How do successful option traders do it?

jl1575 said:
Did you read through his journal? At least read from page 45 to page 55, from #447 ($18K to start with) to #549 ($58.4K), that is $40K within a month. Actually he started with only 2K to reach about $160K in about 9 month. Incredible, ah?
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I have been watching this guy and most of his plays are earnings related. He does not try to hide anything and has even shared his reason for getting into trades. Easy to bash anyone. I think what he has done can be replicated by another trader who understands how he gets in and out of trades. Not all trades work out and he has losses too! Huge gains are possible using options. I am in the camp that believes this guy is for "real".
 
smallfil said:
I have been watching this guy and most of his plays are earnings related. He does not try to hide anything and has even shared his reason for getting into trades. Easy to bash anyone. I think what he has done can be replicated by another trader who understands how he gets in and out of trades. Not all trades work out and he has losses too! Huge gains are possible using options. I am in the camp that believes this guy is for "real".
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Given that you have been watching this guy, can you summarize his strategy?
 
destriero said:
No. I gave up after attempting to verify three trades.

The trades don't match the tape. It's another sieve. He'll never post an actual fill. I found three instances in the journal in which there was zero volume in the option trades that he posted. All three benefited in price in the the NBBO improved during the delay between trade/post. Those were just three trades. No volume and a time machine. I don't care if he's paper-trading, but the prices are BS.

I'm not a hater. I'd like to see someone post actuals to a journal, but the positions are fantasy. It's amazing how stuff not hitting the tape miraculously always goes up in price during his lag. He seems to have a 16 minute latency which assumes he's posting from our Sun.

Enjoy it.
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He trades around earnings and events and I am very impressed with his read of the outcomes as I traded many of the same underlying. I also made directional bets often the same direction as he. But you are right I found it difficult to duplicate his successes which I attribute to different methodology, my timing and judgements.

However why should I doubt him? Why fake results in an anonymous forum? Makes no sense to me.
 
ironchef said:
He trades around earnings and events and I am very impressed with his read of the outcomes as I traded many of the same underlying. I also made directional bets often the same direction as he. But you are right I found it difficult to duplicate his successes which I attribute to different methodology, my timing and judgements.

However why should I doubt him? Why fake results in an anonymous forum? Makes no sense to me.
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Why Xela? Why does anyone do what they do? We don't know what we don't know... if you like tautologies.

$1,000 stands All he's got to do is show the opening and closing runs.
 
Johnmaine said:
Given that you have been watching this guy, can you summarize his strategy?
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Read his thread "my trades". As I observed, he buys stocks ahead of earnings. Some work out and others do not! Obviously, I do not know his rules for getting in or out of his trades. You have to figure it out yourself.
 
smallfil said:
Read his thread "my trades". As I observed, he buys stocks ahead of earnings. Some work out and others do not! Obviously, I do not know his rules for getting in or out of his trades. You have to figure it out yourself.
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Thanks - do you have a link to that thread of his "my trades"?
 
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