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I sell straddles or buy diagonals/ based on standard deviations/volatility and historical averages. For example, in 2011 I was fairly neutral short straddles. Think of this as a neutral starting point. I kept selling straddles and in 2012 we've had a run up in SPX so by October I was fairly...

The automated system does ok, it's up for the year. My struggle is with my discretionary trades and risk management around it. Based on the thread feedback so far I trade way too big for not being able to recognize the trend which is true.

Home made. Long story, I wrote over 90 automated systems in the last six years, many had a limited success rate or life span. Most of them didn't actually work at all, so they never made it to live trading. This one has been in production for a couple years now and doesn't show many signs of...

Yes. for Manual/Discretionary trades. The automated system uses 4 hrs candles.

Just fine would be four times the profit this year ;). I agree with taking money out, since I've been taking money out the results were better and more consistent. As far as delta goes, you're absolutely right, I lose focus on "revenge" trades rather than making sure I have enough capital to...

Mostly swing trades. No pre-set time limit on most of them. Some of them have a weekly limit but most option trades have at least one expiration cycle if not more. Most automated trades are between two weeks and two month, some are significantly longer or shorter. Discretionary ones that...

Fully agree on the risk side and the fact that I don't manage it well with position size. I'm working on that. I have a hard time with stop losses though, but I don't want to turn this thread into a religious discussion whether or not to use them.

When Genius Failed: The Rise and Fall of Long-Term Capital Managemen

I agree with everything you've said but the "cut your losses", that never made much sense to me. I think the risk should be controlled via size (and I'm bad at that as well). One thing I'm curious though (and I'm sure I arrive at this knowing how I trade) is the "insane risk" part. I fully...

Thanks. I agree, I've reduced my delta significantly. If you look at greed and fear, greed is definitely the stronger one for me. I'm less fearful that this rally continues (and boy have I been wrong about this the last 18 month) but I'm worried that when we do have a pull back for once I don't...

Bad choice of words on my end. You're right "expect" would have been better but the two are not mutually exclusive. Every day I expect not to get hit by a bus but I also hope for the same. Not sure that that's really a "problem".

Still below 190 pounds (barely but still) and had a decent trading day yesterday. Up 26k4 for the week more than 15k were made yesterday. Today was breakeven but I did have five green trading days this week. Honestly the way the market has been closing and the daily run ups in the last 15...

Hey, how long did you wear those before? Any chance that you can change your underwear every day from now on? :D

no kidding ;)

thanks for your help !!

Your discretion on this. I saved several grand based on your comments already, so I owe you anyway. But then again do you really want to chicken out cause of a 0.02% down move? Let's hope tomorrow is a real one (at least half a percent) and we both get to be real men for once ;)

really??? One more day ;)

I guess that wasn't clear. 250k in the TD account, 250 @ IB. Wish it was twice as much ;)

Can you do one more day, maybe tomorrow they go down 10 points.

Not sure I understand what you're saying.