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This is great lesson to see how hard is to make money, but don`t get blinded by impressive performance reports.

JM, I trade options now, but software and spreadsheets give me just additional details, whereas core strategy is based on simple logic.

It happened to many. In my opinion the best is to take a break, cool down and learn/test some more. After some you`ll realize how much you have already learned by this experience, but first let emotions go away.

Dumbest thing for me was getting deeply into systematic trading and software involved in this. Although I had learned a lot in the beginning, then I was working hard with myriad of of patterns, combinations, formulas and so on, and slowly got addicted to trading software. There was a time that...

JM, I have to say that depth of your thoughts and conclusions is very impressive. Unfortunately fight for money has replaced fight for fire/hunting area/food ...etc. and at present stage of development of human kind we just have to accept this. Majority of any human society consists of...

Most of these money oriented statements prove that money means power, and the power makes people stupid. Regarding absolute power - it makes people stupid absolutely :D

The topic was discussed several times on ET. Use your ET search towards "trading job, careers" etc.

Coach, congrats on your Millepage thread. How far to Guiness record ?

What a loss. His show was very inspirational when I started my market education. May he rest in peace.

If you prefer to stay with futures you may consider CTA or CPO. You may operate from outside the US being registered with NFA at the same time.

As you develop as trader you learn to keep quiet in following stages: 1. With your family 2. With your friends 3. On trader`s forums (like ET) :D I don`t know what is next though.

No apologies necessary. I do not need any applause, but I am not here to play games neither.

To make long story short I am enclosing this material. There is no point to continue that discussion as it went into dead end (in my opinion), but whoever knows how to use valuable info properly may take advantage of enclosed article.

Regarding discussion which took place about a week ago; article by John F. Summa with some important statistics: /Option traders rarely take into account a little known underlying fact about the these derivative markets: Most options expire out of the money. A study analyzing three years of...

As we have been working recently on this issue, IMHO whole thing is too complex for forum discussion, but some points are taken. Theres is one point however missed in Market Shock Events, which is October 87. The gap was really bad and happened at open. I know that a lot has been done since...

Directional bias or some more in position ?

this means we both graduated about the same time :D

Another thread on ET was about certificates (what financial certs are being used). My favorite certificate was BTA ...(here number e.g. 1) which means: blown trading account (once).

Dave, Try to compare models by calculating expected return distribution of your IC. Check also conversion of your bear call spread into iron fly and compare results.

Risk, looking forward to....