Friday, January 20, 2012

Monthly Disclaimers and Books to Read

Monthly Disclaimers
1. dont start bitching if we both lose money. when you start paying me $19.99 a month to follow trades, then you can bitch

2. make up your own mind if trade fits your goals, don’t put it on just because I do. that would be stupid

3. have your own risk / reward system. mine is to hold to expiration if necessary to let stock recover.  i dont use stops on spreads.
4. Decide for yourself when you want to exit the trade. dont wait for me to close mine. have your own profit % target before entering trade.
4a. Don’t ask me what im doing with XYZ trade, when I close it ill post it same day. You want real time, that will be $19.99
5. dont expect my tweets to be real time.Ive only got desktop monitor and notebook
5a.  and those are for stocks, porn, surfing, email, etc. tweets may be hours old
5b. Besides you shouldn’t be hanging on my every word on what to do. Just like anyone else on twitter, fast money, or cramer.
6. questions / requests will be answered if im not busy ,but expect you to have basic knowledge of technical analysis and option spreads
7. any charts /notes i post are to get thoughts going about entry points and for discussion. use your TA to confirm mine
8 . most importantly-if a trade doesnt feel right in first 5seconds of looking at it(gut check) i pass on it.
9. My Gut over rules any previously tweeted metrics or strategies or entry points
10. Comments / questions in ALL CAPS will not be replied to.
11. I determine profits as percent of max gain. making $850 out of max potential of $1000 =85% gain. knock yourself out if you do ROE style
12. If all you want to do is Argue with me instead of take my 2cents as A tool in your investment toolbox you get ignored or blocked.
13. if you are going to tweet me every time your stock drops 1 point you will be ignored. put on your big boy pants if youre going to follow
14. if you don’t like my daily avatars, youre gay.

14a. if you dont like this video then you are gay
15. if youre tweets are protected you will get blocked. sharing information is 2 way street.
16. No I will not manage your money for you, but if you did good following mine, you can send me a donation to my paypal account  
17. You can follow my open credit  spreads at profitly, will update when I can. Diagonals/ short calls / and ratios are not posted there.
17a. But admittedly I am losing interest in profitly, tweets will likely be more current.
18. If you are going to follow me into trade/like the idea , have the courtesy to tweet it and mention me. don’t just be a lurker.

19. Im putting alot of effort into providing info in the blog..if there is something you like retweet the setups and charts.
Try these books if you are starting out:
- The complete guide to option selling : how selling options can lead to stellar returns in bull and bear markets by James Cordier
The option trader's guide to probability, volatility, and timing by Jay Kaeppel.
How to make money in stocks : a winning system in good times or bad / William J. O'Neil.
How I Made $2,000,000 in the Stock Market by Nicolas Darvas
100's of free Trading Books in pdf format: