this means come beginning of September I will have a new roommate. This time I predict it to be a better go around. and she has only to commit three months to finish out this lease. And if all goes well in the trial period I think we will continue to be roommates and move into Fort Worth somewhere. Which frankly I'm ecstatic for a new change. That is the update on that.

I am checking out new churches in the Fort Worth area. I do not any longer feel called to be at my current church and will go and seek and see what God has to show me through this. If all is fails I can just be in worship with him without any commitments to do weekly (at least not right away). I hope to be called to attend somewhere and serve but know that it is widely important I have a support group. A group of people my age who relate and go through the same things I do.  At least that is the hope this next year I looks to be hopeful. It is all I can ask for, I am ready for a positive turn in life and have good things happen in my life. Not to downsize the good that has come in my life. But I am ready to have the good outweigh the bad for awhile.

Tonight is going to be spent riding a few waves, which mysteriously decided to pop up late this afternoon from nowhere.  The waves aren't big, about thigh high, but should be good for a longboard.

Jeff

So here is a perfect time for me to regroup. and find those things that I enjoy so much. Maybe they might seem quirky but I have been told I am quirky. or Maybe seem rather off base for someone that is 25. That is ok too. They make me happy. and as long as I am not doing harm I find I will be ok with that.

Some things I enjoy:

Laying out under the stars: This doesnt happen much since I live in land of the concrete. But when I can escape from the lights and sounds It is pure heavenly.

I like silly sitcoms and stupid humor.

Gardening both vegetables and flowers. However I enjoy the flowers cause they look and smell pretty. Vegetables are just good good to eat.

I like swimming and boating and fishing. All outside all for different reasons.

Running is a new love. It's a pain that is good. It takes away pain of stress and allows me to focus on becoming better.

Somethings I dislike:

Boiled cauliflower, Lima beans or Brussel sprouts. Not separate or together. just don't like them.

I don't like being alone for too long. its depressing.

Reading books that don't make sense to me. I have tried to read Brothers Karamazov ... its good for a little while then i completely get lost. maybe another day i can figure it out.

Shopping. Mainly with people who are hard core shoppers.  I like shopping with friends who just want to browse or know what they are getting.

That is just a few things but I figure might as well record them while I had a moment. I will go now and regroup. or just make my way to work.

Although I wasn't a fan of those 60's beach movies, an impulse made me buy this poster.

Late this afternoon, I got my art collection back out of storage, had the alarm technician wire the frames back up, and now my house is getting back to the way it was. I ended up having to pay overtime to the tech, but at least I'll sleep well tonight. 

The markets were off to an interesting start this week, and things went pretty much as predicted.  I moved some spreads around, took some money off the table, and sold some options, which I ended up covering right away as soon as I found out I was wrong.  Tonight is going to be spent writing, reading a little, and chilling to some music.

I might break out a bottle of Cognac, and have a couple of sips.

Jeff

[ Bikini | Short Frilly Skirt w/ Sheer Tank worn over bikini | /artilleri/ - lovely lily! | BeBae skin ]

[ Back View | Front View (without Bikini top) ]

This outfit is great for beachwear but can double as lingerie too because it's so versatile. I love the sheer tank, it's got that great "wet" look so perfect for the beach.

TP to Twosome @ Starlust to check out all the goodies.

** Randomness of the Day **

A lot of people said, Gogo, how come your AV never smiles? Looks pouty? Has a dead blank stare?

The answer to this is...... I don't know! I don't like to emote, but I assure you my AV is happy :P So here is a collage I made of ALL the emoting you could possibly ever want to see from me...............

[ That's me going through the emote menu ]

**edit** The hair is called Elegant Hair from JUNWAVE, I've re-textured mine with a brighter blonde.

I've been pretty jet lagged, and pretty much slept in all day.  John called me and told me about his run with the bulls and how he almost got nailed.  His friend got the close encounter on video, and John said he would put it on youtube.  I will post the link as soon as his friend puts it up.  He said he's going to do it again tomorrow, and that it was the most thrilling experience of his life.  I know where he got that gene.....

