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Selling dax with weekly options put spread

Guest oilfxpro

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Guest oilfxpro
Selling dax with daily options put spread 

I don't usually short sell the indices.On this occasion I have seen a opportunity to buy  the 13450 weekly put.I may lose money on it.If the price shows a trend continuation set up, I will long it as well.


The set up

It has come to top of channel  and previous horizontal resistance, it has risen on thin air without buyers on friday.


The 13450 put has cost me 81.2  , price is at 13455.I may sell a 13300 put for 28.5 at same time, my net cost is 52.7  with a potential reward of 97.3 if price falls below 13300 ,on expiry at end of week..This example is to show how I trade and think.


Anyone following this trade must accept a loss of option premium of 52.7 , short uncovered  option trades are dangerous.


This thread is about weekly  option spreads, this is how I trade them.






trade oportunity.jpg



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Oh dear, just looking at the mql5 forum where oilpro is called out for system hopping by iGoR (well known MT4 programer). iGoR starts his post calling oilpro  'El Cid' which was another incarnation but oilpro helpfully responds as himself. 


The point iGoR is making is the same as we see here on this forum, a continuous flow of new 'systems'.

As with the T2W forum this adventure on the mql5 forum fades because oilpro, in the last 3 pages, just ends up talking to himself.



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Guest oilfxpro



iGOR was an amateur trader, not a programmer.  iGOR is a clear example of the blind leading the blind on forums


 iGoR  is a forum guru/teacher  who thinks  he knows something,  iGoR  is  a teacher like you and the teachers at tradecity.com.He is like many of the forum teachers who know nowt, behind every genius on forums is an ordinary man trying to express himself.He was an amateur, who needs to teach, like all your tradecity  teachers and educators.


Set and Forget Breakout system by FXiGoR



Everything you know about breakout trading is wrong


Yet, breakout trading is one of the first trading strategies many are introduced to in the field of technical analysis.




Don't compare amateurs with a pro, one who can call advanced trades, which you fail to do.

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no, iGoR is a programer and is still active today, he could not find your systems "reliable". Hit the nail on the head when he suggested that instead of posting a new system every week why not trial them for 3 months to see if they do well, then post.


And of course an actual pro is not sitting on a £1000 account after 10 years of trading (system hopping).

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Guest oilfxpro



 iGoR  is a  system hopper,  something you  learnt about yourself.He uses a demo account , and you are his worshiper.










I am sorry Igor. 50 pips is my loss. Never trade before news ! Cheers!



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Guest oilfxpro

This system is making money , but if applied by people, who don't understand when to use systems, the system applied by unskilled traders will not last a week.


I use multiple systems, knowing when to apply each.

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I remind you that when you started back on this forum (September) you were pushing just the one 'system' your long-only dax options and when I pointed out that it could not work in all markets you were adamant it would. After it failed you have since unveiled a stream of 'systems' trawled off the web at the rate of about one a week.   

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Guest oilfxpro

All the private forums are full of trading failures of the 95% club , some of the failures end up as teachers to the new blind, so they become the blind leading the blind.They ban the profitable traders.

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Guest oilfxpro

See your own previous post on this thread. Cost 52, profit 63, on a 115 tick move. Yes, your self confessed failure over the last 10 years is making some sense now.


Says he who can't do, but he who can never make a live call in advance.

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This topic is now archived and is closed to further replies.

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