So who's still beating it with butterflies/condors?

Discussion in 'Options' started by agev, Jan 8, 2008.

  1. bellamy


    This is a truly remarkable post.You have been a registered member for 24 hours or so and without a moments hesitation or evidence of your own experience you dismiss the trading styles of any number of successful traders.I note you don't offer any constructive suggestions or evidence that your approach is superior in any respect.In fact you don't mention anything about your trading at all! Is that because you don't actually trade or you simply don't deign to converse with us mere mortals.It appears to me that you started this thread solely so you can impose your pompous diatribes on others. Thanks but I pass.
    #11     Jan 10, 2008
  2. Prevail

    Prevail Guest

    in addition, hate to rain on your party but 1 sigma violations are in statistical alignment.
    #12     Jan 10, 2008
  3. Not trying to inflate my ego here mate, just stating the facts since you are trying so hard to make it sound like it's so hard to make money and try to put everyone down. In fact it's been relatively easy. Couldn't help myself but post :D

    I've been profitable making 3% a month since April trading PUT ratio spreads. I make amt this trading only PUT side, no CALLS. I've learned a lot from various traders here but one of them said something that really started me trading confidently. And it is .....drum roll......"do not over leverage". This trader is the real deal among a handful that i have enormous respect for and walks the walk trading for a living for many years with a good track record, surviving 9/11, tech crash, london bombing and this years sharp falls. A key thing he said is don't overleverage and you can really make a living doing this. That really hit home to me. I have been adhering to this strictly and have been trading confidently since then. Don't get me can still get in trouble and lose, especially with my risky ratio spreads. I open the spreads for a credit and normally close them for a credit too. Starts out negative gamma converting to positive gamma. I think it's a beautiful strategy and well worth the extra risk of the naked PUTS. Don't get me wrong it's still a risky strategy but I don't blindly write them. I still have to time the market.

    3% per month maybe measly returns as per your post but they're definitely good enough for me :) Hey but maybe you're a super trader who makes 10% a month. If so...good for you mate :)

    #13     Jan 10, 2008
  4. Jaques


    PUT ratio spreads is extremely risky for me currently due to the turning bear market.
    The extreme event is increasing recently.
    But I think you write your put on certain technology,utility stocks?
    #14     Jan 10, 2008
  5. sugar


    Me too, like water in the teapot:D
    #15     Jan 10, 2008
  6. Methinks that he has been bitten by flies.
    #16     Jan 10, 2008
  7. segv


    Your post does not warrant a sensible reply. Have fun storming the castle!
    #17     Jan 10, 2008
  8. I hear ya.... I find the key is as to how wide my spreads are. That's one of the ingredients in my secret sauce :D

    Good trading to you and may the black swans stay away.
    #18     Jan 10, 2008
  9. Hi Jaques

    I actually like a bear market as long as there are no mini black swans. Hi vol and plenty of juice in premium

    I currently only do my ratio spreads on ES. I wouldn't dare do it on individual stocks for obvious reasons. Yes, i agree that it is currently risky on PUT spreads in this environement but i have already gone through JULY/AUG which i feel was even worse when VIX went to 37. Came through that okay....touch wood. Once again, Im quite careful and my leverage is quite conversative, but it's still no guarantee. If the markets gets worse from here i may be forced to adjust.

    #19     Jan 10, 2008
  10. GTG


    Who says a fly has to be neutral? It can be a directional strategy.
    #20     Jan 10, 2008