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Amen. I am going to apply this advice to myself as well.

Yes, but I could always write more calls than the amount of shares I actually hold in my portfolio - and raise the balance cash required as margin. It all boils down to discipline.. and controlling your greed.

Its funny how naked puts get such a bad rep when they have the same risk profile as covered calls. I'm not saying I am an advocate of them, but it seems curious because people seem to encourage covered call writing, but warn against the disasters of naked put writing. Please don't tell me...

I asked something similar in another thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=133301

What programmes have you considered at IE? The MBA? There is a Master in Finance which seems more suitable and relevant - if your aim is to network with professionals in the field and refocus your career towards this particular industry: http://www.mif.ie.edu/pdf/Brochure.pdf (I am...

If it works for you, then that is all that matters. Your method is good since you are basically cutting your losses by half once price starts to move against you. The problem is, you have to time your entries good, otherwise a retracement will mean you would bail out half the trade too soon...

about what's really going on where? in the markets? lol.

I know what you mean - but if it really were true - most aspiring traders wouldn't fail. Cheers.

I don't quite get what you are telling me. Are you saying I should continue to forward test my current system; or tweak the parameters (thus, changing the system and its outcome) and forward test the new values?

Did the prop firm train you initially with their way of approaching & trading the markets? Or do you only get a break with them if you are experienced and possess an impressive track record trading your own way? I wouldn't mind relocating to any part of the world if the firm was decent and...

If I am not mistaken, what he means to say is that if the trader is assigned those puts, he would be buying the underlying at a cheaper price than if he had bought it at the price level when he first sold the puts.

Does anyone know where can I find historical open interest values for all the strike prices for an (expired) option contract? Say for example, I want to find out the amount of open interest that was present in every strike price - for both puts and calls - at the end of March 2004 expiration...

if you've been doing well all this time on your own, why change? Why not stick to trading your own account?

Chartered Alternative Investment Analyst: http://www.caia.org/

bringing this thread up..

care to elaborate? I do agree with your statement though, the more an indicator resembles a 50/50 coin toss, the more effective it becomes at signalling good trades :)

The current system I am working on relies on identifying possible breakouts and trading accordingly. The chart I have attached is self-explanatory, green candles signaling a buy and red ones signaling a sell. To reduce the number of bad trades, would it be wiser to add another filter to...

Anyone here long UUP? Yesterday it was up with over three times the average 3-month volume.

This holds true for which markets? In my particular case, I have been observing them on weekly charts of broad-based indices. Also, the higher the time frame, the more efficient they become in determining s/r levels.

I don't know why, but I have always believed that moving averages were dynamic representations of support and resistance levels. My belief might be wrong though.