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Good luck! I am looking forward to your journal. Cheers!

Hefty- I kind of like Maison 140. Been there several times. Hang out in the dark little bar and almost guaranteed some celebs will pass you by, or at least some tight little bodied women looking to become a celeb :p You could always pony up 4x the price and move to the Peninsula accross...

Couldn't agree more. Nothing like floating in 2 feet of fresh pow to keep the mind clear for trading. I can get my adrenaline pumping from skiing the Chutes at Mt. Rose instead of from the market or some silly internet message board. Maybe there's a reason the area is loaded with money...

Mav- It's my understanding that the clearing firm could change the percentage moves that they use at anytime as well. For example, if vol picks up in a big way on the S&P, they may go 8%/6% to whatever they feel is applicable given current conditions. I haven't seen them do that, but I...

Damn B, I had already reduced my time on ET to only reading your exotics journal. Now you've just doubled my time spent, as there will now be two threads to follow. As always, looking forward to learning something new. On a more serious note, how am I gonna get you outta the office for...

I would try http://village.albourne.com/ for some responses for Hedge Funds. Just a thought. Cheers

Nice going Risk! I have one very important question: HOW IN THE WORLD DO YOU GET ANY SLEEP WHEN YOU ARE TRADING U.S., ASIAN, AND EUROPEAN MARKETS? :p

Yep. It really depends on how you trade. Great for options traders and hedgers.

Is tradespeed still being used/supported after ML's switch to the PAX network? I echo Mav's comments earlier. It was patched together with equities, options, and futs platforms and they were slow to get it all integrated into one solid platform. It did show some promise, but wasn't close to...

Don't forget that there is a rebalancing too. This should mostly be done already, but it can make a difference also. Cheers!

welcome to my world of hedging! frustrating as hell, isn't it? you've done great with them so far. keep it goin'

I spoke to Echo and they wanted a minimum $75k down to trade options with a risk-based haircut. They seemed skittish, which is usually a sign that they don't understand derivatives well, even though they are affiliated with PAX. Zone is also set-up for trading options (a JBO w/ GS), but they...

Very interesting. Besides straight directional gamma trades, there should be some interesting uses with these. Anyone thinking of possible strategies yet? Assuming there's some volume ;-)

Coach- Good job on the journal. I also trade options for a living and just wanted to throw out a piece of advice for some of your followers that maybe don't understand the greeks as well as you do. <B>WATCH OUT FOR GAMMA!!!</B> I would not be entering any close September spreads with...

Take a look at redoption.com and optionplanet.com. I believe they are both part of Think or Swim. Very reasonable prices for the info. I would read some books before taking any class, though. Do a search here for option books and you will find a good list. Cheers!

With Merrill's switch to the PAX network, I am now using Preferred Trade (owned by Fimat). Only been on it for a couple of days, but can call it non-offensive. It's got a pretty nice analytics package (built for MM's), but unfortunately, no futures trading. I am still waiting to get my...

riskarb- Great journal! Just curious if you have a target return in mind? Something like 3-5% per month without a lot of deviation. I know this is just a sub-acocunt of a larger fund, but some investors can get a little weary of big numbers. Keep on rockin'!

Actually it can be quite easy. Just like joining any other trading arcade. You have to be licensed and bring in your own capital to deposit into the pool. If you have a couple mil lying around and want to avoid the pool risk, just purchase a B/D for around $40k, join an exchange like the...

There are firms that offer risk-based haircuts. They just aren't open to retail clients. It's much like SPAN, except that you can cross margin between exchanges. For example, hedging CBOE options with CME futs. Cheers

You aren't considering gap risk. Hard to cut losses when you can't trade.