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You are drawing a distinction without a difference. Any differences between asset ownership and derivative ownership are priced into the trade -- the mechanics (whether individual trades or tournament repeats) are the same. Further, asset markets and derivative markets both exhibit zero-sum...

That's it. That's the whole story. All else is fiction, made-up, fairy tale. People on ET routinely drop "zero-sum game" thinking it means something which it does not. There is also a negative-sum game (like, cutting up the Mona Lisa for prizes) and a positive-sum game (whereby, synergies mean...

You need to spend lots of time (like, 'the next six months') doing nothing but learning about TWS. TWS as it arrives on your screen is a glorified spreadsheet, and not very friendly. But there are 3-4-more ways to do ANYTHING on TWS, and the way that will work best for you will depend upon your...

Nobody has used The Magic Word yet. The magic word is Expectancy. The numbers above hold for $5 spreads within the last week of expiration or for half of $10 spreads, bought back after 5 trading days, or for..... ad nauseum. It gets even worse if you consider that you might likely roll/exit...

As you get more time in the market, you will have more data -- more *different* markets -- by which to judge and re-evaluate your signals. That confidence will go a long way towards addressing your concerns. FWIW, in looking at my own results, I came up with a mantra of "Enter on a shout, exit...

No. You would be rolling a die and winning with any face except a 6. On 6, you get wiped out. Wiped out.

There is quite the buzz these days around terms like 'artificial intelligence' and 'machine learning' and 'robotic process automation' and even just to 'algorithmic trading'. Don't get caught in the hype. Rules-based trading -- what you're after -- is no more than stating ahead-of-time what...

:wtf: :D ((I'll admit -- back a million years ago, Wiley was one of my favorite publishers. But about 10 years ago, I started looking at some of their titles/authors, and thinking, "Huh?? *That* one slipped through the cracks..." Your *very* funny comment..... well, it kinda cements what...

No one wants to navigate your fog, to facilitate your doom. Clue.

Count me as listening closely for a reply to sle's question. I know only the nice names and the quality presentation (cited above). I have not calculated anything here in the least iota.

SPX is an index -- volume is not going to do a lot for you. If you want ES volume, and wish to ask volume questions of it, your best place is to decide on a definition of "up volume" and "down volume" -- there are volume TA tools that use those terms as inputs, as well as price+volume tools...

All hail the CME for telling us what we didn't know: in periods of high overnight threat of movement, individual strikes of the SPX (which is not freely traded overnight) are cheaper than their more valuable/flexible cousin, the ES (which are traded overnight), by ~8%. :wtf: Jeepers! I had no...

Very nice package of work.

Roll [my] own. Insightful display; only what I need; stable, small; free.

Well, it's a fine line sometimes, between the ability to ask a question, and the *reliance* upon having someone else muscle things out. I always erred on not asking, and in retrospect, BOY would I change that. Sometimes, *just* a little push, will get you over the hump and have big...

Or, you could do your own assignments, and earn the classroom credit yourself. o_O

What I noticed long ago was that if the market didn't respond as I thought 'it should' to given upbeat or downbeat news, that 'we need to drop some' weight remained around -- maybe 4-5 days, to a decreasing degree. So, if a Reversion-to-Mean framework uses a pendulum as a handy mental rubric...

Capital mobility -- seeking smooth trade-offs between risk & reward, or arbitraging the difference (like us!) til the smoothness is there.

Someone who expresses this much discretion and forethought and lack-of-hubris, has (IMHO) a fine future ahead of them in trading/investing. We have so many arm-chair generals throughout our civilian military command, but it seems the ones who are least eager to go to war -- to put fighting...