Discussion in 'Options' started by turkeyneck, Feb 22, 2012.
Is it a prerequisite to be a good trader?
No. Being a good trader is about finding a strategy that works, and doing it over and over until it does not work anymore. Also, manage your risk/reward and trade like it's a business, not gambling.
Jim Cramer was famous for knowing all of his position's breakevens....in his head.
We are talking dozens of positions.
Unfortunately, when the shit hit the fan it was his wife and partner that had to undo all of Jimbo's damage.
How many strategies do you know on top of your head?
All positions below would be same expiry. I'm not into the more complicated multi-expiry dates yet.
Long Calls or Puts
Short Calls or Puts
Long or Short Straddles/Strangles
Separate names with a comma.