What have you learned from "Why Is The Obvious Not So Obvious?"?

O

OddTrader

http://www.elitetrader.com/et/index...us-not-so-obvious.151802/page-87#post-2395728
nysestocks said:
In fairness, you can trade any market once you know the "obvious"!

Ding dong:D

Let the market open before ANF puts are sold - just a comment of course, already down 0.39 - quote 0.55 x .65 - last 0.60

Do not sell puts unless you have money:eek:

Hitting the 0.55 bid - let's see how much I can lose on this trade:eek:

Must run - papertrade only!
More...

I wonder whether selling options is a good idea! No wonder he's now gone!
 
Without a plan, they're also a good way to go broke.

A great many beginners turn to options, and recently forex, because they all seem so cheap. But without viable trading plans, these beginners learn quickly that these "cheap" instruments are not quite as cheap as they appear to be.
 
OddTrader said:
http://www.elitetrader.com/et/index...us-not-so-obvious.151802/page-87#post-2395728


I wonder whether selling options is a good idea! No wonder he's now gone!
More...

It all depends how much experience you have in that field, and you ability to understand price movement and how the option price will move in relation to the underlying price.

It might be more accurate to say something like so.

I wonder what options are the best ones to sell, and how much it will cost me to find out if I can make my target % return on the trade.

No disrespect, but general statements are common and only with experience does understanding arrive.

J_S
 
My ability to write short poems has improved ever so slightly, I'd say.
They're not fantastic, but they're better than they were prior to reading the thread.
 
Brianharvey said:
My ability to write short poems has improved ever so slightly, I'd say.
They're not fantastic, but they're better than they were prior to reading the thread.
More...
I looked up for one of these poems and found this.

This is my interpretation of the following poem.

to see the sky..open your eye (look at the chart)
now tilt your head..as in the bed (look differently)
what do you see..what can it be (what do I see)
so wide a space..and yet no trace (do not see anything yet)

but wait a sec..what is that spec (there is something there)
so far away..more than a day (in the past)
to make it out..i need not shout (it is sticking out)
but help it be..i need to see (it is standing out)

what can it be..i need to see (what does it mean)
a glass or two..shaped like a shoe (a pattern)
what if i lay..down in the hay (back to the start)
just close my eye..and think of sky (think again)

i see afar..the spec ajar (compare)
i stare so still..it now like pill (present)
i now see black..that kicks me back (past)
as clear as glass.. GET OFF YOUR ASS:D (action required)

Obvious?

J_S
 
1) trading is gambling (I always treated it as something different)
2) most of everything out there is utter garbage (I've tried a lot of it over the years)
3) trying to score big wins often ends badly (I lost most of my capital in the past few years risking way too much and chasing losses)
4) I was an idiot, and even worse than the average idiot!
5) the obvious was not so obvious to me

I've definitely learned a painful lesson, and the failure still hurts. I don't know if I'll ever trade again but, if I do, I'll try not to be a f..king idiot.
 
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