Enter the order with price in the mid point between ask price and bid price. If the order is not successful, then cancel the order and put in a new order with new price equal to + or - .02 from previous price.
Usually, yes though sometimes I put it closer to the bid in case I think it might fall. If I really want a higher chance to get into the option, I put it closer to the ask.
Is there any other way to communicate buys or sells? The minutes between a decision, post, and execution can cost. Just wondering if there is a more efficient way to communicate the timing. Still made about 8% on this trade, but could have done 11-12 as Greg did but was waiting for the signal to sell and lost out as time passed. Ideas from anyone on other methods of communication? Maybe this is just as fast as we can make it.
Yep, good idea. Only problem with that is I'd say 10% is the long profit number it seems for Greg. Lots of closes are like 4-6%. So solves one problem, but skews others. Will have to think about it or simply make my own goal per trade and make my close price regardless of Greg. Hate to do that, but each of have to make our own decisions here. Thanks for posting.
Getting more and more real world implications of CASHLESS here and now. Walmart would not take cash today. Not even exact change. BJ's will accept, but spoke to a manager and said expecting to change to DEBIT/CREDIT only VERY SOON and only exact change now. Look these places are the "testing grounds" for this shit. That means one thing, all digital specific companies for purchases, such as VISA, MC, PAYPAL, etc should, IMO, be ready to go up. The "big announcement" from the FED will more than likely be that they are now going to COST AVERAGE "inflation" as opposed to aim for 2% AVG. Maybe hints at digital, but I doubt they'll say it just yet.
That means they expect inflation NOW and that right soon, plus the removal of CASH from large corporations will only FORCE people into banks, debit, debt. Terrible, horrible bull shit thing....BUT, from a trading perspective, maybe something to look at.
Hi Lions, 2 questions: do you guys sell with market or limit? second, how do you calculate your gains? sorry, very new to this!
Never use market order.
Enter the order with price in the mid point between ask price and bid price. If the order is not successful, then cancel the order and put in a new order with new price equal to + or - .02 from previous price.
profit = closing price / bought price x 100%
Always limit. You tend to get fleeced badly if you use a market order.
I learned that today!
Thank you for your answer JR, you put the limit between the bid and ask price?
Usually, yes though sometimes I put it closer to the bid in case I think it might fall. If I really want a higher chance to get into the option, I put it closer to the ask.
Is there any other way to communicate buys or sells? The minutes between a decision, post, and execution can cost. Just wondering if there is a more efficient way to communicate the timing. Still made about 8% on this trade, but could have done 11-12 as Greg did but was waiting for the signal to sell and lost out as time passed. Ideas from anyone on other methods of communication? Maybe this is just as fast as we can make it.
After you have bought the order, immediately put in a Good Till Cancel closing order for 10% profit.
Yep, good idea. Only problem with that is I'd say 10% is the long profit number it seems for Greg. Lots of closes are like 4-6%. So solves one problem, but skews others. Will have to think about it or simply make my own goal per trade and make my close price regardless of Greg. Hate to do that, but each of have to make our own decisions here. Thanks for posting.
Take a few options, stagger profit level, 4, 5, 10% if you can do a few options. Just an idea, have not tried
Out at 5.5%. Should have bought more options, but we are pretty spread out. plus I'm hammered on GLD/ SLV cause i got too greedy.
Anyone looking at V, MA, or PYPL?
Getting more and more real world implications of CASHLESS here and now. Walmart would not take cash today. Not even exact change. BJ's will accept, but spoke to a manager and said expecting to change to DEBIT/CREDIT only VERY SOON and only exact change now. Look these places are the "testing grounds" for this shit. That means one thing, all digital specific companies for purchases, such as VISA, MC, PAYPAL, etc should, IMO, be ready to go up. The "big announcement" from the FED will more than likely be that they are now going to COST AVERAGE "inflation" as opposed to aim for 2% AVG. Maybe hints at digital, but I doubt they'll say it just yet.
That means they expect inflation NOW and that right soon, plus the removal of CASH from large corporations will only FORCE people into banks, debit, debt. Terrible, horrible bull shit thing....BUT, from a trading perspective, maybe something to look at.
Good thinking, keeping an eye on those, plus Greg always trading V & Paypal
Thank you Gregory! It was nice doing this trade.
I wish he'd use Telegram....it's free and doesn't have all the ads/crap/censoring that Twitter does.