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

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Quote from DisciplinedHedg:

I've already answered the question.

I usually hedge the options position with the underlying when they go ITM.
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If you answered the question then I apologize.

If you did not answer the question directly using the quote feature then that is what you should do to stop confusion as some traders do not read all the posts as they don't have the time.

From my experience options are best traded as follows.

Short puts and calls for income generation based on premium erosion over time.

Long calls and puts for speculation on large market moves in a short period of time like the recent rally from below the 900 level.

Trading options on a daily or weekly basis for short term gains is a mugs game, and the reason is very clear to those who have traded options as mentioned per the last post.

The truth is I do not know if you are a genuine person or not and the fact is that I really do not care.

I do care about my trading decisions and how my decisions might influence other people if I speak about how I trade.

No real trader is going to divulge how he operates the whole sequence of events in trading and even if he did it would not matter to most as they have to be on the same wavelength as the trader in order to gain any real value.

An option can go ITM and OTM very quickly and depending on the level of the strike a Futures hedge against short puts can be whipsawed several times quickly eroding the initial premium.

That is me done here and may you all find the pot of gold at the end of the rainbow, for it really does exist, but you have to look in the right end to find it.
 
Given that I am a relatively new trader I do not have the experience to judge whether DH is a pro or not. Given that, I take him at his word.

Those who do not take him at his word should simply ignore the thread. Most of us that are new to trading have enough life experience not to blindly follow anyone. Stop posting under the guise of watching out for us.

WE SIMPLY DO NOT NEED YOUR HELP.

DH, as you are leaving this thread, I thank you for your time and effort.
 
Quote from Lucrum:

After skimming over some of the responses here it's easy to see why almost no one offers anything of substance any more.

Kudos to the thread starter for trying though.
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What exactly would constitute as offering something of substance to you? The OP's exact trading system offered on a platter and gauranteed to not lose?
 
Quote from Redneck trader:

Sir

Not to put words in your mouth but please tell me how far off I am


1.) Pick a time frame to trade (should match your temperament)
2.) Figure who is most likely in control (the odds favor of being in control) – (Buyers / Sellers) within above timeframe
3.) Figure out a point where you would be wrong (after determining #2)
4.) Trade accordingly
5.) Exit as appropriate

How we go about determining 1-3 is up to each person, and should match their personality / temperament / risk tolerance/ bank roll



Thanks

RN
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I'm not sure exactly what the question is here. If you are asking if this is what I do, I will say that I don't trade in steps and that are many many more steps if there were.

What you have outlined, sounds reasonable enough for each trader to pursue and think about.
 
Quote from Swan Noir:

Given that I am a relatively new trader I do not have the experience to judge whether DH is a pro or not. Given that, I take him at his word.

Those who do not take him at his word should simply ignore the thread. Most of us that are new to trading have enough life experience not to blindly follow anyone. Stop posting under the guise of watching out for us.

WE SIMPLY DO NOT NEED YOUR HELP.

DH, as you are leaving this thread, I thank you for your time and effort.
More...


+100
 
Quote from MrCharts:

If you answered the question then I apologize.

If you did not answer the question directly using the quote feature then that is what you should do to stop confusion as some traders do not read all the posts as they don't have the time.

From my experience options are best traded as follows.

Short puts and calls for income generation based on premium erosion over time.

Long calls and puts for speculation on large market moves in a short period of time like the recent rally from below the 900 level.

Trading options on a daily or weekly basis for short term gains is a mugs game, and the reason is very clear to those who have traded options as mentioned per the last post.

The truth is I do not know if you are a genuine person or not and the fact is that I really do not care.

I do care about my trading decisions and how my decisions might influence other people if I speak about how I trade.

No real trader is going to divulge how he operates the whole sequence of events in trading and even if he did it would not matter to most as they have to be on the same wavelength as the trader in order to gain any real value.

An option can go ITM and OTM very quickly and depending on the level of the strike a Futures hedge against short puts can be whipsawed several times quickly eroding the initial premium.

That is me done here and may you all find the pot of gold at the end of the rainbow, for it really does exist, but you have to look in the right end to find it.
More...

There doesn't seem to be a question here, but I will say this about trading futures options. When I do initiate a position, yes, part of my criteria is that I deem there is a very low likelihood that the options will go ITM.

Because just as you said, and I have already mentioned, it is difficult when it does and the potential for whipsaw is quite high. As a result, avoiding this scenario constantly depends on my being able to take on the initial position correctly.
 
Quote from DisciplinedHedg:

I'm not sure exactly what the question is here. If you are asking if this is what I do, I will say that I don't trade in steps and that are many many more steps if there were.

What you have outlined, sounds reasonable enough for each trader to pursue and think about.
More...

Thank You

A follow up if I may

The "many many many more steps"

What do they do for you Sir (not necessarily asking what they are - just what do they provide for you)

Thanks Again

RN
 
Quote from Swan Noir:

Given that I am a relatively new trader I do not have the experience to judge whether DH is a pro or not. Given that, I take him at his word.

Those who do not take him at his word should simply ignore the thread. Most of us that are new to trading have enough life experience not to blindly follow anyone. Stop posting under the guise of watching out for us.

WE SIMPLY DO NOT NEED YOUR HELP.

DH, as you are leaving this thread, I thank you for your time and effort.
More...
Critical posts are not necessarily about you and for your specific benefit. Are you suggesting that there should not be any critical assessment of content? For example, was I wrong to post my earlier remarks in this thread?
 
here let me take this one

So you been here long enough to post thousands of times and you don't get this?

Critical is one thing, but repeated harrassing of the original poster in the name of protecting people is another. I think every adult can see the difference between posts that offer logical criticism and those that cross the line and constitute harrassment and disruption of the thread.

My suggestion (to everyone) is post your so called critical comment and then move on.....the rest of us will appreciate the kindness and concern and we can then go on with whatever we wish to discuss.

This should be clear enough for everyone to understand
 
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