Hi Coach, I figured out the answers to Q2 & Q3, just wanted to let you know so you don't need to take time answering them, thanks much for your help.
Hi Coach, attached is my results for exercise 1. My conclusion is probability of success too low and return too low to warrant trading GOOG calls. Please let me know if you think I missed anything in my findings. Thanks much for your help, I am learning a lot from your postings, I might not always get it the first time, but I get it eventually.
I just came across this thread and am amazed at the generosity of "coach" to provide this wealth of information. I have been trading options for about 2 years now and am still learning. This is invaluable, to be able to discuss and learn from experienced traders.. is amazing. please continue and thank you!!
Haven't gotten any postings from the coach, I guess no more coaching .... thanks for the helped thus far and wish you all good luck!
How you know this guy is good? I looked at his site. No where it states his actual trades (just a watch list). No p/l, no statement or overview of his performance? He states about "don't believe me, watch me" , but watch where? All i see is someone writing a blog without any proof. He might be just a small trader with $ 500,-- or less. Maybe i am missing something here
Remember I told you I was going out of the country for 4 days and would be out most of the week... thus no postings since I did not have access to internet really. How quickly we forget...
Hi Coach, glad you're back! Here is my progress thus far: 1. Papertrade transactions: . JUL SPY Bear Call Spread . NDX Iron Condor (from a subscription service that I currently subscribed to) 2. TOS platform: got pretty familiar with the Analyze tab. Got a good sense of the Greeks, however, still don't completely comprehend the extend of their significance 3. Reading Materials: Currently reading Options Volatility from Natenberg, I wanted to challenge myself, to my surprised, I am able to follow along, except a few questions Questions: 1. Trading Rules: I want to establish a disciplined trading style for myself from the start, so I don't form any bad habits going forward. I am sure as I gain knowledge and experience the trading rules would be adjusted according to my skill level, however what rules should I adhere to at my current level? 2. Risk/Reward: I am now pretty familiar with the mechanics of credit spreads and condors. However, need knowledge on how to find the best strike to get min risk and max profit, an other words premium that gives me the best return based on the risk I am willing to take on 3. Market Experience: From reading your postings on SPX Credit Spread trader, I know you know the market like the back of your hand and this took many years of experience. What advice would you give me to gain market knowledge, what to watch out for credit spreads, condors? what/how to study the market to avoid costly mistakes? I read in your other postings summer is a quite time in the market.... for a newbie, these are the types of things that we don't know about..... 4. Would you please explain "skew" of the indices, which one(s) give an edge to options buyers/sellers and why? Thanks much!