k..just there on this one..think i will close now as i have to wash up the dishes..it's not a real profit until i click the close button oh..just a little message on my laptop..closed..bye bye..finished for today J_S
jl..i am done..have other things to do..i don't care what happens now.it can fall down to aussie land..or go to the moon..i am out..i made some money for burgers and bananas..tomorrow is another day.. J_S
one last thing jl..very important..i want to write down as well what the "spread" means..now when you reply to all these questions..think before u write..put ur replies in a logical order with a simple outline..something as follows.. Question 1... Answer 1... Question 2... Answer 2... u need to get into the habit of thinking things in order..no need for all fancy stuff..just keep it simple so that is easy to read and understand..and..if u are a drinker..u best be prepared to cut down on it..and only drink the weekends..u need a clear head when trading..drink fuks up ur mind bigtime..i know..believe me..so no drink when trading..that is a vital agreement if u drink..if not just forget the whole thing..ok J_S
Although I am enjoying following this discussion, and I very much have been enjoying your posts JS, I would just like to mention to the OP that I would find it a bit distracting to go from learning how to trade stocks, which is what you say you can do profitably every day, to looking at options. (not that I know anything about options though) I don't disagree one bit about what you said JS that in the live market, after a few mistakes, your ability to continue thinking rationally is totally shot. But I also know that each time I was looking for a bit of help, I was getting dragged in all sorts of directions, none of which I found all that helpful because it wasn't how I wanted to trade and what I had been looking at. I'm not sure if you guys have had any private messages, so maybe the OP has already expressed interest in looking at other things, but in some ways, I think it would be important for the OP to find a way to actually trade what he thinks he can do very well before moving on to something else, which seems like a drastic change. I find that even guys who day trade stocks have a certain understanding of how their market works, and especially how their specific stock moves, and when trying to apply this to trading futures, whatever is being shown might not work as well, so its of course ideal to find someone to help who is trading the exact same market. Anyway, just wanted to put this out there but I in no way mean to interfere. I'm completely in agreement with you JS that the psychology aspect of this is critical, so in some ways, I think the best start is to see how he would trade in either a live market with some cash, or at the very least in SIM with something on the line like passing an application for a prop firm or similar. It is my belief that trading will very quickly expose your deepest and darkest fears, so bringing this to the surface first, and therefore knowing what needs to be worked on, is I think an important step. (although, perhaps by some slight chance, if someone shows you exactly how to trade so that you start out right, it might prevent bad habits from forming.... who knows... each person is different) Edit: Opps.. by OP, I mean Josh, who started the other thread, but the OP here is obviously J_S
good points kp..but..this young chap does not know what he is doing..he is too young..so..he needs guidance and advice..like all youngsters do..and even more so if he is thinking of making money trading the way i look at it..u trade the way that has the least amount of risk for ur money..forget about everything else that involves high risk..such as ftrs..fx..commodities..etc..and i am sure there are many more things that some of us never even heard of..and..just as well i would say! we are now back to the good saying by the indian chap - no disrespect to the chap, but i can't remember his name..and that is Trading Is Math..It is not Magic the reason i mentioned options is obvious..options have limited risk once u buy them..forget about selling as this exercise is all about jl limiting his risk on every trade so that he can trade long enough to gain the experience he requires in fact..and i am in no way saying i know everything about trading to make money..but..i will say that..if jl is smart enough..and he learns quickly..then he will go on and make much more money that most people on this site..he has youth to his advantage..but his head is not old enough..so he is lost at the moment as for the monkeys..i give them all the 2 fingers..as they are really the idiots who hold back the likes of jl..fukin dim wits who have no clue what they are taking about..go online after reading a few "chapters" and they think they know everything..well..jl dont have to worry about them with me..i am well able to deal with monkeys..being doing it all my life! btw..i don't have a banana for u J_S
fortunately the meaning of this is lost on me agreed... its unfortunate that most of them are failed traders, and while I can understand that failing at something yourself makes it seem impossible, its doesn't logically follow that there is no way for a retail guy who is sitting at home in his pajamas to make trading work. agreed. if you can control risk, not only do you save some money in your account for another day, but you also don't use up too much of that precious mental resource. i look forward to learning about options from this discussion!
k..time to cut the grass..dishes are finished..jl..i expect to see some answers later on..u need to start using ur head..and tell ur girlfriend..if u have one..that u wont be able to give her as much time as recent..due to progressing your career..which i am sure..if she has any sense at all..she will fully understand..as she is the one who will be spending all that money u will make in the future mentor me arse..i am just a simple fool that eventually sees common sense for what it really is..fuk all the hollywood and american shite..again..no disrespect to the yanks..i actually made good money working for an american company for a bit..so i have great respect for the yanks..but i think most of you know what i mean..do not let the false world become ur reality! J_S
you dont know squat and are CLUELESS! stick to your 6th world country and dont worry about us "americans". moron
what is wrong..did i mention the truth and u can't handle it..funny..ain't it..they say the truth hurts..even more so when u know it's true but u can't do anything about it i don't care if jl is american..chinese..mongolian..or transylvanian..he asked me a question and i am replying to his question with an offer of support..free of charge..we are not all out to grab money from every person we see u know..where i come from there is an old saying..as follows what goes round..comes round go figure..and then piss up a rope J_S
Sorry for the delayed responses. I will get back to you on everything however I am working all day so bear with me. Call: option to buy a stock. Put: right to sell a stock. Strike price: price of stock when holder buys or sells. Delta: measures profitability. Theta: the options sensitivity to time.