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The Really Useless Thread

  • #4,321
  • Aug 28, 2011 4:55pm Aug 28, 2011 4:55pm
Quoting PayTheLimit
those bastards have taken years off my life..

I won't touch them with a bargepole ever since I started trading my own account. With spot and equities, you pretty much know exactly where you are at, nice little visual charts and clues, a bit of one eye on Bloomy, a bit of data collection, with a few calculations and of you go. Risk is tiny, rewards are not astronomical, but steady as she goes does it anytime for me now my own dough and future is on the line.
  • #4,322
  • Aug 28, 2011 4:56pm Aug 28, 2011 4:56pm
Quoting PayTheLimit
those bastards have taken years off my life..
I started my trading career learning options.... they really are bastards... I remember thinking "If all trading is this complex Ill never make it in this business"
  • #4,323
  • Aug 28, 2011 5:03pm Aug 28, 2011 5:03pm
Quoting Wulfgar
I started my trading career learning options.... they really are bastards... I remember thinking "If all trading is this complex Ill never make it in this business"

Aren't options a bit safer in terms of risk, though? Pay a contract fee, if it goes against you, let it expire?

Will need to read up on them, I know absolutely nothing about it.
  • #4,324
  • Aug 28, 2011 5:04pm Aug 28, 2011 5:04pm
Quoting cloggie
I won't touch them with a bargepole ever since I started trading my own account. With spot and equities, you pretty much know exactly where you are at, nice little visual charts and clues, a bit of one eye on Bloomy, a bit of data collection, with a few calculations and of you go. Risk is tiny, rewards are not astronomical, but steady as she goes does it anytime for me now my own dough and future is on the line.
I love the damn things. I have traded them in just about every market. I was always a fan of the leverage they gave you. Not to mention the tons of different strategies that are availabe. I always allocated a portion of my earnings to flyers, because when they hit, the hit big. I have given them up, slowly, over the years, just cause I'm not such a cowboy anymore, but all my largest and most memorable trades have been option trades.
Look Sharp/Trade Tight
  • #4,325
  • Aug 28, 2011 5:06pm Aug 28, 2011 5:06pm
Quoting Wulfgar
I started my trading career learning options.... they really are bastards... I remember thinking "If all trading is this complex Ill never make it in this business"
it does take while to get used to the different variables..
Look Sharp/Trade Tight
  • #4,326
  • Aug 28, 2011 5:11pm Aug 28, 2011 5:11pm
Quoting PayTheLimit
I love the damn things. I have traded them in just about every market. I was always a fan of the leverage they gave you. Not to mention the tons of different strategies that are availabe. I always allocated a portion of my earnings to flyers, because when they hit, the hit big. I have given them up, slowly, over the years, just cause I'm not such a cowboy anymore, but all my largest and most memorable trades have been option trades.

I totally agree with you, but for me and my risk appetite, they just don't work anymore, spot and equities are nice and steady, no whipsaws in equitiy. I have gotten to the point in my trading career where I don't really have to think anymore, I have found a home that gives me steady return on my capital with no surprises either way.

I agree, if you hit one out of the park, the feeling is amazing, the problem is that you don't get that many of them, and I have grown accustomed to what my trading style now gives me, I don't have to worry about finding those elusive flyers that make my year, I just go to work and work on a steady increase of my equity, it is quite gratifying seeing what a nice and steady growth does for me, not even mentioning the lower amount of stress and the better night's sleep that this trading style is giving me.

I am too old for that kind of sh!t. All young traders should experience it at least once in their trading life though.
  • #4,327
  • Aug 28, 2011 5:12pm Aug 28, 2011 5:12pm
Quoting PayTheLimit
it does take while to get used to the different variables..
ya it was a tough way to get started in the marketplace... but with limited capital to get goin with str8 equities trading was out of the question...

just like spotfx though I see a ton of people who just stick to one or a couple stocks or other instrument to play options on... one of the most successful people i know EXCLUSIVELY plays Apple options and has made a damn fortune on them
  • #4,328
  • Aug 28, 2011 5:14pm Aug 28, 2011 5:14pm
bastards...
  • #4,329
  • Aug 28, 2011 5:15pm Aug 28, 2011 5:15pm
Quoting cloggie
I totally agree with you, but for me and my risk appetite, they just don't work anymore, spot and equities are nice and steady, no whipsaws in equitiy. I have gotten to the point in my trading career where I don't really have to think anymore, I have found a home that gives me steady return on my capital with no surprises either way.

