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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?! -- Ignore unavailable to you. Want to Upgrade?

To: J. P. who wrote (79)	1/17/1999 2:53:00 PM
From: SpongeBrain	Read Replies (5) \| Respond to of 611

Options: Losing everything you own?!?! Please explain. Can you be more specific? Can this happen only if youre writing options? If youre simply buying calls or puts, you can only lose the money you put up but no more, is that right?

To: J. P. who wrote (79)	1/17/1999 3:01:00 PM
From: kaydee	Respond to of 611

Off Topic : JP, one more good post;; One hard lesson I have learnt from Options... It is well known fact that stocks open much higher at 9-30,,, I see a very good quote on a CALL option at 9-31 AM and I put a sell order; By the time they open the CALL option on rotation basis, it is already 9-50 AM or later;; and all the advantages of a higher stock price (and higher CALL option price also) are lost, as by then the stock is down a few percentage points from its day's high...MMs open it at their convenience;; I agree with JP totally, getting execution itself is a problem in the first 1-30 minutes in the morning... DB PS : Rotation basis = They start one option after other,, with option close to the current price/month first, I guess??

To: J. P. who wrote (79)	1/17/1999 3:10:00 PM
From: jttmab	Respond to of 611

J.P., Quit sugar-coating it for the thread. It's a lot worse than that! Regards, Jim

To: J. P. who wrote (79)	1/17/1999 3:32:00 PM
From: AnnaInVA	Read Replies (1) \| Respond to of 611

Also it requires you have a mastery of your own emotions, and that you have b*lls of titanium. Missing just one of these items will cause you to fail, and the options traders will take everything from you and your children. << and just think what could happen if you were a girl !!! ;) anna

To: J. P. who wrote (79)	1/17/1999 5:39:00 PM
From: speedbird	Read Replies (1) \| Respond to of 611

Blls of Titanium :~) In my short 8 months of day trading I believe " blls of Titanium" do seem to help. Plenty of times I been thinking oh oh, I'm going down on this stock - and simultaneously - well I am sure it will rebound, I am not taking his loss. It is very difficult as we all know further losses can happen very fast. It seems the ones who keep there heads cool will make more than the persons prone to rapidly sell as soon as Nasdaq opens at -60 or more. In fact when Nasdaq opens at around -100 like one day last week, one should buy not sell as I found out.