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Well Atticus has put a bee in my bonnet. A quick perusal of the iron butterfly and the long butterfly and remembering the side comments. If it is a trade to do short time with volatility the goal and not expiration. Then this quick brief look, says I need to concentrate on the Long...

Well an interesting thread. Howard has probably done a service to the community, with all this airing of experience and opinions. Couple of good ideas came out of it for me. CLEAR THE ACCOUNT MONTHLY was a good one. I had been having vague thoughts of doing something similarly. Thing...

Atticus I´ve been reading a slight bit on your comment to sell the body at the ATM and buy the wings. Which if I understand it properly is the Butterfly Spread. I see there are both CALL and PUT butterfly spreads. Never tried either one. Rather than get too technical, I wonder if...

Well Howards strategy is fairly straight forward and simple. Many people have done it similarly over the decades. I think if I was to use it, i would tweak it a little. For example: I could see where he would get wiped out whenever the VIX moves between 20 and 30, using two month out...

Sorry for the misconception. I´m out of spreads and just plain buying and selling options. Based on time honored, well known setups all over the internet and in literature for 40 years.

Atticus came up with a good thing the other day. He was talking about using only 10% of available capital. I had been using more, in order to compound, relying on good move setups, as the EDGE. My recent move over 13 weeks of 137% ROI was based on compounding. However, I was experimenting...

Okay Howard :) You are up early this morning??? It´s 5. 10 a.m. here. Don´t let the critics get to you. Just follow the music coming from your own drum.

You kibitzers. You obviously are not going to teach Howard anything. Let him be. You can´t convince a guy who is winning right now, that sooner or later he will blow up. Las Vegas is full of examples. For me, I´m through with credit spreads and Iron Condors. I think you can make...

Atticus I love that stuff on gambling systems. Great thread. Having got curious and studied them and tried them many many years ago. My other thread about trying to rationalize the IC system, finally became clearer in my mind. I can´t put it in your technical jargon, but...

Howard As you say I was assuming some ideas, but when I wrote it out, in my essay, found out that the idea was not necessarily true. Only partly true and not nearly as true, or as bad as I thought it was. Sorry that didn´t come across. I was not intending to be harsh. I´ll assume...

As an amateur and a simple guy, I´m not too fond of complicated strategies. Atticus mentioned sell the body and buy the wings. He has emphasized that you BUY the wings. Think you could give an example or two? So I can picture it, in my teeny mind, without trying to understand the...

Well the day is over and it went well. If you figure the wudda, cudda and If, components. I might have doubled the days earnings if I had got out at the high volatility this morning. Never mind. It is still February and I am still officially within my 3 month period and the return is now...

Maverick Thankyou for the honor. That is the only thing I have graduated from I guess? I spent my life as a professional beach bum and yachtie. Mind you, if I had to live it over again, I would do it the same way.

Well as an amateur trading credit spreads last year, I bombed out twice and lost it all each time. Mind you I was trading weeklies where the action is. Realistically I got attracted to credit spread trading through all the HYPE about how SAFE it was and how you could earn a steady income...

Ah ahhhaaaa! So my underlying amateur premise is right. You go bad, close the trade and take the loss? Congratulations by the way, to those cynical old farts out there that kept a civil tongue in their head, this go around. Excellent debate. :D

Interesting questions on hedging credit spreads and iron condors. I admit to being fuzzled here. Though I get the general picture. I guess I´m just a simple man. When it gets to the point of increasing your positions to hedge, I only wonder if the net result is actually worth it at the...

Howard That is what I´m afraid of. The difference between FILLS in real money and funny money, when I go cash. So will start small. KEDWARDS Inrigued me. Stupid amatuer like me would like to know what spot means? Spotting to hedge the deltas I sort of understand...

Awwww guys! Leave it alone. I'm an amateur and I understand Howard is an amateur too. As far as selling stuff, the internet is FULL of people selling shoddy stuff on credit spreads, or OEX trading systems. Some of them have been around 40 years that I remember. Their methods no better...

Whoops! Just came back on here and it seems things getting testy. Now I always knew Howard was going to turn commercial from the beginning. I would not necessarily trade his system. Albeit, he has it working for him. There is a gut feeling something is missing with it. But until we get...

Started looking for Trading Journal, as no address here. I seem to have gone out of credit spreads totally, since end of November. Trading straight options I am up 87% since end of November, or 1st of December. I´m trading one signal basically. I have two patterns I trade, but one...