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No Ordinary Duck
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Bill Stacy?
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wayneL
VIVA LA LIBERTAD, CARAJO!
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Probably because of our friend and pillar of society (as he would have us believe), Bill Stacy and hi association with the likes of Jamie McIntyre et al. The servers might be picking up on this context?
wayneL
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Bill,
So as we all knew anyway, you stress that you're a "daytrader", despite the odd overnight misadventure:
Why on earth would you use the least efficient vehicle for daytrading? Furthermore, why on earth would you teach others to use the least efficient vehicle for daytrading?
So as we all knew anyway, you stress that you're a "daytrader", despite the odd overnight misadventure:
Why on earth would you use the least efficient vehicle for daytrading? Furthermore, why on earth would you teach others to use the least efficient vehicle for daytrading?
Trembling Hand
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nulla nulla
Positive Expectancy
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You'd think they would be smart enough to link to some pr0n adds. Totally wrong demographic for this lot.
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Probably because of our friend and pillar of society (as he would have us believe), Bill Stacy and hi association with the likes of Jamie McIntyre et al. The servers might be picking up on this context?
I have never held myself up to be a pillar of society. Just a normal bloke.
That's just your opinion. It works for me and it's what I use. It's the best I knew. That 6.5k loss you pointed to was a very large trade and should be taken in context. You can't just take that and say "see how much he loses?" that is wrong and misleading and self serving. I wish I knew a better way to give people a way to make a couple of grand a week or more from home. If I did I'd use it! In fact I tried (with IM) but so far nothing I have seen has the power of this but when I find it I'll be suggesting it in a snap.
I bet we don't get an answer backed by fact. Just a "it works for me"
That's not a smart or clever comment, that's obvious. Of COURSE I'm going to say that. It's the truth. What else would I say? You're prefer that I lie? How ordinary. The fact is that it does work for me, has done for years and yes sometimes the market does crazy things (that's the risk part!). It's what I figured out to do, did it for years and then started teaching it to others who despite my high risk alerts and warnings wanted to learn it. These are grown people with brains and the capacity to make their own decisions.
I think you need to give people a bit of credit and not be so patronising and if there's a more efficient way to make a few grand a week (even just a couple of grand a week would be fine) then I'm all ears. Risking just a few hundred dollars to make a few dollars just for laughs is not doing the job. If you can show me a way to make a good $2,000 a week or more doing something with less risk I would love to hear it and I will teach that.
Listen, I can't understand why you all want to make me out to be such a demon. Is it your hobby? is it that it's something that no one else teaches? Is it that you can't understand how I do it? Why do you want to "kill" me so badly?
I saw people "hoping" to make a couple of grand a week and risking hundreds of thousands of dollars to do it willingly (selling covered calls...etc) and they lost dozens and dozens of thousands of dollars and more in come cases. I say "put 90% of it in the bank and use just a tiny fraction to try this". I don't force it down people's throats or claim to know better then everyone in the world (like some). It is what it is. yes, it works for me and works for others and stops them losing hundreds of thousands of dollars like I've sadly seen too many times. My method was a vast improvement on that and I'm proud. No amount of twisting the facts or my words or trying to predict what I'm going to say will change that.
I tell you what I was lacking though and that was I could probably have been a bit better at TA so I could be in the market less or avoid some of those hits or trade with less money and I was always trying to learn more about that. What I was using 20k to do could probably be done just as well with 10k and with really good TA could probably be done with only 5k. In fact some days I did only use 5k and still made 5-10% two or three times a week which is more than enough to make $1,000+.
If you guys are all so smart and really actually cared about the general public you should be saying "Bill, you may be onto something here but your TA needs a polish, Let us show you how you can improve your method". I know there is more than enough action and movement in the market to make a decent (multi thousand dollar) weekly wage from just risking $5,000 (which are MORE than happy to do). That is my only real regret is that I could not (as you say) make it more efficient. I hate leverage (eminins and CFDs) and would prefer to just risk hard cash without any lending. If anyone wants to be serious here show me how to make this better.
