All I Know About Trading Options, I Learned in Flight School

[ledgy]

Be fair to HoCo. That last one is good, and relevant. It's essentially the same as one of the main lessons that Livermore emphasises, and it's certainly been my experience that the principle is sound.

Agreed, I wasn't referring to that particular quote, more the general theme of the thread, and I certainly wasn't having a go at the gentleman in question. Seems to be plenty of people doing that around here, not really into gang bang's!

 

[Pazienza]

Agreed, I wasn't referring to that particular quote, more the general theme of the thread, and I certainly wasn't having a go at the gentleman in question. Seems to be plenty of people doing that around here, not really into gang bang's!

I think it's a mixed bag to some extent. Some are good, others I think are being shoe-horned in and could do with pruning.

H-Bizzle has his share of detractors to be sure, but he's not a bad old stick, and he's a significant cut above the average vendor / educator (or will be when he starts).

 

[ledgy]

I think it's a mixed bag to some extent. Some are good, others I think are being shoe-horned in and could do with pruning.

H-Bizzle has his share of detractors to be sure, but he's not a bad old stick, and he's a significant cut above the average vendor / educator (or will be when he starts).

I just need a translator to work out what he's saying. If I had a lesser level of intelligence I'd think he was massively intelligent!

Not massively against people who choose to educate, more the ones who do it knowing they don't know sh1t!

 

[Black Swan]

Be fair to HoCo. That last one is good, and relevant. It's essentially the same as one of the main lessons that Livermore emphasises, and it's certainly been my experience that the principle is sound.

Livermore...?.

 

[Pazienza]

Livermore...?.

Yes, Swanbongo, Livermore.

 

[Black Swan]

Yes, Swanbongo, Livermore.

Livermore....

 

[Pazienza]

Livermore....

Indeed Swannychops, Livermore.

 

[JRP2891]

This could take a while

 

[Black Swan]

This could take a while

Had a chat with a former poster about a version of Godwins law in relation to t2w...Livermore..

 

[DionysusToast]

Don't believe other people, prove it for yourself. Stick to what you have proved believable. Don't be overawed by other more senior people. Don't ignore the feelings in your bones.
Source: David P. Davies, former Chief Test Pilot

This is some of the worst advice I have seen given to a new trader.

Still - it does explain your own reluctance to listen to advice from options experts on the inevitable eventual outcome of your own trading strategy.

The issue of course is that newbies don't know how to prove it to themselves. To do that alone they need advice from senior people.

A prime example of someone that does not know how to prove something to themselves would be...err.... you.

Also - it is ironic that you give this as advice yet you offer your services as an educator.

 

[JRP2891]

Had a chat with a former poster about a version of Godwins law in relation to t2w...Livermore..

Is Jesse the Adolf?

 

[Pazienza]

Had a chat with a former poster about a version of Godwins law in relation to t2w...Livermore..

There should be a Godwin's Law for Godwin's Law...people rarely mention Hitler these days (I imagine few know who he was) but you very frequently get some smug prat mentioning "Godwin's Law", as though he hasn't just said something utterly idiotic.

 

[Pazienza]

This is some of the worst advice I have seen given to a new trader.

Still - it does explain your own reluctance to listen to advice from options experts on the inevitable eventual outcome of your own trading strategy.

The issue of course is that newbies don't know how to prove it to themselves. To do that alone they need advice from senior people.

A prime example of someone that does not know how to prove something to themselves would be...err.... you.

Also - it is ironic that you give this as advice yet you offer your services as an educator.

You make some fair points there. I suppose H-Bizzle might come back with something he's maintained right from when he first started here, which is "Trust, but verify".

 

[HowardCohodas]

This is some of the worst advice I have seen given to a new trader.

Still - it does explain your own reluctance to listen to advice from options experts on the inevitable eventual outcome of your own trading strategy.

The issue of course is that newbies don't know how to prove it to themselves. To do that alone they need advice from senior people.

A prime example of someone that does not know how to prove something to themselves would be...err.... you.

Also - it is ironic that you give this as advice yet you offer your services as an educator.

Congratulations at nearly topping your previous posts in the number of falsehoods in one post. Can't way for the next set of DTs.

 

[HowardCohodas]

You make some fair points there. I suppose H-Bizzle might come back with something he's maintained right from when he first started here, which is "Trust, but verify".

"Trust, but verify" is good advice and I still give it frequently. The only reason I did not just recommend your post is to make clear that his points may be fair, but most of his premises are quite false. It's hard to trust someone who uses falsehoods to make a point, even a good one. These are now called DTs.

 

[HowardCohodas]

Weather forecasts are horoscopes with numbers.
Source:

 

[Pazienza]

"Trust, but verify" is good advice and I still give it frequently. The only reason I did not just recommend your post is to make clear that his points may be fair, but most of his premises are quite false. It's hard to trust someone who uses falsehoods to make a point, even a good one. These are now called DTs.

Sorry, I get what you mean. When I said that he made some fair points, I meant in a general rather than specific sense, not relating to you or anyone in particular. For example, there is an issue going back and forth about whether people can be taught or whether they must learn it for themselves. I would say that both are fair positions to take in general (I appreciate that this might sound contradictory).

Despite the impression I might give, I've always said that it is certainly possible to find paid-for education that is valuable and worthwhile. I would also say though that it is hard to do, and regardless of the quality of the education / educator, there is no getting away from the huge amount of work and dedication that is required of the student. Plus much of the educational content is available for free.

Then again, a good educator could help bring focus and structure, not mention cutting through the immense amount of crap and bad information that is also available for free. So I can see both sides.

 

[Pazienza]

Weather forecasts are horoscopes with numbers.
Source:

Go on then. This one I think really does require some clarification.

My guess would be something like:

This quote is intended to illustrate the point that nothing has predictive power. This could be used to teach the necessity of accepting and managing losses and the vital importance of the trading plan - ie, all the non-technical stuff.

Any good?

 

[DionysusToast]

Can't way for the next set of DTs.

Aaaah - so you have a drinking problem.

This explains everything H-H-H-H-H-Howard.

 

[DionysusToast]

"Trust, but verify" is good advice and I still give it frequently. The only reason I did not just recommend your post is to make clear that his points may be fair, but most of his premises are quite false. It's hard to trust someone who uses falsehoods to make a point, even a good one. These are now called DTs.

Feel free to refute said falsehoods point by point.