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:D

May I ask you how?

O.K. They might help you to have a better grasp on the risk reward aspect of buying or selling an option. However aren't you still supposed to have an opinion about how much and how fast the market will probably move in a given direction? I mean, if you have a sense of how volatile the market...

I would like to know from professional individual options traders if they find any good use for the complicated option pricing models, like delta, gamma, theta and others. Thanks. Sucker

"It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!" Jesse Livermore

"The way to make big money is to determine the major trend and then follow it." George Kleinman

Now let's put the winning percentage poll http://www.elitetrader.com/vb/showthread.php?threadid=11250 into proper perspective.

Well, according to John J. Murphy, the best traders make money on only about 40% of their trades. I think he means over the long haul and in a trend following strategy combined with classical and prudent hold to winners and let losers go money management.

Valid point. The poll is intended for a trend trading strategy.

"The best traders make money on only about (*) of their trades. That's right. Most trades wind up being losers. How then do traders make money if they're wrong most of the time?." John J. Murphy * The percentage will be posted after we have the average poll results.

"The fact of the matter is that markets actually move in three directions - up, down, and sideways. It is important to be aware of this distinction because for at least a third of the time, by a conservative estimate, prices move in a flat, horizontal pattern that is referred to as a 'trading...

"The only predictable thing about the markets is that they are unpredictable." George Kleinman

Forgot to say: it is just out of interest... :)

Fellows: Refco has an aggressive trader working for them at the Soybeans pit at CBOT, who's a kind of leading dog for the fund operators. Does anybody happen to know if they are executing orders for their own accounts or for a hedge fund? Also, what kind of compensation does their pit...

How to close one's account in ET?

Different sizes suit different strategies. He who trades size is trading trends in the big picture... to reach a comfortable level?

:p Being a confessed sucker I feel more comfortable about it. BTW, interesting signature (Tao) Te' (Ching). Sucker

In the end it all boils down to having proper respect towards the market, doesn't it? You remind of a trading maxim by Michael Marcus: "There are old traders and bold traders, but very few old bold traders."

The statistics of failure in the business are overwhelming. It's often said that about 90% of individual traders (and maybe funds as well) fail and fade away with time. On the other hand, very little is known about the long lived, successful traders. Others would say it's just O.K. Without the...

In the end it sounds like they belong to the same category. However I like to view a CTA as a newsletter writer as opposed to a CPO who does the hard work himself. :) Thanks for the explanation.