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lol...little did I think that another titan would fall so hard and so fast...very surreal times...

Matt: After looking thru all of those listings in Plano, TX and then hearing that rents are at $500, the situation down there must be very serious...How bad are things for people in Dallas right now? You said guys who were formerly making six figures are delivering pizzas...this is...

there are many successful traders who will scale into positions...does that mean they add to losers, yes...if you can perfectly time every entry, congratulations to you, but I doubt you can do it...And this whole notion of taking small losses all the time...fine, it works sometimes depending on...

This is the aspect of trading, that I believe is more art than science...Another person on a similar thread stated that he made the majority of profits from his "runners"(i.e. the free trades after you have covered your costs on partialling out on first contracts)...I think that is absolutely...

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man, this stuff has my blood boiling...Reading the news nowadays is hazardous to one's health...

I agree...this is a good point...the difference, imho, is that 1929, 1987 were very intense and dramatic meltdown's...A good analogy would be someone who is killed in a car accident...It happens so quickly and with, what seems like so little warning, that the shock of the event is super...

Huios: Are you trading multiples or single contract positions? If you can trade multiples then you have more flexibility.

well said...it all goes back to time frames, risk and profit objectives again...How many bigger traders put on their entire position at one price and then say to themselves, I will get out after 1 point of noise against me...The noise in these markets is extreme, with buy/sell programs hitting...

That is not true at all...You just have to know when you are wrong and have deep enough pockets to absorb the loss...Marty Schwartz used scales for years and he has an outstanding track record...You just have to get the math right and know what invalidates the trade...And averaging down inside a...

oops...somehow my response was bold faced as well as the quotation...damn, hate when that happens

I didn't see the incident, but from the sound of it, unless there was a price shock, there is no way I could see this type of extreme occurring at that time of day...The programs, arbs, etc...keep that relationship pretty tight at almost all times of day...With fair value so tight to the cash...

this is too funny...I remember this same exact topic about 2 months ago because so many people had negative reactions when they told others they were traders...Either people looked at them with complete skepticism or simply asked questions like "how can you possibly make money in a down market?"...

I figured that Natenberg's book, "Options Volatility and Pricing" was more popular amongst the market maker bunch since it gets a bit more into the stats, etc...Either way, my all time favorite was Cottle's "Options Perception and Deception"...This guy just takes options to another galaxy...

If I might ask...How did you end up finding two other traders to share an office? Was this just thru word of mouth or did you advertise to find other traders? In the past, I had toyed around with the idea until I became something of a security freak and did not like the idea of sharing an...

well, there are so many differences so I don't know that anyone could answer the question perfectly...For instance, if you are doing spreading in options looking to profit on where the market is NOT going, then you are using options in a manner completely opposed to the directional exposure of...

Excellent point...People fail to realize that calls following a high volatility downtrend tend to compress vega's quicker than you can get the "pop" you are looking for...

I agree...Markets drift lower breaking thru longer term support in unspectacular fashion...IT is not like the selling we saw in bull markets where it went down and went down fast...Now, it is just a death like drift...But when it goes up, it goes up fast as lightning after those bear market...