Options are only good for two things...

Quote from RangeTrader:

Actually, I technically do have a 99th percentile IQ

, but I also am intelligent enough to know that the learning curve on stocks and futures is 10x as easy.

Why waste energy with something that takes ten times as long to get good at and isn't as profitable?

Honestly... Traders go through these stages...

Traders who get bored with stocks because they win all the time move to futures... Then when they get bored of futures they move to options, then the highest skilled traders hang out in forex...

Forex is real tricky because the retracement cycles are just not there. In equities and futures they are like clockwork.
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If you were as smart as you claim, learning options should take minimal time. Derivatives like options also offer 1000x more flexibility than stocks and forex. There you either go long and short, that's it. With options you can trade delta, vega (vola), gamma, theta (time), +higher order greeks and pretty much a thousand different combinations of things. In addition you get much better leverage. Seriously, after I went over to trading options I havent looked back, the opportunities there are pretty much endless. IMO every serious trader should look into it.
 
I'm pretty sure this isn't a "real" thread and this dude is just looking for attention. But if it is real I'm pretty sure I recognize you. You're the dimwit I take money from every day. PLEASE keep trading futures
 
Quote from RangeTrader:

Hedging stock positions when a correction is imminent or placing big bets in high odds situations.

Anything else and your just a liquidity provider for the options market...

The only time I would place options bets nowadays is shortly after crashes or at the ending areas of major corrections where the market range is over 50-150 points per three to five days. The kind of situations where you don't care to risk possibly getting stuck holding futures contracts as the market can 150 handles against you in a few days then 250 handles the other way....

When I think of people and options strategies it's like... "God, what a bunch of nerds..." The majority of options are sold by big firms on wall street to generate steady income. They have very advanced models...

Stick with something simple that you actually have a good shot at... or Stocks
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Some have used them like selling insurance:cool:
Others have used them as form of ''justice'' Like to put it simple;
puts against some of the big banks full of derivatives like MS,C, JPM,BAC....

But you need to have a pretty good uptrend or downtrend for buying options to work.MS,BAC, C, JPM have been good for puts in the past, but its wise not to predict.

:cool:
 
Quote from researcher248:

Options are only good for two things...

buying them from retards, and...

selling them to retards.
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Same with all securities, no? :D
 
Quote from RangeTrader:

Actually, I technically do have a 99th percentile IQ, but I also am intelligent enough to know that the learning curve on stocks and futures is 10x as easy.
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so?!

however if that is true then you must be cleaning up in the market since you obviously believe intelligence has everything to do with trading success. I know guys with high school degrees who made millions.
 
The 116 is the best on Vol/Tick charts... If you want a holy grail SMA for tape reading try the 233 on the 1m SPX cash market.

The 116 is also great on all 15m and 1h all hours ES charts.


I was doing some analysis with my cyclic indicator and discovered the 10 and 20 SMA give me a better short term read on the market on daily and higher charts. With the way I trade most of the time... For positioning for months or years the 116 would be the best SMA for tape reading.

Know what has me confused this week... I expected us to finally run into a little selling this Tuesday(Tomorrow) late session... But, it's a half day... So I'm not sure if it counts or not...

Whatever, doesn't matter... There won't be a good high odds swing short setup without another three rally cycle stacked on top of this one anyway. With or without a consolidation...

We shall just have to see how she sets up. If the trade is missed, she is missed... Oh well!
 

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Hmmm... You happen to hang out in TDA chats when I use to make 90% accuracy market calls for weeks?

I use to go under "Capitalist" and "Reppin" I think...

Chatrooms got way to distracting and effected my trading. With a forum I can just come entertain myself when I'm bored.


Quote from DayTrader10:

He is in the 99th percentile and uses moving averages to read the tape...specifically the 116 period moving average.
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