Trading Long Straddles

[Goalgetter]

Wonder if any of the experts here would recommend a first class
option page (or 2) for trading underlyings like FXE - QQQ - GLD etc.

- The only one I know is Yahoo/finance. -

Thanks for taking your time!

GG.

 

[Goalgetter]

Wonder if any of the experts here would recommend a first class
option page (or 2) for trading underlyings like FXE - QQQ - GLD etc.

- The only one I know is Yahoo/finance. -

Thanks for taking your time!

GG.

 

[falconview]

Goal Getter

I trade QQQ and the OEX. Which are indexes and I use
free BIG CHARTS and free freestockcharts.com

Big charts is delayed and freestockcharts gives assumed data, for that 15 min. delay required by the exchanges.

At the level of buying trigger signals I use freestockcharts.com and for figuring where I am in the market I use BIG CHARTS.

 

[Goalgetter]

Quote from falconview:

Goal Getter

I trade QQQ and the OEX. Which are indexes and I use
free BIG CHARTS and free freestockcharts.com

Big charts is delayed and freestockcharts gives assumed data, for that 15 min. delay required by the exchanges.

At the level of buying trigger signals I use freestockcharts.com and for figuring where I am in the market I use BIG CHARTS.

Thanks for your help.

I'll be on those pages right away - great help.

 

[kinggyppo]

Quote from Goalgetter:

Wonder if any of the experts here would recommend a first class
option page (or 2) for trading underlyings like FXE - QQQ - GLD etc.

- The only one I know is Yahoo/finance. -

Thanks for taking your time!

GG.

You may want to get a demo of Think or Swim platform and go thru the basic tutorials. This walk you thru the basics. Don' spend 2 grand on a seminar which shows you how to flip a coin. Good luck.

 

[Goalgetter]

Quote from kinggyppo:

You may want to get a demo of Think or Swim platform and go thru the basic tutorials. This walk you thru the basics. Don' spend 2 grand on a seminar which shows you how to flip a coin. Good luck.

gyppo thank - good idea. I'll have a look later on.

However, I'm more interested in pages which list options of all kinds
with all the details needed - no trading advice.

 

[kinggyppo]

Quote from Goalgetter:

gyppo thank - good idea. I'll have a look later on.

However, I'm more interested in pages which list options of all kinds
with all the details needed - no trading advice.

k......

 

[taowave]

You are going about this all wrong.Pardon me if someone else has brought this up,But do you have a method/system for trading the underlying?

Do you have a distribution of those returns?

Unless you are a very experienced option trader,you dont stand a chance with your current method.

What I would do is backtest/simulate your startegy and look at the distribution of your returns.MAE,MFE,average return,drawdown etc.Then see if implementing options make sense vs trading the underlying.

Heres a simple stupid example.Say you trade a MA strategy with no stops or exits.You see that your return is ZERO.But you see that half your trades were up 50%,and half your trades were down 50%.Would you trade options or the undelying in that scenario?

Depending on your answer,you than can decide the optimal option position.You may want to download Option Oracle which is an excellent Option program and can perform simulations..And its FREE

Quote from falconview:

Having failed at credit spread trading, Gap trading and straight buying of options. I´m now trying LONG STRADDLES in options. Got one week in it now, but probably run through the month. Any body got any advice on making money with lONG STRADDLES?

 

[kinggyppo]

Quote from taowave:

You are going about this all wrong.Pardon me if someone else has brought this up,But do you have a method/system for trading the underlying?

Do you have a distribution of those returns?

Unless you are a very experienced option trader,you dont stand a chance with your current method.

What I would do is backtest/simulate your startegy and look at the distribution of your returns.MAE,MFE,average return,drawdown etc.Then see if implementing options make sense vs trading the underlying.

Heres a simple stupid example.Say you trade a MA strategy with no stops or exits.You see that your return is ZERO.But you see that half your trades were up 50%,and half your trades were down 50%.Would you trade options or the undelying in that scenario?

Depending on your answer,you than can decide the optimal option position.You may want to download Option Oracle which is an excellent Option program and can perform simulations..And its FREE

We went thru all this before, people want the mkt to be an atm machine. I know I do, the mkt is rude that way. The op is perversely undercapitalized, basically he was told that being long straddles was not an edge unless vega increased and/or vol exploded. He had a winning trade at some point doing this.
He's a nice guy and several people including myself tried to help.
Maybe its not to late for the op to get a chunk of Getco.

 

[falconview]

Luv u too!