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"I completely agree. Unfortunately my investors don't." -victor niederhoffer

+1. Same experience. I'm not trying to be sarcastic here but when I sat down and looked at EVERY trade I made (I had several strategies at the time) I realized that the earnings trades (buy calls/puts guessing the market's reaction to earnings) were overwhelmingly net negative expectancy...

for the ES between 9:30 am and 4 pm EST although there's usually a lot of vol from 8 am to 9:30 when there are econ reports out. i believe london is 5 hrs ahead of us so 5:30 am to 11 am.

your trading platform should say how many days til expiry you should always trade w/ a stop period not just a catastrophic stop b/c what if price goes just above your cat stop a few times - you'd be wiped out. buying OTM puts are my preferred way of hedging - the simplest and most direct...

+1

http://www.google.com/hostednews/afp/article/ALeqM5hKvcdQYOZgfzFcHk2t-r2knha9Bw?docId=CNG.9b8819e990dda237febd3ec76a7d92db.c1 1100 GMT - I believe this is 6:00 AM EST (GMT minus 5).

i checked out the doc. here are my thoughts. ee says b/c the tick value is lower you'd be less likely to have your stop hit b/c the "stop runs" are frequently 2 points on the ES whereas they're only 18 or 19 points on the YM. this is the stupidest thing I've heard in my entire life...

if i read a book and it told me to trade YM instead of ES i would stop reading the book.

ummm....electronically traded options?

YM isn't liquid compared to ES during market hours so that should give you an idea about after hours. i'd suggest trading ES or look into futures FX like 6E or 6J.

in the spirit of encouraging others and providing actionable advice here's a true story from this past week... i had shorted the spy via put options on 6/21 and closed out the trade yesterday late afternoon for a great gain (for the love of God please none of this "pics of it didn't happen"...

unfortunately this looks to be true. i was using the noscript addon for firefox to use the old version and it no longer works. any ideas from the interwebs how to get the old version back? i'm waiting for someone to say "buy a bloomberg terminal. boom. done."

lol yeah i was def not thinking about the context when i read your post. rather than admit that i was wrong i think we should start a flame war where we make fun of each other while discussing anything except "How can a put decay if price goes down and there is more than enough time value...

i'm going to do you a huge favor and give you the super duper secret methodology for FREE. it's all based on the rsi w/ lower settings (2 period instead of traditional 14). here's an example - buy when spx rsi2 is below 10 and short when above 90. wash, rinse, repeat. i just saved you from...

gabana - i strongly suggest staying away from nadex. i've looked at it and their is no reason to use it esp w/ the wide spreads. just stick to exchange listed futures and options that are highly liquid.

No. It's a famous saying (and true!) from him. Here ya go. No I didn't photoshop this. Arjun - there is a diff b/w building a position over a few days b/c you run so much money you can't buy all in one day and receiving various fills, some at lower prices than continuing to buy over...

losers average losers - PTJ

whatever you're bidding for this system i bid 1 tick higher:cool:

+1. This is like me typing my own experiences. An encouraging note - I can think of more successful traders that lost all their money and recovered by not quitting and learning than those who never blew up. another tip: aim for singles and doubles not home runs. the former really adds up...

huggie - i agree w/ you that there's no need to hedge IF the options you're holding are a small % of your overall port however if you're holding a lot of calls for example and a rogue swan comes out of nowhere you've got a big problem. to the OP, i'd suggest taking a small portion 10-15% and...