I've been depressed because tomorrow would be Denise's 50th birthday.  Oh well, a little strong drink should lift my spirits.

My spreads keep working, and I've added a few options positions  to the mix.  I find this grain market blowoff to be very fascinating to watch.  I haven't seen anything like this in many years, and am surprised to see my spreads still holding. 

I'm enjoying watching the oil market action.  The problem is that I don't know how or where to trade it at these levels and volume.  I'm still learning something every day. 

I've been paying particular attention to the AAPL $200 October calls.  I can't tell you why, but they look like an interesting trade. 

I was stupid today, and lost a nickel trying to scalp copper....when will I ever learn.  Don't trade while sleeping.....seriously, I was asleep when I put that trade on.

We had a real bad squall come through yesterday afternoon, and had a whole lot of lightning damage in the neighborhood, plus we got six inches of rain in two hours.  The center of the cell was on top of us for an hour, and it was as loud as hell for the whole hour.  I've never had a bolt hit within 100 feet of me before, and that got my attention.  The power was out all up and down my key, but my generator automatically kicked in and we had minimal power at our house.  Luckily, none of my computer or amateur radio equipment was damaged.  Oh well, tis the season.

I need to hunker down, make some money, finish my book, buy a new surfboard, and try to have some fun.  I also have a few ideas that I want to write for the gang over at Daily Speculations.  Now, that is a great website, and is probablhy the best site for speculators around.  I feel like the dumbest person in the room when I'm over at that site.  What a learning opportunity, and that site has taught an old spec like myself many a lesson.

Jeff

With the current market conditions, the DOW can drop 200 points in one day and then go up 300 points the next day. Yesterday alone, the DOW dropped 220 points during the first half hour of trading and, while our friend, Ben Bernanke, was speaking, it went back up more than 220 points. The market is so volatile that if you do not have a trading plan nor enough know-how, you will get slaughtered. On the other hand, if you have prepared a trading plan, and know how to manage your risk, you will end up as a consistent winner.

As you would have noticed after doing the "Seven Day Pro Trader Series," Online Trading Academy is a big believer in risk management because we know its importance. We know from experience that it is one of the key elements of successful trading.

The difference between OTA Grads and non-grads

It is very clear to me that a lot of traders who come to our Power Trading Workshops come to learn "how not to lose money." One of the reasons why they lose money consistently is because they do not really know what risk management is all about. They do not know what strategies they have to put in place to manage their risk. They do not know that there are six kinds of stop-losses. They do not know how to use these six different kinds of stop-losses. They do not know that risk management is a major element if they really want to survive and make money in the stock market, especially in these volatile markets conditions. Believe me, I have experienced major losses in the past also and I know how important risk management is. I believe that the majority of traders who learn how to trade the hard way via books, CDs, DVDs, and week-end seminars get into a vicious cycle. One of the key issues is "how to" put everything together. Why? Because the authors and week-end seminar leaders will never tell you that trading is one of the hardest professions there is. They will not tell you that you need more than discipline to make money. They will not tell you that trading is not a "get rich quick" scheme. They will not tell you how important risk management is and how to effectively manage your risk. They will not tell you that you have to be your own psychologist, money manager, technical analyst, fundamentalist, and risk manager. All they will tell you is that trading is great and you can easily earn money from trading. All they will tell you is that they have this great system and you can make money with their system. All they will show you are the common charts and patterns that everyday traders use to trade the markets--not how the professionals from big institutions like Goldman Sachs trade. All they will tell you is that if they can make $10,000 to $90,000 in a year, so can you.

Fellas, I want you to understand that these are all marketing techniques and do not believe what others tell you via the media, news, advertising, and the internet.

So, make sure to ALWAYS put your stop losses in place after executing that trade.  Remember to "Plan the Trade and Trade the Plan." 

Education has been a great part of my existence and growth as a trader, and I have never before seen a company like Online Trading Academy. Wouldn't you agree? 

