For those of you that trade options

Quote from daddy'sboy:

Not very nice. So you think my example is not a good one to illustrate the point of understanding greeks? Unfortunately now you come across as an arrogant smart ass prick.
daddy's boy
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I responding to a post in which you referenced mine to talk down to the thread participants. It's akin to putting words in my mouth[post].

Next time, quote someone else.

And yeah, I am all those things. I can think of at least a dozen women who would agree 100%.
 
Quote from riskarb:

My point was that over-reliance on model output is building a house on mud. Anyone who's clueless enough to ask why the stock is up and the call is down should consider euthanasia.
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Listen chief. It's obvious this board is full of beginners (I used Arnie as an extreme example) who are totally clueless and think they can get away trading options without much understanding. And it's also obvious that a number of posters (who should know better) on this site agree with that point of view. You know very well that options are very complex and having some understanding of managing risk is important, so don't shit on my posts when I'm simply stating the obvious and using simple examples to get through to these characters. I'm not even talking about models here.
Daddy's boy
 
Quote from riskarb:

I responding to a post in which you referenced mine to talk down to the thread participants. It's akin to putting words in my mouth[post].

Next time, quote someone else.

And yeah, I am all those things. I can think of at least a dozen women who would agree 100%.
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Don't worry, I will. And I'm not "talking down" to anyone, simply offering an example to support my point of view. Not everyone here has an understanding of options the way you do. It might pay for you to consider some of the others who come here to learn - not all are rocket scientists. Oh yeah, thanks for your helpful commentary.
Daddy's boy
 
Quote from dickhead:

I just thought of a better example. A trader (let's say his name is Arnie) goes long a straight call. The underlying moves up and at same time iv collapses and time decays. Trader thus loses money and wonders why. Answer: lack of understanding of the greeks.
Dickhead
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Quote from dickhead:

Hey riskarb - chill. Post wasn't meant to get at you, just pointing out to other posters the idiocy of their statements and using your post as an example of someone using greeks. As you know (or maybe not) I'm big fan of your posts and obviously you understand your greeks back to front.
Best
Dickhead
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Quote from dickhead:

Not very nice. So you think my example is not a good one to illustrate the point of understanding greeks? Unfortunately now you come across as an arrogant smart ass prick.
Dickhead
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Quote from dickhead:

Listen chief. It's obvious this board is full of beginners (I used Arnie as an extreme example) who are totally clueless and think they can get away trading options without much understanding. And it's also obvious that a number of posters (who should know better) on this site agree with that point of view. You know very well that options are very complex and having some understanding of managing risk is important, so don't shit on my posts when I'm simply stating the obvious and using simple examples to get through to these characters. I'm not even talking about models here.
Dickhead
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Quote from dickhead:

Don't worry, I will. And I'm not "talking down" to anyone, simply offering an example to support my point of view. Not everyone here has an understanding of options the way you do. It might pay for you to consider some of the others who come here to learn - not all are rocket scientists. Oh yeah, thanks for your helpful commentary.
Dickhead
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I guess all I can really offer is a hardy, heartfelt,

fuck you, asshole.
 
Quote from daddy'sboy:

Funny thread this one. Surely you people aren't suggesting trading without knowledge of the greeks.
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I don't think anyone did other than optionsfreak, who I'm sure has now left the building. Perhaps the extreme sarcasm embedded in my "no greeks" cheerleading post was once again too subtle to be noticed at first glance? :D

BTW, I'd have to disagree that volatility is a greek but I know what you mean.

MoMoney
 
Quote from optionsfreak:

1. If you never traded options, do you still think you'd be where you are today (just as profitable / unprofitable)?

No, I only trade options, I rarely trade stocks. Reason being, i can make money fast with calls and puts...puts very fast.

2. What is your primary option strategy?...to speculate or to hedge?

speculate...and my strategy..well...thats ultra top secret. a bit to get you started though..most people read all the time that "the trend is your friend" and "dont trade against the trend", but they always seem to forget it. well...that advice pretty much makes up for 50% of every winning system and portfolio!

3. Have you lost more money learning how to trade options rather than stocks..or any other investment vehicle?

I lost quite a bit of money in options and stocks about equally when i was a newbie...once i got my system tweaked and risk management down pact....my losses are extremely minimal, around 12% at most.

4. Whats one important lesson you learned from trading options that you wish someone told you BEFORE you started?

Trading is 99% psychology, 1 % methodology. if you can understand the unerlying concepts behind this, you can rarely lose. always remember...there is no 100% perfect trading system, so stop looking for it...just try to get as close as you can to 100%. personally, im at about 90%. everybody loses, even the best traders who ever lived...they were just able to minimize thier losses which is key. everyones perception of a holy grail is different, your personal holy grail should consist of a system that works for you on a personal level and has small losses...and one that doesnt revolve around someone elses advice which includes the media and advisement services.
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Out of interest, is your system mechanical or discretionary?
 
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