Successful options trading requires just impeccable timing. Otherwise (on long positions), your position just melts away into nothingness. That's why it usually best to be on the short side.
I can't imagine any successful trader(over 7 or 8 digits) ever considering profits as house money. Sounds more like something Cramer would pitch to the masses.
House money is what the house has won. The money you are up has a very descriptive name - your money. If you have a hard time keeping track of that concept you are at a serious disadvantage.
whenever I see someone reference 'house money' or the 'tracks money' I know I'm dealing with the clueless.
This reminds me of a sale I made on Ebay. It was a hybrid "In the waist band/out of the waist band" holster. Because the stupid buffoon couldn't figure out how to unsnap the belt loop holders and reconfigure them he accuses me of selling him something other than what was advertised. IOW because he can't do it nobody can.
emg's post count is probably actually 4, if you subtract all the posts where he spams this line, preceded by more glass half empty thoughts.
You must be very new or one of those folks who never change ( the TA cult from 1990s) to honestly believe bots never chnge thus leave predictable "footprints". bots are built to evolve and constantly change thus the effectiveness. Please stop leading others down th primrose path with ignorance. Day trading is not dead but your version of it is long gone. Traders, be ver cautious of those who speak from authority but don't understand he most basic market premises. There's a psychological or monetary motivation to these types of misleading "fact" statements.
emg Registered: Feb 2010 Posts: 2964 12-16-11 11:26 AM More than 90% of small traders lose! They just lose! Tell us something we do not know!
You are correct, I am quite new, having never traded before 2008. However, in the 2 years since I learned to trade price action, certain price patterns have resulted in minimum price moves with such a high rate of positive expectancy that I believe programmed trading has to be responsible. Institutional traders and investors move price, not small retail traders, and these large players tend to utilize programs that trigger buying and selling. If you have a better explanation of it, please share. My mentor's been trading for a couple decades and he's provided me with ample charts showing the same price action setups I use to trade. So these patterns appear to have been working much longer than just the brief time I've been trading this way. FYI, I do not care one bit if my version of day trading is long gone because it has produced an unbroken run of profitable days as long as I've been aware of it. Just as I don't care whether my mentor has ever traded, or whether Al Brooks has ever traded, or whether Mark Douglas has ever traded, or whether Jack Hershey lives with a llama and has a tax lien against him. Every one of these folks and the "cults" they promote were key influences in my current profitable understanding of price action.