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Okay, I'll take a bet. Make it $1,000. Must be to a 501(c)(3). Conditions are: (1) Democrats take the Senate in the November election, (2) House and Senate propose and vote on a trading tax during the year 2021. If house and senate do not propose and vote, then I lose and will make the...

If the democrats take the senate next year, there will certainly be a trading tax proposed - and possibly passed - in the U.S.

One of the biggest mistakes that a new trader can make is assuming that favorable market conditions they are initially experiencing, will continue to exist in the future. The past 4 months are not at all representative of a normal market. You should be putting your attention on furthering...

Your timing and instrument selection would need to be absolutely perfect in order to even overcome transaction costs and spreads. But I suspect you already know that.

I'll backtest something for you with Wells Wilder, so long as it is not complex, and utilizes EOD data for U.S. equities or indexes. I trade my own systems, not interest in stealing someone elses.

InvestorRT at Linnsoft.com. But I wouldn't bust your ass just to find something with a Wells Wilder Moving Average.

A reminder here that stops do not always equate to a price level. Time stops, volume stops, bar stops, volatility stops, etc., are often more useful.

Yes, you'll be looking at high transaction costs with all that activity. There is no substitute for experience. So create your scenario with single contracts and see how it plays out. Learn from that experience. Good luck.

Keep it simple. What happened yesterday? What happened this morning? What were the highs, lows, opens and closes? Master that for the right instruments, and you won't need anything else. Good luck.

20 years, that's how.

An experienced trader knows that strategies developed with backtesting are not timeless. Markets change, and the clock keeps ticking. But that does not at all negate the value of backtesting in the short to medium term. To call it useless is to denigrate an important tool that can save a lot...

Yes, the time to look for homeowners insurance is not while your house is burning down.

If your reasons for initiating the trade are still valid, then stay with it. If not, then exit or set a stop loss. The time to start playing around with protective strategies is before a trade, not in the middle of it.

Are you in SIM, or did you actually buy 600 contracts? And what is the the underlying?

And as in 2001, Nasdaq 4000 at the end of next year.

And Bernie Madoff couldn't have said it better.

This is a .20 spread. Run calculations - be honest with yourself - on the percentage of capital that you are giving up on the spread. You always need to assume that you are going to be paying the spread. New traders often ignore this cost, but it can be very significant once you start to put...

Credit to you for at least holding yourself to a single contract. Debit to you for following some lame-ass stock pick on a POS with low volume.

Yes, a long put is a bet that the underlying will fall. But it is also a bet that the underlying will fall within a certain time frame, and at a certain percentage, and with volatility within a certain range, and with tight bid-ask option spreads, and roughly 20 other factors falling in your...

You may be under the impression, which is not unusual, that options contracts are tied directly to the movement of the underlying. But they are not. Often approximate. But not direct. The options market is not the stock market. A lot has to do with the greeks, especially Delta and Theta...