The best advice I got from ET is what @Maverick74 lectured: In options, selling premium is NOT an edge, just like buying options is NOT an edge.
It costs $20k/yr to provide people access to a working methodology plus coaching for a job which pays a starting $4k/mth US/Canada or €3k/mth in Europe around finance without experience (after one month training course) while learning to trade the markets. In theory it’s possible to learn in 1yr (using algos to reduce the learning curve 10x) but reality is 2yr/3yr/4yr learning curves, and basically is similar to degree/masters costs per year, the job covers expenses while you learn, without it you put too much pressure on active trading which is designed to fail.
In other words, they pay you $28K a year to teach you how to trade? On top of that, no experience or knowledge necessary? Someone is handing out free money and it is not the coach.
Maverick Who ??? vs Option Trading Pros who understand and use MATH based POP - Probability of Profit... on their trade where they are selling premium and it has a MATH edge in their favor ???
Thank you 'Overnight' for pointing out a very sharing former ETrader Poster... but, as the video I linked to shows, and as multiple option selling video's across utube also show, that the probability of profit (POP) with certain define risk option selling strategies (one of which is synthetic strangles) can be as high as 70% over testing 10,000 ACTUAL trade data historical outcomes. UNDERSTANDING FACTUAL HISTORICAL MATH vs quoting some prior ET poster (Maverick), as IronChef kindly did, does NOT change the MATH (HISTORICAL OUTCOMES) or Probability of Profit (POP) of a trade... regardless of Maverick's opinion or IronChef's devotion to the 'OPINION' of another man... the logical facts of MATH are unaffected.
I am just an amateur retail, one of the plebeians on ET. We provide liquidities to professionals like you. @Maverick74 was just kind enough to warn us not to blindly write options without doing the maths. Unfortunately I am too dumb, can't do the maths. Best regards.
IronChef... Fair Enough... Thank you for sharing... Everyone must find their own path... No two fingerprints are the same... The guy who invented the Pet Rock went his own way... and so did that lady who invented the best floor mop... Joy something? (good movie to enjoy)... and so will you... I wish you well in all your future adventures and exciting journeys.