Thankyou for the link diaoptions. I read quite a few familiar names on there.
I got the impression there was a 1000 ways to lose your money.
I liked the part about different styles, particularly the sideways traders, vs directional traders. Made me think a bit.
There was a comment about some friends of someone with big money trader friends. Of course, the only ones to me that matter really are people who are trading their own money, not other peoples money.
There is a big difference between someone well capitilized, able to trade naked options for instance, than the small undercapitalized retail trader who is forced to use spreads ( margin limitations ) at an extra cost, to achieve the same results.
I found the comments on IB and TOS account services interesting.
I'm now officially two years into this. I would have to say Babu, Atticus and Don, have been the most helpful on the forums. I think I'm of the opinion as a small trader and not likely to get over $250,000 to trade, I want to concentrate on a niche type of trading. I'm certainly leaning toward Atticus style of sideways market trading, selling premium. I want to pass this stuff, if I can ever make regular money at it, on to my children and grandchildren. ( five children living ) and about 14 grandchildren, already young adults ), one grandchild. Teach them something they can be independent with. So far, no luck. But I am certainly having a lot of fun, and as a hobby it is not too expensive yet. I like making good friends, in a new field too. I'm the sort who keeps real friends for life.
I've had sporadic short periods working for a salary in life, but mostly have been an entrepreneur. All my kids are millionaires in assets, if not in cash. So, something must be working right.
Interestingly enough, I was startled the other day, when a Chinese friend here, was telling me his woes about developing some New York real estate for rentals. Apparently he already has some, but I think that stuff comes from a CLAN of some kind, sort of like my own extended family relationships. Anyway, he said there was lots of money in China within his own clan, for new things in the outside world. He was lamenting about the 65% tax they pay over there, which they are trying to beat. He was listening about option trading. At the moment we are just swapping small amounts of currencies privately, for family enterprises operational needs, in different countries.
It is certainly an interesting world out there. Having fun is the name of the game though. I think I will start a new forum. For the next few months at least, I have my course of option trading action chosen. Now I need to see if I can improve that small account balance. That after all, is the bottom line and measure of success.
I'm playing with new thread forum title. How about "Tips, tricks of successful traders!"
