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When you go to Vegas, do you walk around telling people not to play? I don't. (FWIW, I also don't play myself...) I guess that everyone here is over 18 and can make their own choices, and they are smart enough to read and write, or they would not be posting here. So I think they can...

I don't think anyone here has said that it is easily attainable. The fact remains, however, that there are people who succeed at it. So it is ludicrous for people to tell the OP to give up before he even starts.

It depends on what you mean by 10,000 hours. I have not spent that much time actually trading--maybe only a fraction of that, and I am making enough to live on. However, if you count all the hours I have spent studying the state of the world, economics, politics, and everything else that...

Read a lot, trade a little. And ignore the people who say you can't do it. There are people who make a living at this--yes, it can be done.

hopefully us traders (pushers) can make some money off this crazy scene

Very sorry to hear about your mom, and I hope she will be well soon. I could not figure out how to play the vaccine. I work in the pharma industry so I cannot really trade those stocks due to insider info rules at our company. I was not sure what else I could really trade to take advantage...

Yes, that pretty well sums it up. In options lingo, these are "directional" trades, which require you to guess direction and be right about it within the time frame prior to expiration. I highly recommend Options as a Strategic Investment by Larry McMillan and Options for Rookies by Mark...

They are like any other income investment: the higher the income, the greater the principal risk. Most of them do best when energy prices are rising. They send you a K-1, and in my experience, most of them send it late or at the last minute. If you own a few of them, it's a pain in...

Chad, Well, you are asking pretty good questions for "still a beginner." I'll try to explain in a different way here. The probability is not sufficient information to tell you what the expected return (the average return over a large number of trades) is. It is necessary to also take...

A friend keeps telling me that speculation drove the price of oil to extreme heights last year. I'm not too well schooled in futures yet, but I don't see how this could be the case. The 'price' of oil that is quoted in the media is what, the spot price or the near-month price? And doesn't...

You will not be able to stop this from happening in another 1987-style debacle. Your money will be gone at the open. Just another argument for insurance, but mostly, an argument for staying small.

I know this thread is not really about whether to adjust or not. But Greeks are nice to help you adjust. Now, on the subject of adjusting or not: The expected return of just about any options spread that is held until expiration is zero--if you use the implied volatility of the option. If...

I looked into Mauritius about 15 years ago. At that time I think they would let you in if you had some reasonable amount of $$. 10% tax rate, stable govt. You would have to know or learn French to live there. http://www.state.gov/r/pa/ei/bgn/2833.htm

I am wondering whether you are sure this is true, and if so, why?

smithfix, It pains me to see this question. Didn't our favorite Uncle Ben get all dressed up and appear on TV today just to tell all the nice little boys and girls that we will not have inflation? Maybe you want him to give you a piece of candy with it....

Yes, well, put. The dividend is already "priced into" the premium, so it makes no difference what kind of stocks you write these calls on. Very high dividend stocks usually have very low premiums. Stocks are wily--they change their ways without notifying us. If I had a choice between...

Buy yourself some FXA, FXB, FXC, FXY, or whatever you like. There are options on them, too. They don't move very fast. If they stop rising, then you can get out without losing too much. If they continue to rise you are taking advantage of the dollar's fall against them. The "commodity...

The oil majors usually offer pretty good premiums, and a decent dividend: XOM, CVX GS, CL, AXP, MCD, KO

You don't say what you are trading. Asset allocation affords some protection. If you can find several things to trade that are uncorrelated, you will be safer. Pretty much all equities are correlated with each other. That leaves bonds, commodities, currencies, or etfs/etns that are based on...

In response to the OP's question, there are several active forums on the Morningstar web site that are very useful and interesting to read. You have to join the site for about $150 per year. Morningstar is pretty good at picking funds, but not at picking stocks. They do provide an in-depth...