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That settles it :)

I don’t think anyone has a crystal ball. From what I gather reading about famous traders is that they start with a thesis. Then they come up with a trade where, if their thesis is correct, they stand to win multiples of what they stand to loose. In no way am I comparing myself to the great...

This is not how I understood the video. Never does he say anything about easy money. I think his point was that you might have chosen iron condor because you believed that stock would stay range bound. However, while your initial premise proved to be correct, something has changed your mind...

Why don’t I hear about this more often? He says “pros” use it all the time. Most people here seem to be doing set-it-and-forget-it kind of strategies (like butterflies). My guess is these guys find some mis-pricing due to skew or whatever and just lock that in. Anyone can comment on concept of...

So is it intra-day or not?

Is your automated trading intraday-day? If so, you should be able to trade it manually (unless it’s too fast)

If you hold shares and the stock tanks, you will not be able to sell short puts. So getting assigned changes the trade to be a directional bet(because you are holding a synthetic call and hoping for stock to rally). It seems seasoned options traders here are very much against directional trading.

@Millionaire, not sure if you are just making fun of discretionary trading here or serious. What exactly are you doing that is gambling? If you post positive PnL daily but call it gambling, what gives?

Have you considered taking assignment? You would have long stock at $262.5 and long put at $255. I guess you could sell calls against the stock if you "must fight" theta.

Discussion would be interesting. I don’t have my mind made up, but my understanding of FX microstructure is as below: Reputable FX Brokers do not take the other side of customer trades(aka straight through). However, they do send all order flow to liquidity providers. While it’s similar to PFOF...

This is not sarcastic, are you saying there are regulated FX brokers? There’s not even anything close to NBBO for FX data. Which data source would you use for trading FX?

Just a current snapshot after a blood bath. -$2,549 mark to market. No chance to make any money selling premium on these without increasing risk.

I’m not an expert, but forex is a bucket shop, and no bucket shop will allow you to game their customers… that’s what bucket shops are for. So you can’t trade HFT with forex unless you have a relationship with them.

I agree with you, sort of. If you are starting out, definitely start discretionary, imho. After awhile, the more automated, the better. Try to retire with a few fully automated systems :)

I don’t think we, as traders, should have such strong opinions. Everything is BS and nothing is BS. I can tell you for a fact that both can be very profitable.

They are subjective! Can you give me a PA-only trade set up which is not subject to interpretation?

Imho, trading using PA is gut-feel (experience?) trading. It’s discretionary trading period. If it wasn’t subjective, you would have been able to code it into a system and watch the money roll in.

You were trading side by side with Ed?! That’s impressive! Could you please elaborate on above? Livermore started as short term trader(tape reader) and moved on to become more of a position/trend trader. Thanks!

Well, than they are not really naked.

Why do you say “borrowing?” Don’t they (legitimate companies) just use cash to buy stock? So they reduce shares outstanding which improves per-share earnings. I assume lots of cash-hoarding tech companies will buy shares on this pull back. Unless they would rather buy other companies. Either...