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haha I agree, no free lunches... believe it or not I lost about 400 on TASR calls today, imagine that

Great advise G_Morgan but I think he's looking to go into trading on his own, not for a firm or OTM

pimpin' aint easy

hey bud, I've been trading for almost 2 years now and I turn 17 in september. give me a pm and we can talk :)

guess and check?

damn, you guys are right back to the poker tables for me!

20% might be a little tough, shoot for closer to 10-12%. When trying to generate an income, lower risk is a priority.

4) Dont buy straddles :)

Maybe I can bring the thread on topic... I too am slowly turning bearish, this job data may be what finally turns us into the bear. It is only bringing us closer to the inevitably higher rates, I'm thinking august, maybe earlier. The market will be anticipating this. The last few days on the Q's...

hey dumb a$$, waggie knows about 100x as much as you about markets and trading, seriously stfu already. VIX measures VOLATILITY. There is a TENDENCY for volatility to go up when spoos is moving down and for vol to go down what spoos is going up. This is a TENDENCY, there have been many cases...

Why? Because only a small percent of traders are profitable in the long run (I have been profitable for the past 2 years, since I started trading, doesn't mean I won't lose it all in a few months, who knows), and those that are aren't dicking around on a message board

nah, not much risk involved in clicking the top radio button :) I give you my personal guarantee that not a single person that reads this forum (let alone posts on it) is up more than 500k US so far this year

Decided to hold off on the spread so bot 20 QQQ APR 35C this morning, doin' very well there :) Made back what I lost on my previous position and then some so far.

That's for a debit then, right? Let me try to understand what's going on here (sorry for turning this into an options lesson). The put skew is working to my advantage, puts are priced higher than calls because volatility tends to go up on drops more than on rallys, correct? I don't have capped...

I don't speak greek yet, but considering a bull put spread on the DJX short APR 104P long APR 99P what do you think riskarb? risk/reward are about equal it seems, purely a directional bet as far as I can tell, but what do the greeks tell you? :)

What's there to pursue? It's not the holy grail, if that's what you're looking for

News is important to financial markets, it can instantly change the outlook of many speculators thereby instantly creating a load of volatility. The key to playing news is understanding that it will ALWAYS move the market along the line of least resistence, wherever it is at the time. When...

Sure you can. Fear and greed are the same as they were 100 years ago, no? Compare a chart of the '29 crash, '87 crash, 2000 crash and the aftermath, even throw in NIKKEI crash, notice the similarities? That's because fear and greed repeat in predictable patterns

How does it handle choppy markets then?

Sure, fair enough :) I may consider posting another journal soon, higher time frame (holding for weeks), got the idea from reading about what some successful fund manager was doing, I believe he said he's doing it with mutual funds now. Basically it is to find stuff in a low volatility, tight...