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NO CHANGE IN THE STANCE ON BOND BUYING: If economic conditions improved broadly as expected, the Committee would moderate the pace of its securities purchases later this year. And if economic conditions continued to develop broadly as anticipated, the Committee would reduce the pace of purchases in measured steps and conclude the purchase program around the middle of 2014.
Was wondering if you could share more info with me about your risk management in your trading system.
1) Do you have a criteria with closing a lossing positions (margin, PL or smth else)?
2) Do you have a statistics of your average profit and losing position?
1) I generally look at the excess margin I had when I put on the position. If that is used up then it is time to move on. But I don't strictly adhere to that. I look at why the position has moved and use that to determine whether to stay or leave it. But it takes years and years of experience trading to get to that point. I have been trading 15 years.
2) For 2012 Short options - 746 trades of 5,034 contracts = 150k net profit. A lot less contracts than 2011 but more profit. 99.7% winners.
2013 will not be as good. Lost big money on $200 2 day GC crash.
So far 730 trades of 8,211 contracts = 159k net profit. 95.5% winners.
Average net profit
2012 $30/contract.
2013 $19/contract.
2013 Partial Details
KC 2,638 contracts 74k net profit 100% winners all rode to expiration.
CL 1,646 contracts 67k net profit
ES 1,071 contracts 28k net profit
Robby, HALIFAX is a full service retail brokerage. There are more wholesale brokers in AUS that reflect the similar margin requirements for OX that Kevin posted. BBY and AXIOM are two alternatives. But as full service brokerages the commission are much higher than OX.
Gives motivation for beginners like me that this method with risk managment works great. Unfortunately, I still try to daytrade and day in and day out get burned. Live and learn.
I hope that is the case since you have those puts on. I can't believe what has happened in the last 2 days. Before that I was preparing to take a small loss on my 120 calls.