# Option Traders: the good the bad & the ugly



## wayneL (16 March 2007)

Found this interesting and something I've talked about in disparate bits and pieces, all bundled up in one post. Hat tip to theoptionsjunky 



> This from Michael Catolico from TheOptionClub Yahoo group.
> 
> --------------------------------------------------------------------------
> The assumption is that any strategy followed over and over
> ...


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## Mofra (16 March 2007)

wayneL said:
			
		

> the final type of winner is what i would term an "ugly" trader. this is
> the kind of person that somehow manages to always and consistently find
> a way to make money. regardless of market direction, regardless of
> volatility, regardless of liquidity, etc. they are usually huge students
> ...




I found this paragraph extremely interesting, in the context of reading many posts by Wayne, Sails, Duc, Mag etc on trade management & strategy selection depending on the set-ups. 

I expect the dynamics of options trading is a major attraction in that merely "direction picking" appears to be a mere assumption of risk by the trader, without the flexibility of risk manipulation to change the odds (or "expectancy" in trader land). Personally I use more low profit ratio/high degree of success type set-ups, as without constant market monitoring these are the trades that suit my lifestyle & current situation.

Very interesting reading


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## money tree (23 March 2007)




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## Glenhaven (29 March 2007)

I mostly trade equity options and I have a few rules, one of which is "never sell an uncovered call". The risk of a major loss is just not worth it in my view.


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