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major disaster..just got off with tech support...seems like TOS went down..no fills for 40 minutes,couldnt enter orders,couldnt cancel..this was always my biggest fear with TOS

Here's my 2.5 cents on the second order Greeks.. If you have a very good understanding of the first order greeks,you should have an intuitive grasp on the second order..No need to have a complete breakdown of the Greek alphabet.. I love trading TSLA and am typically short Vega,most of the time...

No love for Vanna?? As long as I dont take a delta hit,I don't really get too bothered..Vol gets pumped on me,I typically add or ride it out..

Ild fully agree with you if 50 percent of the 99 percent had a clue to the relationships of 1 st order Greeks...

Cmon..... You seriously believe that your pitch gets you anything more than coffee and a donut at a hedge fund capital raise???

It's you:) The poster stated the obvious,and IMHO misinterpreted where he was going with it.. "The information that THIS trade is winning (or losing for that matter) has ZERO predictive value."

Max's deadly sins are obvious.He knows all too well where he fucked up.Its not timing,it's not the Fed. Trading 101... What I don't understand is if you want to take a position in a 100 vol market,why not take massive Limited loss bets in the options market and take what the market gives you??

Probably the best advice I've gotten on this forum:)

I just posted in a another thread how Tudor Jones trades tops and bottoms... Its naively assumed that he goes all in from the get go,but he has stated that after the 10th attempt,he finally gets it right.. Like everything else in life,it takes a special skill set,and PTJ is sincerely an...

Max,you clearly learned a shitload,and you didnt need 6 pages of our wisdom to prove it..Your simple chart shows it.... Paul Tudor Jones wrote that many think he simply nails the top or bottom on the first shot,but the truth is that after the 10th try(stopped out 9 times) he finally gets it...

This may be my favorite line ever.....

Trdes,of course he is saying (or should be saying) adding to winners has no predictive value for himself... Because I can not make something work,doesnt mean another trader can not. More to the point,I would also agree that adding adding to winners(blindly) has no predictive value,and if it...

Dumbell distribution = fat tails When I have backtested systems amd removed any type of stop,I have found that some very mediocre systems that trade high momo stocks would fare very well using options.

In systems with a dumbell distribution,I have found the same thing you do.The trick is to find a syatem where you are either dead dead wrong or really right:) Whats interesting is when I first read your criteria of not paying more than 10% of spot price over intrinsic for a 90%/spot 2 month...

Chef,if you are a trend trader and bat .500 with decent risk management,you will be a winner

If I may,what was the price of the underlying and the bid ask spread?

This is a really good post.. I get the appeal of the built in stop of options,but if you cant trade the stock,you cant trade the option. For a newbie,the hidden costs of long options is likely too much to overcome..

I would think long and hard about newbies placing limit orders vs market..especially if they are short gamma,which the OP wasn't.. For a newbie,a limit order MAY save a couple of pennies..But when a newbie is in a bad trade ,they are a like a deer caught in the headlights.Better to smack the...

Stock got hammered an he got creamed on his option.. 10 dollars says he was long a call:)

If I interpreted what he supposedly did,it wasn't the Greeks that got him.It was the bid offer spread on the option on a fast moving stock. Most newbies are clueless to the impact of transactions costs on options..Im guessing he got nailed on bid offer spread as badly as his delta hit.