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Sage advice, I did great trading options (swing verticals, calenders, month to month trading) last year and lost it all in Futures. This year, same thing, got crushed in Futures in Mar/Apr quickly switched back to my theta positive, modest delta, vega positive options trading and April finished...

Having a Federal Tax bill of $0.00 helps too. Rode GE to profits from Jan to mid April with covered calls.

I'm going to try to build that into my rules .. that's a concrete way of cutting losses. I haven't had that until now in my credit spread trading activities. The losses have certainly wiped out months of gains.

Yes, you do have the right to disobey unlwaful orders. Even as an enlisted man in the Army we were taught that orders were not absolute , that "I was following orders" would be no defense if you were charged with violations of the Geneva Convention, for instance. On the flip side, you're in...

gamma risk is huge ... pigs get slaughtered when they let their short puts worth .05 just sit there. The SEC did everyone a favor by announcing this on OPT EXPIRY FRI ... only asswipes still had short cheap puts on GS. in low volatility I have been avoiding selling for credit. It sucks...

It'll be the Kenyan who will be charged with impeachment and possibly treason. Treason is cooperation with the enemy. Disarming our nuclear edge, going around saying "victory" is not the objective in Afghanistan, setting up secret domestic paramilitary forces .. that's the stuff that...

Newspaper notices can be placed by proud grandparents anywhere in the world. The document produced was a fraud produced by a hopeful Obama supporter not connected directly to the President (they wish he hadn't done that. Michelle gave a speech where she mentions her husbands "home country ."...

Agreed. The Neo-cons were just that sort. Enemy to both liberals and real conservatives. They slashed taxes and blew out spending and declared themselves genius. They often paid homage to Reagan but the analogy did not apply: Reagan cuts taxes that were already high so he increased...

You want to do these on bullish stocks 30-40 days out and earn via theta decay ... not play gessing games on expiry week.

Thinkorswim has been voted the best option broker in Barrons for a few years and they are friendly to the small timer. Check 'em out. You want your per contract commission to be like $1.50 or so .... the brokerages vary wildly and some only get cheap when trading lots of 10. That's sorta...

Bingo .. this is the reason why one must go to wher the action is /CL, /DX and even /NG . Shit you could have blindly sold an /NG contract a month ago using daily charts and be up thousands with an initial 6 tick stop.

I once did an experiment with my 6 yo son. I let him log onto my papermoney acount. He is really interested in money and foreign countries as he's been to Asia twice with the family and is fairly bright. Naturally he sees Dad staring at charts half the night and he wants to do what Daddy...

Maybe you are right ... I noticed Nat GAS this am ..giving trade after trade after trade .. all morning long .. this was on a break at lunch I had been too spellbound trying to figure out oil as it was down a bit while the dollar was down and messing around with gold .. to see what was...

check out www.cmegroup.com ... they are always throwing on trading webinars and they have courses in NY and HOuston on energy in particular. That sounds like a dream vacation activity and I'd love to do that someday. http://www.cmegroup.com/education/product-specific/energy.html

Plus, electricity is free as opposed to gasoline. And coal is never used to generate electricity. </sarcasm>

Its a good strategy if you have low commissions, on penny wide options, tons of open interest and the market is going sideways. Sideways is the key. All option stategies must be selected for the right market. All of my covered call trades have been profitable for the last 6 months: GE...

I call that "going back to the well" and have prohibited that in my trading rules. There was a set up just like that on 1 minute charts on Crude /CL just today. I made 12 ticks going short as it made a new low. She popped back up and gave another signal but I just walked away. Just like...

Same here, mini gold is good to cut your teeth with, preserve your capital, expose weaknesses, see if you can integrate trading with your life, confirm strategies developed in paper trading. I watch/ chart /GC but will continue to trade the mini. If I can't make any money then there no...

That's what I'm doing with my position in EGO. The sold calls have helped minimize the damage in this long term position and this little run up will give me a chance to make this position a winner. In this market, covered calls is the perfect strategy.

That's what I do ... I run two charts ... dollar must be bearish before I go long crude.