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Here is a description of straddle scalping. Similar to gamma scalping: http://www.elitetrader.com/vb/showthread.php?s=&postid=224345&highlight=gamma+scalping#post224345

Being long gamma can mean just long options, for example, but most traders have many combos of ops/stocks/futs going on. So it can mean a net long gamma position. Like when a trader is looking for a big move down in a stock but wants to protect/profit from a big upside surprise, he might...

No big deal. 100% of my trading is mechanical! :p

Thanks oz. I bet every trader can agree that we have made most/all of those mistakes. Sounds like you have the right attitude to practically be back now! Good luck. C

barnum, barnum... :D

thks, pm... heh... looks like ol' surf is stoked on tubeage now...harsh bif - Not!

Ozzy, Sorry for your troubles, but please keep posting. I think in the back of every trader's mind is the thought "What if all my trades suddenly turned to crap and I lost my edge? Am I next to fall?" In your posts and experiences I know there is a lesson for us all. Thanks and good...

Yeah, doesn't look good. What a nut-buster... This is from the Fidelity brokerage. Not IB, but probably typical: Under the new policy, using the same scenario, the account would show a purchase of 500 shares of XYZ at the strike price but no corresponding sell order. The account would...

I'm with you quah. I do think the trader should have closed those bad boys being that close - I would have with almost $500K on the line! But here is where IB's "safety net" should have kicked in - to protect themselves and the trader, that exercise should have been DENIED. In fact, on...

I quickly checked the OCC "Standardized Risk" pub, and I didn't see anywhere where they said you HAD to buy the freakin stock when you had no money: http://www.optionsclearing.com/publications/risks/riskstoc.pdf I'm thinking this is IB's screwup. They should never have let you buy that...

Good gawd! What a horror story! I've only been trading ops since '99, but I haven't heard one that bad from long options. Something isn't right. Auto-exercise or not (yeah, I know - you entered into a contract with the OCC when you bot them, but still this doesn't seem right), from the...

Moderator attack! ...i guess i should have said it's a very ****** company... :D

Okay. Looks like Surfy got out of that GOOG short 6/20 too. And he probably did about no worse than b/e. Pretty good times to close those trades. Not too bad, M-S You didn't scare up winners, but you didn't go down in flames either! Good trading to all. C

I'm surprised I haven't bought it! :p

Thanks for the update. Also, there was a thread started about the same time that was quickly deleted, where he initiated a GOOG short. Wonder what happened on that trade? If Surfer rode that one into the sunset, I can only hope he decided to take the rest of the Summer off from trading...

The first question anybody should ask is "why are you selling a good system that makes money?". The idea that "I have enough money and I don't want to trade it..." is a bit thin IMHO. The other point is to look at different system sites like Chuck LeBeau's and Wealth Lab and even Collective2...

Where are ya 'Surfer? Cummon now, you are very quick to point out your successes. If you are still short you are taking a gnarley beatin'. What happened on your trade? tia C

That's funny as hell! Glad to see these jackals getting hit. As an occasional buyer of stocks that have taken a big drop, I don't like to see those bastids jumping on. Sure, the "public" needs to be protected from crooked management, but there are plenty of laws for that. We don't need...

A man and a woman were driving down the road arguing about his deplorable infidelity. Suddenly the woman reaches over and slices the man's penis off! Angrily, the woman tosses it out the car window. Driving behind the couple is a man and his 12-year-old daughter. The little girl is just...

Also, I think the ET community would be interested to know how the heck they got into your accounts? Did you receive a "phishing" email a few days/weeks before, like someone posted, and enter your account and password#s? Or did they break in some other way? Here is a link to a fraud...