wayneL said:Genius is a bull market.
Stupidity is not realising it, but I'm sure you do.
... and arrogance is someone using cliche's to disguise their own true capacity
wayneL said:Genius is a bull market.
Stupidity is not realising it, but I'm sure you do.
wayneL said:I'll back my capacity against anyone like you any day.
Bring it on.
So far from you, only claims, let's see some substance.
wayneL said:I'll back my capacity against anyone like you any day.
Bring it on.
Funny you should say that ....
I do write covered calls (and naked puts) ... I DO make very good money from both ... and I am going on a 3 week trip to Europe next year!
Did you do the same course as me?
... you dont know me ... how can you make judgement.
ducati916 said:Prime
From your inital post, you in point of fact insinuate that you make profits substantial enough to pay for holidays to Europe. You may in point of fact be paying for the trip by working overtime, or, as you allude, via trading profits.
The fact of the matter is that unless a trading methodology is traded live, or thereabouts, no-one is the wiser. This forum is rife with hindsight trades etc.
Anyone can be profitable in hindsight. It means absolutely nothing.
Therefore, by elimination we can start to make an informed decision;
Viz. that you imply trading profits from trading substantial enough to pay for a trip to Europe...........and no history of live trades to substantiate that implication.
Add to that the rampant use of hindsight trading that is prevalent on many internet forums, increasingly so in Bull markets, that draws the johnny-come-lately experts, and any scepticism to your allusions can be understood in this context.
Ok, I stand corrected. I'll state it a little more clearly.
I do write covered calls (and naked puts) ... I DO make very good money from both ... and I am going on a 3 week trip to Europe next year which is in whole being paid for by my trading profits.
So ... every time I or anyone else make a comment on these forums we are expected to provide a complete trading history ... you've got to be joking.
... and why the double standards ... I dont see anyone else doing that ... and further more, this thread was about Trading Courses ... I was trying to inject a little humour ...
wanyeL made a comment that abrogated the possibility of making money from CCs from these courses. Lets see the trading historys that show good profits cant be made and perhaps we can analyse them to find out why the trades failed and then how to improve the system?
For the record, I have calculated my expectacy on CCs and NPs and it sits at +4.872 cents per US dollar traded ... when you factor in monthly turnover, brokers margin lending, thats a return on my capital of about 9% per month. I currently have about $114,000 over in the US. You do the maths and then divide the figure by 0.77 for the exchange rate and you'll get an idea of my monthly income from CCs and NPs.
... and to tar everyone with the same brush without knowing them is completely less than insightful and certainly not at all helpful to those interested in expanding their knowledge.
I've said it before in these forums ... I'm here to learn. What I do learn, I study, test and put into practice and make it work. I learn from other peoples mistakes and my mistakes and profit from them.
If people continue to drive new members away by treating them with such disdain and disrespect then this forum site is not going to last
Prime said:If people continue to drive new members away by treating them with such disdain and disrespect then this forum site is not going to last
ice said:Relax, you'll do yourself an injury.
An excellent forum this, even if much of it is over my head. I doubt it's going to fold anytime soon.
And anyway respect is a two-way street.
ice
ducati916 said:Prime
... particularly writing naked Puts, carries risk that is incommensurate with the reward earned...............and that further, these profits are easiest to come by in a bull market.
The information regarding your trading/investing being in the US was not immediately apparent, and thus an assumption of the ASX [which is currently a bull market] was probably made.
No-one expects a past trading history, unless you are solicitating funds to invest on behalf of third parties. However, without some form of track record, why should anyone pay you any notice?
You claim that you make/made profits trading the aforementioned strategies.
On what evidence?
If on the other hand you had maintained some form of public tradeing journal, called in real time, we would not be having this conversation, as you would simply refer me to your thread, blog, website, and the evidence would speak for itself.
As regards double standards..........no double standards at all.
There are a number of people on this forum, and numerous others that do provide real time trading/investment calls.
Well currently, we have such a thread, not exactly called live, but, dealing with exactly this topic, viz. Covered Call. From time to time options trades [live] do crop up, and they are assidiuously followed.
But there is no record.
Therefore, a total waste of time.
Unfortunately, I disagree.
