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This discussion jarred some thoughts loose in my head about being "rich". I've been very reticent with my friends and relatives about my interest in trading and my ambition to support myself trading. Why? Because the average Joe equates this with being "rich" which isn't really what I'm...

That's a fact. One thing I learned from the day job is that if you don't have a process in place, you're prone to shipping a product with bugs and defects. Trading for a living is no different. All work is a process. If your process is well-defined and repeatable, then you'll ship a...

Hmmm. None of those symbols work for me in IB. VX or VBI.

Bah. Gas is dirt cheap at $3/gallon. Every day I see people driving by themselves in SUVs up and down I-270, me included. At kids' soccer practices I see parents sitting in the car with the engine going for 2 hours to either run the heater or A/C. Gas is cheap.

Opening range breakouts on index futures, also known as ORBs. They're absurdly easy to backtest and you can come up with a setup with positive expectency.

Holy cow. IB sure has me spoiled.

Gotta love that risk free $$$ on the S&P 500!

I agree, if you're pretty sure about a big move. What I described is more conservative. YHOO seems to be one of these stocks that have nice big moves nearly every earnings announcement.

Buying further-out options makes more sense due to theta (time value decay). For near-month options, theta is higest. For a straddle you're buying far enough in advance of an anticipated big move so that IV isn't too high. Yet you don't want theta to eat you up while waiting for the "big...

Well, the orthodox view is that you buy the straddle during low volatility times when the options are relatively cheap. Why? Because if you buy when the IV is high and the news breaks, you lose money because the IV collapses on both the calls and puts you bought. This can overwhelm the profit...

The only thing I can think of that rhymes with "orang" is "orangutan".

Credit spreads are neat-o aren't they? Do you ever use debit spreads? I ask because it seems like QQQQ options have been a little too cheap lately to be worth selling.

Nah. I saw that yesterday. I figured since she has access to all sorts of guys with money/influence/power that she got some inside tips. She has a sort of *ahem* "pipeline" to good information, so to speak. :cool:

Yep, IB's real time scanner is fantastic.

Boy, yew look just lahk a hawg.

I could probably get away with hiding a salami down my pants, mainly because it wouldn't alter my ordinary appearance. :cool:

Man arrested with DVD player in pants It was bad enough he had a DVD player in his pants. But a bike with 2 flat tires?

Damn, some other old fart beat me to it. :cool:

Shoulda hung in there with GCOM, stoned. I've been in this thing for a month now and it looks like patience once again pays off.

Still long USD/NOK?