Man, this option stuff is a piece of cake...
nuthin to it.
nuthin to it.
Make a couple hundred, lose a couple thousand....
- Thread starter Arnie Guitar
- Start date
Quote from Arnie Guitar:
Man, this option stuff is a piece of cake...
nuthin to it.
Care to give us some specifics?
Well....I'm not quite sure how to answer that,
I guess that's a yes....
Not right now, it's too depressing.
One thing i will say,
I always remind myself,
If I would have taken the other side........
Someday I'll find the nerve to go long options,
instead of short.
I think I'm starting to think it's a better way to go.
I always remind myself,
If I would have taken the other side........
Someday I'll find the nerve to go long options,
instead of short.
I think I'm starting to think it's a better way to go.
I really don't have the brains/discilpline/whatever
for the greeks, the studying, etc.
I go on gut feelings.
I have a group of 15 stocks I watch,
I listen to the news, I think about interest rates,
momentum, historical prices, etc..
and I place my bets.
It's fun, entertaining and exciting.
Who knows, maybe someday I'll be good at it!
for the greeks, the studying, etc.
I go on gut feelings.
I have a group of 15 stocks I watch,
I listen to the news, I think about interest rates,
momentum, historical prices, etc..
and I place my bets.
It's fun, entertaining and exciting.
Who knows, maybe someday I'll be good at it!
Arnie,
There's a simple saying that you need to live by, "Don't mistake a bull market for brains."
The last several years have been up-trending and I think many of the people on this site in general have done well due to this simple fact. Now it's gonna start to get interesting. I think there are only a handful that "survived" the bubble and are here today. Capital preservation is an instinct that you also need to acquire, especially in options.
Second saying that is very appropriate for options traders, "It's easier to lose your opinion than your capital.".
If I remember correctly, you are using a writing strategy? Like all other options strategies, there's a time and place for that, just got to get to know the when and how.
Last, "If it were easy, everybody would be doing it.". I think this last week it would be hard to find anyone that didn't take some hits on some positions. Even those that capitalized on the end results of the sell-off probably had to cut some losing positions before climbing atop the bear's back.
Like someone else on ET has said before, "Keep rolling that rock.". Look at the bright side, you survived for now and can at least admit to it and have enough capital to get back into the game when you're system tells you to or your emotions let you. Battle scars are all a part of the game and build character. ET is full of a bunch of characters, but only time can and will reveal those with character.
Good Luck and KEEP AT IT!
(the markets need your liquidity...........tongue planted firmly in cheek)
There's a simple saying that you need to live by, "Don't mistake a bull market for brains."
The last several years have been up-trending and I think many of the people on this site in general have done well due to this simple fact. Now it's gonna start to get interesting. I think there are only a handful that "survived" the bubble and are here today. Capital preservation is an instinct that you also need to acquire, especially in options.
Second saying that is very appropriate for options traders, "It's easier to lose your opinion than your capital.".
If I remember correctly, you are using a writing strategy? Like all other options strategies, there's a time and place for that, just got to get to know the when and how.
Last, "If it were easy, everybody would be doing it.". I think this last week it would be hard to find anyone that didn't take some hits on some positions. Even those that capitalized on the end results of the sell-off probably had to cut some losing positions before climbing atop the bear's back.
Like someone else on ET has said before, "Keep rolling that rock.". Look at the bright side, you survived for now and can at least admit to it and have enough capital to get back into the game when you're system tells you to or your emotions let you. Battle scars are all a part of the game and build character. ET is full of a bunch of characters, but only time can and will reveal those with character.
Good Luck and KEEP AT IT!
(the markets need your liquidity...........tongue planted firmly in cheek)
Algorithm,
Thank you for your post. Actually, this month wasn't that bad, my real/royal screwup was not knowing Google was reporting last month, and freezing, when some calm action taken would have greatly reduced my loss.
Thanks to people here recommending spreads as opposed to just going naked, I'm doing alot better, and taking more positions, and feeling a little better having some protection.
I did good on Google this month, I had four positions on it, and all made money, but like I said, not alot, hundreds, not thousands.
I also blinked on MO when she was retracing hard back to 70, and covered some naked 70 puts that would have made money, but I also had some 65's and 60's that did real good.
Hey, don't get me wrong, I'm having a good time, learning to be more careful, cutting the losers, adding to the winners....
And besides, I've been playing guitar for 40 years, and I finally took the time to learn "Scarborough Fair" this morning. I always wanted to learn it, but never got around to it. Then there's the Preakness today, qualifying for the pole at Indy, a NASCAR race on the tube tonight, plenty of food in the fridge, a roof over my head, lotsa toys around, a loving family, I'm still breathing......
Life is good.
Arnie
Thank you for your post. Actually, this month wasn't that bad, my real/royal screwup was not knowing Google was reporting last month, and freezing, when some calm action taken would have greatly reduced my loss.
Thanks to people here recommending spreads as opposed to just going naked, I'm doing alot better, and taking more positions, and feeling a little better having some protection.
I did good on Google this month, I had four positions on it, and all made money, but like I said, not alot, hundreds, not thousands.
I also blinked on MO when she was retracing hard back to 70, and covered some naked 70 puts that would have made money, but I also had some 65's and 60's that did real good.
Hey, don't get me wrong, I'm having a good time, learning to be more careful, cutting the losers, adding to the winners....
And besides, I've been playing guitar for 40 years, and I finally took the time to learn "Scarborough Fair" this morning. I always wanted to learn it, but never got around to it. Then there's the Preakness today, qualifying for the pole at Indy, a NASCAR race on the tube tonight, plenty of food in the fridge, a roof over my head, lotsa toys around, a loving family, I'm still breathing......
Life is good.
Arnie