Because it is very easy to collect premium while they time decay, the key is to manage what happens when the shit hits the fan.
In his autobiography, he pretty much said he was losing money for 10 years until he got his act together. I'm sure it was a bit more than just moving averages in play.
Was it 41,000 or 14,000? The initial post says 14,000. It may not matter since if he sold naked calls then he might've been partially hedged using something else. But it's also possible they were just naked calls. Because it's a popular and powerful strategy to sell weekly UVXY calls, when it works. I don't know anyone converting this strategy to trading futures, which could be complex because UVXY is already based on rolling VIX futures. So UVXY does the rolling of VIX futures for you and its purpose is to make this easier and not need to trade futures. But I guess there are plenty of other futures-based strategies. If he used futures then someone else would've asked why he didn't short UVXY calls like many other people do. It's the simplest thing you can do. Again, when it works...
he made his money of insider info. If you read PitBull he camouflaged it there, but it was pretty obvious, when he was describing "inside skinny" or what ever he was called. Been a while since I read the book.
Is that confirmed? I recall at least one other saying the same thing. I don't recall Inside Skinny. It's been a while... I thought he made most of his money day trading the pit traded S&P futures.
I seem to recall some newer interview with Marty where he commented that he probably would not be able to make money in today's markets, i.e., index futures, like he did back in the day. But don't take my word for it. Just something I seem to recall. Always liked the guy from both his own book and in Market Wizards.
correct. Heard that too. He also covers it in his book, he found a pattern they worked for a while and then stopped.