Watch HowardCohodas Trade Index Options Credit Spreads

[brettus]

Am I the only person who thinks Howard is acting in good faith, but is just severely misguided?

I think he's misguided by the fact that he thinks inflating his figures or presenting in the way he thinks more accurately calculates his return. Saying you can make 100% returns a month will make people think it's more likely a scam than say 10%, but he doesn't understand that.

I don't think he is acting in good faith because of awkwardness in answering what his monthly return is, when if he said it was 6.4% i would consider than a damn good return and more believeable than say 16% or higher. Most hedge funds look for 11% a year.

Basically, he doesn't provide a decent enough example or work it out so someone who is interested in his "teachings" can know what return to expect.

 

[HowardCohodas]

WTH did you mention about it being only 30% of your capital. This just makes people think you have another 70% in your account for margin purposes. TW@T

Had you read much of the thread you would know the answer to that.

I did not volunteer this information. It was demanded because of the confusion mentioned only a few hours ago. As you should understand by now, I would prefer to keep the conversation to this account and this strategy without reference to what percentage of my overall assets it represents.

Déjà vu all over again.

 

[kimo'sabby]

I don't understand. A statement shows every transaction and my daily balance. Everything I have stated about risks and rewards and my trades published in my journal can be verified. Margins can be calculated to show that they were covered by cash in the account.

What am I missing?

Wot r u missin!!? ***adoodledoo! When a broker wants 70% of your account for you to pull off some pony options trick...alarm bells start to ring, Big H.

 

[Pazienza]

If you did I did not get that from your post. The rest is derivative.

LOL Howie, do you have the faintest clue what you're going on about? Because nobody else does.

LIAR!

 

[DashRiprock]

why dont you stop making arguments against people and answer to my earlier posts that you have ignored like the ones underneath here

http://www.trade2win.com/boards/tra...x-options-credit-spreads-156.html#post1443740

http://www.trade2win.com/boards/tra...x-options-credit-spreads-160.html#post1443826

answer this one from me please howard

 

[HowardCohodas]

why dont you stop making arguments against people and answer to my earlier posts that you have ignored like the ones underneath here

http://www.trade2win.com/boards/tra...x-options-credit-spreads-156.html#post1443740

http://www.trade2win.com/boards/tra...x-options-credit-spreads-160.html#post1443826

I've been busy, your questions are difficult for me to understand because you refused my request for numerical examples. I asked for numerical examples because your English is much better when trash talking then when you ask technical questions. At that stage of our dialog, I saw no benefit in pointing out that your command of the English language made the question incoherent to me. Your attitude is demotivating. From the limited understanding I have of your question, some of them have been answered in this thread and a little homework on your part would better clarify your questions.

There is more, but that should be sufficient.

 

[Pazienza]

I've been busy, your questions are difficult for me to understand because you refused my request for numerical examples. I asked for numerical examples because your English is much better when trash talking then when you ask technical questions. At that stage of our dialog, I saw no benefit in pointing out that your command of the English language made the question incoherent to me. Your attitude is demotivating. From the limited understanding I have of your question, some of them have been answered in this thread and a little homework on your part would better clarify your questions.

There is more, but that should be sufficient.

Another typical bullsh1tter response. Dash's English is fine, his questions are perfectly clear, numerical examples are not necessary and your refusal to answer speaks volumes about you. You are prevaricating in a transparent attempt to avoid answering an awkward question.

And you are a liar.

 

[HowardCohodas]

Wot r u missin!!? ***adoodledoo! When a broker wants 70% of your account for you to pull off some pony options trick...alarm bells start to ring, Big H.

I have no idea what you are talking about. My broker is ThinkOrSwim now part of TD Ameritrade. They have never commented on my trading other than to grant me lower commissions when I asked and to make adjustments when I discovered a flaw in their margin algorithm.

With my Yank sense of humor I can't tell if you're serious or just jabbing at me.

 

[DashRiprock]

I've been busy, your questions are difficult for me to understand because you refused my request for numerical examples. I asked for numerical examples because your English is much better when trash talking then when you ask technical questions. At that stage of our dialog, I saw no benefit in pointing out that your command of the English language made the question incoherent to me. Your attitude is demotivating. From the limited understanding I have of your question, some of them have been answered in this thread and a little homework on your part would better clarify your questions.

There is more, but that should be sufficient.

so you wont because you cant.

you dont even understand why numerical examples are of no relevance whatsoever.

plonker.

(I have a perfectly adequate command of the English language, as it happens. But, contrary to you, I am of the view that it is preferable in nearly all circumstances to have people underestimate your intellect rather than overstate it)

 

[HowardCohodas]

I think he's misguided by the fact that he thinks inflating his figures or presenting in the way he thinks more accurately calculates his return. Saying you can make 100% returns a month will make people think it's more likely a scam than say 10%, but he doesn't understand that.

I don't think he is acting in good faith because of awkwardness in answering what his monthly return is, when if he said it was 6.4% i would consider than a damn good return and more believeable than say 16% or higher. Most hedge funds look for 11% a year.

Basically, he doesn't provide a decent enough example or work it out so someone who is interested in his "teachings" can know what return to expect.

