Plain Vanilla Options Trades.

[dc2000]

[QUOTE]I have just come in. You see Spitlink....I have attained a lot of experience in dealing with crowds, but only in the past few years. I spent years and years in isolaton with all my meals served on trays and not going out (....not getting out much you see.... ..) and during this period which went on for years and engaged my attention and effort truly 24 / 7 I missed out a lot with regard to the collective behaviour of humanity. I succeeded in perfecting a series of seamless methodologies but was somewhat "naive" about "people" and the antics they could get up to in mainstream life.[/QUOTE]

At her majestys pleasure? or in the Brig

 

[SOCRATES]

[QUOTE]I have just come in. You see Spitlink....I have attained a lot of experience in dealing with crowds, but only in the past few years. I spent years and years in isolaton with all my meals served on trays and not going out (....not getting out much you see.... ..) and during this period which went on for years and engaged my attention and effort truly 24 / 7 I missed out a lot with regard to the collective behaviour of humanity. I succeeded in perfecting a series of seamless methodologies but was somewhat "naive" about "people" and the antics they could get up to in mainstream life.[/QUOTE]

At her majestys pleasure? or in the Brig

No, in my townhouse in Chelsea, in London.

 

[SOCRATES]

On the losing side of option trading the writer will always lose more than a buyer.

Bottom line is, since the writer doesn't own the option,SOCRATES doesn't have any control on the losses that could occur. he only needs one bad trade to wipe him out.

Nonsense, you had better stick to spreadbetting...... ...and not give opinions about that which you know Zero about.

 

[dc2000]

No, in my townhouse in Chelsea, in London.

Chelsea Hmmm thats a long way from Oxfordshire

 

[SOCRATES]

Chelsea Hmmm thats a long way from Oxfordshire

Yes it is, the further away you are from us the better....

 

[laptop1]

Nonsense, you had better stick to spreadbetting...... ...and not give opinions about that which you know Zero about.

I have been banned from spreadbetting by two firms now.I use IG for hedging... I use Berkeley Futures for my trading, I was the first trader to be offered the new IQ platform that some big banks use. So this will give you some idea on what kind of margin my trades take up..You are small fry sir. 18k in a month you claim to have made. I have lost 35k in one day. could you cope with that amount of losses in one day. I am not 100% profitable like you. I'm only 67% profitable, but year end I am always in the Black only one losing month last year and that was because I left a stop in the market that I forgot to remove....You are small fry mr Socs..

Ha ..I see you have taken you symbol down..Did I frighten you. you must have read about it in depth. :cheesy:

 

[dc2000]

Soc
Curious, if everything is known in advance then how did you blow your wad in the early days??

 

[stoic]

Soc
Curious, if everything is known in advance then how did you blow your wad in the early days??

I think you know the answer to that: he had to learn.

Please, this is Socrates' thread, you might as well leave him alone. He's not going to reveal anything, to anyone, so let him be, and you can decide at the end.

I can relate to this period of isolation in order to achieve something Socrates, and very few people are willing to do it, but that's another story for another time.

 

[SOCRATES]

Soc
Curious, if everything is known in advance then how did you blow your wad in the early days??

You get yourself involved in too much gossip. You ought not to get involved in gossip and instead sort your head out, because believe me, it needs sorting, urgently, but I am not the one to do it. Find someone else to do it by clouting your thick skull hard with a mallet, is the best advice I can give you.

 

[SOCRATES]

I have been banned from spreadbetting by two firms now.I use IG for hedging... I use Berkeley Futures for my trading, I was the first trader to be offered the new IQ platform that some big banks use. So this will give you some idea on what kind of margin my trades take up..You are small fry sir. 18k in a month you claim to have made. I have lost 35k in one day. could you cope with that amount of losses in one day. I am not 100% profitable like you. I'm only 67% profitable, but year end I am always in the Black only one losing month last year and that was because I left a stop in the market that I forgot to remove....You are small fry mr Socs..

Ha ..I see you have taken you symbol down..Did I frighten you. you must have read about it in depth. :cheesy:[/Qlaptop1 vbmenu_register("postmenu_297653", true);
Senior Member

Join Date: May 2006
Posts: 498

Its been a hard year for me, only made 40k after Tax hope to do better next year

Have a great Christmas everyone and a happy new year
UOTE]

Post number 12, dated 24.12.2006 in the thread Happy Xmas and a Prosperous New Year... ...by Laptop 1


So what is this all about ?

And what about your post on Elite in which you boast of an $87 million fund ?

What is all that about ?

Waste of space you are..... ...get a life !

 

[starspacer]

Class pure class........

