How to trade like a retarded genius - an actual strategy that works

[Overnight]

If I wanted to make a public journal here with market calls left and right, I would -- But I don't.
What's the point of that....

...I truly feel I have a proprietary process. So naturally, I can't reveal the thorough process that leads me to my market conclusion hypothesis...

Believe me or Don't believe me -- I don't care, all you guys are mice to me. I have nothing to prove to you. I'm just here to pass time with you Clowns...

Since you think of all of us as mice, and demean us to the point that you intimate that you can just step on us, either post a real money journal, or just leave the forum and stop talking about your magical proprietary system.

And I cannot count how many damned times someone on this forum has posted that if they posted their system, it would then collapse, because somehow, the multi-trillions of AV that trades each day would change because YOUR system was released on the world.

You are just not THAT IMPORTANT!

 

[Illini Trader]

Since you think of all of us as mice, and demean us to the point that you intimate that you can just step on us, either post a real money journal, or just leave the forum and stop talking about your magical proprietary system.

And I cannot count how many damned times someone on this forum has posted that if they posted their system, it would then collapse, because somehow, the multi-trillions of AV that trades each day would change because YOUR system was released on the world.

You are just not THAT IMPORTANT!

And remember Overnight that MacBook ripped you a new one with his very first post on ET. That is still a mystery.

 

[Overnight]

And remember Overnight that MacBook ripped you a new one with his very first post on ET. That is still a mystery.

That does not negate the fact that his proprietary process of trading will not affect the market in any shape or form. It just doesn't MATTER.

Ergo, if he tells everyone here what his proprietary process is, it will not affect anything. Anywhere. Ever.

Anyone can rip me a new one at any time they like. But that does not affect their importance in the trading world.

 

[easymon1]

either post a real money journal, or just leave the forum

How dare you! Please don't take my sunshine away!

 

[Overnight]

How dare you! Please don't take my sunshine away!
View attachment 291323

Can't you just post the actual video of her? How DARE you!

 

[Illini Trader]

I'm not telling you, teaching you, explicitly what I know...so you can make a million in a month,

Tell me explicitly again? I am not sure I fully get what you know so I can make my million a month. Dang, we are already a full week into the month so I will have to settle for 3/4 of a million by the end of the month.

Just one of the mice or clowns, not sure which I am, having a little fun with you.

But you do make a good point on trading options on SPX. Since SPX has a contract that expires every day now, and by trading on the expiring contract, you can get some serious percentage gains per amount invested with the size of SPX being 10 times SPY.

If you can trade!! However if you are wrong on direction the premium on SPX melts like an ice cube on the sidewalk in the hot summer sun.

 

[virtusa]

If you are going to do something....do it grande, with ambition, TaoWave,

https://www.cboe.com/us/options/market_statistics/
The Holy Grail, or a nuclear bomb, of market money returns. Align that enriched plutonium around the core,

 

[easymon1]

SPX contract that expires every day, trading the expiring contract, serious leverage.

Where's a good place to get info on this product?
Where's a website focused on trading this scenario? No quality requirements, where did you go to pick up what you know?
This won't take long. This will be easy. Let's make a fortune overnight!

 

[easymon1]

Tell me explicitly again? I am not sure I fully get what you know so I can make my million a month. Dang, we are already a full week into the month so I will have to settle for 3/4 of a million by the end of the month.

Just one of the mice or clowns, not sure which I am, having a little fun with you.

But you do make a good point on trading options on SPX. Since SPX has a contract that expires every day now, and by trading on the expiring contract, you can get some serious percentage gains per amount invested with the size of SPX being 10 times SPY.

If you can trade!! However if you are wrong on direction the premium on SPX melts like an ice cube on the sidewalk in the hot summer sun.

Trading SPX Weekly Options
https://www.elitetrader.com/et/threads/interesting-search-terms.365486/page-6#post-5651378

 

[Illini Trader]

Where's a good place to get info on this product?
Where's a website focused on trading this scenario? No quality requirements, where did you go to pick up what you know?
This won't take long. This will be easy. Let's make a fortune overnight!

1. The CBOE site is a good place to start.

2. I picked up what I know through experience of trading it and researching it at the time on how it works. In 2016 and 2017 I sold Iron Condors on every SPX expiration available at the close prior to expiration date. I thought I had a "Cash Cow" that would last forever. However in 2018 the market makers could just not get enough premium into the options and I was getting too many max losses so I quit. Price just blew right through my IC protection.

I don't know of any websites that specialize in the SPX but I am sure there of some out there.
I will give you a couple of caveats though.

1. Stay away from the Monthly AM settlement. That is crazy and I don't know why they even have it. Trade only the Weekly's. Strange name in that there 5 expirations in a week now.

2. There is no underlying ETF behind SPX like there is in SPY so you can let it settle without getting out of your option at the close. It is a cash settlement into your account. It is much easier that trying to exit a position near the close. The bid gets below intrinsic value so you can really get hosed if you are not careful in a late close out. I let all my Iron Condors expire on the cash settlement process and it is smooth and seamless. Statements sure look strange as they show full value of your settlement contracts.

3. The great thing about SPX is that profits are taxed like a futures contract. A lot of wheeling and dealing with congress to get that done. So, 60% of an SPX option trade profit is taxed as a long term gain and 40% is taxed at ordinary rates.

4. Trading SPX options is a lot like trading TSLA options. There is so much premium early in expiration day that you have to have movement or the option just melts away. The last hour prior to expiration has been fun on TSLA the last two weeks.

5. I went back on TOS and took some screen shots of Friday's action of the SPX option chain close to the turning points during the day that shows how you can use it for good profits "if you have an edge on determining direction". I could post those if you or anyone else is interested.