Jan,
>> I would have realized the $20K Amzn gain in a New York second if I had them.
<<
But I was trying to make $100k ! Anyway, I am done with gambling on this. I actually managed to restore the account that I was most worried about. So no need for big risks, anymore. Now to the slow, and hopefully steady approach.
I started a small box position for amzn. I have it spread in three accounts. One strictly long, one strictly short, and the third for whatever seems more favored at the moment.
I am now 100 long, 200 short, and 100 short.
Actually I tried a trade that way already. I bought 200 long in the long account at 133. As soon as it filled I placed a limit order to sell at 134. When the sell filled in about 5 minutes, I placed a buy of 100 at 133, which also filled just before the close. So Monday I have some long shares and some short to trade if we have a gap up or down.
I separated the accounts so I can see which approach is succeeding and which is failing. Hopefully, something will work. I believe this approach will work best in a trading range, which it seems amzn has entered. Now the key is to recognize when amzn is in a trading range versus a trend.
If my understanding of all the TA-type posts is correct, we should see several round trips between 120 and 140 in the next few days.
What do you think? |
