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Thought this was a good article. http://www.nytimes.com/2014/02/03/business/the-middle-class-is-steadily-eroding-just-ask-the-business-world.html

Nice moves in eur/usd, I've actually bought in some of my OTM Bear verticals here as we've breached 1.35. This will preserve some p/l in case we rally hard next week (lots of data points out of Europe and the US, who knows what'll happen), and, if it continue this move lower, my current hedges...

Broken wing butterfly. Your easiest option is to use thinkorswim.

Interesting week for sure, I was way short delta coming in to Thurs, everything peeled off as price moved to the upside back towards my short strike (1.37), also owned some cheap OTM call verticals in FXE/6E for just this situation. Bought some more cheap otm verticals that expire with my main...

FWIW, I've been trading since I started this journal but had to make some adjustments. I miscalculated how much margin it would take for delta hedging. Initially I was going to trade ES options but delta hedging with SPY to handle the fractional sizing for a small account. However I was...

bank trader or independent? sounds like he'd have to be well capitalized during his run.

news?

Go on your sim account, put on the spread and then click 'Try PM' under the Account Window 'Margin Requirements' option. It's a little yellow box on the right. It will show your current Reg T margin and the 'what-if' portfolio margin. FWIW, I'm trying to do it myself on sim but because...

I think all the big brokers have a waiting period right after the account is opened. Once your account has been open a few weeks, you get a 2-3 day ACH.

Ha :) , well after your comments I reworked some things and I think short delta lean is the way to go. I think being able to take quick profits in this seemingly long only market is what made me want to go long delta lean, but in the big picture that should be secondary to "...mainly be there...

What exactly is 'honestly trade for a living' ??? "They just know how to get your deposit'"...Did you have a bad experience with a prop firm?

What's your problem with this guy?

What exactly is 'collect'?

Initially I worked on short vola and short delta lean, but I kept thinking that since overall I think long delta is the way I see the market going, that's how I would position myself. Ofcourse you could say 'why not just trade the underlying', but I think short atm premium skewed one way or the...

Right, so short delta lean wouldn't be as damaging in a market bounce-back rally because you would still earn on volatility dropping. If the market continued lower, you would already have short delta lean to help hedge the vola rise. Or what am I missing? If you are referring to 'short...

Well from reading ET it seems that after '08, prop firms are diminshing, due to any number of factors, more regulation, high frequency trading eating their lunch, etc.

Thanks for the post. Not many insights from prop firm traders on this board (maybe cause in the US they are dying).

Yeah, short vol now and hedge when/if it tanks. I think starting with short delta lean would make sense if I was opening a position with VIX north of 20.

tradingjournals, I changed because I'm more familiar with options than VXX. NKVI>NH, are you expecting a NFP 'surprise' in the first week of Dec? sle, I'll try to add as much analysis/motivation as I can. Generally though I think Bernanke and hopefully now Yellen have created an...

In the last journal the posts were mainly 'buying VXX partial hedge at 16.50', which IMO don't make much sense unless you were trading the exact same overall position I was. i.e. I was net short 1,000 VXX overall but I'm buying in 200 here at 16.50. Rather I'll say 'adding bearish vertical' or...