I can't point exactly to any dramatic changes that have happened. The
particular examples you reference each happened in unique environments.
Complexity usually is more pronounced when I make mistakes along the way and
have to get either a little more aggressive or just a little more creative.
What's been consistent over the last decade or so, at least, for me is the
utter "non-conviction" I have tried to develop in my trading (i.e. I don't
care where things are going, I only want to profit from a bunch of possible
scenarios). Further I continually try to develop ways to get to a situation
where I own "free" options regardless of where they happen to be relative to
underlying price.
If anything, what I continue to learn is more about myself and the
weaknesses in my own psyche that become crystal clear when I see them
reflected in the trade structure I construct. I can be saying out loud that
I think price will go up but if I look at what my position says and if it
isn't consistent with my expressed opinion, I am confronted with a strange
paradox that makes me reign in my trading (until I can figure why my actions
were different from my intentions).
The old saying is "everyone gets what they want from the market" and when I
can see that what I want from my positions isn't consistent with what I
think I want, then I have to start a little self-analysis to figure just
what the heck I'm doing. Maybe a little too confessional here, so I'll
stop.
-----Original Message-----
From: OptionClub@yahoogroups.com [mailto:OptionClub@yahoogroups.com] On
Behalf Of Ricky Jimenez
Sent: Wednesday, May 26, 2010 9:35 AM
To: OptionClub@yahoogroups.com
Subject: Re: [TheOptionClub.com] skill development [was : GS TRADE [was:How
do you manage your Vega?]\
On Sat, 22 May 2010 14:28:38 -0500, "mcatolico"
<mcatolico@mindspring.com> wrote:
>I've been trading for 25 years and I'm still learning.
Has there been a change since the previous examples, RIMM, AAPL and
GOOG that have been presented here? I have started to review them
and, at first glance, they seem to have been handled in a somewhat
simpler fashion, including intraday scalping in the RIMM trade. A
sort of iron condor was set up early and then duplicated and extended.
During expiration week, the shorts were bought back while the
underlying was in the body section, resulting in a strangle like, risk
free, position. Same goal but apparently not as complicated as the GS
trade.
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Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
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