Thanks for the reply Profitaker. Although you have not apologized for calling me a very rude name, I am willing to overlook that once you agree to stick to the topic of the thread and also not start bullying or mocking me again. It would be helpful if you can post the links to what you are referring to on trade2win, as atticus done for his off site references, and then the readers here might have some idea of what you are talking about. Once we have the links we can then review the details for you and revert with our opinion. Cheers. Derivman
My Dear atticus. This thread is not about "otm ftse pots". It is about "Buying calls for a living". I will ask the moderator to move any off topic posts to the relevant threads so that the correct discussion can be had by Elite members. Cheers. Derivman
Thanks for the reply A Dashing Blade. I am beginning to see a pattern develop on this thread. We now have three members of Elite continually trying to put this thread off topic so that it will be moved to the "chit chat" section. I am not sure why this is happening, but I will do all in my power to stop it. Please refrain from posting any more off topic information, and if you really do believe that any off site information is relevant to this thread, then please have the decency, like atticus, to post the links to what you are trying to explain to the readers. None of us are able to read your mind, as far as I am aware. Cheers. Derivman
Thank you very much anti ad hominem. At least we are now starting to discuss something that is related to the thread topic. Your efforts have not gone unnoticed. I will now review your post in detail and respond accordingly. Again, thank you for taking the time to post your honest thoughts. Cheers. Derivman
My Dear MajorUrsa. You are free to go where ever you like. You can always put me on ignore if you like, or go and start your own thread in the "chit chat" section. This thread is about "Buying calls for a living", and if you persist in your efforts to derail it, then I am sure that it will only be a matter of time before you are told to stop. What you, and certain others are trying to do, is not in the interest of traders who are trying to better themselves. From what I have seen to date, there are a certain few people here that are out to do nothing but disrupt threads. You don't see me imposing myself on anyone else's thread, yelling and shouting that this thread should be sent to the "chit chat" section. You must either grow up, or shut up, and I am not sarcastic, I am just very honest and open with you. You and the others are not helping Elite Trader fulfill its function as a public forum where traders can openly discuss trading related matters that are of interest to them. As a matter of fact, what you and certain others are trying to do is nothing short of bullying. It should not be allowed, full stop. Cheers. Derivman
Good to see that you're now willing to post some answers to questions. So let's start with your answer to the 'number one skill a new option trader needs'. Go ahead and enlighten us all. db
6 replies this morning and zero content about options Again, it is not your job to respond to every post in this thread (especially to those that arent even talking to you) nor are you this moderator of this thread. Just get on with talking about options and stop with all the meaningless fluff which is 99% of what you have posted. Time to request again that this thread be moved to chit-chat since you do not seem to be interested in any real discussion:
Again anti ad hominem, I thank your for the reply. Here are some of my thoughts. Quote from anti ad hominem: Hehehe. Now you really are making me laugh. There are only two things you can do with options. Buy them & sell them. Simple. You have to understand what you are actually doing when you do either or both at the same time - with respect to your risk (ie:greeks). I have met hundreds of traders who have dedicated hours to learning 'strategies', rather than to trade options. With monotonous regularity either blow up or bleed to death. Why? because they do not understand the underlying premise of the instrument they are using, so they have no clue how to manage the risk. A la the little time bomb that went off at T2W. ALL good traders trade POSITIONS, not STRATEGIES. The difference is the former comes from the perspective of a complete acceptance that ultimately we have no idea where the underlying will actually go, only an opinion, the latter usually a conviction that they do, based upon one thing or another. It is only the knowledge of how options work that will allow you to assess whether or not to go ahead with a position & reliably be able to trade it to profitability as the market has it's way with the underlying. It is only through knowing how to respond to risk as it emerges once a position is on that gives a trader even a chance of consistent profitability. WRT to your assertions about luck. Unless and until I can be convinced that I have absolute control over everything that happens to and around me, I will continue to side with Taleb, esp given his pedigree (intelligent & educated - aren't you the master of understatement?! LOL). I know many people who have followed the "success" teachings of people like Kyosaki etc etc who will be wildly financially successful the day hell freezes over. And I know others who literally stumbled on great success and wealth (by their own admission!). There just isn't a formula to assured success & as the old saying goes 'sometimes sh!t happens.' - good, bad & ugly. What Taleb is talking about more broadly is our lousy ability to attribute cause to effect. We point to attributes and actions as creating success that a proper statistical analysis of a random population will show simply are not defining factors. And I am not going to argue with Taleb on statistics!
No, it's not. It's all chit-chat about how you had a wonderfull day and a few cosy hours with your instructor and that you will 'now' respond to some previous posts, and that you will report us to the mod and that you will NOT report us to the mod and that you will shortly formulate a very important question and that you, before replying to the response on that question will first lookup the links and that you have found the links and will shorly start to read them and.... and.... Anyway, it is not about buying calls for a living. It is chit-chat and that is where it belongs. The only worthwhile posts in this ridiculous thread (your instructor should be ashamed) that are on-topic and are non-chiichat are those by some regarded and knowledgable members of this community. NONE by you, Ursa..