skymuse
14 posts
msg #82471
- Ignore skymuse |
11/5/2009 9:04:10 AM
I suggest extreme caution if you're going to follow M4M. I have done so 3 straight times -- completely lost once and am currently way down on 2 others; I expect them to expire worthless as well since they're so far down. You'd better have a better head with options than I do if you're going to roll these particular dice.
I'm obviously not getting something in this process, and the spoilage date on options is a big problem if you don't get it right. I did exactly what M4M said to do and am out a fair amount.
This isn't a "feel bad for me" post -- I've been an idiot who let someone else plan my trades and it's proof that you should not do that. I was doing fine at losing money myself, but with M4M's recommendations, I can now lose it 500% faster......no thanks!
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Kevin_in_GA
4,599 posts
msg #82474
- Ignore Kevin_in_GA |
11/5/2009 9:23:03 AM
Sorry to hear that, skymuse.
I would pay attention to M4M's strategies rather than his stock selections and timing. His information sources are pretty good (optionpain, Schaeffer research, optionsmash), but you are better off making your own calls on the data.
At some point I might pull together a "M4M Manifesto" of things he has suggested that seem to work - not specific calls or timings, as these are already out-of-date and generally questioned as to their authenticity.
Also remember that he is posting a lot of paper trading stuff from wallstreet survivor, where I'm sure he is more risk tolerant than trading with his won money. The worst he can do there is not win a 500 dollar prize.
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karennma
8,057 posts
msg #82475
- Ignore karennma |
11/5/2009 9:50:08 AM
Campbell:
FSLR did go UP $2.25 yesterday, so I WAS ahead ... until I re-entered the trade.
Ugh!
However, your idea about using me as an "inverse" indicator is not a bad one.
In fact, John Paulca came up with the idea first.
LOL!
Skymuse:
Re: "following" M4M ....
Best thing to do is read, observe, then develop your own system.
It's not good to "copy" someone else's trades because THEIR loss, can become your loss.
Suppose they don't post when they got OUT of the trade. Then, you're still in it .. LOSING!
Use the boards for learning.
Eventually, you'll develop your own system.
:>)
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