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Ha! The famous last words of busted traders now selling life insurance or cemetery plots. It has been my experience over the years that when authors, lecturers and amateur traders start promoting their put selling strategies, it is a sure sign that the bull market is officially over.

That is an easy case to make when, over the past 3 years, you've had the wind at your back. When the wind gets in your face, you'll find the sailing to be a lot rougher.

Think "Selling Puts." Nine clients show up for trial and you make your percentage. The 10th skips off to the Bahamas and sticks you with the full bail amount. Pick up your pennies in front of the steamroller. Same game.

Always refreshing to see a nice bit of sarcasm here on ET

While there is money to be made trading VIX derivatives intraday, I suggest that (1) Scalping is not likely to provide consistent profits given how quickly and irrationally these instruments move in very short time frames, and (2) These instruments are definitely not appropriate for new traders.

Sorry, but I'm reminded here of the old story that if you're at a poker table and you don't know who the sucker is...then it is likely to be you.

Keep it simple. Measure the slope of a simple MA, and that's your momentum.

Long options don't play well with broad market indexes, except in the rare event that you get an explosive market move near term. But that isn't the game you're playing. If you have confidence in your system, you're better off with leveraged ETFs. But you also need to prepare for a move...

Plan your trade, then trade your plan. If, over the past 15 years, I had let every trade run to the planned exit, my accounts would be far, far greater than they are now. One of the worst habits you can get into is nailing an entry based on a good setup, then trying to manage an exit based on...

Yes, you are correct to be concerned about going long calls with the VIX at such a high level. Because if your bet on a rising market pays off, that will at the same time trash volatility. Thus, you can win the battle but lose the war. And if, as you say, you aren't familiar with selling...

My first Motorola brick was $450./month. My first car phone was $600./month in 1986, and well worth the cost.

So the 'robot' is up all of 11.8 % over the past year ? What a joke. This is the best that IBM's Watson can do running 24/7 ? This year, try a Commodore 64.

Either you're very young, or you have a very short memory. In either case, you're failing to take into account the mess that Obama walked into.

It's always bothersome when someone like you posts a request for advice, but doesn't bother to outline your basic strategy or trading environment. If you can generally define what universe you're in, you'll be more likely to receive some useful responses. At the very least define what you're...

Correct. That's what works for me. The decision as to whether to take a position at all, or whether long or short, is not mine to make. It is based on historical probabilities and current levels of volatility.

Not trailing, but if I reach a certain % of profit on a trade, I will often raise a stop to even. Beyond that, I don't let myself touch it.

Volatility. I don't want to make a bet on something that isn't likely to move. Better to be in cash.

birdman: I don't set profit targets, only stops. My exits are all end-of-day.

If you will bother to pull up a chart when TWS is active, and you have a stop or limit in place, you will see it represented by a horizontal price line on the chart. Now, really, how difficult is it to reach over and drag the line, which will change your stop or limit level? I will also add...

The purpose of a charitable trust is to encourage contributions. Its a great program and has really benefited a lot of worthy organizations. But it isn't designed to serve as a tax haven or a method of transferring remainder funds to family members at the time of death.