SPX Credit Spread Trader

[andysmith]

Ignore button, spuds...

Quote from nlslax:

Congrats on your 500th post.
Hopefully the next 500 will offer a little more substance.

 

[andysmith]

Still trading your lunch money? Did you beef up on SET yet?

Quote from nlslax:

I forgot to add that my best results were when I started the trade ~ 6 weeks out and closed it a before expiration.

Been doin more calenders lately.

 

[rallymode]

Quote from momoneythansens:

Easy tiger!


Phil makes money month after month. If others fail to replicate his success it is due to greed or trading something they don't understand. So be it! Free will is at play here.

momoney,

i completely agree with you. That's the whole point i am trying to make but perhaps i will not express my negativity next time. It's their money to lose.

 

[andysmith]

Not at all meant to be mean spirited. I asked myself the same question from time to time as a reality check...

Quote from codyhopkins:

Such a mean spirited inappropriate posting. You know nothing about this person or anyone else posting on here. Each person needs to make their own decisions. She posted her trades looking for some education and possibly trying to help others by sharing her experience.
Maybe you should check your filter and make sure it works. People do not need someone piling on after a bad month, a little encouragement, yes, nasty comments, NO!

 

[ryank]

Quote from andysmith:

ryank, I've been giving near-the-money a try and have found that I can make a lot more $, a lot faster IF I'm right on the direction. In other words, they seem to be more directional trades than market neutral, premium collection (theta decay) trades. The problem (for me) is that they require much more vigilance...

They are much less the "set it and forget it" type of trade than FOTM. But as you mentioned, the upside is the when you are right you can take a good profit quickly.

 

[ryank]

Quote from andysmith:

If you're going NTM, forget paper trading... it just ain't the real thing since you mask your own worst enemy... yourself under pressure.

I'm paper trading for a little bit so I can practice adjustments and see how the position reacts to the various moves in the market. I might do what Coach does and put on a small position with real money to up the pressure a bit.

 

[MTE]

Quote from ryank:

They are much less the "set it and forget it" type of trade than FOTM. But as you mentioned, the upside is the when you are right you can take a good profit quickly.

That's kinda logical, don't ya think!? Of course you can make more money quicker if you a good direction picker.

 

[andysmith]

You don't like my posts but you probably read each one three or four times, don't you? Now that's just plain bipolar! Looking forward to irritating you in the next 500, spuds.

Quote from nlslax:

Well said.

Based on his previous 500 posts, he should spend more time asking for advice than giving it.

 

[rallymode]

What all successful traders have in common is they get paid = or > for the risk that they take. I guarantee you that a beginner will not be able to adjust/hedge a low r/r strategy the way they should to get compensated properly for that risk. Hence, their money is better suited with high r/r trades/strategies.

But no one listens to me so try it out yourself.

 

[codyhopkins]

Quote from andysmith:

Not at all meant to be mean spirited. I asked myself the same question from time to time as a reality check...

I am sure that we all ask ourselves that question after a particuliarly bad month. But, the reason this thread\journal has worked so well is because most of the posters here support each other in good and bad trades. Offering encouragement and education is helpful and useful. People will not post there bad trades if the response is "maybe you should not trade." I do not think it helps the original poster, nor does it offer insight into stratagies. I have yet to see Coach post anything like that!