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I see your point and I agree with you. There are areas where I think one would use them/need them , but not really for the advice. Their value to me would for instance be in knowing updates in laws, accounting, but most importantly because they know other clients and financial advisors...

You are right! An analogy would be this: people generally trust a bank because the building where the bank is located looks solid. Anything that can make people feel good goes. Trust is the name of the game in attracting and keeping money (even if one loses it at the end. Then they say it is...

Did you read my earlier post? Is it ok to ask why do you still have him/her as your financial advisor (if s/he is still you financial advisor) ? It seems to me that s/he needs to be advised rather than advise others.

Good advice. I would just add that point 8) "8) After trade is done, put in stop loss in case of free fall." may not help at all as gaps typically happen in non-trading hours. A stop is worthless for such gaps. That is why if one write a put on a stock, never be naked particularly when you can...

The constructive comment is that you learn more before trying live dollars. Find your edge in a way you could say I will make money because of XXX, and the reasons are YYY. The reasons should not be something like I opine that volality is low or high or whatever. It should be something...

Why naked when you can buy pants for $5 or less to cover yourself? The cold breeze may come when you are soundly snoring in the night, and find out only in the morning that what was nacked is now buried in someone else's pocket. As for your doubt, you just need to know more. But I have no...

If the strategy cannot be written/explained on a lunch napkin, then it is not profitable. Your financial advisor needs a financial advisor, as for you, you need to change your financial advisor or become a financial advisor.

I agree with you. It was one of the reasons I decided to respond to this thread, as I felt the person summarized it so well!

You doubt what I wrote about the guarantee?

My friend Miz: Pls. do not take it negatively. From reading your posts, I have a sense that you need to learn a lot more. I hope I am wrong and that you make a lot of money, but I thought to say my (blant) opinion. I forgive you if you hate me for what I just wrote.

From your point of view it may appear excessive as you have experience, but this person just lost 7K. There is no excuse for this. No person on earth should lose this amount of money unless it is 1% to 5% of a large account. It is likely that this person does not have a 700K in his/her account...

because it is not available (not all stocks are optionable).Want my advice, stay away from writing options on single stocks unless you are very experienced and/or very diversified and/or holding the stock.

You made many mistakes in one mistake: never sell a put on a stock, never sell a put on a stock with negative earning, never sell naked, never sell a put on anything in a down market, never sell a put on anything in a down trend, never sell a put on a stock in one of the worst sectors in the...

Be careful about ITM options the day before ex-date. , but probably not the way people think. If someone think that an ITM call option is overvalued on the day before ex-dividend, that individual would probably get sticked. There are better ways to play dividend. Dividend is one of the plays...

If you do it one Million ET traders will kiss your ass in downtown new york in front of NYSE. Otherwise they will ... to you.

Tell us which you think is the best work ever written on Options. Hands down I think it is the work of Bachelier (1900). It is old, but it is the best in my view.

I also think that Cottle is good in terms of the way one should look at options. I am however not sure that he is a top trader (otherwise he would already be a multi-billionaire). He also seem to have problems with writing,typos, etc, which may indicate other communication problems. I however...

Is he the Tony Saliba featured in Market Wizards? If yes why not go for the man (Tony Saliba) himself, unless the top of the tree is really not the top of the tree.