Watch HowardCohodas Trade Index Options Credit Spreads

[DashRiprock]

Non-responsive.

It is highly immoral of you to teach others when you have such cavernous flaws in your understanding, and this has been pointed out to you on many, many occasions. There is another thread on EliteTrader that takes a very similar line to this one - which is more likely, you are wrong or everyone else is wrong?

Your self-efficacy won't do everything for you pal. My guess is that you have invested so much time, effort and emotional capital into this plan of yours that you are reluctant to take a step back and honestly consider the criticisms of it made by others with greater experience and understanding than yourself.

Basically you are too stubborn to go back to the drawing board and will continue to cut off your nose to spite your face. Which is fine if you're doing it on your own (it's your money to lose after all). But by offering to teach others you place yourself in a position of responsibility which your credentials cannot back up.


Plonker!

 

[arabianights]

The greatest problem is you lack the tools to "evaluate" it in my view... the evaluation is instead going to come with a short sharp shock...

 

[HowardCohodas]

It is highly immoral of you to teach others when you have such cavernous flaws in your understanding, and this has been pointed out to you on many, many occasions. There is another thread on EliteTrader that takes a very similar line to this one - which is more likely, you are wrong or everyone else is wrong?

Your self-efficacy won't do everything for you pal. My guess is that you have invested so much time, effort and emotional capital into this plan of yours that you are reluctant to take a step back and honestly consider the criticisms of it made by others with greater experience and understanding than yourself.

Basically you are too stubborn to go back to the drawing board and will continue to cut off your nose to spite your face. Which is fine if you're doing it on your own (it's your money to lose after all). But by offering to teach others you place yourself in a position of responsibility which your credentials cannot back up.


Plonker!

Please reread my question so that you will understand why you are non-responsive. Citations would help make your case.

 

[DashRiprock]

Please reread my question so that you will understand why you are non-responsive. Citations would help make your case.

You didn't ask me a question. As for citations, would the whole thread do?

 

[HowardCohodas]

Yes, but, Howard, surely the problem is you assuming you're qualified to instill anything in the student, whether it's done in good faith or otherwise? Your experience is woefully inadequate. I propose that you yourself don't fully comprehend the seriousness of risk mitigation practices, let alone are able to impart or instill it in anyone else. This is not a dig at you, as there's a lot of more experienced people in the mkt (including myself) who don't fully comprehend risk management. But the key difference is that none of these people (including myself) consider themselves capable of teaching.

Of course, I get it wrong... I get it wrong all the time. And yes, the fundamental uncertainty of trading (and life) is precisely why I think you're fully entitled to learn from your own mistakes. However, you're going well beyond that in trying to teach others. As to your risk mitigation practices, my point to you (that echoes Arab's) is that you haven't experienced enough risk to claim that your risk mitigation methods are effective. Again, it's not a problem if you're doing this with your own money that you're, effectively, prepared to write off.

I have often written about the limitations of back-testing, but it is nonetheless an important part of my qualification process for a strategy. In other posts I explained the elaborate extent to which I go to avoid "curve fitting." I have never seen any other back-testing description that is as extensive as mine. A few posts back I highlighted the time frame of data I used in my back-testing to illustrate the volatility range in that period.

As I have stated earlier, I also paper traded for five months before beginning real money trading. Paper trading also has its limitations and does not guarantee success, but it is one step closer to real money trading.

As I stated many times, my real money trading has been limited to low volatility and that causes me some caution. However, my paper trading period does not have that limitation. I think it informs my confidence that my strategy will be successful in higher volatility regimes. I remain cautions, because I never know what I may have overlooked. You think that this disqualifies me from teaching. I'm still thinking about that.

 

[HowardCohodas]

You didn't ask me a question. As for citations, would the whole thread do?

Please explain how offering to teach "what I practice" is construed to be investment advice under previous or new rules.

 

[DashRiprock]

Im fed with your ignoring difficult questions and pedantry, its pathetic.

so instead I am just gonna do what you do and say the same thing again and again and again.

It is highly immoral of you to teach others when you have such cavernous flaws in your understanding, and this has been pointed out to you on many, many occasions. There is another thread on EliteTrader that takes a very similar line to this one - which is more likely, you are wrong or everyone else is wrong?

Your self-efficacy won't do everything for you pal. My guess is that you have invested so much time, effort and emotional capital into this plan of yours that you are reluctant to take a step back and honestly consider the criticisms of it made by others with greater experience and understanding than yourself.

Basically you are too stubborn to go back to the drawing board and will continue to cut off your nose to spite your face. Which is fine if you're doing it on your own (it's your money to lose after all). But by offering to teach others you place yourself in a position of responsibility which your credentials cannot back up.


Plonker!

