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

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Quote from gkishot:

If the OP is unwilling to share his profitable strategy then what exactly he is willing to share? What else is there?
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Let's be reasonable. I would certainly not share my own strategy in any meaningful detail, therefore it would be hypocritical of me to expect others to do so. (Unless they're selling something or trying to drum up a following, in which case I wouldn't pay attention anyway.)

However, I would expect such threads to cover some basics beyond "experience" and "feel." There's a fair amount of real estate between such wispy clouds and detailed strategy disclosure.
 
Quote from DisciplinedHedg:

It will sound simple, such that you will think that I am insulting you but I am not.

I sell puts or buy futures when I think the market is going up, and I sell calls or sell futures when I think the market is going down.

So, I guess it's in knowing when the market may or may not turn. I don't have a strategy for the "knowing" of that.

I will hedge when I think there is a large chance the market will move against me.
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1/Do you boomerang the premium or you just write it at market ?

2/ Do you intraday trade ES,NQ or CME currencies ?
 
Have you heard the story about the person who was seeking the truth and one day a knock came upon the door. The seeker asks "who's there?" "The TRUTH" answered the voice on the other side. "Go away!" the seeker remarked, "I'm busy seeking the truth".
 
Quote from Trader666:

Hmmmm... then you'd been trading professionally (as your sole profession and source of income) for 3+ years at the time you wrote these? Never would have guessed...

I've already browed the CME website looking for a quick summary of e-minis, but theres a lot of chaef there.
Can anyone describe in brief what they are, and the difference to options?
http://www.elitetrader.com/vb/showthread.php?s=&postid=81047#post81047

Anyone know where I can get these readings on the NYSE and NAS in realtime and preferably for free? besides the CNBC streamer
Is there a symbol for TRIN and TICK on InteractiveBrokers?
http://www.elitetrader.com/vb/showthread.php?s=&postid=82226#post82226

Is it true that the IRS doesn't get any information whatsoever from the broker about our option trades? As a result, the IRS has no information to compare our reported trades with?
Then how does the IRS know if we are over or under reporting our capital gains from options (other than indirectly thru interest reported in bank accounts)?
http://www.elitetrader.com/vb/showthread.php?s=&postid=160677#post160677
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That's good research Trader666 ...

... but as far as it "proving" DH doesn't know anything about trading options, it just doens't prove anything.

Q1. Refers to futures ... a completely different (and frustrating) game when compared to trading stocks, or even options.

Q2. Refers to tools that are used to trade futures intra-day ... referencing those tools are not necessarily important for stock or options traders.

Q3. Sounds like DH has been making money in Options, and needed some (really good) advice about the importance of reporting all of his winnings. The last question actually goes far in proving that he has been a successful trader before that post, and presumably afterwards. Greed rears its ugly head in many, many different ways, especially in this game.
 
Quote from Hombre:

1/Do you boomerang the premium or you just write it at market ?

2/ Do you intraday trade ES,NQ or CME currencies ?
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I'm not sure what you mean by boomerang. But if you are referring to whether I set limit or market for orders, I usually start by setting limits because the spread is wide for futures options. If I can't get a fill, I will take the market after trying the limit because I want the position filled. For futures, I hit the market price almost all the time.

I don't trade currencies at all.
 
Quote from Trader666:

Hmmmm... then you'd been trading professionally (as your sole profession and source of income) for 3+ years at the time you wrote these? Never would have guessed...

I've already browed the CME website looking for a quick summary of e-minis, but theres a lot of chaef there.
Can anyone describe in brief what they are, and the difference to options?
http://www.elitetrader.com/vb/showthread.php?s=&postid=81047#post81047

Anyone know where I can get these readings on the NYSE and NAS in realtime and preferably for free? besides the CNBC streamer
Is there a symbol for TRIN and TICK on InteractiveBrokers?
http://www.elitetrader.com/vb/showthread.php?s=&postid=82226#post82226

Is it true that the IRS doesn't get any information whatsoever from the broker about our option trades? As a result, the IRS has no information to compare our reported trades with?
Then how does the IRS know if we are over or under reporting our capital gains from options (other than indirectly thru interest reported in bank accounts)?
http://www.elitetrader.com/vb/showthread.php?s=&postid=160677#post160677
More...

Digging up posts that are over 7 years old to flame someone speaks volumes especially from someone that wasn't out of high school 7 years ago.
 
Quote from sekyst1974:

...He cant explain what he does without you being there with him...
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If that is so, then this thread has limited value, wouldn't you say?

Nevertheless, and since he does not follow a defined strategy of any kind by his own admission, if he cited specific examples, preferably in real time if possible, then it would go a long way in adding some meat to this thread. Wouldn't you say?
 
Quote from MandelbrotSet:

...Q1. Refers to futures ... a completely different (and frustrating) game when compared to trading stocks, or even options...
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Speaking only for myself and entirely outside the context of this thread, I would think options are more frustrating than futures because they have more moving parts.
 
Wow. Show me where I said these quotes "prove" anything or where in this post I flamed anyone.

All I said was, it surprises me that someone who says they'd been trading full time for 3+ years at this point would write posts like this. And it does. That's a fact.

If you think differently, good for you but frankly they look more like newbie posts to me.... especially when taken with his other posts at the time.
Quote from Trader666:

Hmmmm... then you'd been trading professionally (as your sole profession and source of income) for 3+ years at the time you wrote these? Never would have guessed...

I've already browed the CME website looking for a quick summary of e-minis, but theres a lot of chaef there.
Can anyone describe in brief what they are, and the difference to options?
http://www.elitetrader.com/vb/showthread.php?s=&postid=81047#post81047

Anyone know where I can get these readings on the NYSE and NAS in realtime and preferably for free? besides the CNBC streamer
Is there a symbol for TRIN and TICK on InteractiveBrokers?
http://www.elitetrader.com/vb/showthread.php?s=&postid=82226#post82226

Is it true that the IRS doesn't get any information whatsoever from the broker about our option trades? As a result, the IRS has no information to compare our reported trades with?
Then how does the IRS know if we are over or under reporting our capital gains from options (other than indirectly thru interest reported in bank accounts)?
http://www.elitetrader.com/vb/showthread.php?s=&postid=160677#post160677
More...
 
I will post my current market situation just as an example.

NQ is currently 1625. I sold NQ 1490 and 1510 puts a few weeks earlier when NQ was trading around 1580. Those are about 40% of the maximum size I would prefer to take because at the time I thought the market could probe lower. I actually wanted to go 20% of size but put premiums are higher thus reward was higher so I initiated 40%. As NQ climbed to 1620 earlier, I reduced back to 20% because I was uncomfortable with the higher 40% size, and could always reload if the situation warranted. It was a good closed profit though I forego some premium.

I shorted NQ 1660 calls this week at the same time when NQ was around NQ 1620. It was 20% of my desired maximum size and even that I considered high given the momentum is so surprisingly strong in this market and 40 points away is not much, but I already some puts to offset some risk.

During this time, I am thinking that the market is overextended and can see sharp brief pullbacks, but I tend to believe that momentum usually persists much longer than anyone can anticipate.

So, overall my account is sized around 20% because to me the market seems strong but complacent, and complacent to me equals risk.

I anticipate that there is a good chance I will be hedging this month as NQ may cross 1660. I will evaluate market behaviour at that point. Also, while my puts are far OTM, I monitor them by deciding whether what premium is left is worth holding depending on market action. Currently, I am holding them because the market is sticky to the upside and the large amount the market would have to drop for the puts to be ITM makes it a low probability at the moment.
 
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