Hmmm, I still see all of his posts on this chain and you don't? There is nothing wrong with your internet connection. Do not attempt to adjust the screen. We are controlling transmission. If we wish to make it larger, we will bring up the resolution. If we wish to make it softer, we will tune it to a pixel. We can reduce the focus to a soft blur, or sharpen it to crystal clarity. We will control the horizontal. We will control the vertical. For the next hour, sit quietly and we will control all that you see. You are about to experience the awe and mystery which reaches from the inner mind to The ET Limits.
Yes, the devil is in the details, foresight or hindsight? I went long TEVA options in November because my opinion was different from the market's. Or, I thought the market miss-priced the information, Also, as MrScalper taught me, the TEVA charts actually showed that some traders had the same opinion as I. Peace. I am no expert, I was just lucky.
Sorry we digressed. Yes, I agree about defining risk with options. But qxr1011 made a good point in the context of system risks. Regards and best wishes.
No disagreement, you 2 never got the point that a short term price action system has nothing to do with fundamentals or potential news..it will live and die by the sword. Hence the options, DEFINING the risk. Which btw was the whole point of the thread...not the system.
It is far, far better to be lucky than to be smart. Knowing why you lost is never as good as not knowing why you won.
No problem. Actually I did and appreciated your point of limited and defining losses. But I was trying to bring your attention to qxr's point that you needed to also pay attention to the risk of your system. Sorry we were barking up the wrong tree if so ignore my comments. Best to you.
Like spindr0 mentioned before, options are a way to set up stretegic positions. In this case you bet on something happening and that something has unlimited potential profit for you (vs limited max loss). Time works AGAINST you For an Option Seller the bet is usually on something NOT happening for which he/she is paid a max fixed amount and facing a large potential loss. Time works in his/her favor. Most times the option seller will come out ahead except for the times when he/she loses multiples of his max profit. They are both right, it's just a matter of whether you want to bet on something happening or not happening.