going 'live' with my paper trading this week. Using optionsXpress because they have the best web based option simulator imo. Their site forces you to create a trading account in order to use it, but I have an old link that allows you to use the simulator without funding an account. PM me if interested.

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Also, another sweet thing is that they allow you to set your starting capital. I will have $4,000 when I start IRL so I will papertrade with the same amount.

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Old March 12th, 2012, 11:50 AM   #43 (permalink)
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Bought 4 March38 Puts (guessing the stock will go lower) on JCP @ 0.71. The retail sector has been the market new leader but JCP is a laggard. I will have to lock in profits as I go if the retail sector continues to move higher because that would make JCP prone for a bounce higher.

On the Daily, this area has been low volume and only one big up day cleared this area. To me, it is the equivalent of a gap higher and so it should drift beyond this point with little/no support showing up. Looking for it to head to the 36/35 pps level.

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Regarding my entry today, I entered on a test of a trendline on the 10m timeframe starting at 11am on Thursday last week:

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I have an automatic stop in place where the options will be sold if the stock heads above 37.93. I got stopped out on a relief rally earlier today so I am in the whole about $80 after commission at the moment


Last edited by Bermudan Option; March 12th, 2012 at 11:55 AM.
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Old March 13th, 2012, 11:21 AM   #44 (permalink)
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The trend is still lower for JCP. The trendline is being encroached upon but that means that I will look at price horizontally and look for a break of regular resistance as the stock trends sideways. Even though the trendline is on the verge of breaking, the stock can still consolidate through time before heading lower.

However I ended up buying the front month options (options that expire this month) when I thought I had purchased the back month options (options that are two expiration periods away). That means that the options are losing extrinsic value at a rapid rate so i want to sell these ASAP because I cannot afford to let the play develop like I should

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Old March 14th, 2012, 09:52 AM   #45 (permalink)
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Got the move I anticipated but managed to lose money...
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Was in a rush to get out of my front month options and exited prematurely because I don't have real-time volume at work. Also, bought the proper options too late and sold for a loss. Ended up taking a loss due to inflated volatility after the strong move lower. Still, got the call right and next time I won't make the same mistake.

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Last edited by Bermudan Option; March 14th, 2012 at 10:08 AM.
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Old March 14th, 2012, 09:43 PM   #46 (permalink)
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Alright. Some more DD on hump day:

ARO – bullish on this. Looking for a bounce off the trendline on the 30 m timeframe for a potential entry
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BKS – Bearish on the stock. Looking to go short on a retest of the high (or anything near $14.5), or a breakdown of the current support at $14.
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and a zoomed in pic to break it down the distribution better:
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KMX – bullish on this one. Strong uptrend on the daily and looks to be breaking through the top of a channel, ready to head into higher highs. On the 30m timeframe, it gives a nice trendline that can be used for a potential entry. Potential stop under 34.10 because that would suggest a lower low on the shorter timeframes. I can enter on a pullback there or a pullback to the 34 level
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Old March 15th, 2012, 10:42 AM   #47 (permalink)
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Grabbed 4 KMX April 34 calls @ 1.50 when the stock tested the $34.10 range like I had hoped. Looking good so far today. Contigent stop in place if the stock sells off below 34.05 though

BKS is breaking down like I hoped, spread was too wide tho and I tried to split it and got left behind. Ah well

ARO ran early in the morning and I haven't been looking at it since. Kinda pulling back but I want even more before I enter

JCP. Not on my radar but I know it can move lower before stopping so I will take a look at its chart again when I get some time

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Old March 15th, 2012, 11:51 AM   #48 (permalink)
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Just went long 6 April 36 puts for JCP on a retest of the current HOD around the 36.85 area.

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Old March 15th, 2012, 12:05 PM   #49 (permalink)
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here is what I am working with intraday:

KMX
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JCP:
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Oh yeah, and my bad about all of the random different charts. At work, I can only use free browser based brokers for live feeds. No damn volume unless it is delayed 15m tho

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Old March 16th, 2012, 10:38 AM   #50 (permalink)
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JCP rallied into the close last night. Made me a little nervous coz that is generally a bullish sign but so far so good today:
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As for KMX. It is showing weakness with the rest of the market but is still holding its own.
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