Search results

Thread is closed now. Good luck trading...

2002/2003 is about the time I began trading futures and futures options, yes. I had traded stocks and stock options quite a bit before that, but futures were entirely new to me. One of the reasons I explored futures if I remember is because I had heard about the tax benefits.

Also, the reason I chose NQ this month was because I felt had a better feel for the levels. I trade TF and ES as well, though there is a big liquidity issue with TF.

I will post my current market situation just as an example. NQ is currently 1625. I sold NQ 1490 and 1510 puts a few weeks earlier when NQ was trading around 1580. Those are about 40% of the maximum size I would prefer to take because at the time I thought the market could probe lower. I...

I'm not sure what you mean by boomerang. But if you are referring to whether I set limit or market for orders, I usually start by setting limits because the spread is wide for futures options. If I can't get a fill, I will take the market after trying the limit because I want the position...

I started this thread because I feel I am where many on this board hope to be, not because I am a fantastic or great trader, but because I've been trading professionally (my sole profession and source of income) for over a decade and make a very good living from it and plan to do so in the...

What do they do for me? As I myself learned to trade, I am the type of trader who learns from experience. There are some traders who can read something and act on it precisely and be successful. I'm not one of those as I need to experience it through success and failure in order to have it...

There doesn't seem to be a question here, but I will say this about trading futures options. When I do initiate a position, yes, part of my criteria is that I deem there is a very low likelihood that the options will go ITM. Because just as you said, and I have already mentioned, it is...

I'm not sure exactly what the question is here. If you are asking if this is what I do, I will say that I don't trade in steps and that are many many more steps if there were. What you have outlined, sounds reasonable enough for each trader to pursue and think about.

I would probably have him shadow my trading and I would try to verbalize what is going on through my head a little. I think what is important is that we would both need to be (potentially) a similar type of trader, otherwise he wouldn't benefit much from me and it would be difficult for me to...

I've already answered the question. I usually hedge the options position with the underlying when they go ITM.

I dislike bad months just as much as anyone but I don't really focus on P/L all that much. When a month closes, I have an idea of what I did right or wrong, and that's more what I focus on.

I see now why you keep coming back to this question. If you google my username, you find someone else with the same username in another forum. I find this more than a coincidence as well, but that is not me and I don't know why they have the exact same username. If you google my...

Targets - already answered this I believe. I don't have formal price targets. Trailing Stops - I've only used them once or twice I think as far as I can remember. And actually in those instances I think I benefited from them.

I don't calculate deltas to hedge. Unless expiration is far away, I'm usually hedging the position completely. I suppose that is taking delta into consideration in a way.

I'll answer questions hopefully until market close tomorrow.

I have a biological science background. Economics courses in college are as much formal financial exposure as I have had.

I'm not sure what you mean by trade operation, so I can't properly answer the question. But as far as predicting the market direction, if I could predict it perfectly then it would be of utmost importance. But many times I get shaken out despite correcting predicting the market direction...

The 100% cash periods will usually occur right after expiration. Much of the time I will hold options until expiration. But there are occasions when I feel I can reposition at a better price (time decay, spread, and vol decay prevent this from happening too often), so I will close the options...

To discuss both your questions... I view the market as a market of buyers and sellers. So, for me, I tend to think that for my buy to be profitable, I have to either buy before everyone else and/or make sure that there are a sufficient amount of buying after me to be profitable. For me to...