I need help with trading options

[ironchef]

Complete nonsense of a post. Respectfully, you're a fool.

I think you are too critical. His comments are not without merits, just like yours. Both of you brought up very valid points which I appreciate.

He's famous for being against options and has some sort of valid points related to black swans.

I don't think that is a true statement. He was a derivative (options) trader and made his fortune as a derivative trader. This is from Wiki:

Taleb reportedly became financially independent after the crash of 1987[21] and was successful during the Nasdaq dive in 2000[33] as well as the financial crisis that began in 2007,[9] a development which he attributed to the mismatch between reality and statistical distributions used in finance.

I never like his attitude and self promotion but his concepts are very profound and greatly affected the way I trade.

 

[ZBZB]

Read wallstreetbets on reddit to learn about buying options. Then think about selling them.

https://www.reddit.com/r/wallstreetbets/

 

[Option_Attack]

Read these two, then realize how easy it is to blowup...

 

[ironchef]

Read these two, then realize how easy it is to blowup...

Are you sure you want us to read James Cordier? Here is his apology video for blowing up all his clients' money:

https://www.institutionalinvestor.c.../He-Blew-Up-His-Fund-Now-He-s-a-Laughingstock

 

[Turveyd]

First you need to work out the direction of what your going to be trading options with if up buy Calls if down buy Puts, as easy as that.

Shouldn't take more than 2 to 10 years to crack above, get in touch when cracked.

 

[BlueWaterSailor]

Are you sure you want us to read James Cordier?

I think Niederhoffer and Cordier were used as examples of failure rather than recommendations.

 

[gaussian]

You seem to have taken personal offense by his work. Given your name, Gaussian, I can probably take a guess as to why...

I consider myself decent at probability theory. I wouldn't consider myself offended by his writing but more confused. Like I said, it's worth reading once you've gotten a basic understanding established.

I'll throw you a bone to show I still like you. I would highly recommend Taleb's book Dynamic Hedging once OP has gotten a hang of things.

 

[Amahrix]

I consider myself decent at probability theory. I wouldn't consider myself offended by his writing but more confused. Like I said, it's worth reading once you've gotten a basic understanding established.

I'll throw you a bone to show I still like you. I would highly recommend Taleb's book Dynamic Hedging once OP has gotten a hang of things.

Fair enough.

 

[ZBZB]

First you need to work out the direction of what your going to be trading options with if up buy Calls if down buy Puts, as easy as that.

Shouldn't take more than 2 to 10 years to crack above, get in touch when cracked.

Trend following, moving average, donchian channel, price action.

 

[Turveyd]

Trend following, moving average, donchian channel, price action.

12 years in Moving Averages and BB's for me, easy to say, hard to do live in the heat of battle day in day out, with random shit ruining your day occasionally and creating a lot of fear, greed and self doubt.