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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (80891)	7/26/2001 12:53:56 AM
From: mishedlo	Read Replies (2) \| Respond to of 99985

Bobby, I might add it is VERY VERY easy to get carried away with a few early successes. Next thing you know is that you have increase your lot size and then you lose your ass. (made a ton/lost a ton myself) 10-15% in options and rest cash will keep you sane and prevent disaster. Oddly enough I am doing better now that my positions are smaller. It is not easy to think clearly when a huge trade in options goes against you. Best advice is wait for a trend. Right now it is pretty clear that the trend is down, after 1 1/2 months of sideways. Still it pays to take profits when offered on any reasonable sized position. Had two small runs today on QQQ puts and was lucky enough to sell and go flat at noon. Was hoping for a bounce and got lucky again. Looking to reload in the AM. Take profits and do not look back. M