Well very diverse opinions, even from participants in the same field. My slim understanding of Market Maker methods, is by reading contributions here and there on the forums. I have come to the conclusion that a Market Maker trades differently to a small retail trader and wonder if a Market Maker can actually transfer successfully and profitably from being a Market maker into a successful retail trader? I formed the opinion they find it very difficult?
Well I found some of the stuff on here, with the one upmanship very funny. Back in my stock trading days, ( decades ago ) my favorite strategy was trading AGAINST market makers, in the thinly traded category. Loved to see them squirm, before they gave me my 20% finally. ( took about 3 months ) My impression of Hedge Funds is; they go broke all the time? Every market crash at least. On the subject of Joe Ross, he has been peddaling his training lessons for forty years at least. I tried them decades ago. Even looked to see what he was doing about six months ago, when his name came up. For a guy who often can´t make 2% a year bottom line, I would hardly recommend him. From an amateurs viewpoint that is. I presume he does alright by selling advice. Since he is still at it.
To IV trader Thankyou for the contribution on VIX switches. I did trade PAIRS using VIX and some other index. Can´t remember now. It worked okay, but was highly directional and I really didn´t see the sense in it, so I dropped it. I´m going to see what GOOGLe brings up on the subject.
IV TRADER Got something on trading the VIX in options. Interesting stuff, but assimulating it will take a bit of thinking. Didn´t find anything on the VIX switch itself, other than it occurs on expiration day, the third Wednesday of the month, when one of the months is replaced by another. Didn´t find anything that said which way the VIX went when this replacment month happened though?
Dunleggin Thankyou for your advice on trading the traditional way on LONG STRADDLES. When I get done with this experimental test of an old time method of trading Long Straddles, will keep your advice in mind. If as a retail trader at home, you are making $250,000 a year net profit before taxes, I am or would be very impressed with your advice.
Dear Falconview, I have no idea what you're rabbiting on about. Do you have any idea either? regards etc.,
Been a busy opening this morning. One of those GAP traps. The other day it was a CLASSIC GAP, wished I had traded it. This long straddle method got complicated on me. I´m starting to lose track of the numbers. Did good this morning though, with 23% overall on the PUTS. Still holding CALLS and adding to them. Have another sheet I took a flyer on PUTS yesterday and it did 16.5% return this morning in a directional trade. Still paper trading though in TOS.
Since everyone seems to be a seller of premium on these down moves, why not buy an SPX straddle and finance the theta with otm VIX call credit spreads?