"I never said half the things I said". -- Yogi Berra
Can't Get Back On The Horse
- Thread starter Arnie Guitar
- Start date
"I never said half the things I said". -- Yogi Berra
A positional trader with a longer term outlook (days for a swing trader or perhaps a month for an option writer) doesn't need a lot of bells and whistles. But a decisive day short term trader with a system and more visual requirements needs every tool available to reduce the time it takes to take or discard a set up.
Tools like multiple monitors to reduce icon clicking, customized chart templates, hotkeys to place orders, macros to sort Excel linked number crunches, etc., won't make you penny just by having them. But they'll save you time and get you there faster. The question is whether it's to profits or to the poor house.
Quote from spindr0:
A positional trader with a longer term outlook (days for a swing trader or perhaps a month for an option writer) doesn't need a lot of bells and whistles. But a decisive day short term trader with a system and more visual requirements needs every tool available to reduce the time it takes to take or discard a set up.
Tools like multiple monitors to reduce icon clicking, customized chart templates, hotkeys to place orders, macros to sort Excel linked number crunches, etc., won't make you penny just by having them. But they'll save you time and get you there faster. The question is whether it's to profits or to the poor house.
Good Point!
Hey Spin, regarding setups, have you had any experience with IQ Feed as a data provider? The reason I ask is I've been using TD Ameritrade, and their data feed (options) is so laggy I seem to always miss a lot of opportunities. The reviews online are very inconsistent, so I don't know were to turn to.....
Back to the original poster -> There is certinally less premium in the market today than there was even just a few years back. With the final move of nearly every option making market going off the floor premiums are very much reduced and so I there there is a sincere argument for going long gamma and finding an edge elseware.
Otherwise, condiser what you're competing against. A book maker can work neg. gamma just the same, along with a pence for making the market, and possibly some payment for orderflow. In addition it'll be easier for them to dynamically hedge with a diverse inventory and liquid fast computers to balance risk centers.
Granted, iVol has been coming in since the 08 crash but I think that if one is thinking of trading with a retirement mindset, I would find a way to work long gamma or basically flat gamma plays. If you have enough margin you might want to consider selling calendar time spreads if the front month vol gets too depressed or reletativly misplaced.
Otherwise, condiser what you're competing against. A book maker can work neg. gamma just the same, along with a pence for making the market, and possibly some payment for orderflow. In addition it'll be easier for them to dynamically hedge with a diverse inventory and liquid fast computers to balance risk centers.
Granted, iVol has been coming in since the 08 crash but I think that if one is thinking of trading with a retirement mindset, I would find a way to work long gamma or basically flat gamma plays. If you have enough margin you might want to consider selling calendar time spreads if the front month vol gets too depressed or reletativly misplaced.
LOL
Wow I have not logged on to ET in a while I am thrilled to see not much has changed.
Guys who retired at very young ages and need to post that many times. Guys who need that fraction of a second as a retail trader because they can beat the MM's (even though the MM's are now computers).
Funny how they always beat the markets and they always end up here and some how some way there is a Ferrari mentioned too.
I'll repost my all time favorite ET question from something like more then a decade ago.
How is it that more Ferrari's are owned by people on ET (or insert the board of your choice) then Ferrari's ever produced?
Funny as there are scenes from the floor of the NYMEX on the TV in the background one of the last open outcry places left.
Guys who retired at very young ages and need to post that many times. Guys who need that fraction of a second as a retail trader because they can beat the MM's (even though the MM's are now computers).
Funny how they always beat the markets and they always end up here and some how some way there is a Ferrari mentioned too.
I'll repost my all time favorite ET question from something like more then a decade ago.
How is it that more Ferrari's are owned by people on ET (or insert the board of your choice) then Ferrari's ever produced?
Funny as there are scenes from the floor of the NYMEX on the TV in the background one of the last open outcry places left.
Ferrari's?
pffft,
pffft,