Recent content by daveyc

start buying back your shorts as soon as you are either happy with the results or a couple of weeks prior to expiration. you will risk too much if you hang on for every penny.

My view is you have an opinion on whatever it is you are trading and place a 'bet' on direction. Adjustments are separate trades and add to the wager. There is nothing wrong with this. Making money should be your major focus and interest, otherwise you are kidding yourself and are in the...

so you must be referring to me as 'ignorant'. ok so lets see who is actually really ignorant. i more than tripled a pm account trading options in a year and STILL tell you that trading is gambling. i don't hold any advanced degrees. don't try to think that you have been given a larger brain...

only if you are using them as a hedge as they are intended. too much of a hedge and you don't make money.

thanks, i didn't think i would get any flack making the obvious point of trading is a form of gambling but some refuse to admit it to themselves and they don't realize that wall street is the biggest casino in the world.

thats a good one. so basically, you don't have anything to add. either you are drunk off your ass or you are a teenage punk. go trade your 2 etf contracts kid.

whats your beef? you are a 'legendary member' so lets see what value you have to add if any? is this how you got over 8000 posts? do you even trade? wait, i know, you trade 1 or 2 spy option contracts and think you are a trading god.

yes, i agree with your post. i trade options but as you said, ofcourse, apply this to all trading vechicles.

there is no problem with professional gambling. the op wanted to know why it is that most option traders lose. my answer is simply stating the obvious, this is what i call professional gambling. some get offended by that, but what does a trader do? place bets. simple as that.

did u want to expand on that useless comment? tell me where i'm wrong?

well, option trading is like professional gambling to me. gambling is an addiction not unlike crack. no matter what you hear, this is the reality, we think we are smarter as option traders, so this is professional gambling for 'smart people'. there is always the next expiration cycle where...

just curious.... do you need to keep the stock? did you sell the calls in the money? i thought the goal for covered call sellers was to have the stock called? i can only think of a couple of reasons for keeping the stock. i didn't know that automated trading of options was prohibited, is...

Portfolio margin is based on the risk in a trade and for standard margin you need to have enough cash available to handle the max loss. That said, that doesn't mean you can go nuts and trade the max on your PM acct because you still have to manage the buying power and maintain acct minimums...

Do you mean you want advice on what trades to take/make? I think if you are going to get into the world of options (professional gambling) its probably best to learn your own strategies. Also, just to add, there are standard margin accounts and portfolio margin accounts. There are account...

I use thinkorswim by tdameritrade. Open a paper trading account for free. I think you will find they have all the tools you will need and then some.