Quote from gobar:
i am here to win
here is my paper trade
buy 10 aapl 300 feb PUT OPTIONS for 6.80
see you at 15.00
http://finance.yahoo.com/q/op?s=AAPL&k=300.000000
It looks like those put options traded last at .06 on February 11th.
why Wall Street traders win and you don't
- Thread starter garfangle
- Start date
http://finance.yahoo.com/q/op?s=AAPL&k=300.000000
It looks like those put options traded last at .06 on February 11th.
And anyone who buys a ticket can win Poweball, but few do. The odds are, like trading, dismal.Quote from Cheese:
Summary
Bottom line, the amateur can make himself or herself rich. An on-chart indicator, I suggest, will be needed as part of that process.
You write well, but narrative doesn't clearly support the conclusion.
First of all most of Wall Street is just shaving commissions in various formats, not actually "trading".
As for the advantage of the small percentage of actual traders there, it mostly boils down to risking LOANED money and having political clout to force bailouts of their bad bets. Political clout to gain inside information and manipulate dispersed data doesn't hurt either. Gee, I wonder how much money I could make with billions in zero interest money from the Fed and tens of billions in bailouts when I made a bad bet.
As for the advantage of the small percentage of actual traders there, it mostly boils down to risking LOANED money and having political clout to force bailouts of their bad bets. Political clout to gain inside information and manipulate dispersed data doesn't hurt either. Gee, I wonder how much money I could make with billions in zero interest money from the Fed and tens of billions in bailouts when I made a bad bet.
Don't forget the slippage.
I generally agree with the first post - the odds are much more against you as a sole trader, until you make it. However, there are offsetting benefits, if you like to be a sole operator. Freedom and autonomy have considerable value for some people.
Cheese has been around for a long time, a very long time. I would take his post and dissect it. Trading is not like powerball, you can make an educated guess which will prove right enuf of the time to provide a living.
Good words, please take them to heart.
In the end, there's really no need to worry about who's doing what.
Just go with the trend. How can you better that? And then you might even look down at those Wall Street traders you envy now. In fact, I know you will.
Just go with the trend. How can you better that? And then you might even look down at those Wall Street traders you envy now. In fact, I know you will.