Why thank you dc. An allegory often paints a 1000 words. :cheesy:

 

[counter_violent]

Why thank you dc. An allegory often paints a 1000 words. :cheesy:

"affect" "effect" ...thats my only niggle.....

 

[PKFFW]

Those are Star Chamber matters not suitable for dissemination in a public forum.

But even at a rock bottom statistical level "it is obvious, it is screaming at you"...as Pod G says, because the buyer has only 1 chance in 3 of getting it right, and because the writer has 3 chances out of 4 of getting it right. So just grasping at a rock bottom statistical level is sufficient to illustrate and prove the point that the writers have the edge over the buyers.

So let me get this straight. Trader A and trader B make a series of 100 trades between each other. Trader A wins 75 trades at a profit of $5 per trade won. Trader B wins 25 trades at a profit of $100 per trade won. You would argue trader A has the edge over trader B?

At a rock bottom statistical level trader A won 3 out of 4 trades so he has the edge going by your logic.

I still know which trader I would prefer to be.

As your definition of edge seems to change with the wind throughout this thread, I would suggest what you are really trying to say is that the Writer has more ways of profiting than the Buyer. This is a simple statement of fact and requires no trades to be proven correct.

If you are trying to extrapolate from that statement that there is some inherent edge to writing over buying then you must come up with a specific definition of edge first in order to prove that hypothesis. You must then come up with an experiment that accounts for all possible variables to test that hypothesis. If the hypothesis passes the test then the hypothesis is proved.

So I'm still waiting with an open mind to be shown proof one way or the other.

Cheers,
PKFFW

 

[Splitlink]

I have just come in. You see Spitlink....I have attained a lot of experience in dealing with crowds, but only in the past few years. I spent years and years in isolaton with all my meals served on trays and not going out (....not getting out much you see.... ..) and during this period which went on for years and engaged my attention and effort truly 24 / 7 I missed out a lot with regard to the collective behaviour of humanity. I succeeded in perfecting a series of seamless methodologies but was somewhat "naive" about "people" and the antics they could get up to in mainstream life.

When I finished and was satisfied all the methodologies were perfect I was then able to turn my attention to people. I became avidly interested in what can only be called Urban Anthropology, which is the study of the human creature in a modernistic environment. I approached this excercise according to my frame of reference which I thought was the norm.

I was in for a series of rude shocks. It caused me to change my posture because whereas till then I would be open to the idea of making allowances and excuses for the behaviour of people whose conduct was unacceptable...suddenly....one morning...my rubber band....my rubber band of tolerance and patience and generosity and goodwill...suddenly snapped.. ...with the consequence that I suddenly woke up to the reality of the carbunklery of humanity.

This awakening is formative, I assure you. In consequence of this I was forced to arrive at several conclusions, not about perceptions, but about stark realites relating to people and what I describe in other threads as "The Inabilities".

In direct consequence of these series of unexpected and bitter lessons, I was forced to modify aspects of my attitudes, leading up to my current posture.

For this reason you will read how it is that I make reference to rolled up newspapers, and the 74 Gun Warship, and recently added the bulldozer, the Maltese Bull with the horns in the groin and other allegories, because that is what they are, simply allegories which I share with a carefully selected and very small circle of individuals who are hand picked, and who are allowed to be "in the know" so to speak to the exclusion of all others as to the real meaning of these allegories.

It therefore means you must not take my statements literally, lest the conclusions you arrive at are the wrong ones.

For this reason I have been taught among other things, not to be generous with one's hard earned knowledge and expertise and to guard one's edges at all cost.

I'm, really quite disappointed that, after all these years, you could magine that I would take much that you say too seriously. Nevertheless, I respect your right to keep your edges to yourself, I doubt that anyone posting here is much different, unless he is a complete newbie, trying to learn from the bottom up. For their sakes, instead of trying to make the writing of naked put options sound so easy, you should emphasise the risks involved. I'm sure your ego would love that. It involves explaining how difficult, dangerous and foolhardy such a strategy is and that only you, and others like you, are capable of considering it.

The bottom line is that we shall never know how good, or bad, your trading decisions are any more than you know ours and so it is not much use being rude to each other.

Take care and I wish you luck

Split

 

[SOCRATES]

I have been banned from spreadbetting by two firms now.I use IG for hedging... I use Berkeley Futures for my trading, I was the first trader to be offered the new IQ platform that some big banks use. So this will give you some idea on what kind of margin my trades take up..You are small fry sir. 18k in a month you claim to have made. I have lost 35k in one day. could you cope with that amount of losses in one day. I am not 100% profitable like you. I'm only 67% profitable, but year end I am always in the Black only one losing month last year and that was because I left a stop in the market that I forgot to remove....You are small fry mr Socs..

