Asking for help/opinions from option traders

Discussion in 'Options' started by awadethomas, Sep 16, 2019.

  1. As an option trader myself who's been also "working for The Man" and developing his own tools, I've my own set of requirements from a tool for "option traders":

    1) First and foremost it should make me money... eventually.
    2) Well ideally the tool should also tell me what to trade to make money, lol :)
     
    #11     Sep 17, 2019
    tommcginnis likes this.
  2. Seriously speaking, making money in trading is very "proprietary", meaning everyone who does it is very secretive on it and for the right reasons. So there's little in the way of "what SUCCESSFUL option traders need" which can be shared among a wide market.

    My take after may years of trying though, is that there are objective things that hinder my attempts to make money by trading.

    So my first and uttermost problem that I can share with other fellow traders and NOT SHARE MY COMPETITIVE ADVANTAGE apart from that is RELIABLE MARKETDATA. For the cheap of course. I guess if you buy a $50,000 / year subscription from Reuters you don't have this problem to my degree at $500 / year but I can't afford that.

    Therefore question to my fellow eat-your-own-dogshit traders: how many of you would double that money that you're paying anyways for crappy data in order to transform it into reliable data? If enough of you so that I can make a living just working on that (about 100 guys that would be), then I'd quit my crappy dead end high paying job tomorrow and concentrate on what would make us billionaires. Well all the 100 of us together, not individually counted of course, but that's good enough for me both as average yield and individual chances of making it to the top :)
     
    #12     Sep 17, 2019