No one has any idea how much money Karen the 'supertrader' has made or lost because she refuses to provide audited returns. Her words are just words. She does, however, admit that she was nearly wiped out a few years ago by a big move. Using only fraction of your account is no guarantee that you will not be wiped out. Lose that fraction a few times and it's all over. That said, I'm glad you are up and I hope you continue to do well.
What does "30% invested" mean when you've done nothing but sold puts? Just trying to get a bead on your math.
I want to thank Xenomorph for warning the ET community about the dangers of selling options. To follow his lead, I would like to warn the ET community about the dangers of motor vehicles. Over 30000 Americans die every year in motor vehicle accidents. Think about that for a minute. If you get in a car, you could suffer a mortal injury and die. Seriously. Do. Not. Fucking. Drive. P.S. put on a helmet before you leave the house. A coconut could fall on your head and kill you. It happens... http://en.wikipedia.org/wiki/Death_by_coconut
3 of these particularly stuck out to me: On 17 January 1995, in Kota Baru, Malaysia Mat Hussin Sulaiman, 76, was killed when the monkey he used to pick coconuts from trees hurled a coconut, splitting his owner's skull open[35] On 15 August 2001, in Kampung Tanjung Badang, Malaysia, Mamat Kundur, age 59, was killed when a monkey used to harvest coconuts from trees dropped a coconut on his head[37] In March 2009, 48-year-old Luelit Janchoom, in the Nakhon Si Thammarat province of Thailand, was killed when a monkey used for harvest coconuts furiously kicked them down to his master, hitting his head[40] Durian will easily take you out too.
Are you in Singapore? Every week there is news about " Man found in 30 foot Python" from neighboring countries. And, then you mentioned Durian.
Combining monkeys and coconuts is like drinking and driving on black ice....in Westeros...which is where winter is coming.
Yeah, it's kinda like trading a credit spread. Sure to result in death or, at the very least, disfigurement. Nope, but I've eaten my fair share of it! Great stuff.
When selling options you don't have to use all your capital. 30% invested means I use up to 30% of my total net liquidity. If you have $100,000, you only have $30K exposed to the market. Risk management is key. If done right, selling options is much safer than buy & hold. All in all, it's much safer than trading Futures or Forex which are purely directional. I stink at picking direction. That's why I like various option strategies that fall under the heading of "selling premium". Sure safer than dancing monkeys!
No clue. I just put on high probability trades but close at 2x credit received for my losing trades. 10 months a year are winning months. Rinse and repeat. Good luck!