Delta Neutral Trading

[beeryboy]

Paddy yes there are millionaires who can't spell, but there are also millionaires who are as thick as two short planks.

I don't think you should be worrying about options at this stage. It won't make any difference when it comes to applying for uni.

Do you actually go to school? If you did then you would know exactly when you would be going to uni, not a vague 18-20.

 

[Profitaker]

Beeryboy

I can't be sure, but I suspect he's winding you up LOL. Is anybody here actually interested in discussing options trading ?

I mainly write, close to the money and always front month. I loath buying, but will cover on a needs must basis. I mainly go directional from the outset, occasionally open delta neutral. I trade ESX and a few individuals BBL, TSB, CUA, PRU. Struggling with the UK market at the moment with this IV squeeze.

Anyway, enough of me, how do you trade ?

 

[beeryboy]

I use a variety of strategies. I'm a technical analyst by first rights, and therefore I tend to have some opinion on the market. Using this information and volatility I normally end up buying options these days actually.

Volatility just isn't around and selling premium is a tough game.

Also I tend to use limited risk strategies.

 

[irishpaddypc]

There are also people who are BRILLIANT at spellings/education but are skint and live in council flats.

I would rather be a millionair as thick as 2 short planks! than to be skint with uni degree's and living in dumps.

Lets get on with the "DELTA NEUTRAL" GUY's Please?!

Wisestguy, can you please help to get this thing strated again please.[delta neutral]



Please get on with the "DELTA NEUTRAL" topic. Try to keep it simple so i can grasp it.

Many thanxs oops! wrong speling again

 

[irishpaddypc]

By the way beeryboy the age to get into uni is any age over 18. My name is Peter McEvoy my date of birth is 23rd June 1989 and I am not winding you up i am 15 years old and i attend st Joseph's Beulah Hill. If you dont believe me you can phone the school. Headmasters name is Mr Eamon Connolly, or if he is not available, i am sure one of the deputie head mastsers(mr vincent franchetti and mr William dorris) will be able to speak to you

 

[beeryboy]

Why must you consider extremes?

Who is MORE LIKELY to be rich, the educated man or the one who can't spell?

If you don't have an education you probably can't even work out what a delta is, never mind learn about delta neutral trading.

I guess you should really concentrate on your education and that's about all I can say about the matter.

 

[irishpaddypc]

If you don't have an education you probably can't even work out what a delta is, never mind learn about delta neutral trading.
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I'm not claiming to be an expert at Options, delta,theta, gamma, vega. [greeks]

I just want to further my education on this stuff. Nick leeson had poor schooling he started working as a office boy/clerk in the post room I believe. He didn'd go to Uni and he got a job in the Bank doing options and futrs if he can do it so can I.

I'm still paper trading this stuff and learning from U guy's so please dont fob me off.
Right lets get on with it! With no more bull**** please. I like the two to one PUT back spread otm 2 months out. and also LONG cheap Stradles close to expiry.

Paddy.

 

[beeryboy]

Want my opinion?

bulldozer=paddy (in which case you're a sad sad man!)

If not I'm not gonna spend any time on you paddy, get an education!

 

[bulldozer]

Paddy,
Get on a diffrt thread where the people have more respect and are willing to share their knowledge. Your not going to find it here.

Paddy give me your date of birth and full school address, I want to check you out.
I may have an offer for you.

Bull
Happy learning

 

[beeryboy]

IF it's true that paddy is 15yrs old, do you recommend that he go to school or waste his time on the boards?

Even you're not that foolish bulldozer.

 

[wisestguy]

Paddy ,

assuming all you say is real , then really at 15 , you should forget about trading and just concentrate and enjoy school . believe me the word is enjoy coz the big wide world ain't all it's cut out to be .

DO NOT have Leeson as your role model , I myself was trained in Simex , the same exchange he worked at . I didn't know him but I knew all his workmates.

The guy is a bum and a loser . and he confirms the fact that ANY OLD fool can not only trade futures but options TOO ! do a search and you'll see how much he lost in trading.

winning consistently is different ball game altogether and that no fool can do.

if all you want to do is know more strategies about delta neutral etc , buy a book , there are many on the market that will suffice.

Boy , I really worry when that fool Leeson is now a role model for 15 yo's . what's the world coming to.

