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  1. tommcginnis

    Article in Forbes about TA

    Harris goes on and on about (according to him) how knowledge of popular TA techniques *informs* the market, which dilutes the effect. This is a well-used turn on the Efficient Markets Hypothesis, and sensibly poses "Well, if I know that the price of JKL equity will be rising above $X a share...
  2. tommcginnis

    Article in Forbes about TA

    More claptrap per paragraph than I have seen in a goodly while. Contradiction, hyperbole, reducio ad absurdem, all awash with red herrings. Shameful, that such crap would appear in Forbes, but I guess Forbes hasn't been what it was for some time, eh? A bottom line?? For someone who espouses...
  3. tommcginnis

    Opinions please.............???

    You just made *my* day...
  4. tommcginnis

    Opinions please.............???

    Nothing magical in there. (Nothing magical about any of this. A lot of first and second derivatives, and a crap-ton-load of sign changes. Hoo boy. I used to teach math. I was a non-mathematician, *struggled* with it all, and then found out the dirty little secret that it *is* just a language...
  5. tommcginnis

    Opinions please.............???

    The SPX closed at 2249 tonight. Had I sold the Jan13 2200 and bought the Jan13 2195, I would have pocketed 65¢, and been required to put up the $5 difference in strikes as margin capital. But had I also sold the Jan13 2300 call, and bought the Jan13 2305 call (and pocketing 45¢), since it's in...
  6. tommcginnis

    Opinions please.............???

    The education you seek is very, very expensive. Have an exit planned before you enter. Trade both sides to utilize your margin capital twice. Don't ever trade your mortgage payment (or your retirement dollars) without a couple of YEARS of daily, busy-assed experience. Volume = liquidity. Favor...
  7. tommcginnis

    Need help contructing a position

    Another (undoubtedly unhelpful) thought: There are only 4 ways to do options -- a 2x2 square of long and short, against puts and calls. Seriously. Anything beyond that theme is variation. (It's great music, but still...) DRAW THE PROFIT/RISK GRAPHS for each, and then, like a jigsaw, put...
  8. tommcginnis

    Does this work? Why?

    You have yet to produce anything, gen-yus.
  9. tommcginnis

    Does this work? Why?

    Too scared to have your DIX out with the "irrelevant" guys, eh? Okey-doke. But, data is data. And eventually, you'll learn that there's price, and volume, and........ NOTHING ELSE. But if you want to keep searching for The Holy Grail Of Trading, I am sure there will be somebody to sell it to you.
  10. tommcginnis

    Quitting day job to collect weekly premiums - realistic?

    Poor (over-quick) writing on my part. As a matter of fact, he *did* take quite a bath in his first year of "active" trading. Made some coin, got cocky, lost half of his account *while* leveraged to the hilt with margin calls. Buckled down, pounded his fist glumly with "It'll take me 2 years...
  11. tommcginnis

    Does this work? Why?

    "btw, This forum is ridiculous. I start this thread to talk about dark pool data and an apparent edge hoping someone could confirm and all i get is canned responses that have nothing to do with it. Does anyone even know what HFT or dark pools are? Bueller" Errrrr, hey. Before you get to...
  12. tommcginnis

    Credit spread strategies

    How to "manage" trades in which the market is assailing your position? 1) Remember that delta has multiple rolls. Know each. 2) If your troubled position has a short delta of, let's say |0.40|, and your "Uh-oh!" Rule sez that you need to address any position over |0.35|, then it's time to roll...
  13. tommcginnis

    TastyTrade Method

    https://www.tastytrade.com/tt/shows/best-practices/episodes/iron-condor-comparison-11-07-2016 Not to beat up on TT or anything, but I happened upon this (Nov07) "segment" right about the time it was posted, and thought "Wow -- yet another example of sloppy, rush-it-out-the-door 'research' -- and...
  14. tommcginnis

    Jim Rickards & Peter Schiff 2016 - Gold market, Global Economy Forecast

    Just like Gramma's clock. Twice a day, it's right on time, exactly, perfectly. Amazing.
  15. tommcginnis

    How Do Professional Traders Define Profitablity

    It is inconceivable to me, that no one has yet mentioned The Ferengi Rules Of Acquisition At any rate, I am simply relieved at seeing RISK make its way back into a conversation about reward.
  16. tommcginnis

    Quitting day job to collect weekly premiums - realistic?

    I have a friend who does what you seek. He started with high 2s, and may reach 1mm next year. This is over a decade or more. He was a full-time attorney, now his practice is "a hobby." I don't like it. I told him just this past week that he practices in The Black Arts. I am very much biased...
  17. tommcginnis

    TastyTrade Method

    There is no basis in sound mathematical modeling, nor statistical study, to support any such TT "45 Day Rule." This is a fiction manufactured by Sosnoff, ON CAMERA, with each of Al Sherbin, Jacob whaz'iz'name (who was NOT in Booth), and Tom P, each saying, ultimately, "You cannot optimize that...
  18. tommcginnis

    SP 500 3rd Dimension

    Yeah -- any time I think of the confluence of world events -- politics, tragic storms, inventions, migrations -- and all their effects on development and consumption of resources and such.... the one thing that just jumps out at me, *all* the time, is PLATONICCCC SOLIDDDDDDS! Sheeesh. The...
  19. tommcginnis

    In Indianapolis, trading via IB??

    Bump debump de-bump-bump.
  20. tommcginnis

    What would you ideally want in an exchange?

    An ability to go back in time -- maybe just a short while, but......
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