Are options a waste of time and money? (pun intended)

taowave · Jul 23, 2023

My friend,trust me that some of what you say is somewhat accurate,but 90 percent is rubbish..

Put the time in,commit to your craft and backtest away...

Your path is not an easy one as it appears you are starting out with your cash, as opposed to OPM..

Take a trial to Orats,read read read,and change your atttude

wxytrader said:
I question how successful they can be as retail traders. Hedge funds can manipulate the market in the direction that is favorable to them by sheer volume not to mention all the tricks market makers can play. The only way to beat the market is to not be forced out of your position. Hedge funds basically exist by retail losing money to them, not them making money by trading prowess. You have to know who you are trading against. Funds aren't going to cannibalize each other. Look how they cried foul when Wall street bets turned the tables on them.

Overnight · Jul 23, 2023

M.W. said:
Bill Maher would say "you whiny little bitch"...

Speaking of which, I wish that damned writer's strike would end already. Maher is a funny guy.

Overnight · Jul 23, 2023

wxytrader said:
Obviously I'm trading indexes. Anything with daily expiries.

OK, so now we know you're effectively playing options like binaries. You lambast people who don't use options "the way they are intended", by incorporating them with the underlying.

So what does trading a 0DTE have fuck-all to do with the underlying?

Trading daily expiries is not utilizing options "the way they are intended".

M.W. · Jul 23, 2023

Is that why his show is on break? Had no idea. Thought he moved to the internet for good.

Overnight said:
Speaking of which, I wish that damned writer's strike would end already. Maher is a funny guy.

Overnight · Jul 23, 2023

M.W. said:
Is that why his show is on break? Had no idea. Thought he moved to the internet for good.

Nope, all late-night comedy has suffered from the strike. He's still on HBO.

wxytrader · Jul 23, 2023

taowave said:
My friend,trust me that some of what you say is somewhat accurate,but 90 percent is rubbish..

Put the time in,commit to your craft and backtest away...

Your path is not an easy one as it appears you are starting out with your cash, as opposed to OPM..

Take a trial to Orats,read read read,and change your atttude

EW already has backtesting built in so no point.

wxytrader · Jul 23, 2023

Overnight said:
Nope, all late-night comedy has suffered from the strike. He's still on HBO.

Uh late night comedy has suffered exactly ZERO for the strike...didn't even know there was a strike or that he was funny. Must be an American thing.

rb7 · Jul 23, 2023

The OP wants someone to tell him how to make money trading options.
Since it ain't gonna happens, he'll say that no one can, hence it's impossible.

wxytrader · Jul 23, 2023

Overnight said:
OK, so now we know you're effectively playing options like binaries. You lambast people who don't use options "the way they are intended", by incorporating them with the underlying.

So what does trading a 0DTE have fuck-all to do with the underlying?

Trading daily expiries is not utilizing options "the way they are intended".

If you read my first post I didn't take any position...just analyzed that with the numbers everything other than 0-3 DTE's (with RISK MANAGEMENT) is a fools errand. I have then gone on to back up my claim and am still waiting to be proven wrong by an example. I am a big proponent of using options in tandem with the underlying as they were intended.

wxytrader · Jul 23, 2023

rb7 said:
The OP wants someone to tell him how to make money trading options.
Since it ain't gonna happens, he'll say that no one can, hence it's impossible.

No. I want someone to give me an example where longer term options strategies can have a better risk reward than 0-3 DTEs.