 

[bulldozer]

Wise,

I see nothing wrong in going on the boards at 15 after school hrs. Its all about education,education, education. N Leeson was a GAMBLER who lost Millions in ftrs! He did not believe in stops and it was not his money. He new that the LAW is an ass. He took a gamble and it blew in his face. You have Gamblers and you have traders! Traders take less risk and in most cases use stops. Some teenagers go out after school and get mixed up with other kids and get into all kind of problems, booze,drugs,fights etc.
I dont think Paddy is doing anything wrong by talking with some guys that can be trusted and are willing to share some experience.
There are kids that go on adults and porn sites. I think he is not doing anything wrong by participating in the financial forums/sites. There are many books out there on trading the poor guy does not know which to buy and they are not cheap either. I never said he should leave school and go on these boards. People have a habit of reading something that is not said or advocated. I would not advocate any child to miss/drop out of school.

Paddy,
Your old enough and wise enough to make your own decision in life, if your parents are hapy with what your doing then I guess its fine. If you realy want to get into the financial world? Get fixed up with some brokers now and get some work experience during Easter, if you tell them that you have some knowledge on Options and ftrs [paper trading] you'll have a good chance of being accepted. So ring around dont waste time. Infact you may get someone from this board to help you find that offer. In the mean time go on to a diffrt thread and dont tell them your 15.

bull

 

[beeryboy]

Bulldozer,

You can't be serious, what's the point?

Paddy,

By all means get some work experience, but do yourself a favour, get off these boards, there's nothing here for you. You can't trade and won't be able to for years. More to the point your education is not advanced enough to understand the mathematics behind options etc.

You should concentrate on getting good GCSEs and A-levels, go to a good uni, and perhaps then think about picking up the trading again. At this point in your life you're just wasting time on the boards.

As far as I know a bank will be more than happy to take you on with good grades and little knowledge. I don't even think people like bulldozer understand the maths behind options, so what hope do you have without any education?

Just my point of view of course, you can do what you want at the end of the day.

I have no more to say on the subject.

 

[bulldozer]

Paddy,
The REALITY is that NOT every one that comes out of UNI makes it. There some on these boards that have big degrees after uni and they still dont have a proper job and some still live with their mummy and daddy at home and hooked on dope.
I never went to uni, i cant spell I'm useless perhaps in maths. But i became independant in my teens. I bought my first house through auction before i was 21.
My eldest son is not yet 30, he has bought his 2nd house. He has made over £50k last yr in options alone. He also trades with 2 brokers and heres the KICKER he did not go to UNI he left school at 16 and never read a book on options or ftrs. Here is the second kicker he is WORSE than me in spelling/maths.
READ the book of proverbs! once you have done that you dont need any books on Options.
The people that make/write these books on options and ftrs, most are not traders they make money from selling books.

John major, Alan Sugar, and many others did not go to UNI.

Now dont get me wrong I'm NOTsaying dont go to UNI. There are a lot of drop out that come of Uni. Life to me is all about achieving financial stability and stay within the LAW and being happy. I have a hostel let out to some guy's that came out of Uni and guess what? the local authority pay the rent for them to me. Read Proverbs.
and move on to another board. and dont believe everything people say on these boards! you can tell the Ar...les a mile off.
bull

 

[beeryboy]

Bull,

Do you apply this logic to option trading?

What a foolish line of argument!

Paddy,

There are people who buy a lottery ticket and win, the VAST majority don't.

People go to Oxford uni and yes some do end up homeless.

The VAST MAJORITY of people who go to uni do not end up homeless. You have to look at what tends to happen to people when they do/do not have an education.

There are ALWAYS exceptions to the rule, but I would say get an education, ignore bulldozer, how can he trade options without having a grasp on mathematics? In my opinion he's waiting to be wiped out.

50k? in his late 20s? So bloody what? Get a job with an investment bank (minimum 2:1 degree), and by 27/28 you could be earning over 100k, now that's worth doing!

I personally trained as a doctor (family pressure!) before I left to read mathematics at UCL (university college london). This has served me well throughout my life and I would recommend you do the same!

Very few of my friends who went to uni have done badly, whereas a lot of my friends who left school at 16 ended up nowhere. Think about it.

 

[bulldozer]

Paddy ,
I hope you understand my posts better than some of the guy's here?!!

