You can find the answer on realforextrader's journal. Evidently he recieved a less than desireable PM after a disagreement on a journal. He lashed out on the realforextader journal. Too bad. I liked having him around.
it has been answered many times but no one has proven the idea of zero expectancy minus costs. it is a matter of opinion.
Dude, what do you trade? Debits and credits are meaningless, what matters is decay P&L vs delta P&L. It does not matter if you get into a butterfly as 1x2x1 or as strangle-straddle, but it does matter that you are short gamma, long theta. Any view on undelrying, realized or implied vol can be expressed both in long and short gamma positions. If you are trading longer-dated stuff, you also have vega to worry about (if you are long 10y10y or 10y USDJPY Fx vol, you mainly care about demand from exotics desks, are you vega overpowers your gamma and decay). If you want to be long, you can buy a call spread (long gamma), 1x2 (usually short gamma), collar (gamma neutral) etc. I have some positions on where I'm both long gamma and theta at the same time. But you should always have considerations with respect to gamma vs decay, no matter what your volatility and underlying views are.
Very true that decent directional analysis is helpful. However, net credit using time decay is always a higher probability of profit. This point cannot be argued against effectively.
I'm sorry to say this, but it is sooo wrong! I don't want to repeat many of the posters on this thread; instead, you should read it right from the beginnig.
Any/neutral conditions ? I trade short calendar spread , but only event (back month) driven. And like Maestro stated , I still have to be right on direction ( of vols , in my case).