Chef,it doesn't seem like you intuitively understand the subtle differences,and part of it is that you haven't traded a ton of them Alot of this is a feel one develops as well as an ability to spot a relative mispricing. Looking at the 100/105/110 fly vs the 100/110/122.5. 1x3x2,what factors would you take into considerstion?? Sims are great,but you wont learm how to trade...imho
Yah. That's a solid truth. And you just might find out you're not suited to it. In fact, that's really the only way to find out. I came in thinking trading was just (or mostly) a matter of being smart and being able to learn quickly; these days, I think of it more like fine carpentry. Sure, there are lots of fairly complicated things to learn - but they're not the thing itself; that's just the basic requirement, the time and effort that you pay so you can get to practicing the skill of trading. That's much along the same lines. You can be a pretty good commercial artist and make a steady paycheck if you learn the techniques well. But you're not going to become Michelangelo no matter how well you learn; past that basic level, you have to be, or at least have the capacity to develop into, something more than the ordinary.
I’m not at your level but when realizing that vol was an extra profit opportunity to be made on an overnight position, it almost feels like you’re leaving money on the table by not embracing vol.
Took me 3-4 years, countless hours reading, analyzing and went to school (Coursera) to figure out basic 121 butterfly set up. I hope it won't take another 4 years to understand the subtle differences between 121 and 132. That is a distinct possibility. So far I completed 12 butterflies. Set up 5 new 121 on Friday. I will know soon enough. I am no Michelangelo, don't want to be one, only want to learn how to painting, as an amateur.
I like the 2:3:1 on high IV longer term 30 DTE plus. You can then sell a vertical against it and turn it into balanced 2:4:2. My thinking at the moment.