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Friday, November 25, 2011


Les anexo las REGLAS de TRADING que anualmente publica Dennis Gartman en el dia despues de Thanks Giving>
 
 

THE TWENTY RULES OF

TRADING: 2011

1. NEVER, EVER, EVER ADD TO A LOSING POSITION: EVER!:

Adding to a losing position will

lead to ruin. Count on it. All great market humiliations are

first preceded by one man or one group doing precisely

the opposite of this important rule: Ask the Nobel

Laureates of Long Term Capital Management; ask Nick

Leeson of Barings or, in the more modern world, ask Jon

Corzine!!

2. TRADE LIKE A MERCENARY SOLDIER: As

traders/investors we are to fight on the winning side of the

trade, not on the side of the trade we may believe to be

economically correct. We are pragmatists first, foremost

and always.

3. MENTAL CAPITAL TRUMPS REAL

CAPITAL: Capital comes in two types: mental and real,

and holding losing positions diminishes both the finite and

measurable real capital and the infinite and immeasurable

mental capital.

4. WE ARE NOT IN THE BUSINESS OF

BUYING LOW AND SELLING HIGH: We are in

the business of buying high and selling higher, or of selling

low and buying lower. Strength begets strength; weakness

only more weakness.

5. IN BULL MARKETS ONE MUST TRY ONLY

TO BE LONG OR NEUTRAL: The corollary,

obviously, is that in bear markets one must try only to be

short or neutral. There may be exceptions, but they are

rare.

6. “MARKETS CAN REMAIN ILLOGICAL FAR

LONGER THAN YOU OR I CAN REMAIN

SOLVENT:” So said Lord Keynes many years ago and

he was… and is… right, for illogic does often reign,

despite what the academics would have us believe.

7. BUY THAT WHICH SHOWS THE

GREATEST STRENGTH; SELL THAT WHICH

SHOWS THE GREATEST WEAKNESS:

Metaphorically, the wettest paper sacks break most easily

and the strongest winds carry ships the farthest, fastest.

8. THINK LIKE A FUNDAMENTALIST;TRADE

LIKE A TECHNICIAN: Be bullish when the technicals

and the fundamentals, as you understand them, run in

tandem. Be bearish when they run the other way of

course.

9. TRADING RUNS IN CYCLES; SOME GOOD,

MOST BAD: In the “Good Times” even one’s errors are

profitable; in the inevitable “Bad Times” even the most

well researched trade shall go awry. This is the nature of

trading; accept it and move on.

10. KEEP YOUR SYSTEMS SIMPLE:

Complication breeds confusion; simplicity breeds

elegance and profitability.

11. UNDERSTANDING MASS PSYCHOLOGY

IS ALMOST ALWAYS MORE IMPORTANT

THAN UNDERSTANDING ECONOMICS: Or

more simply put, “When they’re cryin’ you should be

buyin’ and when they’re yellin’ you should be sellin’!”

12. THERE’S NEVER JUST ONE

COCKROACH: The lesson of bad news is that more

shall follow… usually hard upon and always with

devastating impact.

13. BE PATIENT WITH WINNING TRADES; BE

ENORMOUSLY IMPATIENT WITH LOSERS:

The older we get the more small losses we take… and

very willingly so.

15. DO MORE OF THAT WHICH IS WORKING

AND LESS OF THAT WHICH IS NOT: This works

well in life as well as trading. If there is a “secret” to

trading… and to life… this is it!

16: CLEAN UP AFTER YOURSELF: Need we

really say more? Errors only get worse.

17. SOMEONE’S ALWAYS GOT A BIGGER

JUNK YARD DOG: No matter how much “work” we

do on a trade, someone knows more and is more

prepared than are we… and has more capital!

18: PAY ATTENTION: The market sends signals

more often than not, often times missed and/or

disregarded… so pay attention!

19: WHEN THE FACTS CHANGE, CHANGE!

Lord Keynes… again… once said regarding an investment

he had changed his mind upon that “When the facts

change, I change; what do you do, Sir?” When the

technicals or the fundamentals of a position change,

change your position, or at least reduced your exposure

and perhaps exit entirely.

20. ALL RULES ARE MEANT TO BE

BROKEN: But they are to be broken only rarely and

true genius comes with knowing when, where and why!

Thursday, June 2, 2011


Este es un trade a 6 meses que ilustra la fuerza de un SHORT IRON CONDOR.

Dec iron Condor 1

 

 

Dec iron Condor 2

 

 

Dec iron Condor 3

Wednesday, December 31, 2008


La Meta de este ejercicio es poder cobrar el DIVIDENDO "Jugoso" de algunas acciones al quedarnolas solo por 1 dia.. y vendiendole calls a nuestra posicion para aguantar la bajada que viene en el precio de las mismas cuando llega el EX DIV date..
 
EXPLICACION:
 
Como cobrar el DIVIDENDO de una accion.
 
Para cobrar el dividendo de una accion debes comprarla un dia antes de EX Dividend date.
 
1) El EX DATE es el 1er dia donde los que compran la accion no reciben el dividendo.
 
2) El Record Date es 3 dias despues de EX Date.... que los que salgan en esa lista cobran el dividendo y ademas sale registrado en un brokerage account, o tu cuenta en la casa de bolsa.
 
3) EL MUST OWN Date  es un dia antes del EX Date,,, para que seguro que puedas cobrar el dividendo
La puedes vender un dia despues del EX Date para cobrar el DIVIDENDO.
 
Para poder ver el EX Dividend date de una accion ... lo puedes ver en este sitio...
 
 
 
EJEMPLO con US Bank "USB" 7% de Dividendo anual:
 
Este es un EJEMPLO real que hice la semana pasada para cobrar el DIVIDENDO..
 
EX Date de USB era Jan 29.
El Record date es 3 dias del EX Date es decir Jan 1st.
El Must own date es Jan 28 un dia antes del ex date.. pero como es domingo hay que comprarlo el viernes Jan 26.
 
El Viernes 26 Un dia antes del EX DATE COMPRE >
Compre 100 Acciones de USB el viernes 26 por $23.70 = $2,370 USD
Vendi 1 Call de Jan 20 de USB por $3.90
Es decir traigo proteccion a $20 si baja USB
EL dividendo es de $0.43 centavos 4 veces al ano.
 
El Martes 30 un dia despues del EX Date... VENDI >
Vendi 100 Acciones de USB a $23.56 es decir les perdi 14 centavos = (-$14.00 USD)
Recompre el Call de 20 a $3.75 es decir le gane 15 Centavos = (+$15.00 USD)
En resumen sali a mano en el TRADE (+10.00 USD)
PERO... me hice derechohabiente al dividendo de $43.00 USD
 
Retorno de Inversion por 4 dias>
$43.00 (Del dividendo)  +$1 (del Call)  = $44.00  / (entre mi costo) $2,370  = 1.8% en 4 dias.
 
 
ADVERTENCIA>
OJO la EXPLICACION ANTERIOR es un SIMPLE EJEMPLO de como UTILIZAR ACCIONES Y DERIVADOS para poder lograr una meta pre establecida.
NO ES UNA RECOMENDACION para comprar o vender NINGUN INSTRUMENTO FINANCIERO.
Es un simple ejemplo ilustrativo.








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