A Call to Action.

In just over two months, we have racked up 50 blogs, featuring over 30 members of TradeKing's great Community. To boot there were over 5000 views to date. The All-Star Trades blog has been recognized outside of TradeKing too with a recent mention in Business Week. Thank you! Thank you! Thank you! We could not be more pleased with the response this blog has received.

As you know the aim is to provide commentary and insight on our Community members' trades. There are three main goals for this blog:

If it's one thing this blog was never about is looking back and relishing what was. Although we like to recognize what was done well, we're always looking to improve going forward. Today is no different than any other day. This milestone is not about getting nostalgic; this is about getting better and better.

With that in mind, I got to thinking that in order to get to the next level, and deliver an even greater product, YOU the reader play a large role in that endeavor. Allow me to explain. As I have said many times, this blog would be nowhere if it weren't for the many Trade Notes that the Community writes every day. But since the blog is based on content written by others, that content must also be improved in order for both to benefit.

The obvious question becomes what makes a first-rate candidate for the All-Star Trades blog? I took some time to ponder this idea and have laid ten factors that play a role when choosing a Trade Note to discuss.  Keep in mind there is no exact recipe and the importance of each item changes each day. They are not in any particular order, but they are all used with the goals of the blog in mind.

Use this list as a guide for what to include in your Trade Notes and blogs. If you do, I may just catch your next entry!

Your weapon of choice - Stock versus Options

Option trades are usually more involved than stock trades, so options tend to be chosen more frequently.

Share the Wealth - the member who did the trade

We try to spread the love around by choosing different traders each time. However some members contribute more content volume than others, so they might have an improved chance of having their Trade Note selected. On the other hand there have been several one-note wonders chosen for this blog. Also some frequent note writers expound more on their ideas than a few words, leading to some having been chosen twice. Still others have had multi part series written about their trade. This is done when there are several key issues that must be covered, while trying to keep the length somewhat bite-sized.

Single options versus Spreads

Spreads are more commonly misunderstood, so naturally there are more things to discuss.

Setting Targets

Some do not like to set targets for fear of being wrong. Here's a little secret - trading is not about being right, it's about making money! Providing goals for your trades may help you do this and improve the blog at the same time.

     target price for your security (stock or option)

     target price for the underlying (if trading options)

     target time frame

Analysis and Reasoning

Whether rave reviews or refining your reasons, both are ingredients in a good post. Flawed or not, we want to know what your thinking is. If the reasons you list are warranted, you will be showered with compliments. If your methods need some beefing up, so be it. The best way to duplicate a successful trade is to know exactly what was done right. As we all know, sometimes you can do everything "right" and still lose. The market does have a say in all this, after all. Also, what sources did you use to make this trade? Tell us about it, even if using a resource outside of TradeKing.

Option specific analysis - did you look at the Greeks to make your decision? What about implied volatility? Did you consider more than one strike or strategy? We would love to hear about it!

Degree of Preparation

Did you mention possible scenarios before diving in? Have you drafted Plan B (or Plan C) if things go awry? Think and plan ahead.

Open positions versus closed ones

Both have their merits. It's best when both the entry and exit have a Trade Note. This tends to provide a great deal of insight to the Community.

Community Interest

Did a certain trade garner many comments? Are a few members blogging about the same trade? Are several people trading the same symbol? Is something hot in today's news? These questions add to the mix as well.

Bullish versus Bearish

This has to do with the current market environment. If the market is in the midst of a rally, there will be more bullish trades, and therefore more bullish Trade Notes. In a down market, just the opposite will likely be the case.

Timeliness

We try to use the trades that occurred within a few days of posting if not the same day. Sometimes there are reasons to go back further. Maybe there are repeated trades in the same underlying. Perhaps this is a longer term position. Possibly the trade is a classic without regard to the here and now. All are factors in selection. Please try to write your note while the idea is still fresh in your mind.

What was that you say? You're not posting Trade Notes yet? Join the party! Get started with Certified Trades today!

In closing, this is all about a Win-Win-Win scenario. Higher quality Trade Notes will lead to more in-depth All-Star blogs, which may in turn lead to more profitable trades for YOU. Sounds like a winning combination to me! I call to you to step up the quality of your Trade Notes, so that we may follow in your foot steps with improving the All-Star Trades blog. Will you answer that call?

--Nicole Wachs

TradeKing Staff

All-Star Commentator

For a list of previous All-Star Trades, please click here.

Options involve risk and are not suitable for all investors.

Please read Characteristics and Risks of Standardized Options.

The Greeks (Delta, Gamma, Theta, Vega, and Rho) represent the consensus of the marketplace as to the how the option will react to changes in certain variables associated with the pricing of an option contract. There is no guarantee that these forecasts will be correct.

While implied volatility represents the consensus of the marketplace as to the future level of stock price volatility or probability of reaching a specific price point there is no guarantee that this forecast will be correct.

Any strategies discussed and examples using actual securities and price data are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or to engage in any particular investment strategy. In reading content in the Community, you may gain ideas about when, where, and how to invest your money. Although you may discover new ideas or rationale that may be compelling, you must ultimately decide whether or not to put your own money at risk. Consider the following when making an investment decision: your financial and tax situation, your risk profile, and transaction costs.

Image: 50 candles by Lee Ortiz