Why Is The Obvious Not So Obvious?

[MrScalper]

OK, I will keep working on reading the AAPL chart.

Your points are very valid. When I first joint ET and asked for help, someone here coached me to lengthen my time of expiry and it worked better, just like you said, easier when one trades duration. It takes real skill to day trade and day trade options and I have lots to learn.

Regards,

There is one rule of thumb for options..you double your anticipated time horizon for price movements..so if you think price of underlying will travel certain amount in 2 weeks..then you pick strikes that are 4 weeks out.

As you know..buying options for buy and hold is very hard to do effectively..the odds are with the sellers of OTM options..as around 80% of exchange traded options expire worthless.

However, naked put or call selling is a dangerous game..so it is always better to buy some protection..as with options it always better to be safe..than sorry!

 

[ironchef]

There is one rule of thumb for options..you double your anticipated time horizon for price movements..so if you think price of underlying will travel certain amount in 2 weeks..then you pick strikes that are 4 weeks out.

As you know..buying options for buy and hold is very hard to do effectively..the odds are with the sellers of OTM options..as around 80% of exchange traded options expire worthless.

However, naked put or call selling is a dangerous game..so it is always better to buy some protection..as with options it always better to be safe..than sorry!

Thanks. drcha said something similar to me, not quite as specific though.

 

[Pelt]

...
So, has anyone given any thought to what could be done with a bar that is harder to do with a candle?

 

[MrScalper]

That is actually quite good..it clearly shows why bars can be better than candles!

 

[MrScalper]

Thanks. drcha said something similar to me, not quite as specific though.

What one should always keep in mind is that most people talk out their asres..full stop

My statement was brought to my attention by a very clever man..who clearly stated that the majority of it is bullshit..with the main focus on "high volume turnover"..which led to the myriad of financial derivatives that you see today!

Trading is a mugs' game..but only if you are a mug

I am sure you have heard of the famous saying.."if only I knew then, what I now know". I am no different..it took me years of time wasting and foolish thinking..until I eventually woke up and said to myself.."fuck this for a game of cowboys"!

You must realize that 99.99% of people really haven't a clue..and they don't even realize it themselves I was told this years ago by a person who made money selling a futures trading course to gullible people..and after spending a good deal of time conversing with him in relation to trading, he hadn't a clue himself

So, Mr ironchef, you have seen the light in relation to risking too much..you are one of the lucky ones..but you still have a long way to go from reading your posts. The main thing that stands out now is that you are over-trading..and you do not even know it!!!

Never be in a hurry to lose money..and one of the fastest ways to lose money trading is by over-trading..and that I have first hand experience with!

So..maybe you ask..why does MrScalper try to help me..well..when you get there you will know why..because it helps you to reinforce your way of thinking in relation to what you must do in order to make money trading, and hold on to it..as..it is not as easy as most think..and..the hardest part is the psychological bit..the act of trading is actually the easy bit once you see it for what it really is..a big fucking game

Do not expect an easy journey to big money..there is no such thing..no matter what any fool tries to tell you otherwise!!!!!!!!!!

 

[MrScalper]

AAPL Intraday

Apple Inc. Jul 14 2017 144.00 Call(@AAPL 170714C00144000)

Apple Inc. Jul 28 2017 144.00 Call(@AAPL 170728C00144000)

Apple Inc. Jul 14 2017 144.00 Put(@AAPL 170714P00144000)

Apple Inc. Jul 28 2017 144.00 Put(@AAPL 170728P00144000)

 

[ironchef]

What one should always keep in mind is that most people talk out their asres..full stop

My statement was brought to my attention by a very clever man..who clearly stated that the majority of it is bullshit..with the main focus on "high volume turnover"..which led to the myriad of financial derivatives that you see today!

Trading is a mugs' game..but only if you are a mug

I am sure you have heard of the famous saying.."if only I knew then, what I now know". I am no different..it took me years of time wasting and foolish thinking..until I eventually woke up and said to myself.."fuck this for a game of cowboys"!

You must realize that 99.99% of people really haven't a clue..and they don't even realize it themselves I was told this years ago by a person who made money selling a futures trading course to gullible people..and after spending a good deal of time conversing with him in relation to trading, he hadn't a clue himself

So, Mr ironchef, you have seen the light in relation to risking too much..you are one of the lucky ones..but you still have a long way to go from reading your posts. The main thing that stands out now is that you are over-trading..and you do not even know it!!!

Never be in a hurry to lose money..and one of the fastest ways to lose money trading is by over-trading..and that I have first hand experience with!

So..maybe you ask..why does MrScalper try to help me..well..when you get there you will know why..because it helps you to reinforce your way of thinking in relation to what you must do in order to make money trading, and hold on to it..as..it is not as easy as most think..and..the hardest part is the psychological bit..the act of trading is actually the easy bit once you see it for what it really is..a big fucking game

Do not expect an easy journey to big money..there is no such thing..no matter what any fool tries to tell you otherwise!!!!!!!!!!

View attachment 175353

View attachment 175354

Thanks.

I don't know how good a trader drcha is but drcha's suggestion was what turned a light bulb on in my head and improved my option trading results. So whether they are good traders is actually not as important as how useful their suggestion can be to me.

However, there reached a point I need better method to further improve and in this regard, you are very helpful.

Regards,

 

[ironchef]

AAPL Intraday

Apple Inc. Jul 14 2017 144.00 Call(@AAPL 170714C00144000)

Apple Inc. Jul 28 2017 144.00 Call(@AAPL 170728C00144000)

Apple Inc. Jul 14 2017 144.00 Put(@AAPL 170714P00144000)

Apple Inc. Jul 28 2017 144.00 Put(@AAPL 170728P00144000)

Back to training how to read charts.

Your points are well taken. I noticed when watching option prices in real time, for short expiration, the ATM calls tracked the underlying (but amplified). So, if I can day trade the underlying and make/lose money, I can day trade options and make/lose more money.

 

[MrScalper]

Thanks.

I don't know how good a trader drcha is but drcha's suggestion was what turned a light bulb on in my head and improved my option trading results. So whether they are good traders is actually not as important as how useful their suggestion can be to me.

However, there reached a point I need better method to further improve and in this regard, you are very helpful.

Regards,

I did not mean drcha..I meant in general..he or she might be one of the few that know what trading is really all about.. can't say as I did not read any of his/her posts?

As for ATM options..as long as you have plenty of liquidity the spreads will be tradeable.. avoid wide spread options as they are too risky..why take a chance

 

[MrScalper]

Mr ironchef..as you can see the AAPL charts I posted update automatically when page reloaded.. anything stand out for you?