Here's a trade that I did last Tuesday using Support and Resistance and OCO's

Stock: ADBE
200 shares
Time Frame: 7/14/08 15:15 - 15:25
Strategy: Momentum Trade using Support and Resistance.
Support: $38.53
Entry: $38.58
Stop Loss: $38.48
Exit: $38.88
Profit: $60 in 10 minutes.

If you have a trade that you want to share, e-mail me at rsoriano@tradingacademy.com and I will post it.

IMPORTANT REMINDER:

On July 23, 2008, we are going to have our 2nd Alumni meeting!

Guest Speaker: Ryan Gibson - Traders Accounting
Topic: Tax, structures, etc. (bring all your necessary questions)
When: July 23, 2008
Time: 6pm - 9pm ish
Where: OTA San Jose - 1798 Technology Drive Suite 152
Cost: FREE for Grads Only

Online Trading Academy San Jose had its first Alumni event for our graduants last night and it was a blast.  Brandon Wendell who is a Master Instructor was our special guest gave a lot of advice and valuable information that graduants currently face with their trading.

The topics that were covered were the following:

Volume - The importance of volume

Exit and Entry Points - How to enter and exit almost at the right time using support and resistance. 

The importance of Support and Resistance - Based on supply and demand

The importance of discipline - Discipline starts by creating a detailed, written plan

Next month, we are going to have another special guest speaker - Ryan Gibson.  He's the vice president of Traders Accounting and will be talking about tax and structures in trading.  So, make sure to come along, bring your questions with you, and take this opportunity that will assist you with your trading.

All the best on behalf of Online Trading Academy San Jose,

Reynaldo Soriano

This information is an overview and by no way should replace the legal advice of an attorney.

In the late 70's lease option sales were used primarily to get around alienation clauses (a lender clause that makes the loan due when sold).  The courts however ruled that it is not a lease but a purchase.

What is an Option ?

• Gives a buyer the option to purchase
• The money for the option is usually non refundable and the amount is negotiable
• The purchase price can be determined first or the buyer and seller can agree to a market value purchase price when the option is exercised
• The length of an option is typically 1year but this of course is negotible
• Buyer can sell his option to another person
• The buyer has the option to buy but the seller can not sell to anyone else during the option period
• If buyer decides not purchase at the end of the option period it expires.

 How about Lease Options ?

• Buyer pays money for an option to purchase the home at a later date
• Buyer and seller agree on a rental amount for the term of the lease
• The option money is rarely used as the down payment but typically part of the rent payment is
• Buyer usually can not assign the lease agreement to another person
• Buyer does not have to purchase the property

 What's different about a Lease Purchase ?

• Buyer and seller agree to the purchase price before entering into the Lease Purchase
• As with the lease option parties agree to the lease and the rental amount
• Option money is nonrefundable
• Buyer is usually responsible for maintenance and upkeep of the home including insurance and taxes
• The buyer is obligated to buy the property before the option expires

Again I highly recommend hiring a real estate Attorney before entering into any of these options.

There is a woman (BL) who wants to meet me.  And I want to meet her, and do things that I have not done much before, but that I really enjoyed that one time I did them.  When I think of her, my body fills with a lustful feeling and sex is all I can think about. 

Then there is a male car salesman (SH) whose ad for NSA sex I responded to.  We talked last night and when I think of him, lust fills me again.  Along with the lust comes uncertainty, because we have emailed so little.  I do not know much about him, other than that he lives with another woman that he no longer has feelings for, but he stays anyway.  I can appreciate that feeling, but wonder what this says about him, in particular.  We are supposed to meet for coffee this morning and I find myself hoping that there will be something that I can put my finger on that will tell me why I am not as interested as I could be. 