I guess I'm not the only one who uses hyperbole. 100%. What 100%? Inflating figures? False!

Once more. The isolated account containing only cash set up to trade index options credit spreads is today 15.95% higher than it was at the end of trading on 1/31/2011. I rounded it to 16.0%. The cash in the account is the only asset used to provide the required margin. No other assets are involved. None. Nada.

And you wonder why your demands that I answer your question without clarification go without response.

Fini.

 

[Pazienza]

so you wont because you cant.

you dont even understand why numerical examples are of no relevance whatsoever.

plonker.

(I have a perfectly adequate command of the English language, as it happens. But, contrary to you, I am of the view that it is preferable in nearly all circumstances to have people underestimate your intellect rather than overstate it)

Good post Dash.

 

[Pazienza]

I guess I'm not the only one who uses hyperbole. 100%. What 100%? Inflating figures? False!

Once more. The isolated account containing only cash set up to trade index options credit spreads is today 15.95% higher than it was at the end of trading on 1/31/2011. I rounded it to 16.0%. The cash in the account is the only asset used to provide the required margin. No other assets are involved. None. Nada.

Fini.

If you lost 100% of that isolated account would you be bust in terms of options trading?

What % of that "isolated account" did you risk to achieve that return?

 

[brettus]

I guess I'm not the only one who uses hyperbole. 100%. What 100%? Inflating figures? False!

Once more. The isolated account containing only cash set up to trade index options credit spreads is today 15.95% higher than it was at the end of trading on 1/31/2011. I rounded it to 16.0%. The cash in the account is the only asset used to provide the required margin. No other assets are involved. None. Nada.

And you wonder why your demands that I answer your question without clarification go without response.

Fini.

Cool. That's all i wanted to know. You misguided old git.

 

[HowardCohodas]

LOL Howie, do you have the faintest clue what you're going on about? Because nobody else does.

Speaking for yourself I see. Your understanding of simple matters has long been suspect by many, including those who remove many of your posts. You're not the only one who sends me PMs.

 

[HowardCohodas]

so you wont because you cant.

you dont even understand why numerical examples are of no relevance whatsoever.

plonker.

(I have a perfectly adequate command of the English language, as it happens. But, contrary to you, I am of the view that it is preferable in nearly all circumstances to have people underestimate your intellect rather than overstate it)

So you wont provide numerical examples because you feel they are not necessary, even though I asked politely?

That's your story?

And your attitude should have no effect on my interest in plowing through your question when you refused a politely given request?

That's your story?

And you surmise my unwillingness to reward boorish behavior as inability to answer your question?

That's your story?

I think you need to work on your persuasion skills.

That's my story!

 

[robster970]

Wow - it got hot on here over the weekend. I have only two points to add, namely for Howard:

1) The downside risk that everybody keeps talking to you about. You should probably take a look at the history of Victor Niederhoffer. He was am empiricist with regards to trading options and made the fatal assumption that because a market had not behaved in a certain way in the past, it would not do something unexpected in the future. He specialised in options and he got crucified. My point here Howard is that your reliance on back-test and past performance does not adequately outline risk of ruin.

2) Recent volatility on indices - this volatility increase is tiny and is normal for a trend testing for value. Your live results are still based on US equity markets that have been trending for that period due to the Bernanke Put. Be mindful that when the market changes and starts to shake people out, your strat will probably show very different behaviour.

Link to an interesting article - http://www.gladwell.com/2002/2002_04_29_a_blowingup.htm

 

[Jack o'Clubs]

Am I the only person who thinks Howard is acting in good faith, but is just severely misguided?

No, I'd go along with that. He's bamboozled himself with his own brilliance and is a perfect example of a little knowledge being a dangerous thing.

Howard reminds me of a guy on a gambling forum someone sent me a link to once who had enough maths to think he had invented a way to beat roulette. He put all sorts of complicated formulae up for 'proof' but had missed the point that each spin was a mutually exclusive event. Essentially it was a martingale with a couple of twists. More and more people tried to show him the error in his assumptions, initially with goodwill to save him from himself, but getting increasingly heated as he refused to take on board their comments - the thread was worth it for the lulz. Then, just as the argument was reaching a climax, he disappeared, missing assumed dead from the inevitable blow-up. I think this thread will go the same way, and for the sake of his friends and family who are now using his strategy I hope it happens sooner rather than later before serious sums are committed to it.

Howard - you commented that the recent spike in vol. has caused some pain. Have a look at the vix chart, say on a five year view. The pick up in the last couple of weeks or so doesn't even show... I don't think Howard's got any idea that selling theta/gamma strategies have been in a sweet spot since last summer because of where the markets have come from, nor how those strategies will fare given the only two conclusions from here: a normalisation as everything calms down, or mega-volatility as we hit another major crisis.

 

[arabianights]

you got a link to the martingale thread?

 

[Jack o'Clubs]

no, it was years ago - just stuck in my mind how convinced he was that he was right when all around him were providing him with reasons why it wouldn't work. Googling for it I did find this though, which is splendidly lulzy:

http://www.rouletteforum.net/cgi-bin/forum/Blah.pl

if you think there are some fruitcakes on t2w....

 

[tar]

Roulette Forum , what were u doing there Jack ?!