Options trading for a living

Discussion in 'Options' started by TSLexi, Oct 4, 2013.

  1. blakpacman


    Realistically, it would probably take the average man many years to (1) Obtain that level of detailed knowledge, and (2) Many more years of experience (i.e. losses) to be able to trade options that way.
    #51     Oct 5, 2013
  2. True, but I've never ever been average.

    My only problem right now is I don't have the years left, so I always look for the shortcuts.

    BTW, no offence taken that you thought me average. :)
    #52     Oct 5, 2013
  3. tommcginnis



    "Thank you for so often and so generously taking the other side of my trades."

    Yeah. Yeah. That says it. That does it.
    That does it jus' fine.
    #53     Oct 5, 2013
  4. blakpacman


    No offense intended. I was speaking in general terms for most traders.
    #54     Oct 5, 2013
  5. You exhibit cognitive dissonance with your counter-party silliness. All addicts display similar behavior, regardless of mkt. It's not your problem, it's everyone else. Cannot find an edge so you throw what money you have at passive BS. The wing sellers are what offer trading opps to professionals. Thanks for providing liquidity to sane-strategies, but you should keep your mouth shut when you're out of your depth or you think that you're offering benign advice to ppl that will blow up by following it.
    #55     Oct 5, 2013
  6. Thank you.

    I think most people tend to think in terms of what they can't do. If they would just think they could do anything they wanted to, within reason, they would be amazed at what they could achieve.
    #56     Oct 5, 2013
  7. TSLexi


    Writing puts is a good way to make consistent income. Just make sure the underlying is a solid company with good prospects.

    If you're assigned, you get discounted shares in a quality company, which you can then write monthly DITM covered calls against for income generation and downside protection.
    #57     Oct 5, 2013
  8. yeah, thanks. I just had an epiphany.... no, sorry, just gas.
    #58     Oct 5, 2013
  9. TSLexi


    If it wasn't a good strategy, why is it recommended for conservative trading styles?

    Say what you want to mean.
    #59     Oct 5, 2013
  10. You started with this;


    10-04-13 12:27 PM
    Hi guys,

    I'm thinking about trading options for a living. I have $20,000 saved up from my job, which I strongly want to get out of (escort), and I have had trading experience when I was in college.

    My goal is to make at least $150/day. Since position sizing dictates I should only risk 10% of my total capital on a single trade, I need to make an ROI of 7.5%/day (not compounded, of course!). I plan to take the profits out of the trading account at the end of the week.

    I plan on trading volatility, for example buying a call while shorting the underlying.

    My questions are:

    1. Do they make IV-based indicators, like a MACD, RSI, etc.?
    2. Is $150/day a reasonable goal on a starting capital of $20,000?


    End quote.

    Now you have conviction about how to trade options, capable of defending a POV in such articulate terms.


    Meds kick in?
    #60     Oct 5, 2013