Finally there is DM (not to be confused with D, from previous posts), a male I used to work with.  I lust for him, but I also really like him.  There is potential there for something more.  When I was working at my old job, I loved to talk to him -- he is funny, caring, intelligent, good looking.  The question becomes whether he can see me in a light other than that as a colleague.  I talked to him last night, just called him up out of the blue, with the encouragement of my female friend, CF.  I wanted to ask him out for drinks, but couldn't quite get the words out of my mouth.  I am going to try again today. 

I find myself alternately wanting the NSA sex with the beautiful and sexy BL and wanting to see if there could be something real, plus sex, with DM and I.  Possibly I could have both.  BL is married, and wants to have fun.  DM, according to V, is looking to actually date. 

I have never been in an actual relationship with a woman, and have never kept a woman as a lover.  I am intrigued with the thought of having that option.  It sounds great in my head, in the places in my body that tingle and ache when I think of her.  But it is uncharted territory, and as much as I want to do that, and probably will get together with her, I can't get DM out of my mind. 

With DM there is the potential for something I haven't had in a long time -- something meaningful.  While sex is important, a meaningful relationship is something I have sought out for a long time, only to not find it in the choices I made. 

What I need to remind myself is that I don't need to make any decisions right now.  I can explore, see what happens.  I do not have to make up my mind without all of the pertinent information that I do not have yet.  I can work through feelings of uncertainty and curiosity, lust and like.  While I tend to jump in head-first, I can change that pattern and make a choice at the end of the day, after I have the information I need. 

There are always options.  And I can decide to have my cake and eat it, too.

It gives you a lot of leverage, but you don’t lose out to the time decay factor so prominently featured in normal call options.  It really sucks to watch your call or put have the value slowly sucked out every day that goes by and the stock doesn't jump.  With a LEAP you have a much bigger window in which the market can come back.  Of course you forfeit any possible dividends, but this is factored into the LEAP price to some extent.

So for those of you that are CONVINCED that the market is going to swing back, but just don't know when, LEAPS could be a very tasty option (harhahrhar).  Personally I'm looking into a LEAPs revolving around financial ETF and nuclear baskets. I still like APPL and GOOG, but I'm considering moving against the other big tech companies.  I think global tech is going to slow down for players like IBM and ORCL.

WendyW asked "Where are your kitchen cabinets?" There aren't any... we will be using free-standing furniture. some of this we've bought, some of it will be assembled from kits, and some I will make. The only original cabinets will be the island, behind Karen in the pic.

The cabinet to her right will be food storage, and the one to her left will be where the toaster oven sits (the microwave will be on a shelf abve that.) The unseen piece K is moving is a broom closet, visible in this picture

The advantages of the freestanding furniture are that
1) you can rearrange it (as K is doing in this picture)
2) it has character
3) your worksurface is not jammed up under a low cabinet
4) it's easier to find things when every cabinet is not identical.
5) you can move items for cleaning.

I can start planning the new built in desk layout and function. Looks like there is going to be heaps of room to play with. Looking forward to the big desk and built-in cupboards.

In thinking about the layout of the new office I am also considering the associated work such as the home network. I am planning on hard wiring most of the house to the Internet. Including a wireless access point upstairs to provide wireless access over the whole house.

As far as wireless access points go I am currently considering two models from Netgear:

1. PROSAFE™ 802.11G WG102
2. PROSAFE™ 802.11G WG302

Both are pretty good wireless access points. The one thing that I have to consider is that I am trying to provide wireless access over two floors and I need the signal to travel both horizontal and vertically. The point will be upstairs and most of the coverage will be over this area. So the additional areal on the WG302 may be distinct advantage, being able to position it at a different angle. Both units are capable of PoE which is a must as the access point will be on a small shelf high on the wall. I am going to have a chat to my brother as he is a guru with this sort of thing... he should be, since he is an IT manager!

The hard-wiring over the rest of the house is mainly to the entertainment areas such as near TV's etc. This is not so much essential now but more a future proofing measure. I firmly believe that in the future all our "Television" will be delivered via the Internet and not as a signal through the air as it is now (in Australia at least). So I figure that hard wiring it with CAT6 cable is the best option for this application.

