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  • #40,701
  • Sep 3, 2024 4:22am Sep 3, 2024 4:22am
Quoting profits7
{image} {image} {image}
________________ bla BLA2 =
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Don’t focus on making $$$, focus on protecting what you have.
  • #40,702
  • Sep 3, 2024 4:23am Sep 3, 2024 4:23am
Quoting determinato
{quote} Interesting, how do you exercise put could you talk more about it? Like what it is and how they work
Its actually super super simple when you get your head around it.

You have 2 options on each asset- , PUT’s & CALL’s .. if you buy a PUT you are expecting the price to be below a certain level by X date.. if you buy a CALL you are expecting the price to be above a certain level by a certain date.

the price of each is calculated - TIME TO EXPIRY + DISTANCE = price you pay to buy… IF the price drops at a rate of knots the price for the PUT option will rise accordingly, quickly.

So for example, as above, if you choose to buy a 2300 PUT with a 25/10/24 expiry if the price dropped to 2400 next week, your put price would rise from £11 per put to say (example only) £40 per put… this is because the time left to expiry is not much less than when you opened the position BUT the price has halved. Profit off £250 = c£750 - even tho the price is still above your exercise price.

as mentioned before, you would perhaps close your original or even half of them & leave the rest to run for free. If for some strange reason gold dropped to 2000 on 25/10/24 with half -12 positions running free your profit would be

300 points x 12 = £3600 + the original £750 = £4350

honestly I can’t emphasise enough how valuable options are when you hold a small account, not only do they increase odds of success but they also help you gain a better perspective of what’s going on…

when you start out trading a small account with SL your emotions can become overwhelmed which effects your judgement. If you can build a small account using a longer timeframe & as you do slowly integrate the day to day trading you will benefit in more ways than one imo.

it’s well worth looking into.

fwiw I think we end the month with a Shooting star doji should be a good swing this month.
Que Sera
  • #40,703
  • Sep 3, 2024 4:25am Sep 3, 2024 4:25am
Quoting Catempire
{quote} Personally. If you have a small account use it more like an investment account, risk larger portion of it but over a much longer timeframe. if you take options for gold to be under 2300 by 25/10/24 they are currently £11 per position, so for £250 you can hold 25 put options, at that level, if gold dropped say 80/100 points in the next 1 month, you can close 5 of these options to cover your £250 risk & you have 20 put options at that level with zero original risk. if gold dropped to 2180 before 25/10/24 you would have +£2500 profit. your...
I think you meant to quote @determinato

Yeah, if you can use options then that's valid for small accounts - being in the UK, it's always been (well for me) an issue finding options accounts, so I gave up and the trading account I use is a spread betting account which is tax-free and I've just stuck with it - funnily enough my spread betting provider in the last couple of months has brought in options, but I've not had chance to look at the offering, plan to over winter though as Options would be a nice addition to what I do

Yeah - don't get me wrong, the $4.60 per day was just the example of what was needed to hit the 2.3R per week to double an account - you might be able to do the 2.3R in a day and then you can decide whether to take the rest of the week off or build the account faster - I was just giving the example
  • #40,704
  • Sep 3, 2024 4:30am Sep 3, 2024 4:30am
Quoting Thtpro
{quote} I think you meant to quote @determinato Yeah, if you can use options then that's valid for small accounts - being in the UK, it's always been (well for me) an issue finding options accounts, so I gave up and the trading account I use is a spread betting account which is tax-free and I've just stuck with it - funnily enough my spread betting provider in the last couple of months has brought in options, but I've not had chance to look at the offering, plan to over winter though as Options would be a nice addition to what I do Yeah - don't...
I’m uk too.

www.ig.com mate

brilliant options for the commodities and super simple to use.

wasn’t knocking what you were saying and yes should have quoted the other post.

gl for the week
Que Sera
  • #40,705
  • Sep 3, 2024 4:58am Sep 3, 2024 4:58am
Quoting Catempire
{quote} I’m uk too. www.ig.com mate brilliant options for the commodities and super simple to use. wasn’t knocking what you were saying and yes should have quoted the other post. gl for the week
Yeah I know you weren't - hard to express in typed replies, hence all the misunderstandings you see on the forum

Yeah Ig - just not had chance to look, will do - as long as they're priced fairly, I'll have a gander over the winter and add to the trading arsenal

Same to you - hope you end the week in profits
  • #40,706
  • Sep 3, 2024 5:13am Sep 3, 2024 5:13am
Hello Guys,
GOLD today looks not bad to sell,
will be looking around 2510
to sell,
for 2500 first target is always small tp and closing half trade gives me Confidence to Hold for final target 2490-80
if 2490 Broke today then 2450 is also possible,
but we are looking for daily trade not weekly setup,
i have sell running from 2515 will wait for 2470 for that and Positive interest Dont hurt at all,
Good luck Guys.
Don't compare your Trades with Others
  • #40,707
  • Sep 3, 2024 5:19am Sep 3, 2024 5:19am
Dumped all Longs on the Silver. Next is 27.8$ which is probably going to fail as well... then, we have 27$ and after 27$ we have 25$ which is the price I'm expecting the Silver to drop to. Extreme, but possible is also 22.5$ and that would be a clear 10$ extermination from the high of 32.5$.

