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Howard Use a BLOG. Nobody here has any advice to give you if you are convinced your system is working. On a BLOG you can ruminate all you want without the backchat. I think the usefulness of any backchat has passed the point anyway. I´m interested in what Arabian Nights has to say...

Im saying I almost always intend to buy the bid or sell the ask, or ideally both. Arabian nights. I find that interesting. I´ve been waiting for the daily to settle down and make a 25 cent to 30 cent range in the SPY and then buying the low premium with a limit order and marking up .12...

Well this amateur is learning a few things. Some of it is more involved than I want to get. Arabian Nights intrigued me with saying the spread should be in his favor. I´m starting to notice the widening between bid and ask, when a move is expected. Trying to figure out how to play it...

Ahhha ! Thankyou. That is exactly what I am doing. More or less? Though I am learning to read the spread a bit, but haven´t figured it out yet. The wider spreads are taking the meat out of the bun I noticed this last latter week and I earned nothing, but broke even and paid commissions...

All very interesting to this amateur. Some of it is over my head. What are scalping outrights? Kindly explain this jargon for me!

Thursday morning. Nice little bump this morning. Didn´t make much on the OEX options. The price was way overblown. Did manage to get out with +$70 though. On the SPY that was a little better, made +$556 net on that, after commissions. For you cynics, blase, old tomcats on here, been...

tut! tut! tut! Oh ye of little faith!

Option Coach Just scrolled through some back chit chat I missed and got that miffed comment about professionals do not need to tell us amateurs their ROI figure. I hope you don´t get mad at me, I wasn´t really using your name derogatory and true you don´t owe me anything. What I...

Maverick Your point is taken. Also the point comes when size in funds, hinders the capability of trading short term trades, etc. So, yes I´m sure there are factors involved, other than size of the bank account. For the small retail trader, I often wonder what is the maximum you can...

Ah ahhhhh! Now the truth comes out. The experts agree, the ability to predict direction is key, no matter what you do. Thanks for the confirmation fellas. _________________________ There is a problem in trying to dialogue as an amateur, with...

Richard Rimes comment. :cool: Probably right Richard. I´m in the Caribbean, so it is sunny and warm, nice Spring day. ( just to make you jealous ) With just one or two trades a month in my regular money making methodology, I´m fishing around in my spare time for something else...

This looks like old stuff years back. I´m just diddling with SPY options. Not intending to day trade, but seem to be ending up that way anyway. The nature of the moves I guess? I´m trading using the 10 day hourly chart in funny money. Anything shorter doesn´t seem to make it...

Howard That was an excellent analogy and well said and explained. I´m with you in concept, just not with you I think in practice. ATTICUS and OPTION COACH are symphony class orchestra option players. I´m just a humble one KEY , three chord, ukulele player. I doubt I have the...

Atticus " The big question in my mind, is how much net profit do you have left, after all these permutations?" - 2% or risked capital invested? -

Oh sheesh! For now I just give up. He must play Chess 6 moves ahead?

Oh lordy me Mushim Seeker, or whatever. You mean there are more of you guys out there? You understood enough of that Mandarin, or Orthodox Russian that ATTICUS wrote, to ask an intelligent question about it?

Richard Rimes Ouch! That comment hurt, the three chord bit. When I was 18 I hitchhiked all over Canada and the USA sleeping in cars, empty trains and barns. I would pay for my supper by playing my six songs on my ukulele that I knew. All in the key of D. Had a great time, but had to...

ATTICUS You made me feel like a baby with a diaper on full of poop and unable to do anything about it as I cry. To me, that article was so deep I couldn´t even follow it. Other than in a general sense. I don´t even know where to go to learn this stuff in a practical application...

Yes I like that post by a decades long professional. The problem with many winning strategies is compounding. As someone said, if you could limit your trading to 4%, or say 25% of your total account, if you blew up, it would not cripple you. Compounding is of course GREED and we all fall...

Good thread going here. I do thank all you old farts who can´t leave a computer alone, even on a Sunday. Somebody argued against SETUPS, but I like them. What I have discerned from the contributions so far on the butterfly, is that the long butterfly as a short term volatility...