Hi, interesting thead Jay and interesting post Pita. I like your positive outlook by saying anyone can become a trader and that limitations on what we can achieve only exist as far as we create them in our minds (if I interpreted what you were saying correctly). Did I understand you correctly when you said that you think buying call options on equities and indices is the best method out there and nothing else comes close ? Perhaps I have interpreted this incorrectly as well Anyway, if that is indeed what you meant I find it very interesting as most would argue this is one of the worst strategies out there (I am not saying it is just saying what I have heard / read over the years). I am curious for you to elaborate on this on things such as do you buy in the money calls or out of the money, with the trend on a stock that is making higher highs and higher lows or do you attempt to catch bottoms on a stock or index making lower lows and lower highs, do you day trade and end up back in cash at the end of day or do you look to hold for a period, what time frame charts do you watch, do you use indicators or pure price, do you look at fundamentals or news....OK, I think I have taken up enough space on this thread....thanks again. Cheers
Lets have some Real Answers then.....surely you must know what the questions are if you have been a trader for 10 years! Ok, here's a softball for ya.... What is your trading philosophy/methodology?
OK Jay Trade.. give outr your all time best 'system', i.e a trading approach based on market psychology instead of TA. Not interested in charting. Anybody can look at a chart and do TA. Computers can be programmed to fire off trades based on TA. I'm looking for something outside the box. Some Market wisdom, perhaps.
Selling OTM ( out of the money optioons) is a consistent winner hands .. but only if you use proper money management.. other wise one bad month could wipe you out completely.. i prefer spreads when buy options. Good reward reduced risk Jay
I don't care what you think. Go back and read some of my post. I posted before the fed meeting last tuesday, saying I was shorting from 1316, made 16 points. Although I did give half back. Again this was all stated BEFORE the number. That is just one example. Again, I dont care what you believe. I just wanted to call Cold out. Even giving half back, i was still up 20k
you want something outside the box..hmm try actually e-mailing me and I will discuss this with you over the phone.. at this point and pardon the sarcasm.. I am not sure what the dimensions of your box are so it is rather difficult for me to get outside of it? 1. Try using a time stop for your exit.. and keep it simple and stupid... use a time stop for profitable exit and hard price stop for stop loss. Here is an out of the BOX exercise.. it is a system like you aksed for.. but it doesn't use the numbers markets it uses words.. it is a system though.... 1. pick a book or magazine with college level writing. (mkt we trade) 2. Use 3 pages in the book or make sure the article has 3 pages of length or more.. you must specify the length before you start and it must be sufficiently long.. sufficiently meaning 3 pages. HERE IS The SYSTEM LONG ONLY ENTRY 1.start at the beginning of the article/chapter.. 1. go long when you see the word (OF). Every word after of is a +1 regardless of length do not count . " ; *( only words.. and (a) is considered a word Exits: 1. Stop loss is always a negative (-5) add -1 for commissions a total of (-6) 2. if very next word following (OF) is 5 letters or less.. exit trade with maximum loss of (-5) plus (-1) = (-6 ) Total. Then keep reading until you hit another entry signal (of) and repeat. 3. If word after (of) is 6 letters or longer then you are in a winning trade.. count the number of words as you move forward until you come to another (of).. (go back to the exit strategy).. is the word after (of) 5 or less .... yes.. then exit at that point and take a (-6) for slippage and commish. If word after (of) is 6 or longer then continue counting the words as points until you come to an (of) followed by 5 or less letters.. keep track of winners and losers.. you should have about 30 % winners and 70 % losers... however the winners will eb much larger than all the losers and the system is a winner overall. The top wordin gof this post has the folowing: -6 -6 -6 + 20 3 losses 1 win and expected outcome of +2.. this is way too short to run this system but it still worked
Guys start your own thread to argue on ! it is bullshit crap that you guys are doing that keeps intelligent people from learning.. who cares what you made. Go spend of your money and stop wasting pages on my thread.
Your posts are pretty consistent from what I've seen. I just cannot believe that you are only 27 (wow, so young)! If you average 40K a day you are making ~10 mil a year, you'd be the best trader under 30 I've ever heard of. why the transition to futures if you are making so much in stocks? Seems like you have stocks down cold.
I just started trading futures not to long ago. The reason for the switch, something different. I just stopped trading equities not too long ago. I find there is quicker money in futures, to be honest, I find it easier to trade. That is just my opinion. As far the money is concerned, BELIEVE me I didn't start out this way. I think my first year I made 18k out of high school. It really has become somewhat second nature to me. I try to keep it simple. On the other side, I have had some really Ugly days in my career. And I learned the most from them. PM if you have more questions.