So getting back to the office layout; I'll need a shelf or cupboard dedicated to routers, power, switches and access terminals. So being able to see the walls is starting to make the decisions as to where these things go a lot easier.

Maybe by the end of the week we shall see a second floor start to emerge.

Options Trading has a reputation for being extremely risky, but this reputation is in large part undeserved. True, option trades are extremely risky - even dangerous if you have no idea what you are doing. However, that is true of all forms of offline or online trading, and trading in options is no exception.

While options trading has this reputation among laymen, it is often considered to be a form of risk limitation with professional traders. After all, in what other form of investment can you guarantee the maximum loss you can suffer right at the point where you enter the trade?

Options are contracts that give the purchaser the right to buy or sell an underlying security, such as a stock, a bond or a commodity, at a fixed price and for a fixed time period only. You can find options on underlying securities such as stocks, mutual funds, bonds, commodities, and more.

Option trading gives you the chance to exploit a whole range of market opportunities that are unavailable with conventional online stock or forex trading. For example, one class of option trade allows you as the buyer to make money if you expect the market to move strongly in one direction or the other, but you are not sure in which. If you are the seller of position, by contrast, you are betting that the market either goes nowhere directionally and/or the volatility declines.

Trading in options can actually lower your risk. For example, whenever you buy an underlying stock, there is always the extremely small, but non-zero, risk that the company can go bust and the stock price can first be suspended and then go to zero. That means that your potential loss is the point difference between the price you entered the stock trade and zero, multiplied by the number of shares you own! If you had done the corresponding option trade by contrast, i.e. buying call options on the stock, your loss would be simply the price you paid for the options.

Where options are very risky is where untrained traders go "naked short", as it is called. In one common example, they sell put options on a stock index future and collect the option premium as payment. This gives the buyer the right to sell the stock index future back to the put option seller at a fixed price, called the strike price. This is fine as long as the underlying index continues to rally and the strike price is basically never reached. However, in one famous example, one hapless option punter, who had been happily selling put options on the FTSE index futures for years and collecting the cash, got badly caught when the entire stock market crashed in 1987, and the option buyers exercised their right to sell their positions at prices much higher than the current market!

However, such foolishness apart, option trading can be an extremely profitable way to trade in stocks, forex, bonds, currencies or whatever. When used properly, they can actually limit your risk drastically. Option trading can allow you to create positions and exploit market opportunities not otherwise available. Best of all, if you combine options with the underlying instrument, you get to create a whole range of interesting risk profiles.

The key to success in option trading is, as with anything else in life, to study the subject hard before trying to trade and, if possible, begin by paper trading the market. Once you are satisfied that you know what you are doing and have a valid option trading methodology, then you can begin risking real money. Even then, you only trade very small to start with and with money that you can afford to lose. Once you know what you are doing, and your account size show some nice profits, then you can afford to trade progressively larger size for progressively larger profit.

Article Source: http://www.articlesbase.com/finance-articles/option-trading-as-risky-as-the-reputation-425935.html

About the Author:

Discover FREE expert Trading videos, podcasts and articles packed

with secret strategies to super-charge your Trading and rocket

your profits. Dr. Asoka Selvarajah also offers you his critical

FREE report, The 7 Deadly Mistakes Of Option Trading.

Visit His Option Trading Site (OptionTradingRebel.Com) Right Now!

--------------------------
More articles available at:
Http://onlineoptiontrading.fxforexguide.com

One company named ShuttersKestrel are made from clear kiln dried Basswood and other hardwoods like Cherry, Mahogany and Maple which can just change an entire interior. If you are looking for something outside then exterior window shutters from Sunbelt Shutters are built to your specifications and can be installed as well.  Customers have the option of selecting component priming and painted shutter finishes to match any color.

Believe it or not, good Options trading newsletters and Stock trading newsletter have helped people make a lot of money from the stocks and options markets while saving them considerable fortunes by trading on their own.

