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what's "apd"?

Yes, we are all waiting for you to start taking Warren Buffet out to dinner or to buy a nice tropical island... back to the topic - option_vixen, you should try to come up with a few more strategies. In general, you want to have a few alpha-generating strategies that would be mostly...

Why? If I would have told you "it costs me 20k a year to lease, insure and garage my Aston-Martin" you would say "this guys is cool", but for some reason spending the same on two dogs is "ridiculous" in your eyes. Even though both have the same practical value in Manhattan and (if I was single)...

You should have a plan for each trade type - when to put it on, in what sort of size and also when to take it off. If you approach your book in a systematic manner and adhere to the plan, you don't have to worry about spending the profits. PS. If you are like my junior trader, you might...

Well, depends what risks you are taking. If most of your cares are focused on delta, any other risks gonna appear small. If you are trying to trade vol convexity against gamma (a position of 3 options) you will find that all 'em pesky secondary risks do matter. Best way is to double-check...

The whole idea of having pets is to have them change my life. By now I can't imagine myself without a dog. So I'd first give up other costly habits - charitable donations would go first, eating out would go second, wine would go third. Internet would go before the dogs too. But I don't have...

maybe, just maybe, you are risking too much on each trade?

Let me ask you a question fist - are you trying to use this for P&L explanation? In this case, if you are doing the above, you will show a lot of unexplained p&l from a variety of N-th order risks. If you are trying to use this metric as a simple back-testing gimmick, it's quite ok

$10 is very cheap. I pay $25/hour to my dog walker.

This study proves (yet another time) that some people should not be allowed into a library unattended. First of all, taking the whole hedge fund universe is stupid. Even my pet raccoon could register his own LLC and call it hedge fund. They should have thresholded it on both AUM and years in...

Oh, yes, I am sure if they would have followed your systems they would be living in the houses of pure gold and riding unicorns to work... If your system is such a bread-winner, why are you selling it at all?

"Human beings are a disease, a cancer of this planet."(c)

actually, it's $12.50 I think...

While getting into the top 0.1% by income is mostly luck (e.g. I can name a single "lucky draw" that propelled me into my current line of employment), the top 1% got there through hard work, dedication and drive. So I am pretty sure I would still be making a good-enough living even if I was not...

A family living on $350/K per year in Manhattan is not rich at all, it's solid middle class life style. Lets take myself as an example - I am making a base salary of $250k/a plus my wife is bringing home another 150k as a surgical fellow. Sounds like a lot, I am sure, but once you add the costs...

First of all, it's not a lot, at least in absolute dollars. Second of all, a little humility in this business goes a long way. In fact, I'd say that while ego is good in getting yourself hired in a trading role, it's bad for making money.

I have not seen the paper but am sure that they suggest buying a strip of vix futures and buying some options to offset the convexity adjustment. Me think it's stupid.

Yeah, except it's (a) does not work even for SPX variance and (b) is not possible at all with single stocks.

Do they now?

How is it different from most other occupations? Do you think a plumber that comes over to fix a leaking sink has your benefit in mind or he's motivated by the fact that he's gonna charge you for his time and charge X-times margin for every part that he'd bring over?