$SPY Just closed today’s hedge on .spy141122P197, entered
@11:01 AM $4.34 closed at 11:44 AM @4.88, Contracts #35.
Earlier in the week I received a question on how I determine
when to exit a trade. The answer is
simple when I either hit my Profit or loss limit.
The limits are established by entering data points into a
spreadsheet a picture of which follows.
The arrows are generated by certain indicators which I have utilize
and modified for my personal preferences.
The modified indicators come with the ThinkorSwim platform provided by
T.D. Ameritrade, but since the risk associated with Options trading is large I
am not willing to discuss this discipline blindly. The platform is very user friendly and has
plenty of tutorial material, so I recommend to those interested, download the platform
and work at it.
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