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Leeson's crime was not really averaging down; he had no "system" to speak. Rather, he was trying to muscle the Nikkei in his favor after the straddles he sold went against him. Ironically, the more he bought, the more it went against him, as the arbs took advantage of the futures being out of...

Or the Will Rogers corollary: "Sell options that don't go up. If they go up, then don't sell them!"

Hindsight is no edge. As Will Rogers would have said, "Buy options that go up. If they don't go up, then don't buy them."

Scalp trader wrpte" "Adding to losers works if you trade with the long term trend. For example, during the bull market in the stock market(late 90's) everyone who added to losers from the long side looked like a genius. The problem was most people did not stop adding to losers when the market...

Range said "Later this summer, I want to buy puts to take advantage of a possible downturn this Fall. I would normally simply buy index puts. Rather than simply buying puts, is there a better way of playing a downturn (5-10% during Sept-Oct) that would give up some return and reduce risk a...

The S&P broke through its March resistance several days ago and yet the breakout is still intact. That to me at least means either flat markets or bullish markets, but not a top. After all, if the S&P were destined to be back in its old trading range, I would think it would be there by now...

I am no daytrader, but a position trader. I have done well this summer placing limit orders at the ends of a projected daily range, and selling near-term ES options against a core long position. I am bullish, as I think the market is still climbing its wall of worry. I used to daytrade but...