Trading Long Straddles

[sle]

Quote from DerivativesG:
LOL Do fill us in. What is your market?

Interest rate options (BFOs/STIRO/Swaptions/CurveOptions etc). I am glad you are laughing...

Quote from DerivativesG:
Because straddles on the underlying which I chose work if I give it 60-80 days.

JGBs, for example, don't even have anything liquid option-wise trading past the front month. So I get 30 days at most.

 

[sle]

Quote from DerivativesG:
I have a total experience of 16 years at not ONE single investment bank but also a very famous MM and a hedge fund

In general, you want to remember what your wrote a few years ago before yapping about your 16 years of experience. A single look at your previous posts shows that your first message here was:

Quote from DerivativesG, written on 03-27-07 11:32 AM:
Hi,
I am at the crossroads right now. I am 32 yr old female, living in Germany, have worked in investment banking and hedge funds in the operations/back office/middle office departments as an FX/Futures/Options operations/middle office execution clerk. From day one I always wanted to get into trading. This is actually why I started off in operations, I thought I can easily slip into a trading role. When I first started applying for trading positions, the feedback was that I did not have any experience in the field let alone trading. I had two great offers, one I turned down due to personal reasons (my dad was very sick and I had to be close to my parents) the second offer I turned down cause I heard through the grapevine company was going to close (it was Refco). Throughout I have traded here and there but did not file my broker statements. I did however have a trading plan and stuck religiously to my plan. There were times during the years when I could not trade for a while because of the compliance rules I had to adhere to due to my workplace. Anyway, after looking around for a trading job, and also being aware that many others are trying to get into such positions, I am thinking about going prop but this time around with a more disciplined approach i.e. doing appropiate archiving of all my documents and forming a track record. Any words from the wise on this board who have followed a similar path?
P.S. Do you guys think I should also still apply to local traders positions although I have no considerable experience and obviously I am not a 20 year old?

So what is it and what exactly do you trade right now?

 

[dunleggin]

Quote from DerivativesG:

LMAO. I trade this everyday and I got my excel sheet here showing my "delta" real time and you are telling me what to do?

I have a total experience of 16 years at not ONE single investment bank but also a very famous MM and a hedge fund, I have one guy
sitting across me who is one of the most talented traders who
has been interviewed by many newspapers and magazines and
he has agreed with me.

I mislead novice people? LOL. Anyone told you that you are hilarious? I think you are the one who is misleading people here. A real trader examines EVERY important variable from volatility to greeks.

You sound like you are out for a pissing contest.

sle = real deal. Obvious to anyone checking his historical posts.

DerivativesG, I think you're bluffing. It was the comment about delta hedging frequency that really gave it away.

Quote from falconview:

Implied Volatility

Well I am trading SPY. I do not usually consider volatility in SPY as it is rather staid in that sense.

Even though you're putting on a pure volatility trade?

Rather than follow the advice that you want or are hoping to hear, follow the advice to put in some groundwork first. Otherwise you're purely speculating, not trading.

 

[DerivativesG]

Quote from sle:

Interest rate options (BFOs/STIRO/Swaptions/CurveOptions etc). I am glad you are laughing...


JGBs, for example, don't even have anything liquid option-wise trading past the front month. So I get 30 days at most.

Well you made me laugh, what can I say?

 

[DerivativesG]

Quote from dunleggin:

sle = real deal. Obvious to anyone checking his historical posts.

DerivativesG, I think you're bluffing. It was the comment about delta hedging frequency that really gave it away.




Even though you're putting on a pure volatility trade?

Rather than follow the advice that you want or are hoping to hear, follow the advice to put in some groundwork first. Otherwise you're purely speculating, not trading.

LMAO. I don't have to prove anything to you. Don't believe me.
You think this strategy of not believing me will make me tell you all the details of my trading strategy?
And have a great day.

 

[DerivativesG]

Quote from sle:

In general, you want to remember what your wrote a few years ago before yapping about your 16 years of experience. A single look at your previous posts shows that your first message here was:



So what is it and what exactly do you trade right now?

Wow, I feel very special.
You actually went through all my posts to dig out more information about me.
Yes I posted that. And that same year I was offered a position at a hedge fund. I have traded for them ever since. So what exactly are you asking me?
I trade equity options.
Oh and in correct English you would say "you wrote" and not "your wrote".

 

[dunleggin]

Quote from DerivativesG:

You think this strategy of not believing me will make me tell you all the details of my trading strategy?

The puerility of that statement speaks volumes. I rest my case.

 

[DerivativesG]

Quote from dunleggin:

The puerility of that statement speaks volumes. I rest my case.

Ok, do that. And here is an old post from you.

Quote from dunleggin:

Mr Ross, it's more likely that you could receive an education in spread trading by reading the posts of experienced members on these boards

You are suggesting Joe Ross that one can receive an education in spread trading by simply reading a couple of threads. If you were a real trader, you would know that you can't learn by simply reading few threads. You have to put on many trades real time. This is how you learn to how to trade. Not by reading threads.

 

[dunleggin]

Quote from DerivativesG:

Ok, do that. And here is an old post from you.


You are suggesting Joe Ross that one can receive an education in spread trading by simply reading a couple of threads. If you were a real trader, you would know that you can't learn by simply reading few threads. You have to put on many trades real time. This is how you learn to how to trade. Not by reading threads.

Amusingly, you have read it literally, without understanding the context (trolling), and missing the nuanced sarcasm. (You presumably didn't check who Joe Ross is and what he does/did for a living?)

 

[DerivativesG]

Quote from dunleggin:

Amusingly, you have read it literally, without understanding the context (trolling), and missing the nuanced sarcasm. (You presumably didn't check who Joe Ross is and what he does/did for a living?)

You are really funny, you know that? I have checked and read other threads from you. I often read that you love calling other people trolls. Is it because you like to be a troll yourself? I know who Joe Ross is.