In terms of 'childish' you must mean all the personal attacks you have now started about me on your own accord and initiative in the 'Educational Resources' section. 'Childish' also describes your duration exposure compared to mine in the market. Check you closing mark with mine, and then google the term 'order of magnitude'.
Little D, you have a full delta and mine will get smaller if we continue to come off, but, oh wait, you won't catch up for like eight points. There's that duration thing again.
What I posted in "Educational Resources" isn't a personal attack. You're the one making rather fantastic claims about your trading success and trying to sell courses on the basis of those claims. It's only fair that people demand records, and that would-be clients know you have not provided those records on request. You dug you own hole there, buddy.
The bottom line is that I keep talking about the interest rate market and the relative merits of certain positions in said market, and every time you post you keep talking smack about my personal financial ability to trade or the merit of the consulting services I offer. My statements are tangible and market-oriented, and yours are strictly defamitory and on a personal level. TJ is clueless and he's obviously arroused by your handle 'Big D'. He doesn't know the difference between a put and a call and the reverse-notation Rosetta Stone series is still in Beta. Name one real live interest rate trader who's posted the past two weeks without a personal attack on me who believes you know WTF you're talking about.
You did not understand what I wrote. I believe the other readers did. Let me review it. In your initial options position you described, you started with a call spread (long one strike, short another strike). Rework that in terms of puts. You can also do it in terms of straddles. Try to figure out which is better and when it is better. You may note in the above that I wrote: long a strike and short a strike, and that there is no mention of puts or calls. There is a reason for it, because in terms of volty there is no difference between a put and call --"A put is a call, and a call is put" is an old well known saying. That is how expertise understands the option spreads. Readers will review my posts and others' posts (such as Big D) and will conclude about the knowledgeable people.
Well, the ZN chart explains the Long Sept. Bull Call spread on the way up and the Short OTM Call position on the way down for me. At some point in time we sincerely hope, the ZT chart will show that Big D was correct getting short. The ZT chart will also illustrate Martinghoul's point regarding curve shift pinning and duration - at today's close Tens were off 0.82%, and that mighty Two Year Note crashed 0.08%. Facts are stubborn things.
Let me contribute here for the last time, if I may... I am with bone here, 'cause, regardless of whether I agree with him, what he says makes sense, even though he's a bit too aggressive for my taste. Firstly, Big D, well done so far on your short. It's not a trade I like, as I mentioned, 'cause, in my view, it offers poor risk/reward. Still, if it works out, more power to you. However, I hope you don't mind if I suggest you to learn a lot more about how the bond mkt works, before you decide to get seriously involved. No offense, but judging from your flawed reasoning, you haven't done anywhere enough homework. Secondly, tj, your commentary here is almost entirely unadulterated nonsense. You really shouldn't talk about things you don't understand with such aplomb and authority. My Z$2c.
More than half of the 33 clients I have signed from ET exposure have never posted on ET, and I have been a little shocked at the quality of some of the clients I've been able to sign from ET - three clients are by my guesstimate well into 7 figures and one is into 8 figures a year. People have a legitimate right to be very skeptical about trader training, books, seminars, forums and the ilk because that part of the business is full of scumbags and by default I get lumped in there with them. People also have a right to question why someone would rather give up screen time trading and exchange that time for consulting - that is, until they are 50 years old with a house full of kids and they've done it as long as I have. I still trade two or three days per week for my own account and almost always have a few swing trades working at any point in time. I also work with the occasional fund, prop group, or CTAs. This year alone I've completed projects for 3 funds in the NorthEast. Another consideration is that most people confuse money management credentials with training credentials - I have never made market calls, I don't solicit OPM, I'm not a CTA, and in fact the only money I make out of this venture is the consulting fee by choice so that in the final analysis I have the client's best interests at heart when brokerage/clearing, charting packages, execution platforms, and those other associated expenses come to play. Of course, someone would have to be insane to post any sort of legitimate financial statements on a public forum, and I find it fascinating that Linda Bradford Rashcke, Pete Steidelmayer, and all the other trader training "gurus" have never posted any statements and everybody seems to accept whatever is written or said at face value. Truth be told, if you are a very good futures trader you can state a ridiculous return due to the levering capabilities inherent in the space - many good futures traders can make, for example, $50K per month gross using no more than $50K per day of margin - it's in fact a common occurrence here in Chicago with the better traders. In the Chicago prop business model, the firm tries to take as much as they can from a trader in terms of commission overage and all sorts of desk fees - you have no choice but to return 100% per month on your daily margin if after it's all said and done you want to take anything home worth getting excited about. It would be reckless and irresponsible for me to promote that kind of return in a public space (and I could) because in fact no one can predict how another person will perform - every one of us walking this earth has different risk appetites and emotional baggage we tote around. A trader will also be able to generate greater returns with a $50K account than a $500M account for a number of legitimate reasons. In the end, any logical person who chooses a training program based upon the stated returns thrown around by a vendor is somewhat dellusional and shallow. Anybody who has seen another trainer's lefit statements, like LBR's for example, please post them and maybe I should then reconsider.