I agree, if you hit one out of the park, the feeling is amazing, the problem is that you don't get that many of them, and I have grown accustomed to what my trading style now gives me, I don't have to worry about...
I agree bro, truth is as you progress in your trading carear, you have to lower the levels of risk you are taking.
Look Sharp/Trade Tight
  • #4,330
  • Aug 28, 2011 5:15pm Aug 28, 2011 5:15pm
Quoting cloggie
I totally agree with you, but for me and my risk appetite, they just don't work anymore, spot and equities are nice and steady, no whipsaws in equitiy. I have gotten to the point in my trading career where I don't really have to think anymore, I have found a home that gives me steady return on my capital with no surprises either way.

I agree, if you hit one out of the park, the feeling is amazing, the problem is that you don't get that many of them, and I have grown accustomed to what my trading style now gives me, I don't have to worry about finding...

I live 4 hours from Vegas if I need a rush

http://www.smiley-lol.com/smiley/loi...nce/casino.gif

.... Ill stick to a steady income stream...
  • #4,331
  • Aug 28, 2011 5:16pm Aug 28, 2011 5:16pm
Quoting cloggie
Gonna call it a night here, scalp play is selling of the 45 for now, .

Let's see if she can make it to 4462, gotta still use last week's numbers.
  • #4,332
  • Aug 28, 2011 5:18pm Aug 28, 2011 5:18pm
Quoting PayTheLimit
I agree bro, truth is as you progress in your trading carear, you have to lower the levels of risk you are taking.

My risks are tiny now, no way am I going to jeopardise my family's lifelyhood, or my lifestyle. As long as I can beat what someone else can offer me and get me that bit closer to throwing in the towel in a not too distant future, I am a happy camper. Slow and steady wins the race right now. As a matter of fact, it ain't really a race anymore, I am really enjoying myself doing this, probably for the first time in my life.
  • #4,333
  • Aug 28, 2011 5:18pm Aug 28, 2011 5:18pm
Quoting Wulfgar

just like spotfx though I see a ton of people who just stick to one or a couple stocks or other instrument to play options on... one of the most successful people i know EXCLUSIVELY plays Apple options and has made a damn fortune on them
yes I know two people right now take just trade the AAPL, and the bastards are killing it, every time I talk to them, I get the, dude get over here...
Look Sharp/Trade Tight
  • #4,334
  • Aug 28, 2011 5:20pm Aug 28, 2011 5:20pm
Quoting PayTheLimit
yes I know two people right now take just trade the AAPL, and the bastards are killing it, every time I talk to them, I get the, dude get over here...

We both know it ain't gonna last.
  • #4,335
  • Aug 28, 2011 5:23pm Aug 28, 2011 5:23pm
Quoting cloggie
We both know it ain't gonna last.
sure, but then you just jump on the next hot stock, the next AAPl, thats how those bastards operate...
Look Sharp/Trade Tight
  • #4,336
  • Aug 28, 2011 5:25pm Aug 28, 2011 5:25pm
Quoting PayTheLimit
sure, but then you just jump on the next hot stock, the next AAPl, thats how those bastards operate...

Been there, done that, got the fuckin T-shirt, no thanks, I'll pass. I'll leave that for the young-uns.


Back to spot, 4495 needs to hold here.


Bored as sh!t, watching MOTD
  • #4,337
  • Aug 28, 2011 5:25pm Aug 28, 2011 5:25pm
well I'm going to bed, little wide in the lira for my taste, good luck, PTL...
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Look Sharp/Trade Tight
  • #4,338
  • Aug 28, 2011 5:27pm Aug 28, 2011 5:27pm
Quoting PayTheLimit
yes I know two people right now take just trade the AAPL, and the bastards are killing it, every time I talk to them, I get the, dude get over here...

Funny u say AAPL......AAPL and NFLX on my radar.....
  • #4,339
  • Aug 28, 2011 5:27pm Aug 28, 2011 5:27pm
Quoting PayTheLimit
yes I know two people right now take just trade the AAPL, and the bastards are killing it, every time I talk to them, I get the, dude get over here...

yes I am
  • #4,340
  • Aug 28, 2011 5:27pm Aug 28, 2011 5:27pm
Quoting PayTheLimit
sure, but then you just jump on the next hot stock, the next AAPl, thats how those bastards operate...
When u know what that next hot stock is let us bastards in here know would ya?
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