Remind Me- What Is That Trade?
It’s a looooooong straddle.
We would be buying the call for 81 and the put for 118.5. Total 199.5.
The Current situation
Well, the FTSE closed at 7343. Another absolute volatility crushing week- in fact VFTSE https://www.google.co.uk/finance?q=VFTSE&ei=IBjOVPhV59nBA4vRgIgK hit an all time low of around 5.5%. This is indeed scary territory. I have not seen this before and by definition, neither has anyone else. Trade 20 has lost a little -possibly around 10.(⇓) This is not unexpected but it’s way too early to make a decision. My last few trades have not done well, clearly there is an issue. I’m not smart enough to trade this new type of market. So let’s find someone who is. The legend that is John Carter. The Fighting man of Mars you ask? No – this guy https://www.youtube.com/watch?v=X5fXOlBbw4E&index=31&list=PLC5ivqitsDCMMwGPB7odEGD3G6Hxo-X21
What’s His View on Low Vol Trading?
I think it’s be worth 50 minutes of anyone’s time to take a look at this. Yes it’s from a few years ago. Yes, John Carter is the real deal, I have met him and seen him speak, twice. This leads us nicely into the next trade but you’ll have to read on for that.
Why Go It Alone?
I have a confession. I have been trying to trade alone for many many years. I have yet to find a mentor but I do have a trading buddy-the co-host here. are on this journey together as real traders who make money,and make mistakes. We are NOT the gurus, we are the conduit to your own trading journey. So we will make recommendations, post links and articles that we like.
it’s the 7375 straddle- which you already know of course. anyway it’s about 155 now. Hold or fold? We need to see some semblance of normality-we have over a month of less than half the daily movements normally seen. I have never seen this in 16 years of trading. Just shows-there’s always something new.