 

[counter_violent]

I come from primarily an academic and research environment. Sharing experiments and results, freely or for pay, is part of that tradition. Is it fair for me to teach "what I am doing" without the expertise you require? I think it is provided I fully disclose the limitation of my knowledge, my experience and my methods as I understand them. Students will make an informed decision.

Howard, this is extremely disappointing. Students by virtue of the fact that they are students can not make any informed decisions. They will have an inbuilt natural bias towards believing what is being taught until such time that their experiential being catches up. By the time this happens, it could quite easily be too late.

I strongly urge you to reconsider your stance ref teaching.

 

[DashRiprock]

Howard, this is extremely disappointing. Students by virtue of the fact that they are students can not make any informed decisions. They will have an inbuilt natural bias towards believing what is being taught until such time that their experiential being catches up. By the time this happens, it could quite easily be too late.

I strongly urge you to reconsider your stance ref teaching.

hi

everyone knows he doesnt know what hes doing so why is his interview still up?

it is bad for him to be trying to teach buts its even worse for the owners to publicise it when its so clear he doesnt understand.

?

 

[HowardCohodas]

The greatest problem is you lack the tools to "evaluate" it in my view... the evaluation is instead going to come with a short sharp shock...

MG has on his plate a different approach from mine to evaluate my strategy.

Back-testing has limited effectiveness in predicting real money performance, but was performed using data from periods with some healthy shocks.

Paper trading has better, but nonetheless limited effectiveness in predicting real money performance, but yielded good results through some pretty high volatility periods.

My paper trading and real money trading and some thought experiments indicates that my real vulnerability is transitions. I'm assuming that's what you mean by healthy shocks. During paper trading (do you think there were healthy shocks during that period?) my worst month was 2.3% increase in my account. My best month was 23.5% increase. I've taken some pretty painful hits, but have yet to experience a losing month. Doesn't mean it wont happen.

Is it informative that some pretty successful gurus (expensive seminars, high priced web delivered recommendations, etc) who teach methods similar to mine did worse than I did in those periods?

 

[HowardCohodas]

hi

everyone knows he doesnt know what hes doing so why is his interview still up?

it is bad for him to be trying to teach buts its even worse for the owners to publicise it when its so clear he doesnt understand.

?

That conclusion is way above your pay grade. You have no idea who has endorsed me while you and others trash me. And that was after reading the threads you referenced.

I engage here to make me better at what I do. I sometimes let some ego get the better of me and get down in the mud. This weekend was a good (bad) example.

I now have two things as a postit note on my screen.

"If it is to be it is up to me"
"Never wrestle with a pig. You both get dirty and the pig likes it."

I'm considering one more.

"Never argue with an idiot. They drag you down to their level then beat you with experience."

 

[DashRiprock]

"Never argue with an idiot. They drag you down to their level then beat you with experience."

in this thread howard, your the idiot. fact.

Oh, and you have no clue what pay grade im at. For a start I understand considerably more about options than you do.

 

[HowardCohodas]

Isn’t this THE basic newbie trip hazard? Playing a demo differently to live funds. You’re saying, I think, that the live funds trading period were during a period of low volatility and the demo trading period was one of high volatility. Is what you are saying objectively correct or is it possible you allowed the very different subjective experience of trading demo to live to bias that view?

1. I back tested using data from periods of time with a wide variety of volatility. It was sufficiently successful to go to paper trading. I had losing months. Back testing has its limitations.
2. I paper traded during periods of high volatility. I was hurt but remained positive for the month. Paper trading has its limitations.
3. Paper trading and real money trading have given me similar results. This adds to my confidence. I have made some changes to reduce the variance of results. This adds to my confidence. I am still very cautions. 12 months total of paper trading plus real money trading has its limitations in predicting future results.

 

[johnny197145]

I think anyone without the gumption to find these out for themselves shouldn't have their hands held that much as they'll end up legging into naked shorts and crying..

 

[HowardCohodas]

in this thread howard, your the idiot. fact.

Oh, and you have no clue what pay grade im at. For a start I understand considerably more about options than you do.

I doubt you have the pay grade to state something with complete certainty, i.e. your use of the word everyone. That pay grade is reserved for G-d.

 

[HowardCohodas]

I think anyone without the gumption to find these out for themselves shouldn't have their hands held that much as they'll end up legging into naked shorts and crying..

One of my credit spread trading mentors told me that I was allowed to trade options naked, but he would never forgive my trading naked options.

 

[DashRiprock]

it isnt the absolute level of volatility that matters its the difference between the level of implied volatility from open to close.

 

[DashRiprock]

I doubt you have the pay grade to state something with complete certainty, i.e. your use of the word everyone. That pay grade is reserved for G-d.

On this thread you are the idiot.

100% certain.

 

[HowardCohodas]

it isnt the absolute level of volatility that matters its the difference between the level of implied volatility from open to close.

Make you case with examples please.

 

[HowardCohodas]

100% certain.

I now understand your view of your pay grade.

Rock on brother.