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Technology Stocks : Ascend (ASND) descending?
ASND 228.54+5.4%Jan 22 3:59 PM EST
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To: damniseedemons who wrote (21)4/30/1996 9:40:00 AM
From: morry low   of 313
 
Options and money management

To play options, you must understand the basic concepts. It is hard to play into any game whether for money or other wise unless you know the rules of the game.

Questions:

1. What is my the goal. (Profit or TAX LOSSES!)
2. Do I understand the guides lines or just trying to shoot in the dark.
3. Do I have a proven system or someone’s "maybe".
4. Do I know when to exit a trade.
5. What stops have I made. Written down?
6. Do I know when to "FIX" a bad trade. Alternatives?
7. How much time is left? (options are a wasting vehicle)
8. Do I take a break from all this "madness?"

Answers:

1. The first and "ONLY" goal should be to earn a profit! Remember, the rule "Preservation of principal". Do not loose it!
2. Read everything you can, but do not believe everyone or everything.
3. Paper trade, (not for real) until you get it right.
4. Set established exit points, partial and total exits. (ex. 25%, 50%, 100% etc.)
5. Be always ready for the worse, Set stops!!!!!!
6. Make spreads, (credit and debit) Sell calls, short the same stock as your options if you are long (calls).
7. The option models are calculated for 6 months out. Is yours coming due?
8. Going crazy!?? Can stand the heat, then take a break. Your family comes first!!!

Do not let your ego get in the way…
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