A typical statement of someone who wants to appear as a great trader (in options market in particular): I am an ex-market maker. Yet their past (present for current MM if they exist) and their fate proves two things: 1. They know something about risk, as otherwise why did they live only on bid-ask spreads? 2. They did/do not provide a function that requires thinking and creativity. The proof that they do not: they have been replaced by computers, and sent to the upper office (if not to the street office). The next time some MM show up in this forum and pretend they know something about risk and thinking in trading matters, refer them to this thread to answer it. I do not care if these people will not like me. I am here to share about how to make money, not how to make friends. I am sorry, but readers should suspicious to anything that is written and affixed with something that contains the word "I Am a Market Maker" (particularly an ex-MM). BTW, I am NOT a MM. And never visited nor do I intend to visit an exchange. But I might buy a seat one day (for investment and decision making reasons). You can also add: "I Am/Was the Specialist" to the above quote.