While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
We purchased half our position (Bought 25... 28 FEB 36.50 USO PUTS) on the opening today @.25 cents.
We're placing an order to buy an additional 25 Puts @ 1:30 EST.
This is an order to buy @ the market at a specific time.
If your broker is not able to handle a time order just have him buy an additional 25 Puts @ the market @ 1:30 EST
You'll then be long 50 Puts with a max loss of app $1250.
50x100x.25=$1250
For Glossary of terms and abbreviations click here.
