todays trade

[rdking647]

sold the DECK that I bought last month. I originally was looking to $95 in the short term. after I bought it the stock dropped further and I doubled up. The stock has since recovered and i higher than my original buy price. I still like the stock but a warm winter combined with todays earning warning from tiffany makes me a little wary of a luxury boot maker. Better safe than sorry and ill take the 4% total gain I have

[rdking647]

1. got short CME

i think the MF global fiasco will hurt them alot. bought june at the money puts limit any potiential loss

[dixiegrrrrl]

2. So, overall, how did you do in 2011?

Are you trading full time, or do you have non=trading job or jobs?

Naturally, you need not answer these somewhat personal questions, I am just curious.
And wondering if I have the fortitude to be a day trader....

[rdking647]

3. overall up slightly over 5%

i wouldnt call it a full time job but its all I do.Most days I spend 2-3 hours in front of the computer looking for oppertunity. A lot of what I do is managing my portfolio. I spent over 20 years on the floor at various exchanges as an option trader. I left the floor about 5 years ago.
I'm not a day trader. For the most part I think day trading is a way to lose a lot of money. your expenses are just to high. When I was on the floor I was a market maker and traded very large volume hoping to make a small profit on each trade. My expenses as a member of the exchange where very low so I could to it profitably.
Now I just look to make a decent return on my overall portfolio. I strive for a 8-10% annual return.

[A HERETIC I AM]

4. Heaven forbid you post this sort of thing in GD on this website.

You'll be pilloried.

What floor were you on? NY? I envy your experiences.

If I may...and you are of course, free to post anything you wish, suggest you add the occasional disclaimer to your posts?

If you were licensed, then I am sure you are aware of the dangers of looking as if you are giving buy/sell recommendations in your posts.

I just think it would be prudent if you were to mention occasionally that you are just reporting what YOU did, and are in no way suggesting others do the same.

I would think you might agree this is a reasonable suggestion.

May all your trades be net gains.

[rdking647]

5. at various times I was on the floor

of the comex,nymex,Csce,Cme and Cbot.
Im not to worried about being pilloried in GD. after all the floor gives you a thick skin


as to a disclaimer,thats why i use the title todays trades.

[A HERETIC I AM]

6. So you did open outcry trading in a pit?

Fascinating.

[rdking647]

7. 20 years of yelling and screaming

which is probably why my hearing today is as bad as it it. One of the reasons I left is because i didnt want to trade on a computer. having to watch a group of monitors all day is not something I wanted. I figured by now the floor would be gone for option trading as well as future trading but that hasnt happened yet. either way im not sorry I left. The floor is a pretty nasty enviroment