The best trading newsletters encompass all the fundamentals of great trading in their service that in turn helps you form top-notch trading habits. Besides making money, forming great trading habits taught by professional trading newsletters (and not all newsletters are taught by professional traders) can be one of the most valuable things you pick up from your subscriptions.

And just for the record stock trading newsletters or option trading newsletters are also called stock trading advisories or option trading advisories, or stock pick newsletters, option pick newsletters, stock trading membership site or option trading membership site etc. you get the picture.

The question is, "How do you find a good Options trading newsletter or Stock trading newsletter?"

Well first all, what kind of trading style do you want to trade? Here are the varieties that are available:

- Swing trading stocks and options

- Intraday trading stocks

- Pivot point position trading on stocks and options that aim for explosive five day to one month moves with well-defined stop losses

- Trend trading that takes advantage of two to four week trends and three to six month trends - trading stocks and trading options

- Then you have the various options strategies, complex option combinations, credit spreads, covered calls etc.

The best services first focus on stock price movement. These top-performing services combine technical analysis, chart pattern set ups, anticipation of opportunities on the charts in addition to combining other price motivational factors such as earnings season cycles, stocks splits, seasonal runs, trends of the indices etc.

The best services have a decent track record. That said don't get too caught up in a track record because some services may fake their track record. Bottom-line is that the philosophy of the service must make sense and must meet common sense. In other words their approach to capturing trading profits must make sense. Ultimately, if you like what you see, the best test will be to take a trial and paper trade their service. Don't use real money but pretend like you're trading in real time with real money.

When you're testing a stock trading newsletter or option trading newsletter make sure you give it a fair shot. Remember, once you find a good service that service could make you a lot of money. In fact, through known acquaintances that wish to remain anonymous, some subscribers to certain newsletters say they have made millions of dollars trading stocks and options through those particular newsletter trading ideas. So keep positive about the potential of some of these trading newsletters. There are actually good newsletters out there.

Really, the key to finding your Stock trading or option trading newsletter 'golden goose' that lays the 'golden eggs', is to search in the search engines, search through blogs, forums and review sites. Often when you read review, that person may be a little biased because they may be promoting a particular newsletters affiliate program but it's worth checking out. Additionally there are many advisories listed in trader magazines you'll find in your local bookstore.

The bottom line is that you see something that looks interesting you must give it a shot. Don't trip over pennies on your way to thousands of dollars. If something looks good sign up, receive their updates and paper trade. This way we'll be doing complete research and you won't leave behind something that could have even provided you financial freedom.

Paper trading, which is pretending that you are really trading but without the use of real money, is definitely the best way to get started with any trading service, especially if it is in active trading service. Using real money can cloud your judgment because real money pulls strong emotions into your evaluations.

Start doing your research for your 'golden goose' stock trading newsletter or options trading newsletter today. Imagine the possibilities if you find one!

Article Source: http://www.articlesbase.com/finance-articles/how-to-make-money-with-a-stock-trading-newsletter-or-an-options-trading-newsletter-360717.html

About the Author:

Chris Viscaya is a head trader at OPIVO
Stock Trading OPIVO Trading specializes in trading a unique pivot point strategy on stocks with options offering a subscription service as well as a home study course.

----------------------------------------------
Read more on http://onlineoptiontrading.fxforexguide.com

Yesterday, I finished my pre-employment drug screen, TB test, blood test, Tdap booster shot (OUCH!!) criminal background check & assorted other things for my new job at iconic hospital.  I'm feeling ready to go..all my papers are organized and in my purse, my outfit is picked out for Monday's orientation,  scrubs are washed and ironed in prep for the days spent in pharmacy....when all of a sudden.........

The Feds call me this morning at 9:30 am.  Yup.  The VA.  The wankers who IGNORED me for the past 4 months.  They just approved 3 more tech positions and offered me a full-time, days only, one Saturday a month position at nearly $2.00 an hour more than the iconic hospital.