Now is the time to relax and stay patient until this extermination of buyers concludes on the PMs.
  • #40,708
  • Sep 3, 2024 5:23am Sep 3, 2024 5:23am
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  • #40,709
  • Sep 3, 2024 5:34am Sep 3, 2024 5:34am
Going Short on every decent retracement seems to be the game.

I think they want to wipe out as many buyers as they can... 2350$ is as good as done in my opinion, then we'll see if they are done or they have yet another major drop in mind.
  • #40,710
  • Sep 3, 2024 5:50am Sep 3, 2024 5:50am
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  • #40,711
  • Sep 3, 2024 5:54am Sep 3, 2024 5:54am
Quoting Catempire
{quote} Its actually super super simple when you get your head around it. You have 2 options on each asset- , PUT’s & CALL’s .. if you buy a PUT you are expecting the price to be below a certain level by X date.. if you buy a CALL you are expecting the price to be above a certain level by a certain date. the price of each is calculated - TIME TO EXPIRY + DISTANCE = price you pay to buy… IF the price drops at a rate of knots the price for the PUT option will rise accordingly, quickly. So for example, as above, if you choose to buy a 2300 PUT with...
Thank you very very much much for that explanation and response. I’ll do digging into this over the next few days!

Would you recommend any good brokers or platforms for this?

edit - just saw your reply about IG.com will check them out, thanks again for taking the time to explain!
Fate goes ever, as fate must.
  • #40,712
  • Sep 3, 2024 6:04am Sep 3, 2024 6:04am
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Don’t focus on making $$$, focus on protecting what you have.
  • #40,713
  • Sep 3, 2024 6:12am Sep 3, 2024 6:12am
Quoting Catempire
{quote} Its actually super super simple when you get your head around it. You have 2 options on each asset- , PUT’s & CALL’s .. if you buy a PUT you are expecting the price to be below a certain level by X date.. if you buy a CALL you are expecting the price to be above a certain level by a certain date. the price of each is calculated - TIME TO EXPIRY + DISTANCE = price you pay to buy… IF the price drops at a rate of knots the price for the PUT option will rise accordingly, quickly. So for example, as above, if you choose to buy a 2300 PUT with...
Great info and very well explained.
I am currently learning options to hedge my swing spot trades.

Btw any book you recommended that cover everything for options trading?
More time in the market, does not mean you trade better!
  • #40,714
  • Sep 3, 2024 6:20am Sep 3, 2024 6:20am
Quoting profits7
{image} {image} {image}

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Don’t focus on making $$$, focus on protecting what you have.
  • #40,715
  • Sep 3, 2024 6:31am Sep 3, 2024 6:31am
Quoting Techknow
{quote} Lol, okay. Thanks for your expert advice.
It is NOT an oppinion it actually is the expert advice.

There are 27 (twenty seven) gaps in the EURUSD pair 1MIN chart that have not been closed in 25 years, so yeah... dream on...
  • #40,716
  • Sep 3, 2024 6:35am Sep 3, 2024 6:35am
Quoting NrSLionHeart
{quote} It is NOT an oppinion it actually is the expert advice. There are 27 (twenty seven) gaps in the EURUSD pair 1MIN chart that have not been closed in 25 years, so yeah... dream on...
Do you feel better now? You do you!
TechKnow
  • #40,717
  • Sep 3, 2024 6:46am Sep 3, 2024 6:46am
Quoting eyefeelsix
{quote} this my new sell position has a high potential for a significant drop if the price fails to return to today's high my target profit updated {image}

preparing for bungee jumping don't forget to keep your seat belt on

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https://breakpullback.com
  • #40,718
  • Sep 3, 2024 6:47am Sep 3, 2024 6:47am
Incoming 2484 before data!
Fate goes ever, as fate must.
  • #40,719
  • Sep 3, 2024 6:48am Sep 3, 2024 6:48am
Quoting Techknow
{quote} Do you feel better now? You do you!

You actually have a point ... like if you get results believing in gaps that close ... then do that, it does not actually matter if you are right or wrong...
  • #40,720
  • Sep 3, 2024 6:51am Sep 3, 2024 6:51am
Quoting Fardeen1209
{quote} Great info and very well explained. I am currently learning options to hedge my swing spot trades. Btw any book you recommended that cover everything for options trading?
“options as a strategic investment”

however - you’ll never learn more from reading than playing around with them, as we all know oh so well.

gl
Que Sera
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