HowardCohodas Index Options Credit Spread Trading Journal

HowardCohodas · Feb 25, 2011

Quote from Maverick74:

Welcome to the future home of our blog and trading journal. Here you will also find links to our education, training and coaching services. Book, articles, Howard's TradingÃ¯Â¿Â½ Checklists.
Sign up to be notified when our free and paid services go live.

That is advertising. You are directing people to what is going to be a commercial site as you state above. This violates ET's advertising policy.

That is not part of my interview. Until you pointed this out, I thought that the link they would provide would be to my email address for more information. Paul did mention that the website was not working yesterday and I did tell him it would be up the next day. I should have been more obvious to me what he had in mind.

I'll tone down the home page and just mention the free stuff that is coming so as not to compromise my privileges here. Thanks for the heads-up.

Maverick74 · Feb 25, 2011

Quote from optioncoach:

SO when you paint the strategy as low risk and "easy" when those of us know that nothing is easy in option trading no matter how pretty the probability of touch numbers paint it, and then will be a self-proclaimed teacher, coach, mentor, then we feel a little protective of the beginners you will pass on this misinformation to.

Mav, Atty and Coach...the three wise men here to protect you.

atticus · Feb 25, 2011

I am dying here knowing that this guy is concerned about his IP with this prob of touching and credit spreads. Honestly, I don't care if anyone blows up following Howard. I am simply an asshole who's delusion detector went to 11.

HowardCohodas · Feb 25, 2011

Quote from optioncoach:

Sell a 25-point wide credit for $1.50.

The reward is $1.50
The max risk is $23.50.

The risk is many times greater than the reward.

If this fact is not clear enough and you still want to argue it then please reconsider trading. This is simple risk/reward analysis that any beginner option trader should have mastered.

Buy a $10 stock hoping it will go up 10% in 60 days. Reward 1$. Risk $10. Your thoughts?

HowardCohodas · Feb 25, 2011

Quote from Maverick74:

Mav, Atty and Coach...the three wise men here to protect you.

Using a copyrighted picture without compensating the copyright holder is not a good position from which to preach ethics.

atticus · Feb 25, 2011

Quote from HowardCohodas:

Buy a $10 stock hoping it will go up 10% in 60 days. Reward 1$. Risk $10. Your thoughts?

Right. And suppose that you bought it to the limits of your account. Wiped out your account at 100% loss, but the expectancy is 0% loss, less microstructure loss on entry and comissions.

Now suppose you have a wide Mar11 IC on XRX with shares at 10.90. The 7/9/11/13 condor is risking 1.87 to earn 0.13. Risking 14x your potential, but on a move of only 20%.

HowardCohodas · Feb 25, 2011

Quote from Maverick74:

Just curious about something here. Many of us on these forums have been trading "real" money for 10 to 20 years and even longer. You admittedly have been trading this strategy for less then 2 years and you are "coaching" people on it? Do you really think that is ethical? Do you really believe you are an "expert" on credit spreads? Maybe you should get 5 to 10 years under your belt before you try to make your coaching a commercial endeavor.

In spite of your gross ethical lapse, I will answer your question. As long as I am completely transparent about my research, options experience, results good and bad then any potential student is making an informed decision. Just as I do my due diligence, I plan to provide potential students with the ability to do the same.

Don't use copyrighted material without compensating the copyright holder. That is not ethical.

atticus · Feb 25, 2011

Quote from HowardCohodas:

Using a copyrighted picture without compensating the copyright holder is not a good position from which to preach ethics.

How are you so certain it's not his picture? I've seen his pet camels, so there.

HowardCohodas · Feb 25, 2011

Quote from atticus:

Right. And suppose that you bought it to the limits of your account. Wiped out your account at 100% loss, but the expectancy is 0% loss, less microstructure loss on entry and comissions.

Now suppose you have a wide Mar11 IC on XRX with shares at 10.90. The 7/9/11/13 condor is risking 1.87 to earn 0.13. Risking 14x your potential, but on a move of only 20%.

Ignorant. Ignorant. Ignorant.

Try reading the description of my methods before posting.

Maverick74 · Feb 25, 2011

Quote from HowardCohodas:

Using a copyrighted picture without compensating the copyright holder is not a good position from which to preach ethics.

You are not really making the comparison of posting an image from the internet to charging customers for coaching services in which you have no basis for doing the coaching are you? Really? You really think taking people's hard earned money in exchange for showing them how to slap on a credit spread risking 10 to make 1 and using words like easy and edge and then comparing that to pasting an image on a forum? Howard, my man, it's happening. Just as your friends and family said it would...you are losing control.