HowardCohodas Index Options Credit Spread Trading Journal

Eliot Hosewater · Apr 14, 2011

In my view a trading journal should be more like

1. Post a trade you open in real time, or even before, maybe with some reasoning behind it.

2. Post any adjustments along the way.

3. Post the results after you close, maybe with some postmortem analysis.

HowardCohodas · Apr 14, 2011

Quote from eudaemon:

It will make apparent if your method is a-viable as is, b-viable with modifications, or c-utterly useless. To a few readers at least.

It will also enhance your credibility some, IMHO.

And the trading posts plus monthly summaries that I have provided since the beginning of this journal do not accomplish this because?

Appleseed · Apr 14, 2011

Quote from falconview:

OPTIONS are not part of the day trader rule??? You sure? Anyplace I can verify that?

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If yiu wish to trade SPY and not violate the PDT rule create a synthetic with the options

cheers
john

opt789 · Apr 14, 2011

Put it to a vote.
I vote Howard lists all the details of his trades YTD, and post future trades in at least close to real time or stop posting on this site forever.

All real traders know that if you are trying to prove something to people or get them to subscribe to your tutelage then you have to show your actual trades, this is not a point up for debate.

eudaemon · Apr 14, 2011

Quote from HowardCohodas:

And the trading posts plus monthly summaries that I have provided since the beginning of this journal do not accomplish this because?

Is that another trick question?.

atticus · Apr 14, 2011

Quote from Appleseed:

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If yiu wish to trade SPY and not violate the PDT rule create a synthetic with the options
cheers
john

But you cannot close the synthetic in the same day. Twice in one day and you will trigger PDT. Each leg is considered one day-trade.

IOW, options fall under the purview of PDT.

HowardCohodas · Apr 15, 2011

Quote from eudaemon:

Are you going to post every trade taken since the beginning of the year with your method or not really ?.

I'll do better than that. This is every trade I've made since I started trading the current strategy. I've yet to finish my bookkeeping for March but I didn't want to prolong the disclosure.

eudaemon · Apr 15, 2011

And the net account equity (net liquidation value) on the close of March 16 please?.

falconview · Apr 15, 2011

Yes, I kind of lend toward the way TOAD used to report his trades. There was a running equity balance. I donÂ´t know if he died, or got wiped out, but it was impressive while it lasted.
His old websites are still on the internet. He used to start with $75,000 a year and for some years he made another $75,000 on top of that. He did day trading pretty much and had some ( to me ) horrendous drawdowns. I learned a lot from the TOAD though never had the capital at the time to try it. Plus, he actually made more teaching, with people going to his house for a few days to get live experience for $25,000. He wasnÂ´t shy about telling what he was judging the market with either.

Rodney King · Apr 15, 2011

Quote from eudaemon:

And the net account equity (net liquidation value) on the close of March 16 please?.

For heaven's sake... HoCo has explicitly told you his strategy -- he sells credit spreads, based on what he believes to be their 'value' relative to a delta-like measure he calls 'probability of touching.' And he's shown you all his trades... If you don't like his style of trading, don't read his posts, and don't buy any futures wares he might vend... But it's unreasonable to ask him to post his bank / brokerage account statements. Do you post yours?... As my grandfather used to say -- what do you want, egg in your beer?