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the latter. I play NL poker at several tables in my home town, almost nightly. Watch "Rounders" and note the way people talk about Joey Knish's playing (John Turturro). You bide your time, let the other guys pick off blinds and whatever, and make a killing every few hours. I only wish my trading...

Futures spreads (I'm not talking about scalping intraday, that's a different game) usually take a few months to play out. If you want to have a constant flow of capital, just put on more spreads in different products.

If you're that fidgety that you end up taking trades that do not fit your criteria, may I suggest keeping a book or even a TV by your computer so you can have something to do and glance back at your screen every minute or two? :) That should keep some of your urges subsided as you will not be...

acrary, can you post the algorithm you use to adjust the number of contracts traded to volatility? Is it similar to the one used in the turtle trader method?

excellent response, thank you

ok, cool. One more quick question, are these intraday or overnight/swing trades? Also, I agree with you that combining non-correlated systems improves results but won't they occasionally contradict themselves? For example, a trend following system and a range trading system, one says it's a...

The models are trading SP, doesn't matter :) I'm assuming 1 contract

are those systems curve-fit or are those forward-tested numbers? not that it really matters in the context of the lesson but they have some pretty spectacular results and I was just curious :)

rather than selling calls so far out, you'd probably be better off selling front month calls (up to maybe 1/2 of your position). if you get assigned you can either leave it at that or rebuild your position. another option is to sell puts naked (the equivalent of covered calls) without a long...

Right but when looking at CBOE total put/call, should we care so much about IV? P/C here tends to be contrarian, btw, higher ratio would indicate the approach of a bottom. Could this be because of low vix then (using the reasoning that low VIX = low premium = cheap protection)? seems kind of...

What do you think of the recent historically high/remarkable put/call ratio? An excellent buy opportunity? Never before have such high readings been sustained for so long, not to mention the small move down that has accompanied it. Strange indeed.

Pit traders get to experience the 'flow' of orders and can tell where demand/supply is coming from. They make hundreds or thousands of trade, something like 75% are just scratches; they take full advantage of almost no coms. They make their trades based on how the others in the pit are acting...

trade small, hopefully you'll have enough money to survive on :D

Actually, the sun is too small to ever supernova, would be pretty sweet though

this is a joke marketsurfer, just leave him alone

ehm not so much, good luck with buy and hold investing in this market. btw, this is adjusted by the CPI (which needless to say, blows at gauging price inflation), I don't think you want to see what djia looks like M1 or dare I say M3 adjusted. <img...

Time to short some more I guess

I'm sorry ProfLogic, I didn't know showing a picture of a chart with a bunch of arrows on it would so easily prove me wrong. Are you joking me? There's no way to confirm a bottom or top in price except for the context that it's already in (in the past), you have NO way of knowing that the...

Markets work just as they did 30 and 100 years ago, so the thoughts from back then are just as valid as ours now. EMT is solid, in my oppinion, the fact is markets are not perfectly efficient (caused by many factors, a big one is emotion) thereby creating profit opportunities for those that know...

The position you gave was a long butterfly, not a short, btw. This has the same risk profile as a short iron butterfly (long lower put, short call and put at middle strike, long higher call). By shorting stock at the lower strike, you are synthetically buying a put and selling a call at that...