Thank you. No need to, I am just a nobody retail minding my own business and hoping to pick up some knowledge here and there to improve my trading skills.
How do successful option traders do it?
- Thread starter Johnmaine
- Start date
Go to Journals. Then, go to My trades. All his trades are posted there. He has multiple trades going on all at once. If you have questions, ask him.
If he is the same prae whose first name starts with HA then he is the one I met on ET, then at security desk on the NYBOT floor where I took him on a 30-45 min tour. He seems like a nice guy --one that you would know would go places one day in the near future. That being said dest has a point. If any person says I bought SPY Jan 200c today and there is 0 volume on the tape, then it is a bogus trade...no excuses, no other-wordly explanation.Maybe prae mistyped the strike or expiration month. u never know. I guess. 
Your reply triggered me to do a search.
I went over to Feedback and read the posts on Xela and Handle123. I feel bad for them actually, especially Handle123. He told me I should "dance options around" my long term holdings. It is probably obvious but to a retail like me it clarified in my own mind how I should use options after I figured out the relationships.
The teacher may be fake but he can still "teach" the student to think for himself. For that I am grateful.
And my hat off to you sir.
Instead of reinventing the wheel, Iron Condors do it. Max out your account and go 3 months out. If at the end the stock price is between the wings, you keep all the premiums, thus you made 100% ROI. If you divide that by 3 months, the monthly return is 33%.
Now if you are interested in more flashy approach, on Reddit there are a couple of option traders who ran their small account up big. I posted the link not so long ago.
Here is one:
This guy is playing earnings:
I think a few of you are getting confused. Praetorian is not the guy that posted the (phantom) options journal. Praetorian made a comment about making 30% a month, some other guy posted the phantom journal.
About what Praetorian did...maybe it was a month or two...maybe a few more. He would probably tell you today that maybe it was luck or he saw a setup he really liked and it paid off. If that doable all the time - or every month forever? Not for him and what he was doing and maybe not at all.
Thanks for your comments. I don't think the two links you posted work. Can you re-post?
I wonder how many consistently successful traders take this approach.