But you will not get there with a risk profile like you're looking at. If you would tell me what your 50% or even 30% drawdown is, some of us could give you some pointers in how to limit that...
Yeah paper trading is a great idea to practice for true beginners to learn and see how options move in liquid securities like SPY (as I suggested to someone), especially if you are new to options. It is not to pretend that fills are realistic and one can act like a market maker and serve as proof of a system that one can make 30% a month. Maybe it is not fair to highlight you learning disability since ET is open to all types of traders or maybe you are truly a beginner pretending to be swinging dick. Your lack of comprehension of the English language is not something I can fault you for though the time it took you to search for a post of mine from 2008 you could have actually read the context but that would require some intelligence. Maybe if you thought about how fucktarded you sound claiming to earn 30% a month and act like a market maker using fake price quotes you might stop digging the hole deeper. But go ahead..show us how you can function like a true market maker on paper trading quotes. You can certainly backtest systems and front test systems in paper trading but all of us who have done that know we still cannot discount the real market pricing and fills that simulators cannot replicate. Also this is not real money so it is easy to be emotionless and take a loss knowing you can just hit reset.
You are selling options...sorry to break it to you but Market Makers are not so fucktarded to sell unbounded risks as naked options. Maybe you should look up what market makers do.
You only need one side to be a loser, you know that right... you don't need both sides to lose to lose....or you are not sure what a strangle is... I bet Nick Leeson knows what short strangles are. Maybe call him and ask for some advice.
Damn, that's it! I couldn't quite put my finger on it, but the tone seemed somewhat familiar! Someone also mentioned "botpro", but I couldn't quite connect the dots.
Some people are mixing and misinterpreting things I said. They believe I'll act as a MM. Nope dopes! Just read what I said. It is an evolutionary process. One begins small, and grows. At one point one will be like a MM, that's unavoidable. And: I can also make some series to become a professional/licenced MM or whatever, it's no problem for me. Currently, ie. in the beginning, only some basic elements of an MM is present, especially frontrunning the real MM. But some have interpreted this as 'being a MM' and arguing against me... FU!
I'm comfortable with the risk level I take. Tastes are individual and different. Se be it. If I blow up then it is my own fault. So what! I would certainly not be the first one who blows up his acc. I'll try to prevent it as much as possible, but w/o any risk there can't be any reward...
I'm selling both call and put options, both OTM. What this is called is irrelevant (strangle or straddle or spread or whatever, I think none of these is the correct term for this kind of trading) But I know one important aspect of it: when opening the 2nd side then the margin requirement is only about (even below) the size of the credit, and that is wonderful... And of course the risk halves, that is a mathematical fact... Of course the ratio has to be somewhat equal, ie. about 1:1... Sure professionals use the greeks: delta, vega, etc. In the beginning I'll keep it simple stupid (ie. KISS), because it works!