I have the killer spreadsheets that tell you how much you're making at any given option price so use your vast amounts of knowledge and help us instead of trying to just kill me, my business and the hopes and dreams of thousands. I would be more than happy to share the profits with anyone who can sharpen my aim. Somehow I don't think anyone will stand forward and say "I'll help - let's do this!" I hope I'm wrong.
wayneL
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Dear Lord! Where do I start?
Perhaps I'll just cut to the chase:
This is the whole point, you are not onto anything apart from sucking noobs into an expensive, but essentially worthless course. By your own admission, you don't have anything to offer in terms of a method or analysis.
LMAO.... ROTFLMAO.... AHAHHAHA!
You hate leverage but use a leveraged product... and using that leverage massively? A leveraged product that delta for delta has the greatest contest risk by freaking miles?
Good God man, give yourself a slap in the ear and wake the &^%& up.
You may have a defined absolute risk with long options, but in the context of day trading, this is irrelevant and you are paying up for it.
Well that's me for a few days. I'm off to Auckland to look at a property and catch up with some colleagues.
Thanks for the amusement.
Perhaps I'll just cut to the chase:
This is the whole point, you are not onto anything apart from sucking noobs into an expensive, but essentially worthless course. By your own admission, you don't have anything to offer in terms of a method or analysis.
LMAO.... ROTFLMAO.... AHAHHAHA!
You hate leverage but use a leveraged product... and using that leverage massively? A leveraged product that delta for delta has the greatest contest risk by freaking miles?
Good God man, give yourself a slap in the ear and wake the &^%& up.
You may have a defined absolute risk with long options, but in the context of day trading, this is irrelevant and you are paying up for it.
Well that's me for a few days. I'm off to Auckland to look at a property and catch up with some colleagues.
Thanks for the amusement.
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Something's sure gettin' polished but it ain't your TA.
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By leverage I meant "borrowing money". The rest of your response was pretty much what I expected. I didn't say I have NO method or analytics to offer. I offer a lot but at least I'm man enough to admit where things can be improved. Not like you the almighty perfect trader who's fine tearing people down but all you can do is make up facts to suit your own empty arguments. What a pityful display. You have nothing to offer but your own twisted way of mutilating anything you don't understand (I bet you enjoy killing small animals too) and twisting words around to suit your own agenda which is clearly to appear like a big man who knows it all when by reading your own posts you know very little about the realities of day trading options which you've obviously never even looked into. So best you stop embarrasing yourself because you are looking weaker and weaker by the post. I feel sorry for small tiny insignificant people like you who like to pick and chose words to suit yourself. Go and play with your property nightmare because you clearly have nothing of value to offer here.
McHater, you'd know all about that wouldn't you? You're clearly a pro.
McHater, you'd know all about that wouldn't you? You're clearly a pro.
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Sad little boy. Is the only contribution you can make here an "expert's" discussion on masturbation? **** off or grow up and contribute you sad little fool.
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Winding you up is like shelling peas. And from what I can see, you're flat out counting past ten, so I figure at least masturbation jokes won't fly over your head...
But anyway, I'll leave you to it Mr 10%.
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You really do have a bizarre fascination with the subject but I thank you for your "valuable" contribution to this discussion. Wouldn't expect anything less from gutless weeds, warts and boils who hide behind nameless avatars.
Trembling Hand
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Err mate. You are "borrowing" when trading options. You buy/sell 1 option and borrow the outcome of 1000 shares from a counter party.
You are borrowing something, in this case equities which have a monetary value, from someone else.
Ok Ok. Then can me please just get to the actual machanics of what you do?
Can you give us a detailed example of an options day trade? PLEASE??
I don't care if its hindsight, one you took or one you wished you did or whatever but something like this.
BHP opened yesterday @ 36.27 and quickly fell to $36.10 then it started to bounce and my system gave/would of gave a buy signal at $36.22. I bought/would of bought option Call XYZ @ and sold @ when BHP got to $36.42.
FFS please!! Do an example and show us why daytrading options is the way.
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Sure, I thought I already had earlier on in this epic thread but I have attached some images for you to look at.
