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E-Book Published On Daily Options Strategy 121 comments
It is a long, extremely detailed book. I appreciate everyone who has read my articles and who has enjoyed the strategy. The price is only $9.99 and worth every penny. Any reviews would be much appreciated. Thank you all again.
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This post has 121 comments:
This is awesome! I just bought the e-book and will be reading it this weekend! Thanks for all your great work.
Jonathan
SOLD - Thank you for all you do. Just downloaded your book and look forward to a great read.
John
I have recommended your E-book to anyone that will listen (and will continue to do so). I've learned more from you in a few short weeks from reading and reviewing your articles and answers to inquiries than all of the last few years from all sources I could get my hands on including a dozen or so books. The explanations of your strategy are clear and concise and have caused me to recognize many aspects of options trading I previously somehow "missed" or did not understand.
I do not yet own a Kindle, but have the Kindle App on my iPhone, desktop PC and a laptop PC - your book is always at hand and synced across all platforms.
Thank you also to those who comment and question here on SeekingAlpha.com - these lessons you help to create are a great way to enhance understanding of the subject for the rest of us.
I use the TOS platform and have tuned it to the parameters outlined in your book (with a tweak here and there) and I am very happy with the results.
When do we see the next book Kevin? I suspect you've been working on it for some time...
John
How many pages does it have?
Look forward to the read! How soon can we expect it on LULU?
thanks
Just bought it since I am an ardent follower of your articles and trades and showing my support for your efforts to share your successful option strategies
Just bought the book and I am looking forward to reading it. I also have read all your articles (and threads) and found them very valuable. I have some questions though which I submitted the thread at the bottom of article, but that may not have been read since it is an older article. Should I resubmit them here, or email you? Please advise.
Great work on your ideas here. I'm sure the book will be even more useful. Thanks.
I purchased your book and have followed you for a while. I consider your advice to be more than valuable. However I did have a question.
Say hypothetically speaking that your strategy becomes ultra successful in a couple of years. As in, an enormous amount of people start using it, with millions of dollars being poured into the same stocks/options day in and day out. I don't want this to sound like a stupid question, but do you foresee the strategy being impacted to the point where it might possibly not work anymore, due to the large amount of people following the same criteria?
Bought the book. Right now do not have much money to start using the strategy. But I will paper trade it. One day when I will have enough savings I will start, mean while the learning never stops.
I have loved your articles, now every thing would be in the book.
Thanks a million.
Thanks.
Steve
Bought the book for my Kindle with the profits I made just yesterday from reading the 5 articles. I get a good feeling doing it that way :) Thanks for taking the time to write the book. If this 69 yr old fart can make money with just your articles, I know anyone can. Thanks
Thanks for the ebook...read it in one day! You mentioned that you only execute 1-2 trades a day, so you don't have to be glued to your computer screen; but I find that I'm looking frequently at all the stocks all day so as not to miss a potential trade. Do you have any practical tips for watching the charts? Does this ease up with experience? Thanks.
I read the book and noticed you always place limit order midway between bid and ask: I have tried buying at marketing price and limit. I saw CRM and CF had perfect dips almost at the same time, immediately I placed limit buy for cf (more comfortable with cf than CRM) at $9.4 (a bit lower than asking of $9.5); however cf took off within a minute or two, so the order was not executed. I found there is almost no time once identifying a solid dip if I place limit order. Have you had this issue before? I have only started using your strategy last week, succeeded almost every time using market.
Thanks!
Thanks!
The question is: can 5 indicators strategy be used for rebound much later?
Also, when I use candle stick bar instead of line, is it still valid seeing a solid green bar cross down the bottom bollinger band, vs. red bar crossing, I saw scenarios that deeper longer green bar follows red bar, such as 12:10 est for bidu today.
There are a lot of possible ways to use this strategy, even when buying strangles or straddles by legging in. With the candle chart, what I find, besides the possibility of looking like it may be hitting a band when it is not, that the focus becomes too much on the green and reds while the other indicators take a backseat.
Just executed my first trade! CRM Feb 125 puts. Got in at $10.50 when bid was $10.40, ask was $10.55. Liked the indicators at 10:40, finally executed at 10:45 after fumbling around on my broker's website. I put an immediate sell at $11.10. As my account is super small (less than $1,200), I only bought 1 contract. What do you think so far? Thanks!