I did NOT say DONT go to Uni.

Only you can decide if you want to go to Uni! And nobody can decise for you not even your parents.
You have 3 more yrs to decide. Use those 3 yrs wisely and stay on the financial boards. You never Know what FATE can throw at you! There are a few older and wiser guy's on this board [t2w] who would be willing to share theire knowledge and it would also be a pleasure for them to help you. But you have to have the God given gift to know the ARS>>les from the GEM's.
Someone may offer you a golden opportunity from these financial boards that will open the gates to a successful future beyond your wildest dreams. These next 3 yrs could turn out to be the most important time in your life.
Use the PM facilities [private message] a lot more. Some people dont like to share thiere knowledge with all the visitors and ARS...LES. If you are invited to meet someone take a grown up with you [parent uncle etc]
Stay away from those that make accusations/judgments/asumptions about others when they not even met the people or know very little about them. These people give nothing away for free and they have nothing to give anyway.
You have asked them to get this thread back on Options many times but they are now unwilling to help you because your just 15 yrs. To hell with these guy's go to a diffrt thread/board and if you have to tell someone your age do it through the PM.

Education in all subjects is fruitfull regardlees what age you are!. Your interest is Options/futrs
stick with it.
Have you read the first 5 chapters of Proverbs?

 

[beeryboy]

With all due respect what the hell does the book of proverbs have to do with options?

 

[bulldozer]

YOU MAY BE GOOD AT SPELLING AND GRAMMA BUT YOUR READING IS VERY POOR AND YOUR MEMORY TOO! I TOLD YOU NOT TO POST TO ME! ars...e Not many people are impressed with your comments, accusations, asumptions, JUDGMENTS ect.......

Secondly, The chapters of PROVERBS were recommended to Paddy and not to ars...es.!!!


Paddy,
Its amazing how some people claim to be clever at english,spelling,gramma etc, but they are crap at reading.
Did anyone suggested that you should stop school?? Did anyone give you any wrong advice?

You are correct when you said "any fool can trade ftrs" there is nothing dificult about ftrs even a ten yr old can pick winners. You are also correct when you said only the smart ones show a profit at the end of the tax month/year!!

Everybody gets good opportunities in life, but only the smart ones can SEE them and grab them before they vanish!! There are many ars..es in this world who think they are smart, but they cannot SEE a good opportunity when it presents itself. [God bless them, I love them!!]

I also dont think you said that Nick leeson was your HERO/roll model. You said Nick Leeson saw an opportunity to get from the bottom floor [clerk] and to get to the top floor as a trader with a good bank that gave him MILLIONS of £ to trade.
And if Leeson was abble to see/get those oppotunities so could YOU! I think this is what you ment! and not to be a ROGUE TRADER like him!

When you do/if decide to ring the brokers for work experience here are a few tips:
1. Tell them you love this game and you want to be a brilliant trader/dealer.
2. Tell them you know ways how to bring in new clients.
3. Tell them you also know how to get clients from their competetors [they love this one]
4.Tell them that you have a special gift in spotting errors and ars..es. [they love this one more]

Once you get in, get in touch with me and i will show you how to get clients for your firm.
Also, those clients will always be yours and you can take them with you, if you ever decide to go to another firm.

Read proverbs with your eyes WIDE open! The gems will leap at you. The ars..es of this world cant see them because they are blind fools. [first 5 chapters]

Bull
You dont need to be a genius to have common sense, but you NEED common sense to be a genius.

 

[beeryboy]

This post is for all but bulldozer,

I believe bulldozer is full of sh!t and should be banned from the boards as he has nothing to contribute and spouts crap, whilst knowing, what seems to be, nothing about options and touting religious nonsense.

Any opinions?

 

[RogerM]

Guys.

Having just come back from a week away I have deleted the last 3 posts because the debate was getting abusive. The title of this thread is "Delta Neutral Trading" and it would be helpful if those that wish to contribute actually discussed this essential aspect of understanding the way in which some option strategies can work rather than trying to score points off each other.

If you take exception to what someone is saying, either let it pass or ignore it - there is no need to retaliate and post personal attacks

I will be reading the rest of the thread in my own time and maybe editing further.

Sunday afternoon. Further editing now done. A number of posts have been pulled and others amended for personal content without affecting the options related message.