Garland, That's ok...at least you are learning and starting to...

Garland,

That's ok...at least you are learning and starting to see what i see and how i pick my trades and wait for the right entry. After many yrs of doing this you tend to know what to look for and how it may react etc...i can say that at least 80% of my picks are spot on in my last 12 trades, i got only one wrong, i lost some $$$$ but made it back with my next 2 trades.
This is how i picked the drop on XJO and posted in advance to give posters a chance to get in Friday ready for the drop Monday as it all has occured.

I always get in 1 or 2 days before the actual event otherwise getting in today we have already missed at least 7 to 9 cent rise...from Friday.
Use the parameters on the indicators i told you and try to look deeper into market depth etc...

CBA and ANZ looking toppy and due for a pull back.ANZ looks like the one to retrace more as it has had a SHARP rise up for the last 2 weeks...this is what i look for and trade the sharper run ups or sharp falls...the faster they rise/fall the quicker they will react in the opposite direction.Yesterday was a good entry day.

Look to puts ANZWMP/ANZWMQ CBAWMP/CBAWZR.Try to look at longer dated ones, not ones that expire in July...give yourself at least 2/3 months on a safer bet just incase you need to hold like now and that way you are still in the game.

We must remember, we are dealing simply with peoples Psychology/habits etc.. and understanding how people think and act gives me an insight as to there actions etc....

With NCM and WPL you are on the right track...they are still dropping but will have a quick trade in/out for some CALL play very soon.What we want is a good few days of sharper falls then the CALLS will look good.I will post which CALL warrants to look at on NCM and WPL.

The Puts XJOVOR was 27.5/28 Friday and now at 34 cents and XJOVOS was 39 cents now at 49.5/50cents.These are 2 puts, i personally baught into late Thursday/Midday Friday.
In the next few days i will exit and take profit, do the same on your RIO put.

TRADING IS A PSYCHOLOGICAL ENDEAVOUR, NOT A FINANCIAL ONE.

Cheers,

MINOTAUR.