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5 delta would normally suggest about a 5% probability of expiring beyond the strike. The “probability of touch” is roughly twice delta, so the probability of touching the strike of a 5 delta OTM option will be about 10%.

So in 2016, the questions for someone starting in forex are: 1. What's the minimum capital you should start with that will not negatively affect your rate of return as a percentage? In some markets, commissions or minimum contract sizes would make small accounts prohibitively difficult to show...

Thanks. Those look good. Do you know of places to get data other than end of day data? Such as fundamental data, earnings per share, market cap, float, and so on?

I know I can get a lot of data from free sites (Yahoo/Google/etc), but are they going to mind if I download data from their sites every day for every stock? In other words, what's the best way to get data if I wanted to build my own screener or database? I am not opposed to paying for good data...

Do I need to move to Tuscon to learn from your team, or can I learn from where I am?

You will have to verify this is legal where you live, but here is the only plan I can think of that fits your criteria: Go to Vegas, one bet at the roulette table Rob a bank This way you have about a 50% chance of making it happen. But again, make sure robbing a bank is legal where you live.

Hello Jack, I certainly have limited experience, so forgive my ignorance, but how can this be? Say you are about to enter into a trade, long a stock. Right before you buy, a big player dumps a large number of shares, the stock price will tank. If the big player would have been in a car wreck...

So it's more like a professional sports coach who must constantly keep his finger on the pulse of his sport and make adjustments to stay competitive?

For those of you who derive most of your income from trading, do you worry that something could change that would force you to change careers? It could be anything, from new legislation that makes frequent trading prohibitively costly, or the big players automated trading becomes so good that...

My first thought is that having a spouse with a decent income would be a significant help, providing a safety net. But I also know from many people who start their own businesses, they say if you have a family it makes it significantly more difficult. What do you think?

Interesting. Would you say then, that while chess is about gaining competence over a massive knowledge base, trading is about gaining competence over a smaller pool of knowledge, and then mastering our irrational selves to prevent us from screwing it up?

I am interested in many things, among them are trading and chess. In chess, typically the better players have focused primarily on chess for many years. It is clear that they have spent many hours almost every day thinking deeply about chess. In the absence of competing hobbies, this would...

I don't understand the "in a few years" part. Will trading not require a full time effort in a few years?

No. I wish it were legal in the U.S. so I could play again.

I private messaged him and he sent me his preview. The full version is $30, a great value.

Academics. Those who can't. TA is a tool to be used in an art, by an artist. If you try to use a math formula to test a paint brush, it's easy to conclude that paint brushes don't work, despite overwhelming empirical evidence to the contrary. You seem to have already made up your mind though...

It's a good point. However I'm the kind of person that I'm going to spend my spare time learning about something most people consider very nerdy. So I'll be costing myself time reading "Large Scale C++ Software Design" (for fun, not work). That's how I started playing online poker. I realized I...

What's the smallest bankroll you would start trading with? Is a few thousand dollars enough, or will the fees be too high? Are some markets and trading strategies more workable than others with a smaller bankroll?

If you put $10k into one stock, and put $10k into one option, which one does a $5 move affect more? They are not the same. One is much higher leveraged than the other, and one of those trades, if made consistently, will leave you broke. This may be common sense, but it might not be to a...

All I am saying is options are much higher leveraged than stocks. If you buy a $50 stock and it goes down to $45, life goes on. If you buy an option, that same $5 move can wipe you out. You seem to be only seeing the other side. Yes that $5 move can make you a big profit, but it can also wipe...