%% Good points H123; unless he has no personality for rentals Best, wise advice includes dont use leverage until you learn to trade-invest-why leverage ignorance?? Ta 47; your rather detailed question, which is good- shows you dont really know how to be profitable yet. But you could be profitable , not likely with any derivatives , until you learn to trade invest.....
The advice given to young people on this forum sounds like something out of the memoirs of self-made billionaires. I'll join in on the fun. Ok so Tank47. You should start by borrowing money from family and friends, especially the old and the stupid. Then use that to get a loan from a credit union. Then start by buying a Subway franchise. Buy a new retail store every year until you can buy a hotel or casino. In ten years, take all your savings and gamble on ES futures and come back to this forum to brag about your special system. Don't forget to mention that you paid a million dollars for data going back to the rule of Julius Caesar. And obviously you've back tested all of this. I mean why wouldn't you. It's not like you're a gambler. Oh and don't forget to lease some seats on exchanges in three different countries. Good luck!
"Because he, most and I can't do it . But, most , and I , know that a few can. He doesn't." Did Yogi Bera say that?
I don't know much about the option market but I think the option market is relatively less riskier than other markets because you only lose the option premium in the worst scenario. There are option experts around ET, they come here everyday, sharing their fundamental view about certain stocks. I am also trying to expand to trading in option market too. Instead of asking for directions, I suggest you to pay attention to their threads. Babies learn by observing what others do. Same concept here in trading - Pay attention to what they're saying and learn
Okay 3 yrs - all in a bull mkt No discipline..., no trade risk management skills As to the 50/50 balance - two sided (diametrically opposed) responses 1.) it not necessary - and one should still be able to successfully trade 2.) otoh - nothing father from what can (and should) be Need to figure out what I mean with both That you frame losing trades this way - means you do not view them correctly Also means ultimately they will eat your lunch I only had seven losing trades today - still made money Triple it - at a minimum - using proper trading skills 1.) Opinions do not matter in the trading world 2.) Again..., no discipline Starting off underfunded You may not care now..., guaranteed you will after you've lost it Then you'll be back here crying in your beer; bitching about how trading can't be done / you can't cut losers / you have no discipline / no one can trade What you should want (and need) - is a trader's mindset Please..., stop already I have..., take none of it personal - it ain't You're Welcome Sir Now..., go back to square one..., and develop YOU There's a thread hereabouts on how one knows when they are ready to go full time I posted a laundry list..., use it as a check off (admit it is not 100% complete.., but it is adequate enough) ============= The other alternative; keep plodding headlong; to wit..., I..., and my colleagues..., will end up with your 3K Tis always a choice RN
Tank, I don't mean to sound like a jerk, and I hope you will take this the right way and that you will succeed in your trading. But, here goes: in the long haul, you will not make money in the way you describe. You'll have more winners than losers, but on balance over time, your losers will be bigger than your winners. To make money, you'll need an edge. You'll need to be able to predict either direction or volatility, using some method better than chance. Theta is not an edge, though it can look like it for a long time.
Both Bullish bias. Anyhow, don't do it. The covered calls seem safe, but in the end you may collect a lot of premiums but probably will be left with an inventory of very poorly performing stocks with significant capital losses dwarfing the premiums collected. Same with selling naked puts, except a lot more risk.
Oh Lord help any who stray here, there is so much ignorance on this board. The OP explained that he was selling calls and puts. In that case he can - and he will - lose far more than the premium.
On my. If you are selling naked calls, then bearish but you are risking a lot! In general, would not recommend selling risk. Anyhow gotta go.