I think you are meandering. Rules of the game should be always always fair for all players. No matter if it's a sport or business in general.
so we have a lot in common. I'm a 26 yr old, and have been studying this game for a year. keep posting here and you will learn a lot. I definitely have
I've heard of Wade Cook's achievements. Personal bankruptcy. Corporate bankruptcy. SEC violations. Sued by the attorney generals of multiple states. Income tax evasion. Jail time. He should have quit while he was ahead
Its true whatever he did it caught up to him. BUT he was successful on the market. Forget all the other stuff, His tactics worked. He turned a small amount of capital into a fortune.
Making those returns on single trades is definetely possible, but what is your risk? How much do you put into such trades? What is your probability of success? Are you ready to risk 50% of your portfolio on such trade? In my opinion, selling options has much higher long term chance of success. This is based on a simple fact that options lose value every day, so putting time in your favor has a huge advantage. It can be combination of naked puts, strangles, iron condors, calendars etc. You won't make a home run, but you can make 5-7% per month with high probability of success and more consistently.
that is not true. i am surprised anyone could be that uninformed. http://boards.fool.com/Message.asp?mid=13225796
Was he successful in the market or did he rack up huge fees from pumping seminars based on fraudulent claims ?
Depends on the selected strategy. Question really is: what are my monthly profit goals? 4-5K is my goal. One cannot use the same strategy every month, for market conditions change. I have found that the key is strategy selection followed by position and money managment.
"Now I know there are thousands of variables to each of these. And I have been studying my ass off on a new approach to the market. Anyone here familiar with Wade Cook? Reguardless of the criticism he has received the man made a killing on the market. He took a fundamentalist approach to stocks with rumors of news and rumors of earnings. In application of certain times of the years when businesses have to realease information (SEC reports so on so forth) along with there taxes etc...." oh no...