Recent content by MJ888

At this moment I am in hospitality. To be more specific, I am an Executive Concierge at a major hotel. Just got my real estate sales agent license and will be transitioning into real estate. I actually do know a whore house pianist but she is blind.

Another thing I must add is to block out as much noise as you can. I hardly watch CNBC or Bloomberg anymore. In fact, my TV is mostly off. I don't bother with Facebook, Twitter, Instagram or any social media because to me they are all useless distractions. I focus on what my charts and my...

I do not think trading is hard nor is it easy. Each of us were programmed to believe and taught many things by our parents, teachers, friends, and society. Almost all of those things make trading hard. If you can block out and change your thought process then you have a decent chance at making...

Based on your info, here is my opinion based on being the markets for 20 years: 1) If you are making 2% every week with a 200K account, that is about $4,000 a week, shut up and keep doing exactly what you are doing until it doesn't work anymore 2) Five profitable trades can be accomplished by...

If I had to identify just one thing, I would say PATIENCE. We live in a world where we want everything to happen right now but for the way I trade, selling commodities options for premium, I have learned to be patient and allow time decay to do its magic.

Yes I agree with you about the costs on such a position. And yes it is free when simulated but I do factor in commission costs when I test out a trade so that it can be as real as possible. I have been trading options for a long time (mostly strangles and ratio spreads on far out months) so...

Thanks for the input.....I have been trading long enough to know all too well about slippage. BTW, when I entered this trade, I most definitely did not get in at the "best" price on any of the legs. I did not close the trade. We'll see what happens tomorrow. I am fully aware that I would not...

Yes I agree that ES options do tie up a tremendous amount of capital. But ZC can be traded at a lot less.

If you prefer to bleed theta then may I suggest you look into ratio credit spreads using farther months. I have traded them on ES and ZC options. The options you buy as the hedge will provide you a cushion against some of your losses and it may even become a source of additional profits when the...

You like the trade? So for you the risk is justified for such a small reward? I know the odds of success are in my favor but is betting $4,045.86 to win $954.14 good odds? Two full trading days have passed with three more days to go until expiration. OEX closed at 605.32 today which is 15...

Yesterday, Monday May14th at about 10:35 ET I entered a SIMULATED OEX vertical spread on the weekly that expires this Friday. I just wanted to see it in action. Here is what I did: Bought 10 585 puts at 0.95 Sold 10 590 puts at 1.30 Bought 10 625 calls at 0.75 Sold 10 620 calls at 1.40...

I just took a quick look, the maintenance margin at IB to sell one CL futures contract is about $5,000. And to write one CL option is about $2,600. What is your strategy when you sell weekly ES options? Vertical spreads? Based on 1-2 options what is your average gain each week? And how much...

Thanks! I will look into this book.

What was your original position size for your CL strangle? I am guessing 3 or 4.

I do not use Liberty Trading's service. However I do get their weekly newsletter. I am certain that any trade recommendations in the newsletter have already been placed for their paying clients earlier in the week. I find most of my trades on my own. The hardest part is deciding what strike to...