Ha ..I see you have taken you symbol down..Did I frighten you. you must have read about it in depth. :cheesy:[/Qlaptop1 vbmenu_register("postmenu_297653", true);
Senior Member

Join Date: May 2006
Posts: 498

Its been a hard year for me, only made 40k after Tax hope to do better next year

Have a great Christmas everyone and a happy new year
UOTE]

Post number 12, dated 24.12.2006 in the thread Happy Xmas and a Prosperous New Year... ...by Laptop 1


So what is this all about ?

And what about your post on Elite in which you boast of an $87 million fund ?

What is all that about ?

Waste of space you are..... ...get a life !

http://www.trade2win.com/boards/showthread.php?p=311650#post31165

 

[andycan]

PKFFW

to answer your question 'everything is known in advance'
as some here know that i use geometry to tell me turning pointsand map the markets.
in a very simple scenario if a market made a low, then the market can only move in one direction. right?
naturally one has to know this is the low, without boring you on any one and as its off topic so apologies, how it made the low tells you how it will go up,
what i suspect Socrates and starspacer are saying in layman's terms is that if you know its a low then it has to go up so the logical stance it to buy.
dont forget im referring to a simple scenario, but i think you get the picture

 

[dc2000]

You get yourself involved in too much gossip. You ought not to get involved in gossip and instead sort your head out, because believe me, it needs sorting, urgently, but I am not the one to do it. Find someone else to do it by clouting your thick skull hard with a mallet, is the best advice I can give you.

Soc dear boy you are quite simply a waste of space and a liar

I was never fortunate enough to have a proper mentor. I have had to unravel the whole riddle for myself, alone. You cannot imagine what a tough journey it is. It nearly cost me my marriage, my home, my health, my sanity and £600,000 in losses before I began to learn, and easily another £3,500,000 before I could say I had finally mastered all of it, including the markets and myself.

Your words not mine

A question was posted by another member asking you to post a screen shot of your trading platform showing current positions ETC

PUT UP OR SHUT UP!

 

[SOCRATES]

I have been banned from spreadbetting by two firms now.I use IG for hedging... I use Berkeley Futures for my trading, I was the first trader to be offered the new IQ platform that some big banks use. So this will give you some idea on what kind of margin my trades take up..You are small fry sir. 18k in a month you claim to have made. I have lost 35k in one day. could you cope with that amount of losses in one day. I am not 100% profitable like you. I'm only 67% profitable, but year end I am always in the Black only one losing month last year and that was because I left a stop in the market that I forgot to remove....You are small fry mr Socs..

Ha ..I see you have taken you symbol down..Did I frighten you. you must have read about it in depth. :cheesy:[/Qlaptop1 vbmenu_register("postmenu_297653", true);
Senior Member

Join Date: May 2006
Posts: 498

Its been a hard year for me, only made 40k after Tax hope to do better next year

Have a great Christmas everyone and a happy new year
UOTE]

Post number 12, dated 24.12.2006 in the thread Happy Xmas and a Prosperous New Year... ...by Laptop 1


So what is this all about ?

And what about your post on Elite in which you boast of an $87 million fund ?

What is all that about ?

Waste of space you are..... ...get a life !

http://www.elitetrader.com/vb/showthread.php?s=&threadid=69496&perpage=6&highlight=buzz&pagenumber=14


Here is the link to Elite showing all your nonsense for which you were given short shrift in no time at all, as you justly deserve.

 

[SOCRATES]

Soc dear boy you are quite simply a waste of space and a liar



Your words not mine

A question was posted by another member asking you to post a screen shot of your trading platform showing current positions ETC

PUT UP OR SHUT UP!

You have not a clue and never will have.

Unnecessary expenses are not profits, they are losses.

When you finally arrive, you learn how to avoid unecessary expenses.

But in you stage of evolvement this is not something you would understand and I have neither the time nor the patience to explain to you in detail, and, in any event it is none of your business, as you have only just arrived and I have been at it a lifetme.

And of course it is not really your fault you have the perspective you have if you yourself are not a meaningful player, and just tinkering here and there and taking positions out of ego and stupidity and pride in the vain event you can prove me wrong.

 

[starspacer]

http://www.trade2win.com/boards/showthread.php?p=311650#post31165

Perhaps laptop1 is excluding the interest he earnt on his $87m when making his calculations.

Now, let's say he earnt 5% on this money. So that's $4.35m. Add the 40k (let's be generous and assume £s). So, that's $72,000 on last year's average exchange rate.

So, in actual fact, it seems that laptop is underestimating the actual level of income earnt, which is in fact $4.422m.

Or not.....