Thursday, August 30, 2007

Perfect conditions

I live about 30 min from the coast. Being here in Northern California the beaches are not exactly inviting at all times. During summer months the water temp persists in the 50s with frequent fog lingering along the coast. That means 50s-60s at the beach not counting any wind chill.

So to ensure pleasant experience for my family, we head to the beach with the little ones only when:

Its scorching where I am, in the 90s.

and

Its at least 70s at the coast, overcast ok.

and

Wind less than 10mph at the coast

and

At least 2 hours of day light to accommodate for possible traffic

Optional filters

  • Weekday a plus, no crowds (best visits turn out to be weekday visits)
  • Low tide a bonus
  • Small to calm wave action a bonus

If the conditions don’t pan out but it’s scorching, plan B is always head for one of the inland lakes. Its about an hour out but it’s an alternative.

Today was such a day for the beach. Had a great time at the beach with family, no crowds, no wind, low tide, calm waters. There were plenty of mole crabs (a.k.a. flea crabs) as you dig thru the sand. They don’t bite and kids loved them.

I wait for the perfect condition b4 making a trek to the beach.

Another way to think about this is I wait for the conditions to COME TO ME or I do something else.

Do you have your criteria for the perfect trade setup?

Do you absolutely DEMAND for the right conditions b4 entering a trade?

Do you wait for the market to come to YOU or you don’t trade?

Among other trades, I have been stalking a particular ONXX ratio back spread for a few days.
I am firm on my limit entry price or I am willing to let it go. Its getting too close to options expiration for the sept spreads.