The Now- Familiar Chain
Reading this should have become second nature, if you have been following us. Which of course you have, as you favour education over gambling. Although I was recently reminded of how people view trading as gambling. Does a baker’s shop take a gamble? An Uber driver? Plumber? What about the betting shop punter? How is trading different from gambling? Note: I make no distinction between trading options, cakes, plumbing skills, or driving. You are trading a skill for money. Yes, you can argue that gambling by betting on horses is a skill. Can you negotiate a bet? No. Can you change a bet during the course of the race? No. Gambling is: taking a chance with zero control. You could do the same with options, or Uber, or even plumbing, But we know how well that pans out. Imagine using your Ferrari to ferry 4 passengers and luggage from central London to the airport? Installing a bathroom with no prior knowledge? Extreme perhaps, but you could trade with no preparation, no plan.
Trade 55 in Review
Well at current value of about 16 this has been an ugly trade . We paid 34 to open, and in retrospect this was very expensive. Would I buy it now at 16? Yes, I would. Reasoning the market is going to get back to its pre-Thursday level, and that higher range 7520-7580.
Trade 56- A Revelation? Or Just a Reveal?
I favour a combo- Straightforward,and bullish directionally. We sell the Dec 7150 put(25) and buy the Dec 7550 call (26.5) for a tiny debit of 1.5. We’d take a profit of anything above 15. What if it goes wrong? We will look at trade repair based on REAL prices. Too many sites promise, and fail to deliver when they talk about trade repair. We try to stay honest, no point cheating, as you just cheat yourself.
trade 55 still has a week to run of course…..
Exactly..still time for it to make money!