a brand new trader, This is not meant to be mean spirited... That was a pretty high-and-mighty post for someone who's been posting for 6 weeks, and is most likely not yet making much money if any trading. I can see that you're a smart guy but you're a bit cocky about things and that can be a downfall in this business. Yes there are a lot of idiots on this site, but probably no more than the % of idiots that you come across in real life. There are also some great people here. You mentioned you may have to stop posting here as your time grows more valuable, but you seem to think we would all miss you...kind of funny. Stick around and earn some money and respect, maybe meet a few cool people.
the guy bought 50k [maybe more] of ES crash lottery tickets just before the fed announcement of no change in rates....go figure how much he has a clue about mkt and probabilities and above all profitability, LMAO.
Some good points are there but, yes, the alleged 47 Paul Tudor Jones points are overlapping and repetitive
How do you know how much money I put into the trade? I never gave an absolute amount, I spoke only in terms of risk. Why would you label long-dated out-of-the-money options as lottery tickets? That just shows you know nothing about options trading/speculation. Options are securities that allow you to limit your risk while gaining exposure to superior returns. Maybe you should learn more about them? I have a formal background in options pricing, do you? I know very little about credit markets and would not make srong assertions about someone else's CDO trading strategy because I know very little about it. I am a new trader but am not new to the markets. I am already familiar with the market and probabilities. I am currently learning about profitability. You've been around a while and I'm sure you have enjoyed success trading (?). But don't assume I don't know what I'm talking about when you don't know anything about the basis upon which I am making a trade and what my strategy/tactics are. Without knowing those details you're just "flaming" me on some sort of "newbie patrol"?? I don't know. That's bull$hit, you should know better... Why do you think there will not be a US recession through 2007? That is the 30,000ft view that serves as the underlying premise of that particular trade I am making. And to further correct you, I didn't buy any ES puts, the minis don't go out far enough on Globex. I bought SPY puts out to Dec 07 at varying strikes and expirations. I am also preparing put positions on copper, brazil, china and the homebuilders, call options on oil. Also considering silver puts. I am also developing my own daytrading system based on a combination of fundamental and technical analysis. Right now it revolves around trading the Sector HLDRS ETF's based on chart analysis of the long term, intermediate, and short-term trends. Still figuring out optimal amount of indicators, which indicators fit my style the best, and what combination of information resources (barron's editorials, wsj editorials, bloomberg, newsweek, businessweek, economist, trading mags) give the best fundamental economic picture of the market. Do you approve Bitstream? Or does that sound like some dumb newbie $hit to you? Please, be honest with me. If anyone else thinks I am deluding myself, please say so. I've noticed a subtle hazing culture here? Not sure. Not saying im against hazing per say, just surprised at how misguided it is? Why don't you haze the idiots, regardless of their length of tenure. Maybe some of the hazers are the idiots. Maybe it comes down to who's got the biggest mouth rather than quality of content? Sounds like some dumb gradeschool $hit if you ask me. Who knows. Seems to be uncharacteristic of people who are supposed to be mastering an art that requires deep introspection, emotional intelligence and clarity of thought...
It is IMPOSSIBLE to make money in the markets..... ------------------------------------------------------------------------------------ Really. I do not understand this question and this thread is it off topic? Are we all gamblers here?
The tone did come off a bit aggressive, chalk that up to me missing some parties tonight b/c of mild food poisoning and reading the whole post from front to back seeing alot of consoling and complaining. I agree that being cocky can indirectly lead to losses and it's something I think about. I agree. That's not how I meant it at all. Was just addressing the trend or widespread belief that successful traders become less accessible to new traders the more profitable they become - for many reasons. One of those reasons is that their time becomes more valuable and they have less incentive to help others, since a large part of success is determined by your own effort and ability, rather than someone else's. Using my own recent strides as an example may have been premature and/or presumptious, but I can't apologize for that... But I assure you, I understand where I fit into any heirarchy, I just don't think that means I need to "walk with my head down" or "not look people in the eye" so to speak. Looking forward to it. =)
Well, if that was the case, the markets wouldn't exist. There seems to be a consistent 10% give or take that make money no matter what market it is.
I remember when u r talking same stuff cool, we all do that.....then if we survive we see how really ignorant we were and how long the process really takes.......which is as long as it takes.........smart ain't the answer......emini speaking only daytrading.....99% get smoked right cool.??.......u never stepped way over the uglyline, cool.......thannks for that.......i hope u do well with your trading as you mature.......