CL Dec Spreads

[Mandrykk]

Quote from bone:

Quit politely bashing me one post and then trying to hustle me the next. I live in Chicago and can get that action you describe all day long. Not interested. Been there, done that. DE Trading and Ronin. And for stupid size.

I want to carry multiple positions longer term for points and not doink tics all day long for size and be told to get flat before close.

The shorter timeframe edges always disappear on you - sometimes much sooner than later.

Oh, and some of my clients are very good traders ( before they hire me ) and I do manage to pick up some very good ideas from them. I like the consulting aspect. There are some very good traders here on ET who do not bother posting. And who can blame them.

It was just an olive branch. Don't be so sensitive. I'm sure you're a great trader.

I know some of your clients are very good traders, I started my career with one of them. We used to spread LME metals. You might know who I'm talking about now.

I don't know what you mean by shorter term time frames so I can't really comment but I rarely have no positions on after the close.

Who knows if anyone is a good trader or not on ET??? Especially if you don't post? Do you have access to their PNL or Sharpe Ratio? And who cares if they have a big account! The London Whale had a big account, does that make him a good trader?

Until recently I didn't post much on ET and just observed. I probably read half of your 5000 or so posts. Just to get an idea of who you were and what you were doing on here writing so much. I'll give you credit you know your spreads and products, and you sure as hell been at this a lot longer than I have (less than 3 years) but your posts are redundant and all over the place on here. It's like that 3am infomercial. Why? And why give these vague responses or stand behind the fact that your client has a $4mill account? You posted a statement saying that you made over $500k in one account and more in another. Is this true year in and year out? I applaud you for having a great year but it seems to me like you are trying to drum up business on here. Is that the case or do you really make $500k+ a year and just really like to teach?

 

[dunleggin]

Quote from Mandrykk:


Spreads of spreads is the way to go. Don't get too caught up in the curve as a whole because that's not where the money is for individual traders or even prop traders for that matter. Flys, condors, double flys are where you can compete.

That reads somewhat contradictory. Flies and condors are exploiting some aspect of curvature, so how do you analyse that without some sort of view on the level & slope of the curve as a whole?

 

[cdcaveman]

Quote from bone:

Well - pay for TT, a Bloomberg, CQG, seat leases, and a desk fee each month. Then, pay five cents overage on each trade as a house haircut. Then, split your profit 50/50 with the firm. Then, with what's left, get paid on a W-2 so you get taxed at ordinary income rates ( not blended capital gains ).

Realize that TT Pro isn't the answer - markets are getting more efficient and automated. Price out ORC and RTS at $19K per month. Price out the ECN you will need as well.

At some point in time you say: "fuck it, I'll just trade for myself". Swing trade smaller size and stay with a trade much longer. Decide to take on some consulting clients from time-to-time so that you can distract yourself in a constructive way and not do something impulsive and stupid and trade a gajillion contracts a day like you used to. Works for me.

Touche
I could only imagine.. But i don't want to. haha.. i probably will always trade for myself.. So throw us a Bone.. what do you think of a mar15 / june15 / sept15 fly in GE.

 

[bone]

Quote from cdcaveman:

what do you think of a mar15 / june15 / sept15 fly in GE.

I wouldn't buy it, that's for sure. That particular combination doesn't move the earth for me at the moment.

What I find sexy for STIRs on that part of the curve is the GE H5-M5-U5-Z5 Condor.

 

[bone]

All horseplay aside and lighthearted jabs aside, I am so pleased that there are some passionate spread traders like Mandrykk and CDcaveman posting here on ET.

IMHO, for many of the members I see posting here on ET there needs to be a lot more spreading and a lot less of this psychotic manual "point and click" mouse scalping of flat price products going on. I am absolutely certain that spread traders are much more consistent than scalpers from what I have seen here in Chicago through the years. And I do think that small retail type traders with modest accounts should be spread trading. You can easily swing or position trade modest spread positions while holding down a "real" full time job.

 

[cdcaveman]

Quote from bone:

All horseplay aside and lighthearted jabs aside, I am so pleased that there are some passionate spread traders like Mandrykk and CDcaveman posting here on ET.

IMHO, for many of the members I see posting here on ET there needs to be a lot more spreading and a lot less of this psychotic manual "point and click" mouse scalping of flat price products going on. I am absolutely certain that spread traders are much more consistent than scalpers from what I have seen here in Chicago through the years. And I do think that small retail type traders with modest accounts should be spread trading. You can easily swing or position trade modest spread positions while holding down a "real" full time job.

I own an irrigation company....i have a small acount, i don't scalp.. and i do swing.. going into this rally i had alot more bull spreads on then bear spreads..

 

[cdcaveman]

Quote from bone:

I wouldn't buy it, that's for sure. That particular combination doesn't move the earth for me at the moment.

What I find sexy for STIRs on that part of the curve is the GE H5-M5-U5-Z5 Condor.

i'll put that one on my radar... i promised myself i wouldn't step into any new products without watching them for a couple months..