Follow up on my last comment...looking at the chart, it seems it would have been best if I had sold at 11:04, yet my $0.60 increase hadn't hit. Now it seems like CRM is trading in a range. Would you wait it out...maybe until 3:00? Or would you look for some other technical indicator to sell? Thanks!
When you set a sale price, are you looking for a certain profit %? I know you recommend $0.60 - $1.00 increase, but it seems like the option prices vary a lot. What do you think of a profit percentage guideline? Thanks again!
GOOG at 11:50 - 11:52 looked like a good trade (price around $581). I didn't execute it because I didn't have any buying power left. Yet since then I've noticed the price keeps falling. What's your take? Thanks for your responses, and sorry for so many comments. Frankly, I'm just tired of losing money in the market. :)
HELP!! Since my 12:01 post I've watched CRM climb basically all day. Not sure what to do as we approach 3:00! I've already lost over 5% on this trade. Can you tell me what went wrong? Should I have done something different? Thanks again.
I just did my first trade on OptionXpress this morning and made $425. (could have made $1200 if..., I know I should not say that). I saw this solid dip on cf right before 10:30 PST (1:30 EST), pulled trigger with limit buy price of $9.95, almost simultaneously, I placed a sell order for $10.55, cf took small nose dive after, good thing is OptionXpress filled my $9.55 order with $9.74, even the bid price went to $9.6 and lingered for quite a while (30 minutes), when it started climbing, it was beginning with very painful, hesitant pace, by the time it reaches $10.10 (bid) I almost wanted to sell but didn't. Just when all 5 indicators are well climbing well above threshold, option price took decisive lift, topping $10.45 before I knew it, my order was filled with $425 profit. I was happy.
Only 20 minutes later, cf shot a hocky stick curve, went well above $171, with $165 feb call priced at $10.85; would have been another $500 profit, total close to $1k.
This whole climbing out of bottom process took over 1 hour to happen. There are so many factors affecting whether cf could again does this in the future, leaving us on the upper range of $0.6 to $1 per contract? I noticed before the bottom, cf already lost 2.2% previous day, and it would be the third straight day with loss, so the come back should happen. However, do notice: that cf has advanced 15% since Jan. 1, which might justify a small pull back.
Finally, hats off to Kevin: I wonder if you have done lots of statistic analysis on the optimal call price gain range of $0.6 to $1 using this strategy? As accurate as it has been for me, it bears lots of solid research. I would love to learn from that as well.
Thanks again (still bitching about that $500, no, I am just kidding)
Final update...sold CF for $9.75 at 3:11 for a 7% loss. I know I have a lot of posts...but today was frustrating. Should I have waiting longer? I was afraid to go too far into the last hour of the day, and even more afraid to hold until tomorrow. I'm sure you're busy; but if you could, please shed some light on my situation. Thanks.
To risk 87.5% of your account on one trade is reckless. Practice first with virtual or paper trading. Add capital to your account. If you aren't able to do this, then stick to investing rather than trading.
I hope this helps, and I wish you all the best.
NVC
Thanks for taking the time to respond to my posts. I really like basically everything this strategy has to offer, but have 2 follow up questions which come out of my posts. First...do you (or Kevin if you're reading this, or anyone else that uses the strategy) have a mechanical exit strategy if the trade doesn't seem to be working out? Or if it's taking too long to close? And 2...do you ever compute your sell order as a percentage? The book indicates $.60 - $1.00 over cost, which in my case was about 6%.
Thanks for the dialog.
I haven't read Kevin's book yet, so I don't know whether or not he uses a mechanical exit strategy. I think it would be very difficult; however, in the back of my mind I don't want to lose anymore than my target profit. If I'm trying to make 0.60, I don't want to lose more than 0.60. So, if I'm profitable on 3/4 of the trades, the loser and one profit break even. That leaves me profits from two trades. My goal is higher than that, but that keeps me from wishing and hoping for a turnaround. For me at least the system requires monitoring and understanding the patterns of the particular stock you are in.
Several times I've settled for less than my target, either because of the time of day or the lack of price movement. Better to make a little than to give it all away.
I have done very well a couple of times by carrying the trade over to the next day. This is contrary to Kevin's system. Doing so, brings more anxiety and uncertainty about what the next day will bring, and it's not my preference.
