This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I have been following trades from Oscar Carboni’s website. He is a 24 year trading veteran. The initial protective stop in this trade is far wider than I am used to compared to the target in this trade. I am going to trade SPY along with him as he trades the futures contract. I subtract the fair market premium from the futures price to get the SPY price. I get that at indexarb.com. One more thing…..STOPS ARE IN, EMOTIONS ARE OUT!!
SPY Trade:
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
March 30th, 2007 at 5:50 am
zoomie: correct me if i’m wrong, but that looks like about 12 pts ($500/pt/contract) on the es…that would be about 6 grand on 1 contract
if u don’t mind, could u post the R value on subsequent posts…it translates about the same between the spy and es, and it would make life much easier for me
great trade
March 30th, 2007 at 4:51 pm
John, es is $50 per pt/contract. Nq is $20 pt/contract. I played the NQ for today and yesterday and took profits way way too early. Oscar hit the target on the NQ on both days even though he also took profits early.
March 30th, 2007 at 5:00 pm
pn: thx
April 1st, 2007 at 1:12 am
The S&P futrues contract is 500/pt/contract. The ES or e-mini is 100/pt/contract.
April 1st, 2007 at 9:09 am
@T’Worm: The OMNI has been pulling 8-10pts from the ES for 8 of the past 10 sessions. That’s $400-$500 profit from one single ES futures contract.
I didn’t have the guts to follow the OMNI because of his wide, wide stops (6pt stops or MORE!). Oscar, of course, says don’t worry about the wide stops, it’s just part of his style of trading. Unfortunately, I come from a world of tight stops and small losses, which probably explains the problems I’m having adjusting to the OMNI’s style of trading.
Still, 8 out of 10 possible profit days is a pretty impressive track record. Even assuming you lost 10pts on the two losing days, and a mere 6pts on the winning days, that is still NET +28pts over 2 weeks !!!
April 1st, 2007 at 11:45 am
phileo: wide stops are difficult for me to handle also…however, it sounds like his win % is extremely high
April 3rd, 2007 at 3:00 pm
ES is $50 per point per contract and the big contracts are $250 per point per contract.
April 4th, 2007 at 10:35 pm
phileo just do it!!!