As far as borrowing is concerned, no, you're not borrowing when you buy an option. You're simply buying an option which is just a thing that has value (for whatever reason - I don't care). I take my real cash which I have saved up and instead of buying a rusty Commodore or Falcon or Mazda, a holiday or try to start a small business (all of which can lead to massive almost guaranteed losses anyway), I buy something that has value (in this case an option) and then sell it that day. Simple, straightforward transaction. There is no "borrowing" (in the normal sense of the word) and my cash is in the bank every night. Most big losses I have suffered have been from leaving options in the market overnight so I hate doing that now - though I might do it with my profits on occasion though mostly I regret it.
I have hundreds of examples, some live actual trades on video (Only $1,000 profit but it was in 4 minutes and could have been more if I'd moved earlier which is why I'm asking for more TA help!) and heaps of (real) screen shots I've used over the years to show and teach others and of course years of experience (since 2004) doing it. I'm 100% sure that even if I post screen shots the trolls will claim I've doctored them or they'll have some other stupid comment (I've heard them all before) but if you are serious about wanting to know I don't mind posting them up. Not sure what the rules are around here but I'm sure I'll be accused of self promotion or be attacked in some other way (from experience). I would have to estimate I've done this hundreds of times a year.
Most days I'll trade once, take a grand or two and then relax and get on with my life. Other days I've done multiple trades. Some days I'll take a small loss and quit and others I'll take the maximum loss I allow myself and feel **** for days - I'm human and prone to mistakes just like everyone else. I have never claimed to be a guru or expert, I just do what I do and show others if they insist. In a usual week I will make some and lose some but usually come out in front (if I stick to my own rules and don't experiment). I've studied American day traders and adapted some of their moving averages and candle sizes to suit our market. It took me a while to settle in but I haven't changed my MAs or candle sizes for years now.
The process is as simple as buying anything. All I have to do is look at a stock (I use top20), notice a pattern (all the usual patterns you guys know will apply), if I see it's "on the move" I'll look at the at the money (or there abouts) option for the current or next month, buy it and sell it a few cents later usually for a 5-10% profit on my original cash investment. I do this 2, 3 up to 6 or 10 times a week. Usually 2 or 3. How much I'm willing to risk is up to me. The big argument I get from guys like you all is that I'm risking too much money and I could lose it all at once.
I've never lost it all at once and usually have a 10% stop loss with a 15% maximum loss. Very rarely will an option move faster than I can get out but it can happen and that is the general market risk I suppose. If I take any more of a loss than that I'm slacking off. I have made bigger losses (usually in the early days) but my spreadsheet (with macros) tells me my exact profit and loss (after fees and taxes) for every cent of option move so unless I let the trade run without monitoring it (which is not advised) I can sell out for a reasonable profit or loss.
One look at the price of options on any day on the top 10 (or 20) and you will see options moving from 80c to 90c or 110c or even more. All I need is 5-10% (to compete with going to work in a factory) and I'm very happy. 60-66, 70-77, 80-88, 200-220, these moves happen all day and every day. Any day I make a few hundred dollars is a great day and if I make over a grand I'm stunned, always have been and expect always will be.
I use a moving average which I've tuned to suit what most stocks move and a short multi minute candle and a special chart that only WebIRESS has to watch the stock and you will be surprised how predictable and how much they move almost every day.
Obviously there are unpredictable turn arounds but all I need is one bad candle and I'm out. I've doubled money, I've halved money but for the most part I just take a lazy 5-10%. At first, I couldn't believe it could be so easy and that I must be missing something. But then I just saw the options moving as regular as clockwork day in and day out and I calculated how many I'd have to to buy to make use of the average reasonably predictable move and slowly I started to see patterns and worked out how to trade them.
What do you want to see? I have real trades I did, screen shots of potentials, movies of real trades and losses. I have exits comparing my MA against fibs, anything you want. But I can predict the response. There will be the usual dunderheads who think they can do better and to that I say "great! - do better" this works for me, it's teachable and regular and keeps me out of work. It may not be perfect but it is what it is. Interesting that when I asked for TA experts to lend a hand everyone ran away but the offer still stands.
