Professional Trader - Ask your questions here for the next few days...

[the1]

C'mon Mercor, you gotta ask a question you don't already know the answer to

Quote from Mercor:

Do you use a stand alone screen for your porn?

 

[DisciplinedHedg]

Quote from ByLoSellHi:

Is it possible to make consistent profits, and by the time you retire from trading, be net positive, and avoid committing suicide like Livermore and others?

I would think it is possible because some have done it.

Quote from ByLoSellHi:

Is it true that the surest way to make a small fortune trading is to start with a large one?

I don't know what the surest way is.

Quote from ByLoSellHi:

Isn't is the case that the only way you can make money over the long term, and not lose one's ass, is to trade (and lose) other peoples' money?

I've never thought about this so I can't say.

 

[DisciplinedHedg]

Quote from biz for years:

Well since I am not so new to trading, I'll ask a more sophisticated question

Why didn't you start a hedge fund already ?

A hedge fund is a different lifestyle. Not one I am currently interested in.

While I do manage money, it is very very passive, and was unsolicited.

 

[Copernicus]

Quote from aradiel:

What do you think about guys like Steve Cohen? Do you feel he is a scam or that he will blow up sooner or later? Btw, please dont spoil this thread with your apocalystic bias, thank you.

why would SAC blow up? many sector specialists across the board with relatively shorter holding period , none of the highly leveraged arb bs, doing some private equity..

 

[shortie]

momentum or RTM? what proportion if both?

what's the current account size?

was 2008 as good as 2009?

what happened to gnome?

 

[DisciplinedHedg]

Quote from lynx:

Hi, thanks for offering to help.

I've got a few questions please.

1. What role do futures options play in your overall method? What percentage of your profits do they account for?

2. What's your basic approach to futures options?

3. Do you trade a mechanical system, a discretionary system based on visual setups, or something less quantifiable?

4. How often do your methods fail you and have to be re-invented?

5. What were the big insights and personal changes that let to your becoming profitable.

And of course I'll be happy to hear all about your systems in much detail as you'd care to give.

Thanks!

1. Futures options are important in my trading. I use futures to hedge options positions, and vice versa, so it's hard to quantify each ones importance.

2. I mostly write options.

3. I am purely discretionary.

4. Since 16 years ago, I've moved from stocks and everything in between to futures/options because those all failed me.

5. Simplifying as much as possible. Eliminating everything unnecessary or detrimental. It is a process and still is. Because of human nature, it's not easy for me.

 

[DisciplinedHedg]

Quote from Greenrush Drew:

Good thread and thanks for sharing. How did your first 5 years go and what were the major reasons why you were not successful?
Did you have a mentor or were you self taught?

I think I was not successful for many reasons. Some that come to mind are that I was not full time, too much pressure, too little understanding of psychology, didn't recognize my own weaknesses.

I have never had a mentor.

 

[DisciplinedHedg]

Quote from dealmaker:

What platform do you use and have you tried a few?

I haven't tried that many. I've used IB's TWS only for many years.

 

[Stok]

Would u share the basic principle/strategy of your option writing and hedging with futures? Is it some sort of iron condor, directional, etc? Thanks!

 

[DisciplinedHedg]

Quote from Kassz007:

1. How long did it take you to consider trading to be your full time job?

2. In your opinion, what is the number one reason most traders fail?

3. What is your home setup like? Picture would be swell, but a description would also be interesting.

Thanks.

1. Somewhere between 5-10 years.

2. Not disciplined enough.

3. Regular office room with home computer and 2 large screen monitors.