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ORCL is rocking the market after hours talking up their numbers.

I'd like to hear more about this, I know that Tim Ord, who is the number one market timer right now uses the Tick and the Arms index to trade the dow and the s&p's

well 3 transactions for sure but maybe its only one round trip. Not sure if round trips matter though.

I don't think anybody really knows right this second. Even the few "guru" types that I listen to have sort of thrown up their hands or are talking out of both sides of their mouths so they don't look stupid in a week.

I was assuming that the 5k was pure risk capital of course. Ideally you wouldn't put more than 2% of your capital at risk in any one trade. As for it being gambling, well that is a whole 'nother philosophical argument and I have voiced my opinion about it on other threads, so I won't go there...

as a practical matter, they are also going back to their old habits of using crappy parts.

if you buy 2 and sell 3 its also called a ratio write. You are correct that one of them is naked, but the position taken as a whole is partially hedged, so the risk is somewhat less than just selling one contract naked. Personally, I don't think it takes cajones to go around selling naked...

if you expect the market to give you money every day, I really think you have unrealistic expections. There is not a single professional trader that comes out net positive every single day.

this market is scary and options expiration doesn't make it any easier. All the fundamental data is neutral to bearish, the stocks that are coming out with decent earnings reports are dropping anyway, etc. The action yesterday sure looks like an oversold bounce right now.

5k is enough to get started trading equity options and your risk is limited to the value of your trade, unlike futures where you put up a small deposit but you are liable for the full value of the contract. However, in my opinion, options are more suited to swing trading than day trading due to...

I find that there is usually one good article in each issue of those you mentioned and the rest is fluff and advertising

I like the answer "I work with computers", which in my case is literally true since I work full time. It tends to get people off your back without saying too much. Usually they are just looking to categorize you and figure out how much money you make or how educated you are.

you have to ask yourself what advantages you will get by being a prop trader if you are already using IB and happy with it.

options expiration weeks are always tough and this one is shaping up to be tougher than usual. It might be better to be flat this week. I don't think the market is set up to provide profits every day, which is a good reason not to quit your day job. Trading is not really a job, its a risky small...

I recommend tc2000 if you are interested in doing things your own way instead of buying a black box system like indigo. With indigo it either works or doesn't work and you are just stuck with it. With tc2000 if something doesn't work you just change it yourself.

I think spot gold and the XAU are consolidating in a trading range and we are near the bottom of the trading range. I'm long July calls on the XAU again ( did it 3 times last week ) trying to play the trading range from the bullish side only.

"real" realtime is very hard if not impossible to deliver over the public internet. The internet was not designed for realtime traffic, there are always delays and the delays vary from user to user and the same user will experience different delays at different times. Even to listen to...

EBAY is a nice mover, but there are easier things to short.

gold is looking like a good overnighter.

you are right on the money arbtrader. Survivorship bias is a big part of the problem that causes people to have unrealistic expectations and to judge themselves way too harshly.