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Ouch. Yeah, he's a billionaire and a smart guy and his fund should pull out of the slump. Heck, I believe in and use "reversion" strategies, but nobody can say if that fund (i.e. his strategy) will dip to -60%, -70%, -80% before righting itself. IMHO no one that runs public money should...

Another point is the severe survivorship bias infecting longterm hedgefund returns. Sure, some of those funds that survived 40-50% or worse drawdowns give hope that the "average" fund with a sick drawdown will survive. But the reality is that a far far greater number of funds with those...

This will be the fate of 90% of today's hedgefunds, IMHO. These traders are no better than you or I at trading. They are just better at promotion. Leverage and hubris will surely kill a huge percentage of these funds. The market is unforgiving in that most must lose, for the few to win.

Phil, thanks for your posts here. It's nice to see a real trader tying to help, and demonstrating actual trades. I used to go to the YHOO options board a lot years ago. For those that don't know, it is definitely not your usual YHOO board filled with junk and idiots. There are many very...

Nice. Looks like you got the word. I guess I don't need to go to law school... :p

Somethin ain't right here. The wife and I are just wage slaves, but we pull down prettty good bux and we would NEVER "leave $20,000" in Vegas...or anywhere else. I suspect, like others, "Viv" is the wife of a more or less big time trader/exchange member. And certainly, she isn't a $8 an...

I think IB is a great broker for stocks, futures and options. The only other brokers, IMHO, that might be better for options are OptionsXpress and Think or Swim. Their data works fine for me, although lately others have had problems with quotes. I also use Money.net with Quotetracker...

I think the busting "process" and rules should be the next thing the SEC looks into. Trade busting sure seemes rigged against the small guy. And what the hell is "away from the market?" The market is where the last trade was! If some bozo, even me, sends in a bad limit way above or below...

Why the attacks on proflogic? Well for one thing, he answers serious questions about his methods in an arrogant and offensive way. He also says he never offers trading advice??? Then what the hell is he doing with a trading website, "mentoring", "seminars", etc? And like Samson says...

:p

Patent Pending If a "patented" short term trading method is unsuccessful and loses money over time (for reference pls read "Fooled By Randomness"), could I "patent" the opposite trade? :D Choad(TM)

There is a ton of evidence that having a high IQ is not necessary for trading...just look at the average ET member!!! :D

IMHO the statistical inference of "95% of all new traders fail to make money after 3 years..." or the like remains constant as time extends. So let's take the 1-2-3 or whatever percent of "successful" or "supertraders" that cobble up enough friends, family and sucker money to start their own...

Okay, your experience is bad (Although it doesn't sound like a big deal to me. Are you from Russia or other former Soviet country? I'd say IB would need to be very careful, given the rampant fraud). My experience is good. I've sent many thousands to IB by wire. It worked flawlessly...

So, MAESTRO, how do you REALLY feel about the strategy? :D This can be a good strategy, but like every other option strategy you MUST define where the edge is. No edge - little or no gains over time. But just like continous index "covered calls", you may be able to capture 5-20%/year...

mschey, thanks for sharing your results. I'm sure we all can learn from your results and methods. Your numbers show an account size about $1.156 million. Don't want to pry, but is this the account size, or just buying power? I'm just wondering how long it took you to accrue an account...

You can do it with an IB account and a bit of programming effort. C

Oops. I forgot about that chunky quarterly div. But hell, even if the trade doesn't work at least we all learned something! Good trading to all. C

Interesting trade, lescor. Did you leg into this box, or did you put it on with one order? If it was a leg-in, then I can see how you are doing it. Otherwise, it's hard to believe all the option sharks in the market are letting these morsels get away from them. Looks like your advantage is...

Sorry, man... We luv IB here. The answer is simple - If U R unhappy then use another freakin broker. Oh, there isn't another one with features like IB? Then thank your lucky stars for IB. Nobody is perfect. JMHO Good trading to you and good luck. C