Heather, it's entirely possible that trading is not something you should be doing. Not to be discouraging, but have you thought about it?
ryank, I've been giving near-the-money a try and have found that I can make a lot more $, a lot faster IF I'm right on the direction. In other words, they seem to be more directional trades than market neutral, premium collection (theta decay) trades. The problem (for me) is that they require much more vigilance...
Easy tiger! Phil's response will be predictable and diplomatically boring! I suggest he copy and paste one of his many earlier dissertations on risk managment and choosing a strategy that fits your personal style rather than spending his time crafting another essay as he is no doubt in the process of doing right now LOL. Phil makes money month after month. If others fail to replicate his success it is due to greed or trading something they don't understand. So be it! Free will is at play here. On a separate note, perhaps another journal or at least thread is warranted given the virtually diammetrically opposed strategy you appear to favor. It seems more akin to swing trading using options as a leveraged substitute for the underlying. This is distinct to a more market neutral FOTM credit spread approach that was predominantly practised on this thread. MoMoney.
Such a mean spirited inappropriate posting. You know nothing about this person or anyone else posting on here. Each person needs to make their own decisions. She posted her trades looking for some education and possibly trying to help others by sharing her experience. Maybe you should check your filter and make sure it works. People do not need someone piling on after a bad month, a little encouragement, yes, nasty comments, NO!
If you're going NTM, forget paper trading... it just ain't the real thing since you mask your own worst enemy... yourself under pressure.
Well said. Based on his previous 500 posts, he should spend more time asking for advice than giving it.