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Thanks for everyone's responses! I guess what I'll do is look up all these things like straddles, strangles, collars, etc. I know their basic ideas but I've never really looked at them in great detail, so maybe now is as good a time as any to learn and experiment!

I got lucky and am the proud owner of a single RIG Jan 2011 $50 call, after buying it a few months ago when RIG was around $48. I paid around $5 for it, and now it's around $20. I'm not claiming to be a genius, it was simply a lucky pick. Believe me, I have plenty of other tremendous losses...

I think the benefits are: 1) learning how to be patient to wait for a good, high probability setup, and learning not to take crappy setups because you're bored 2) getting the feel for putting actual money down on an uncertain but statistically good outcome, as well as proper risk management...

Hi Lou, Just out of curiosity, what do you mean by institutional platform? Could you give me the names of some of the platforms you're investigating? I'd be interested in researching this to see if it is more useful to me than Ninjatrader. Currently I use Ninjatrader 6.5, but the fact that...

That's a dumb comment. A few weeks ago he had a self-admitted meltdown after many weeks of losses, and in the last 3 weeks he's made some great gains. I would call that a recovery. He doesn't have to wait till break even to celebrate his victories. He has already acknowledged the first 8...

Congrats!! Awesome recovery you've made in the last 3 weeks! Keep it going!

Thanks! This was exactly the piece of info I was looking for!

I was thinking that but the US futures only moved a couple of points. The movement of the HSI was over 10x larger

Is anyone following the HSI? What caused that 400+ pt surge in the index futures? The action on there tonight is crazy! It started out relatively tame, and then it went parabolic to the upside.

Only if you can survive the drawdowns. 41% drawdown in 2008 is way too much for most investors who want long-term growth. Most investors would rather make a small amount and be safe rather than go through the ups and downs of trading that active traders go through. But it definitely sounds...

Everyone and their mother is saying that the markets will sell-off post-elections. Does this mean we will sell off, or could it mean that it will skyrocket higher, since the market does whatever it can to maximize pain for everyone?

In my experience, there isn't a single enterprise customer that would roll out any type of patch in the middle of the day. The NYSE has the most important computers in the world, besides the ones that control the nuclear weapons. Adhoc patches just doesn't happen. What patch is so...

Guys, the NYSE does not do software upgrades in the middle of the day. End of story. Their explanation is BS, something else is behind the flash crash (ie. more HFT) but it wasn't a software upgrade.

I think if Neke can't take the time off given all of the severe, and fundamental mental mistakes he has made, then he has a gambling addiction. It's obvious that emotionally and mentally he has regressed and is making mistakes that are emotionally driven, the same kind of mistakes that all...

oops sorry I read too fast!

Most real estate sales these days are short-sales or foreclosures. If the foreclosure market gets shutdown, even temporarily, by title insurance companies refusing to insure foreclosed houses, this will definitely cause a lot of problems for entities like Fannie and Freddie, which own a huge...

Isn't this an example of a "naked short" where the person is short without having secured shares to borrow? If so, isn't that illegal? (Yes, yes, I know that the SEC is a useless joke...)

I was wondering if anyone knew what the historical limit up/down values were going back to the 1990s? I know currently it is 30 cents, but it looks like pre-2008 the values were different and I'm not sure what they were. I tried googling, but it unfortunately turned up nothing.

Neke, I really appreciate the brutal honesty of this journal. It must take a lot of courage to write your logs when you know you had a week like you did this week, so I sincerely applaud. That being said, if you are doing stuff like shutting off your position monitor, etc, and doubling down...

I'm fairly certain you could write a straightforward function in C code that could process this extremely quickly. Obviously the factors that would affect it are size (2000 records is nothing), CPU speed, and where the file is store (hard drive, SSD, memory, etc). I wrote a simple program...