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You were upgrading your options privileges, that means you already had an (apparently good) trading history with them.

The up trendline is apparently holding, so I guess you are betting on a reversal of some kind, at least in the short term.

Seems like the Yen is breaking down on the 15 min, let's see...

Bought Nzd/JPY at 88.15, 35 pip stop. Boskop, sure you don't want to try that trade again? :p

Yeah, sure :D And speaking of Ameritrade and options trading, take a look at this post... https://answers.yahoo.com/question/index?qid=20110819153346AA3pFx1 From the webpage: " The naked stuff you have to have the net worth and the experience to prove that you know what you are doing." "The...

Well good for you, but how many applications were rejected during that same time, care to tell us about it?

Unfortunately it's not that easy. You cannot simply sign a document that says you understand the risk of trading options and start selling naked calls (or other similar unlimited-risk positions) by tomorrow morning, not going to happen.

Qualify for what, exactly?:confused: After review, stock and option brokers will usually give you clearance for one of the following trading levels, 6 being the highest level: 1: Trading stocks 2: Covered call writing 3: Buying calls and puts 4: Debit spreads 5: Credit spreads 6: Naked equity...

From the OptionsXpress website (a leader in options trading): Question: "What level of options trading will a customer be approved for?" Answer: "Clients will be authorized to trade options after being reviewed based on experience and financial background, among other criteria. "

Yes, but they need to see at least 5,000 posts. :D

Thanks, that's good to know :p Yep, that Wheeler guy just need to say a word or two to move the new-zealand dollar by a 100 pip or more in 60 seconds! :D

Experience AND capital. If you still don't believe that then just call OptionsXpress and tell them you are just starting out and want to sell naked calls for example, they will immediately approve your application without any hesitation ("Sure, of course, just wire us some money and you can...

Did you know that most option brokers will not even allow you to sell options if you have no serious previous experience in that field? Try to open an account to sell options and see what happens...

Of course, but the majority of option sellers are very sophisticated traders and they are fully aware of the risk they are taking. Like I said in the previous post, they usually hedge their bets to protect themselves from what I like to call "tsunami events".

Yes you are right. But selling inflated options (while hedging the position to avoid nasty surprises) will definitively put the odds in favor of the option writers, in the long run.

The pros?? :confused: You mean the suckers...:cool:

High volatility inflates the option premium (the higher the percentage of Implied Volatility, the higher the option price), which is usually a good thing for option writers (sellers).

Saying that two currency pairs are not negatively correlated does not necessarily mean that they are positively correlated. For example AUD/JPY and CAD/JPY (the two pairs I am following) are currently correlated at 48.4% on the small time frames, meaning there is no meaningful positive...

We talked about the importance of correlation yesterday. I bought CAD/JPY a moment ago and I have a pending buy order on the AUD/JPY. Since these two pairs are not negatively correlated, these trades make sense, so everything is fine as far as the correlation factor is concerned. The Forex...

Bought CAD/JPY at 93.75, 25 pip stop.