I mean, the guy sounded like he was trying to charm a snake when he was talking to me about taking the position.  I had told him I was starting the registry at iconic hospital on Monday.  He was like: "Well, registry positions are only part-time, and don't include benefits...and because you're certified, you'd start here at quite a high salary." I almost expected him to end the sentence with "baby".  Smooth dude.

I was a bit taken aback by it all.

So...he just took the reins and said he was going to put my application through. (Yes, the application I gave them,  complete with all the Federal paperwork, that has been languishing in their tech file for FOUR MONTHS!)

He tells me that since the Federal Government moves at a snail's pace (No SHIT, Sherlock), that I should just work the registry at the other hospital until all the stuff goes through, and the VA's Human resources dept. calls me up.  It might take 6-8 weeks

(BWA-HA-HA !!  Maybe he meant to say MONTHS?)

Then he said:  "Yeah, and when HR calls you, you can just resign from the other hospital."

Yep..he actually said that.   I said, "Well, I may just keep the registry job and work on a weekend basis, if I can swing it."  He said: "Oh, of course..you could do that, too."  He probably thought I was just being a responsible, loyal humanoid.  But I really meant it.  The VA hospital and the iconic hospital are sister hospitals and are literally right next-door to each other.  So, I could do that if I really wanted to.  Maybe.

JEEZ!  I KNEW this would happen: That  the minute I snag a position at the iconic hospital, the Feds would come a 'callin'.  Isn't that always the way???

Here's my plan, though:  I will make NO mention of this new development to my nice GM dude, or anyone else, for that matter...at the iconic hospital.  I will pretend the Feds never called me, because I still don't trust 'em.  If they don't call, at least I'll still have a decent, if part-time job.  And if they DO call, well...I'll be surprised, and will have to consider my options.

Either that or...PUNT!

It was bad enough I broke my rules by trading during the day, but I really screwed things up by letting my greed get the best of me. I went back for a bigger bet yesterday, ignoring a logical voice that told me this strategy would lose it's effectiveness at some point.   After all AAPL's stock, like every other, does go down sometimes.  And yesterday it did.

I put in my buy limit at morning lows on the 185 calls yesterday, but made a first of many mistakes.  The first mistake was betting the farm on this strategy.  This was akin to winning blackjack two hands in a row, and then betting everything you have that your "strategy" for winning blackjack would yield another 21.  Of course it never does. I did not invest or bet all of my money but I certainly went for it more than ever. My greed won that battle over logic. The second mistake was I left the order open even though I knew I would not be around to see it executed and even more importantly I would not be able to enter in a stop to protect my downside.   I was at lunch meeting for several hours away from a computer (and scottrade's mobile site is just awful...it's almost like working in dos prompt again).  So my buy order executed and then the market danced around unchanged until about 230pm, and then it started to head south.  This is when I would have gotten out, when a stop would have cut my losses.  But I didn't have a stop, I was exposed...and the calls fell $1.

This is where the 3rd and most costly mistake came to play, the one that erased my gains from the previous two days entirely.  First I panicked because I had more money at risk than I was used to.  So I set in a measly stop, one I knew would be executed because I wanted out.  I happened to time the bottom almost perfectly, getting out of the calls just as they rebounded.  Fear won that one.  Next greed started feeling a little more confident...I suddenly KNEW aapl was coming back, the market (this horrible, horrible, weak market) was coming back towards the close.  Buy now...buy low, sell high right?  So I put in another large buy limit order, thinking I could buy just above the low of the day.  I think this behavior requires a new rule...I can't buy and sell and buy again in the same day EVER.  When I'm doing that, it is a sure sign I'm being ruled by my emotions. Not good.  So I was back in, at a slightly lower price than I had just sold for a loss.  I held over night thinking AAPL would surge today.

