It wouldnt be any fun if all we did was talk trade- we need someone to make fun of once in a while. Think about it. We need all sorts of people here- experts, novices, intermediates and downright idiots to make this a fun place to come by on the internet. If we banned FF, it would be boring. I like laughing. I'm sure the mods and others do too. If you don't like FF, ignore him. Or tease him (or her? it?)
There is actually a Feedback thread on it. I think Stock777 started it. I personally think he should have been banned for it as well. But remember, he puts the ELITE in ELITETrader. If he were banned the site would only be Trader.com
Could you provide links to these "provoking posts", I can justify all my posts. Funny how a simple post with a GOOG screenshot and no text can hit a nerve with Atticus, images can be very powerful at times. Why would the mods object to the GOOG screenshot?
We also object to your large font. It's annoying. If you go back to regular normal font, we're cool. Simple.
The thing is subhuman. No self-respecting individual would edit a trade and boast about a win. No legit trader would do it nor allow it to stand (ET moderators).
Not to mention, he just replied on here saying he would be willing to change his annoying font.. that he could agree on such "requests". And then deletes it.
What a relaxing day today. I was wondering about my chart, that showed an extra daily bar on it, what happened? Then the wife phoned this evening and asked me how the trading went? I told her I didn´t even look at the trades today, it was Saturday. She said no, it´s Friday. So, that explains that extra daily bar appearing out of no where. In the meantime, my computer clock seems to be out of whack as to what day it is. But my PUTS recovered their losses almost to break even. In this case the pot boiled without me watching it. Reminds me of a jungle hike to a local mountain. Couldn´t find it, even though we were within 5 miles. My guide and I were forced to camp overnight. Next morning we watched the daylight from early morning sun rise up over the high jungle trees. The guide is muttering to himself, " Now the bloody sun is rising in the WEST " Been that kind of week, as far as trying to tell what day it is. Everything going well though. I´m happy and thats what counts.
Ammo thankyou for the box spread. Had a look at it for the very first time. Sounds interesting, but doesn´t look like it would pay commissions? For curiousity and learning sake, will do it on paper. I´ve been playing today with trying to learn that Delta, or Gamma scalping thingy. Was trying to look up the comments on this thread by Don Bright, but couldn´t find them. At any rate, with a long set of CALLS and PUTS, I finally figured out how to calculate the deltas, to see how many contracts you had to adjust. It worked out even better than what I would have done, rough guessing. Guess Monday will try to apply that learning. In the meantime, since I´m now getting mildly conversant with all this new lingo, but no practice much, I was thinking after reading your box spread, that maybe what I should do, is use a CALENDAR to sell high IV bubble and when I bought it back, left with an outer month half of the CALENDAR in a long option, turn that into a STRADDLE, or STRANGLE as the case may be, then use the Gamma scalping to work my way out of whatever I´ve got. Just stray thoughts on a Friday evening.
No, long calendars are long vol -- you're left with a long back-month option, but you can simply offset the trade as a spread. Why would you take a back-month call (for example) and then buy the put to straddle it off? You're implying some edge behind straddling off the long side of the calendar. The two legs of the calendar are dependent. Don't convert the position into a straddle unless you want to be long a lot of vol. You bought the calendar as a spread and it's prudent to offset the calendar as a spread. I bought a 10-lot of that GOOG 650 calendar at 1.80 yesterday. I never considered covering the weekly call and converting the APR20 650C to a straddle by purchasing the APR20 650P. Does it seem logical to close my short vol (short side of calendar) to more than quadruple my long vol exposure in buying the put to effect the straddle? After GOOG reports? You could spend your remaining years trading classical positions; never to trip over gamma-scalping and be entirely content.
traded pit for 5 yrs and never learned the greeks,only half of the option traders understood them back then,always a directional bet, if you want to learn options,listen to atti,just threw the box out there,it's a safe way to be optioned in the market,force you to observe at full attention and get a better idea of the nuances at no risk,while being able to grab some coin during the trend days