The way he trades is good and overall a solid tactic. I know someone who trades similar and they do very well. Do not think it's clear to everyone though that to trade that style generally speaking you need years of profits behind you, as well as a pretty big bank roll, particularly in this environment. It requires the ability to hold at least one contract if not multiples through big swings, in order to ultimately sell it a lot higher.
I couldn't personally be buying from 3400 all the way down to 2200, but if it works for someone and he can afford that sort of adverse move, then that's cool
What you don't realize is that he's been singing the same refrain throughout the entire time the market was falling off the cliff.
Yep-----First step above the Izzy Bottom complete. I did notice that numerous individuals across the board began talking about 2450 well after the fact. Za-Zing.----Ishmael.
He's telling you on a forum he trades like this . 1000-1 he gets scared out of his positions many times with big loses . This is a fantasy board were few ever lose money. We all know thats bs and what reality is . Our emotions play a big part of trading .
In retrospect, should have followed my rule of trading on the side of the RTH open. In addition, I was not clear in my mind which time frame I was going to trade early on. I will adjust my 'fly according to tomorrow's action after the open, from hedging it to closing it to maybe adding on. Overall, think some kinks are worked out on the IBKR Mobile Platform. The option chains load way too slowly and I can't see prices in volatility, potentially handicapping the structuring of my option trades. Probably missed out on an opportunity to incorporate a cheap IV horizontal for my long NTM leg. At least I will have my real computer for Monday's trading. Judging from the posts of others, y'all done this trading thing before, haven't you?
Than I stand corrected if he's been saying the same thing up at the highs as now and hasn't posted PnL to set the record straight. None the less the overall principal of what he's doing is a plausible strategy if done correctly as I personally know and have watched someone trade that way and be extremely profitable day in and day out for years.