To my mind it behooves the reader to be a hardened sceptic in the realm of Financial markets. Unless there is evidence that categorically provides the verity of the assertions and or premise, nothing should be taken at face value. This is simply a long winded method of advocating the time worn phrase of; do your own research.
As an example, selling a naked Put, gives you a fixed reward, and a risk capped at 100% of the common, magnified by your leverage, this is the antithesis of sound money management. Therefore on what justification would you recommend this strategy?
Well, mabe you were being taught a lesson?
If that is the case, you received exactly that which you sought.
The forum will continue, or it will not.
Forums [internet] tend to have some argybargy, par for the course,
... try not to be quite so sensitive and repudiate the attack with logical, reasoned, insightful riposte, and your fun shall know no bounds!
jog on
d998
denl said:Hi Novice,
I have tried a few option courses also and they have been basically useless. Options University Master Series and Spotlight Series are both excellent. I do not get any payment for saying this. So far Options University is the only course material I have found that delivers excellent quality and usefull training.
Prime said:You are absolutely correct.
A comment made in jest in an effort to join in and then misinterpreted by others is not my problem.
You are also correct about respect ... I find it very hard to respect others when I'm under unprovoked attack.
I'm going to mellow out ... a nice chardonay on the balcony is in order.
You're going to have to explain these incommensurate risks to me ... either I've been very very lucky trade after trade after trade or ... they are no where near as risky as you claim. Please explain your stand on this issue.
Quote:
As an example, selling a naked Put, gives you a fixed reward, and a risk capped at 100% of the common, magnified by your leverage, this is the antithesis of sound money management. Therefore on what justification would you recommend this strategy?
I would justify this strategy when all of the indicators (technical and fundamental) in my system say "Do it!" ... you said it yourself ... "Do your own research".
"On what evidence?" ... "No-one expects a past trading history" ... Correct me if I'm wrong but you just did.
For the record, I have calculated my expectacy on CCs and NPs and it sits at +4.872 cents per US dollar traded ... when you factor in monthly turnover, brokers margin lending, thats a return on my capital of about 9% per month. I currently have about $114,000 over in the US. You do the maths and then divide the figure by 0.77 for the exchange rate and you'll get an idea of my monthly income from CCs and NPs.
Yep ... CCs and NPs are gonna give me a nice little holiday in Europe ... and whilst I'm there I expect to visit a few stock exchanges and claim part of the trip on tax!
you need to have the evidence to support that stance
Good. Where do I find them? I't will be fun to monitor them. Mind you, I never purported to provide tips ... all I did was say that I made some good profits. I don't have to justify them to anyone. c u in Rome! (that was humour in cased it was missed)
Lessons should be taught by those qualified to teach them. I have seen little evidence to date to verify the qualifications of those that seek to "teach".
I trust this response was logical,reasoned and insightful.
prime said:I've said it before in these forums ... I'm here to learn. What I do learn, I study, test and put into practice and make it work. I learn from other peoples mistakes and my mistakes and profit from them.
bingk6 said:Hi Prime,
Just a word of advise. If you are here to learn, you should not antagonise one of the very few people on this forum who are genuinely able to broaden your knowledge. WayneL has selflessly spent a great deal of his time discussing the various aspects of options trading in an attempt to raise awareness as well as to educate. I for one have found his contribution invaluable.
The issue of using NP is a personal one, and as duc has pointed out, it has limited reward and potentially unlimited risk, and is therefore not something you would recommend to everybody. Having said that, I do use NP quite a lot myself, but I understand the implications involved and so I take my chances accordingly.
However, I have also witnessed WayneL's now famous FRX Diagonal spread trade. Notwithstanding the fact that he made a vega risk miscalculation, it was the principal of what he was able to achieve with the usage of volatility skew that really caught my eye. When opportunities such as these arise, he was able to literally "lift" the entire risk curve, so that only at very small range of strikes were the transaction unprofitable. In other words, there were large range of strikes that profitable, a key ingredient in the risk/reward analysis.
To my mind of thinking, this type of trading is far superior to the NP and I would suggest that you evaluate some of WayneL's previous post to see what you can glean from it, rather than engage in some meaningless debate on chest beating.
Just my
Prime said:I'll have to search for it ... it sounds intriguing.
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