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What do you mean, or what does Sosnoff mean, by systematic? You cannot just sell volatility blindly. You have to make some kind of correct prediction about the direction of volatility or the direction of the underlying, or both. Yes, you can sell your straddles, flies, condors, or what have...

Maybe we should talk a little bit about why the tax code favors people with capital. Could they be the ones growing the businesses, creating the jobs, taking the risks? If I receive no reward for taking a risk other than paying higher taxes, I would take no risks, and there would be no jobs...

Seems like this thread has gotten a bit off track. But the title reminds me of my days in the poorhouse, when I used to read "tips" about being frugal. In those days, I did the stuff a normal poor person might do, like learning to use a crock pot, taking the bus, comparing prices, and buying...

This is an interesting view. As an American, I agree that there are many people who don't want to do anything difficult. I am speaking generally here, and the following does not apply to everyone. However, on the whole, we would rather watch something stupid on TV than read a scholarly book...

I have noticed certain common elements in the behaviors of people who are "losers" and I do not refer solely to trading. 1. They do not see or admit their own mistakes. Everything is someone else's fault. The deck is stacked against them. 2. Although they may not see or admit it, they...

I agree it would be interesting, but he probably will not live that long.

Still trying to figure out what would be a good Christmas present for Janet. Nothing seems good enough.

http://www.amazon.com/12-Habitudes-Highly-Successful-Traders/dp/0934380740/ref=sr_1_2?ie=UTF8&qid=1426524614&sr=8-2&keywords=ruth+roosevelt

no

Good for you on the dry cleaning stuff. Good work.

I trade to make money without giving up a lot of time for it. Although there are other things I like about trading, including the wonder of watching the ebb and flow of markets, the fun of having a trade come out well, a sense of independence, and the knowledge that nobody can take it away from...

Hear, hear. The only way around it is through it. Sort of like trading, huh?

You can only develop balance and consistency when you have faith (faith in your system), when you understand how to play a probabilities game (you do not focus on the results of individual trades, but rather on trading your system correctly) and when you trade small enough (you are at or below...

We need a hobbit or something.

Yes, well, you can have both. One can trade the boring, tried-and-true system with most of the trading capital and use a small fraction for something crazy. You just have to keep it corraled in terms of size.

I don't think this can be said any better. This is absolutely the holy grail.

You have to buy a call with no time value in it to get rid of the volatility issue. For example, I just purchased an IWM Apr 112 strike for $11.35. IWM is $123.10. What is the time value in this call? 0.25. This call will largely behave like the underlying. The delta is about 0.91.

You don't sound like you are planning to lie to the IRS. But I feel obligated to write because others might see the reply to your question. Don't lie to the IRS in a case like this (a circumstance in which they can prove you were lying). They call that fraud. If you are lucky, maybe they...

Wiz, This is a complicated area because of the way SEP IRA contributions are treated and the variability in what companies charge to help you set up a SEP 401K. I suggest you hire an accountant to help you figure out which is better in your situation rather than relying on this site, on which...