Let's talk about our returns. Got any?

There are two reasons not to talk about your returns:

a) "Art of war" kind of thing - if you are weak, it's better to be percieved strong, if you are strong, it's better to be percieved weak. So, nobody actually gives the numbers, however it's a pretty solid indication that someone is not doing too well if they are screaming "i made a killing last year".

b) In the corporate world, disclosing your compensation to someone from the same firm can get you fired.
 
sle-

that's not true of every firm. compensation figures are well known in many. and you know the guy next to you is MAKING money (an income), not losing money.

as i said before, a famous options guy told me he didn't know of any retail customer consistently making money from options.

at any rate, good luck.
 
Quote from pattayatrader:
compensation figures are well known in many
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Well, the fact that they are well known does not make them public. The only public figures are that of upper management.


as i said before, a famous options guy told me he didn't know of any retail customer consistently making money from options.


Fully agree with you.

at any rate, good luck.

i prefer to hear "get better" these days, but this will do too. thanks
 
Adamoptions,

I traded derivatives for a retail firm for over 5 years. In this period I witnessed hundreds (if not thousands) of people speculate using equity options. I played too. The overwhelming majority of these people failed to make any money--consistently. I believe that this market is perhaps the ultimate 'losers game'. Beating the market--consistently-- is difficult at the best of times. If you choose to use options as your instrument of choice the game is tremendously difficult. For evidence of this you need not look any further than the fact that 90% of long positions expire worthless. Based on simple probabilities you're better off being a seller rather than a buyer. Write calls, let them expire, repeat.
 
Quote from iceman1:

...My better prior months have been primarily selling premium. Maybe I started with a credit spread or even backspread... then converted it... into a ratio credit, exited longs/held shorts naked, or vice-versa, converted into strangles or straddles, double credit spreads; etc. etc.

I have also found that as I "improved" my positions sizing. i.e. money management... the performance has improved...
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I went to the McMillan talk at the expo. This sounds along the lines of one of the strategies he suggests.

Of course, I am an options newbie, so this may be a standard technique and not McMillans at all.

nitro
 
Well it took about six months to get the hang of things (lost about 5k), but now I'm averaging about 10% a month on my 50k account. Not getting rich, but it pays the bills.
 
I have to share this. I went to my wifes tax guy yesterday to finish up some old taxes. I got there around 12:30. I saw cybertrader on his screen and I saw him say I got filled. I looked at his orders. He sold 20000 txn. 20000 sch and bunch of other orders. From what I could see he made 30,000 to forty thousand dollars yesterday on his cyber account.

It could have been luck but I mean he want home with a bunch of stuff that he had smaller orders on that were longer term positions that did not get taken out and he did not seem to care at all.

I was completely blown away by his calmness. I talked to him about his trading and just had a feeling that yesterday was not unusual. All I can say is that it was a hugh change from all the high activity trading places I have seen.
 
Quote from tshin01:

Can you tell me what an option is? Thanks~ please don't laugh at me....Im a high school kid, trying to learnt he market.
Thanks~

I also want to know what is a put, call, short, long...sort of confusing ~ :confused: :confused: :confused: :(
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Have your public library order order;

How to make money in Stocks- William O' Neil

BIG TRENDS- Price Headly

All books by ,especially top trader books by Jack Schwager.

Might have Schwager in inventory and note while these books contain some of best option info, mostly stocks!!!

=============================

''In all labor therer is profit'' Solomon= trader king.:cool:
 
Quote from jem:

I have to share this. I went to my wifes tax guy yesterday to finish up some old taxes. I got there around 12:30. I saw cybertrader on his screen and I saw him say I got filled. I looked at his orders. He sold 20000 txn. 20000 sch and bunch of other
==
orders. From what I could see he made 30,000 to forty thousand dollars yesterday on his cyber account.

It could have been luck but I mean he want home with a bunch of stuff that he had smaller orders on that were longer term positions that did not get taken out and he did not seem to care at all.

I was completely blown away by his calmness. I talked to him about his trading and just had a feeling that yesterday was not unusual. All I can say is that it was a hugh change from all the high activity trading places I have seen.
More...

%%%%%%%%%%%%%%%%%%%%%%%%%%%5
Probably not luck Jemtrader;
SCH trends well , trends
better than any option,narrow bid /ask;
it's an uptrending,directional , bull market, & 12:30 approximately,can be a good time to sell.
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Adamoption;
I wouldnt take it personally;
very few businessmen [including traders ] will return you much about profits & cutting losses.

My best returns have been from the Sheldon Natenburg option strategy for moderate bull or bear;
buy long or sell short the underlying.

Adamoption, actually you seem to be skilled at cutting losses, better than me when i first started. What happened to profits run??? Profits may run more in uptrends, but slower.

I would mention returning to QQQ options, since the major,primary, & most secondary trends have been directional, uptrending bull market lately. Like a one [1] year- 15 minute real time chart on SCH . ALMOST never look at a 15 minute option chart realtime. Like to return to 1 year chart,

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''Written down so we would know how to live well''-Solomon-trader king.
===========

Only one Peach tree did excellant returns, apple trees had a high % yield;
neighbors peach & plum had high % yield this year. Same creative pattern ; but unusualy fruitful year.



:cool:
 
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