Thanks for the information. It makes a discussion more valuable when we have some facts. I regret if my comments have been construed as lacking in sympathy - but frankly emotions such as sympathy have no place in the markets.
Writing covered call options certainly is a reasonable income...
I don't need to read the FSA guidelines, thank you. I am well aware of the risks involved.
Of course the broker is at fault here as the case was described. But you can't open up an options account without signing documents which clearly outline the risks involved.
I thought we were having a...
So... you're saying that the account holder has NO responsibilty to manage his account and make sure that no one is mismanaging his account?
(Personally, I watch my account statements closely and ANY advisor would always have to get approval from me before any trade decisions are acted upon.)
There is so much wrong with this post that it is hard to know where to start.
lost my life savings (net worth)
Trading Options (or any derivatives) is absolutley for risk capital only. Are you seroiously trying to tell us that you didn't know that? Have you ever read the disclaimers that are...
I liked your thoughts on Meats and spread trading in general. I have looked at currencies on a spread basis, and Metals but haven't spent much time looking at Meats. I must confess that I really don't have any idea how to "properly" trade spreads, but I do have some ideas to share for...