my blog of LULZ

DashRiprock

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now as far as I can tell this is in just about the best place for a blog of LULZ

so please mods don't delete it for being on wrong place :/

I'll start out with (yet another) song written by DashRiprock to anyone who has been unfortunate ebough to pay for an option course run by someone that doesn't know their ar$e from their elbow.

(to the tune of "Like a virgin" by Madonna)



(sing along if you want)


I have got all my risk assessed
my theta coming through
they say that it's all hogwash
but "you know who" knows the truuuuuth

whats the beat? NFP?!
I've been had! If I only knew
that it was all schpiel
yeah it waaaaaaas all schpiel
the spot has run throuuuuuuugh

like my short strike
Touched for the very first time
Like my shooooooort strike
and my gamma
climbing high

He's just another del-boy!
my profits falling faa-e-aast
for me no more cordon bleu
because I'm doing my ar$e

He's a swine! Bottom line.
Was so wrong! This was all foretold
now I'm full of douuubt
like a rainbow troooooout
that your confused and oooooooooold

like my short strike (hey!)
Touched for the very first time
Like my shooooort strike
and my gamma
climbing hiiiiiiiigh

oooohhhh
wooaaoohhhhhh (aah!)
wooaaohhhh

it's my time! what a crime!
Have to busk.. on the central line
this is not ideal
this is noooooooooot ideal
quotes a barn door wiiiiiiide!

like my short strike (hey!)
Touched for the very first time
Like my shooooort strike
and my gamma
climbing high
Like my short strike
Ohhh oooh like my short strike
of my spread inside
when you short me
and you hold me
till expiry

Oh hooooo-ooooo
ohhhhhh
 
lets play a game of who's who. Try and Match the post with the picture :)

There are few pleasures in life greater than being able to support your family doing what you love. If you don't love it, it is harder to do it well.

The real dilemma is transitioning from here to there. Trading for a living vs. trading as a hobby has, in my view, at least two dimensions. The psychological demands and the time demands. Without doing it with real money, preferably small money, you will not have tested your psychological metal to know if it can stand up to the demands of trading being your living. This is not a complete stress test, but an important first step.

Once you have narrowed the area of trading you are interested in, you will need to select a strategy. Many strategies can be traded with different levels of time commitment. E.G. twice a month decisions, twice a day decisions, once every two hours decisions and continuous decisions. Each level of commitment can provide you with greater return, and will likely expose you to greater risk. The advantage of such a strategy is that it lets you increase your time commitment without learning a new strategy.

A trading system is made up of two key components; the strategy and the trader. A successful strategy traded by an undisciplined trader will still lose money.

Good luck on your adventure.

and

If you’re like most modern traders, you try to do it all. You study charts and historical data for trading opportunities. You struggle to devise a thorough, well-designed trading plan. You enter trades on your own electronic trading platform, and you monitor your trades to make midcourse corrections when necessary. Depending on your personality, available resources, and time commitment, you may want to consider depending on others to do some of the work. You don’t have to do it all. You can look toward others for help.

In the “old days,” traders and investors placed trades with a broker. Electronic online trading has changed all that for the most part. But the change was not without its disadvantages. Behavioral economist Dr. Terrance Odean has shown that the switch to online brokerages had some negative consequences. Traders, especially young men who had a recent trading windfall, tended to over-trade. Easier doesn’t always mean better. There was an interpersonal element of trading with a broker that was lost when it became electronic. It took a little extra effort to call your broker to place an order, but it gave you one more chance to think your decision through. You may have paused for a moment and thought, “Is this move actually a good idea? I don’t want my broker to think that I am foolish.” If you talk to many hedge fund managers, they actually have a staff member place their orders. Are they afraid to place orders themselves? Believe or not, many of them say that having someone else place their orders works out better overall.

And when it comes to developing a trading strategy, some traders prefer to leave it up to others. Rather than scour the markets for the next insight, you can purchase a trading system. Trading systems usually have a poor reputation in the trading field. A system works great for a little while, but then market conditions change, and the system fails. This common belief may have some truth, but it isn’t necessarily true. It is a matter of what system you chose. You cannot just pick any system. You have to do your homework. Look at the track record of the system and decide if it produces the level of profit you need. The main idea is to put your energy into finding the system that meets your specifications, rather than devoting that time and effort to trying to find new, innovative ideas. In a similar vein, you might also subscribe to newsletters that provide profitable setups. Again, you don’t need to do everything. You can get help when you need it.

There are other ways of easing the burden of trading. You can use automatic settings on your trading platform. If you are busy working your main job during the day, you can swing trade, for example, by putting a protective stop to ensure that you don’t lose your entire stake should the market turn. There are obvious disadvantages to using automatic protective stops. For example, if you set the stop too tight, you may get “stopped out.” But for the busy part-time trader, the added protection and peace of mind are worth the disadvantages. You may lose a trade here and there due to an improperly placed stop, but you can work your eight-hour shift at your day job with the reassurance that you are protected from whatever market calamity may ruin your trading plan.

There are many ways to ease the endless burdens of trading. The key is to stop trying to be a super-trader. Don’t try to do it all. Even top-notch, professional traders spread the workload, and so should you.
 

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Excellent!

I like this bit:

The real dilemma is transitioning from here to there. Trading for a living vs. trading as a hobby has, in my view, at least two dimensions. The psychological demands and the time demands. Without doing it with real money, preferably small money, you will not have tested your psychological metal to know if it can stand up to the demands of trading being your living. This is not a complete stress test, but an important first step.

"psychological metal"? I've heard Heavy Metal, Thrash Metal, Punk Metal, Nu Metal, Death Metal, Trad Metal, Hard Rock, Heavy Rock, Sleaze Rock, Prog Rock and C0ck Rock.

But "Pychological Metal" is a new one for me. Sounds like a bag of bummers, frankly.
 
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