My original post that was lost said quite a bit about anticipating and being ready to enter a trade. Have your entry set up, including your price, so you can send it instantly with one click. If you aren't filled quickly, then cancel the trade and move on.
You might get more response to your questions, by posting them on an appropriate article thread by Kevin rather than here. This thread is an instablog dealing with the publishing of his book.
NVC
The streaming charts are obviously in real time but when I open a ticket it always says the quotes are delayed at least 15 minutes. I'm clearly missing something since time is crucial with this strategy. Can anyone clear this up for me? Thanks.
This is on OX fwiw.
Thanks in advance!
Bought your book, and I have to say your analysis is very interesting and does make a lot of sense. I placed my first trade today on CF using this strategy after all five indicators suggested buying a PUT. Keeping fingers crossed to see how it goes...
John
John
Just curious!
BIDU @ 11:16 yesterday on my charts I get.
BB: hugging the BB
RSI: 80.23
IMI: 74.23
MFI: 73.41
Stoch: 88.47
MFI below 80 so could not take the trade.
Does this line up with your chart?
Thanks
Thanks for writing the book. I am just started to try this out. Like a couple others, it seems I made the wrong decision on a CF put yesterday. I think I did because while watching the chart, on the grid view, it definitely pierced the upper bb, so I made the trade trying not to miss it. Then the chart adjusted again and it became apparent that it was riding the line. Lesson learned about a little patience.
With your experience, you probably never do this, but what do you think is the best course of action when it becomes apparent you made a mistake? Sell immediately, wait for the indicators to fall, hold on for some period of time or $ amount and hope a turn is coming?
Thanks,
when I paper traded this system I printed out all the $100 stocks on the list with the indicators every day to try and make notes on when to trade and when not to and also get a feel for intraday movements on each stock. I did that same excercise looking back now that I have $ on the line and experienced the same thing that Ahomburger did with the chart adjusting itself. If Kevin had not posted the comment about CF going to $200 this week I probably would have made the same CF trade. I feel fortunate that even though I made a mistake I took a small profit on a lesson learned. I pushed the trade and should have had more patience. I went several days without a clear buy signal and lost patience. At the time the numbers and chart looked to be right and I pulled the trigger. I will keep trying and be more patient waiting for screaming buy signals next time. lots to learn.
One question I have on the CF chart from that day is it opened down and then immediately started strongly moving upward. Is this something that should raise a red flag that the stock is not behaving normally and should probably be avoided? Or, as long as that top band is broken, is that a trade to take 100% of the time?
My theory though is me buying the PUT caused the stock to go up just like me buying a stock always causes it to go down. LOL.
Just curious if anyone else saw an opportunity today perhaps one that I missed. These are the ones I am following from Kevin's list:
AAPL
NFLX
GOOG
CF
BIDU
WYNN
CRM
FFIV
CMG
VMW
Yes. It happened at 10:50am.
NFLX expressed itself at 14:46 on 2/29. Think or Swim expressed a bit more "enthusiasm" than Options Express but I use both platforms in tandem to confirm a trade. I also watch S&P futures and will trade only in the direction of these (which were headed down at 14:46), therefore a put seemed a reasonable trade.
That being said, I could not profit by market close and left the trade open overnight, putting in a GTC AON sell for +$1.00 before leaving for an early appointment in the a.m. While away this morning, it traded at 9:30:24 for my price and a good profit (is there such a thing as a "bad profit"?) at a gap lower at the opening. Left some on the table but happy with the profit (Kevin's Rules).
I normally will will look for a "sharper" angle of breach of Bollingers but felt comfortable because I follow NFLX closely. I feel lucky on this one however; not smart. Thank you Kevin, for all that you do and all that you share - I owe you another. Good Luck and Good Trading to all of my fellow students!
John
You mentioned to use 2 MINUTE intervals.
i use stockcharts but they offer only 1, 5,10 minute intervals
do you recommend any one other than stockcharts who will give 2 minute intervals
thanks
sekhar
Finally I bought your book. Good book. I have just this one question. In part 4 Understanding the five technical indicators there is a CF chart as an example of the price riding the band. The text mentions that the other 4 indicators are showing buy signals: RSI: 23.22, IMI: 14.05 etc. However, as I checked the CF chart I cannot see these readings for the indicators. Am I missing something?
The same for the Citi-chart.
Thanks, maybe someone else can help.
R.
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