Quote from BrandNewTrader:
How do you know how much money I put into the trade? I never gave an absolute amount, I spoke only in terms of risk.
Why would you label long-dated out-of-the-money options as lottery tickets? That just shows you know nothing about options trading/speculation. Options are securities that allow you to limit your risk while gaining exposure to superior returns. Maybe you should learn more about them? I have a formal background in options pricing, do you? I know very little about credit markets and would not make srong assertions about someone else's CDO trading strategy because I know very little about it.
I am a new trader but am not new to the markets. I am already familiar with the market and probabilities. I am currently learning about profitability.
You've been around a while and I'm sure you have enjoyed success trading (?). But don't assume I don't know what I'm talking about when you don't know anything about the basis upon which I am making a trade and what my strategy/tactics are. Without knowing those details you're just "flaming" me on some sort of "newbie patrol"?? I don't know. That's bull$hit, you should know better...
Why do you think there will not be a US recession through 2007? That is the 30,000ft view that serves as the underlying premise of that particular trade I am making.
And to further correct you, I didn't buy any ES puts, the minis don't go out far enough on Globex. I bought SPY puts out to Dec 07 at varying strikes and expirations. I am also preparing put positions on copper, brazil, china and the homebuilders, call options on oil. Also considering silver puts.
I am also developing my own daytrading system based on a combination of fundamental and technical analysis. Right now it revolves around trading the Sector HLDRS ETF's based on chart analysis of the long term, intermediate, and short-term trends. Still figuring out optimal amount of indicators, which indicators fit my style the best, and what combination of information resources (barron's editorials, wsj editorials, bloomberg, newsweek, businessweek, economist, trading mags) give the best fundamental economic picture of the market.
Do you approve Bitstream? Or does that sound like some dumb newbie $hit to you? Please, be honest with me.
If anyone else thinks I am deluding myself, please say so. I've noticed a subtle hazing culture here? Not sure. Not saying im against hazing per say, just surprised at how misguided it is? Why don't you haze the idiots, regardless of their length of tenure. Maybe some of the hazers are the idiots. Maybe it comes down to who's got the biggest mouth rather than quality of content? Sounds like some dumb gradeschool $hit if you ask me. Who knows.
Seems to be uncharacteristic of people who are supposed to be mastering an art that requires deep introspection, emotional intelligence and clarity of thought...
