Re: [TheOptionClub.com] I have paid more than my share of dues in these markets

 

Vik, I couldn't have said it better. I'm a big fan of Dan Sheridan, and his mantra is to treat options trading like a business. He's come up with numerous examples to emphasize his point. One of my favorites is a guy opening up an Italian Beef Stand in Chicago. You don't just open the doors and HOPE people come in. You have to have a plan in place. HOPE is the emotion of losers in the markets. You plan for war in times of peace. There is no HOPE involved. You put on a position and know exactly what to do under any circumstance.

Personally, I'm worried about a black swan event occurring some time this year. What are you experienced options traders doing to protect your trading accounts from potential overnight max loss in each of your positions. I love knowing ahead of time how much a particular position can lose, and also knowing that you can adjust or just get out if things get hairy. However, there are always those long weekends when anything can happen. Any thoughts?

RFH

--- In OptionClub@yahoogroups.com, Vik <vikas.basantani@...> wrote:
>
> Paul, you may not like this but your two statements are contradictory in
> nature...
>
> If you have done trial & error and are sufficiently educated, you wouldn't
> be HOPING for the market to stay where it is. I am hoping you will take this
> in the right spirit and will understand the "true" meaning of my comment.
>
> Good luck!!!
>
>
> On Sun, Jan 10, 2010 at 4:25 AM, paul7313 <paul7313@...> wrote:
>
> >
> >
> > now I expect to reap the results of my education and trial and error.
> > just hope the markets stay the same
> >
> >
> >
>

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