Newbie option returns (how are you doing?)

[pjsmith]

Hi All,

I am an options newbie. I've been actively trading for the last couple months.

I am looking to gauge my progress/success vs others in the current market as I have no idea if this is reasonable return or not ( to me, coming from 0% bank interest, it's obviously a fantastic step in the right direction!).

Since November, I traded around 186 contracts and made a return of just over 3% on my total pot (not roc). My wins are very evenly distributed, i.e. no majority losses and a few big winners.

I'd love to compare.

Paul

 

[gerryg]

I am wondering what BO strategy you've chosen to make such prolific results? I just started to trade hotforex BO, but lack of my knowledge greatly impacts on my outcome.. Can you help me with advice?

 

[NVP]

hey there

any results in the black is good ...........so well done ..........and I hope this is not a set up thread


N

 

[pjsmith]

Hi,

Thanks. Actually now at 4.03% percent, though I'm sure that can change quickly (down!). Not sure what was meant by the 'set up 'thread'. I've nothing to sell, if that's what was meant. I do not know anyone else that trades (it's a lonely but enjoyable hobby), so my question was an honest one. I really have absolutely no idea what others consider normal returns for non-professionals trading options for income and of course asking a trader what they make even if I knew one..., hence my post. I'm very happy with returns to date, but have no idea if I can maintain that over a decent period, nor if it is considered reasonable, poor, or otherwise. I will continue to try and improve, but it's always nice to gauge ones success, or failures against people doing the same.

Gerryg : 'prolific results' - not sure about that, but I'm very new to options. Not someone to be giving anyone else advice. I know little about forex trading.

I hope I can keep it going for 12 months and review then, with a similar outlook.

 

[bezzer11]

Hi,

Thanks. Actually now at 4.03% percent, though I'm sure that can change quickly (down!). Not sure what was meant by the 'set up 'thread'. I've nothing to sell, if that's what was meant. I do not know anyone else that trades (it's a lonely but enjoyable hobby), so my question was an honest one. I really have absolutely no idea what others consider normal returns for non-professionals trading options for income and of course asking a trader what they make even if I knew one..., hence my post. I'm very happy with returns to date, but have no idea if I can maintain that over a decent period, nor if it is considered reasonable, poor, or otherwise. I will continue to try and improve, but it's always nice to gauge ones success, or failures against people doing the same.

Gerryg : 'prolific results' - not sure about that, but I'm very new to options. Not someone to be giving anyone else advice. I know little about forex trading.

I hope I can keep it going for 12 months and review then, with a similar outlook.

I assume you are primarily positive theta on your portfolio? what brokerage do you use?

 

[TraderRod]

If you're making winning trades following a set strategy, then you should be fine. But if you're making random trades by using gut feeling then I'd be inclined to stop trading for a while until you can device a rigid and proper plan to follow.

 

[bezzer11]

If you're making winning trades following a set strategy, then you should be fine. But if you're making random trades by using gut feeling then I'd be inclined to stop trading for a while until you can device a rigid and proper plan to follow.

+1

 

[pakretired]

I am an options newbie. I've been actively trading for the last couple months.

I am looking to gauge my progress/success vs others in the current market as I have no idea if this is reasonable return or not ( to me, coming from 0% bank interest, it's obviously a fantastic step in the right direction!).

***********************************************

Hi Paul, I too am an Options Newbie - and I find myself here because I really need to get my act together - I've been totally wrong on the market direction several times and lost the whole trade (luckily they were calls) and then on the other side I lucked out with a couple of home runs so I am just about even.

I'm finding the Canadian Market to be very low Volume - while the US market can be so volatile that I end up glued to my screen for fear of the big loss. I came to this site to learn how to protect against option losses (like a trailing stop loss for stocks)...

Anyhow - I have a lot to learn - that is for sure...

Patrick

 

[pakretired]

I assume you are primarily positive theta on your portfolio? what brokerage do you use?

Hi - can you tell me (as a real newbie) what you mean by theta (and 'positive theta') - I've seen something somewhere about the Greeks - does this relate?

Thanks,
Patrick

 

[simon61]

Options

Hi there,

Are you buying Options or selling Options.

 

[simon61]

Trading

Hi guys,

Take a look at this site, a really great show.

www.tastytrade.com

 

[pjsmith]

I am an options newbie. I've been actively trading for the last couple months.

I am looking to gauge my progress/success vs others in the current market as I have no idea if this is reasonable return or not ( to me, coming from 0% bank interest, it's obviously a fantastic step in the right direction!).

***********************************************

Hi Paul, I too am an Options Newbie - and I find myself here because I really need to get my act together - I've been totally wrong on the market direction several times and lost the whole trade (luckily they were calls) and then on the other side I lucked out with a couple of home runs so I am just about even.

I'm finding the Canadian Market to be very low Volume - while the US market can be so volatile that I end up glued to my screen for fear of the big loss. I came to this site to learn how to protect against option losses (like a trailing stop loss for stocks)...

Anyhow - I have a lot to learn - that is for sure...

Patrick

Hi,

Why not give non-directional limited risk strategies like iron condors a try. You won't have to watch them constantly and you will limit your losses. I see you mentioned TT. They are a fantastic resource. Spend your spare time there and you will learn a lot.

Good luck!

Paul

 

[bigmistake]

do you mean Binary Options?