Personal note

Quote from wayneL:

While that is certainly common in trading, trading successfully and writing a book are not mutually exclusive.

If this were true, we should be suspect of books written in other fields of business and performance.

Richard Branson and Donald Trump have both written books. Whether or not their style tickles your fancy, there is no question that they are good and successful businessmen.


IMO
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Richard Branson Successful businessman, yes, Donald Trump, no. Trump is a fraud. I realize he is supposedly a guru and rich guy, but I believe the reality is quite different. My 2 cents, and done with thread hijacking. It's just Trump makes me ill.
 
You deserve it Mark. I can imagine the time and effort you put in to your blog & replying to posts would go largely unrewarded, so enjoy fruits of your labour.

Personally, I think it's bloody pathetic how people get jealous of other peoples success. Word of advice to the naysayers, stop chopping down the tall poppies & become one yourself.
 
Quote from r-in:

Richard Branson Successful businessman, yes, Donald Trump, no. Trump is a fraud. I realize he is supposedly a guru and rich guy, but I believe the reality is quite different. My 2 cents, and done with thread hijacking. It's just Trump makes me ill.
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ROFL

I hear you mate. :)
 
Congrats, Its a good book I always recommend it to folks who ask me about options. I am too lazy to bother and your book explains in a way that is easy for folks new to options to understand. And it saves me the hassle. :)
 
Quote from dagnyt:

Have you never shared good news with anyone?

Have you never understood the difference between "share the good news" and "free publicity seeking that skirts having to pay for sponsorship or advertising?"

Quote from dagnyt:
Bottom line: They do object to my post.

I am glad you understand and agree that they object to your post. Now you finally realize that you were violating TOS :D
 
Quote from TraderZones:



I am glad you understand and agree that they object to your post. Now you finally realize that you were violating TOS
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You are incorrect once again.

When I finnally heard from ET for the second time, the clarification tells me they 'mind; but that it is NOT a violation of TOS.

Your constant nastiness is far more anti-TOS than my mentioning a book
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You may not care, but if you read the comments of others you will note that the accepted opinion is that this is a quality book that benefits the readers. Get it? It benefits the readers. I am them a service and arming no one.

As to TOS, this is what I heard from ET:

"If you have mentioned it once or twice in the past, fine. But I would keep away from saying anything else."

They don't want me doing this often. Apparently 2 or 3 times is okay with them.

The point is: The specific post of which you compalined - in and of itself - was not a violaion of TOS. Of course you will rant on the other senence, but that was not your original comlaint.

Mark
 
Mark,

Considering your conservatve risk mgmt approach, what's your annual return on assets, and what percentage of your account do you risk on a monthly basis, if you don't mind me asking?

Thanks,

Walt

Quote from dagnyt:

1) What's appealing to me may not be appealing to others

2) Strategy selection is important, but risk management is far more important - at least in my opinion.

3) I don't like to pick market direction, so need a market neutral strategy. Iron condors suit that need

4) I believe buying options has little chance of success - but again, that's my point of view and comfort trading zone

5) Thus I sell option premium in a market neutral fashion

6) Iron condors fill my needs for market neutral and 'sell premium'

7) The position can work wonders. Sometimes, the clock ticks , the market doesn't move much, and the short positions fade away. Lovely.

But not too common.

8) Thus, a significant part of the time, some sort of action will be needed before expiration arrives. That action is taken to reduce risk. This means that I must be willing to lock in losses, and I am.

9) I can buy insurance before it's needed. That reduces profit potential, but also reduces risk. That's a trade-off I am willing to take - and I understand that many traders are unwilling to do that.

What I like about insurance (owning extra puts and calls - plus variations on that theme) provide an occasional chance to earn extra profits. Not likely, but possible.

Insurance means fewer adjustments and it also means profiting from a black swan event.

10) All in all, I have a premium-selling position with limited losses. That's good. I also get to buy insuance that makes it smewhat less likely that I will incur losses.

All in all, that fits my comfort zone. I've still taken losses during these unidirectional markets, but diligent risk management keeps these under control.

11) This does not suit everyone. But, the combination of characteristics of my portfolio suits me.

Mark
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Quote from jones247:

Mark,

Considering your conservatve risk mgmt approach, what's your annual return on assets, and what percentage of your account do you risk on a monthly basis, if you don't mind me asking?

Thanks,

Walt
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Hi Walt,

I have a separate account for my 'options money.' And I use almost all of my available margin on a monthly basis. I have confidence that option trading produces profits, so that is by far the bulk of my holdings.

As far as returns are concerned, my actual results won't tell you very much.

In good years I earn between 25 to 30%.

In years when I lack discipline I incur losses.

The reason my specific numbers don't matter is that

a) I am not going to back them up with proof.

b) The higher the returns claimed, the less believable they are.

c) You can open exactly the same trades as I do and your results will be very different.

Mark
 
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