I have attached a perfect example of how to make money and how my entry "could have been" earlier but even with my late entry (I don't like trading before 11am) this is still a $3,000 day trade. I have shots of perfect days and crappy (untradeable) days and small profits and massive profits. I have attached a perfect dead-easy ANZ day trading opportunity on Christmas eve which is a day that nearly everyone believes is useless for trading. Almost every Christmas eve I've traded has presented excellent and simple trading opportunities.
You might say (and I've heard it dozens of times) that I'm risking 100% of my bank which is a no-no but that's not always true. This method is for people who don't mind risking $5,000, $10,000 or even $20,000 because they can compare it to "just spending it" or risking it in a normal (bound to fail) small business but in actual fact this was originally aimed at people who had 100k or more to trade with and were happy to take a good "wage" of a grand or two a week.
I would ask them to consider leaving 90% of it in safe in the bank and only risking 10k on day trading and only be willing to lose 15% of that (maximum - prefer 10% loss). 10% loss on 10k is only 1k lost from the 100k they were really going to risk (selling spreads or buying stocks to gain a measly 10% a year (if lucky!)) so in fact they only lose 1% (of their initial 100k) which is bearable. The cost is that they would have to "attend" the day trade and sit there watching while the trade goes ahead which doesn't suit everyone.
Obviously borrowing $10k on a credit card and putting it all on a day trade is not advisable or smart but who am I to tell people to just stay in their disgusting factory jobs and never have any hope of a better life? If it's between buying a crappy second hand car for $10k or placing it on the market and making a possible gain by active trading, one is a certain loss and the other is a possible gain. In my world that's a no brainer.
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Trembling Hand
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So bill here is the point. from that first pic it looks like you entered a trade when ANZ was @ $12.95ish and went to $13.25 where you exited? gaining a profit of 12.5 cents in the option (95-82.5 = $0.125)?
Is that right? Your method correctly picked a 30 cents move in ANZ and you gained 12.5 cents?
Is that right? Your method correctly picked a 30 cents move in ANZ and you gained 12.5 cents?
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Yep. x 1000 (shares per contract) = ($125 per contract) x number of contracts (around 24 or 20k) = around $3,000 profit.
These days option contracts are obviously 100 but it still works out the same. That trade was back in '09.
Trembling Hand
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yep you truly have no friggin idea what you are doing.
Ignoring the BS about MA trading signals. Especially on WebIress because their charts are ony 1 day snap shot. I don't want to get in a fight about the expectancy of a MA cross system. There is too much in the above example to laugh at first.
So your position was. 27 X 1000 (options X shares per option) = 27,000 ANZ shares.
Your profit, (we will get back to brokerage + spread lata)
$0.125 X 27,000 = $3375
What you would do if you had 1/2 a brain would of been to by 27000 ANZ shares.
$0.30 X 27,000 = $8100 profit.
You nutbag!! That is why options are sh!te for daytrading and why what your are teaching is dangerous . Same amount of exposure, 27,000 shares, Less than half the profit!! Plus increased amount of cost (brokerage + spread)
Trembling Hand
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To add further. Have you thought about the dude who was on the other side of your trade?????????????????????? The market maker?
She sells you a call of 27000 ANZ shares. So she is now short via an option. So to hedge he goes long 27000 ANZ. She is now neutral and you carry all the risk of the trade.
ANZ raises $0.30 so you sell back to her the oppy. She then closes her long.
You made 12.5 cents from the oppy trade and took all the risk.
She made 30 cents from the ANZ trade lost 12.5 cents from the oppy trade. She made 17.5 cents and took no risk.
LOL see my signature below :sheep:
She sells you a call of 27000 ANZ shares. So she is now short via an option. So to hedge he goes long 27000 ANZ. She is now neutral and you carry all the risk of the trade.
ANZ raises $0.30 so you sell back to her the oppy. She then closes her long.
You made 12.5 cents from the oppy trade and took all the risk.
She made 30 cents from the ANZ trade lost 12.5 cents from the oppy trade. She made 17.5 cents and took no risk.
LOL see my signature below :sheep:
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