This morning the market opened and I found myself watching the scottrade streaming quotes feeling like a gambler at the horsetrack who had bet his mortgage payment on the long shot horse...it was very scary.  This is why I started this blog..to stop things like this.  I set a stop and closed down Scottrade.  If I'm stopped out, I'm finished I told myself. Strangely despite a loss, I felt better clearing up the uncertainty.  I may lose, but at least I know how much I"ll lose and I'm ok with that.  That is a big key I'm learning...it's ok to lose money because quite frankly it will happen a lot in investing.  But you need to know just how much you can and are willing to lose.  I lost.  I was stopped out, ending down about $1K (after being up $5k) in this whole fiasco.  AAPL's stock recovered from the lows of the day, meaning my strategy would have worked today, nonetheless I am happy to be out.

No more gambling...investing only.

potential new rules from lessons learned:

-Can't buy and sell and buy (or sell buy sell) a stock in the same day

-always set a stop..if you are unable to set a stop then don't make the trade..OK to wait

-never bet the farm all at once

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Many traders like to use more sophisticated options strategies in their trading but many times the simple call options trade is the most suitable trade for the market condition. Follow the steps below to increase your probability to profit from call option trading.

1. Determine that the price of the underlying instrument is going up. Trading call option is a directional strategy. This means you have to pick the direction of the market, and in order to profit the market should move up. There are many different ways to anticipate upward market movement. Some people respond to good market news and some use fundamental data such as increasing earnings per share, increasing dividend yield, increasing revenue, etc. Some use chart patterns that indicate upward market movement such as double bottom, reverse head and shoulder, ascending triangle, and upside price breakout. Some use other systems such as Elliot waves, and systems which use combinations of price patterns and other indicators.

2. Determine the target of the price movement. The system that you use to indicate an upward price movement should also indicate a target price for the movement.

3. Anticipate the time for the underlying price to move to your target price. How long do you expect the underlying instruments price to move to the target price? This is important to determine the expiration of the call options you want to trade.

4. Look at options chain. Bring out the options chains to see the quotes and other relevant data. Nowadays, real time options chains are easily available through the internet. You can also call your broker to get this information.

5. Narrow down to the exchange, and expiration date. If you trade online, determine the exchange you want your order to be submitted. Determine the appropriate expiration date based on the time you expect the price to move. Unless you are using a trading system which trades options near their expiration, usually you would want to buy call options with expiration that is slightly longer than the anticipated time. This is to reduce the effect of time decay. This is very important because time decay can cause your call options to lose in value.

6. Compare the Delta, Gamma, Vega and Theta for several strike prices of the same expiration. After you narrowed down your options chain to the specific exchange and specific expiration date, you look at the Greeks. Ideally you want to have high Delta, high Gamma, low Vega and low Theta. High Delta and high Gamma can give you a higher and faster profit when the underlying instrument's price moves up. When you are buying options, low Vega is very important. Low Vega means cheaper options and when Vega increases, you make profits even if the underlying price does not move. Low Vega is associated with low volatility and quiet market. And low Theta means the call option makes smaller loses due to time decay. If you are a longer term trader, you can choose out-of-the-money call options. These options have smaller delta but they are cheaper. If you are a shorter term trader, you would prefer at-the-money or in-the-money call options because they can give you faster and higher profits due to higher Delta and Gamma.

7. Evaluate your risk versus rewards based on your target price. You can also use a risk profile to help you make the evaluation. Calculate you breakeven point using this formula: breakeven = call strike + call premium

8. Look at the open interest and volume. It is better to trade in an active market so that you can buy and sell easily. Another reason is that you don't lose a lot on the bid/ask spread.

9. Choose the best call option with the highest probability for profits.

10. Determine exit point and stop loss. Make sure you have your profit taking points and stop loss point in place before you place in your trade. Do this so that your emotions do not take over your decision making after you place in your trade.

11. Place in your trade. Call your broker or key in your trade online.

12. Watch the underlying instrument's price movement and the option's price reaction

13. Close your position. If you made a profit, close your position by either selling the call options that you bought or exercise the call option and sell the shares. If there is some time remaining before expiration, normally it is better to sell the call options because there is still time value in it. If you made a loss, close your position by selling the call options.

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