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  1. Past hour
  2. Michael, Any strategies you'd be willing to share with us?
  3. Today
  4. We'll see. Have a good day!
  5. I didn't think so.. And yes, making 100%+ gains around 90% of the time IS an absurd claim. Lets see your directional trading results in real time.
  6. I'm certainly not the world's best trader, but at the same time I'm not making an absurd claim. Since I don't currently have fully documented trading results neatly tabulated to present at this point, I'll have to present them at a later date. To successful trading.
  7. Well, 100%+ 90% of the time would probably make you the best trader in the world.. By large margin. I definitely cannot compete with those results. On the other hand, my results are fully documented. Our non-directional trading produced 82% 5 Year Compounded Annual Growth Rate (including commissions). I still have to see directional strategy consistently producing similar results (or even half of it). I mean, not some absurd claims, but fully documented track record, with portfolio allocation etc.
  8. Your statements about non-directional strategies are well taken. I completely agree with you that everyone should find what works best for them and stick to it. For me directional strategies have proven to be very profitable. In reality I usually get 100%+ gains around 90% of the time, and I have never had a 50-70% loss selling options. Thanks again for your feedback.
  9. There are many ways to trade options. Directional strategies might work for some people. It is true that non-directional strategies usually limit your profit potential. But with directional strategies, profit potential is unlimited only in theory. In reality, how many times did you get 100%+ gains? And how many times did you lose 50-70% or more? It also impacts your position sizing. When you know that your risk is limited to 20-25%, you can allocate larger positions to those trades. Also, don't forget that there are many types of non-directional strategies. Some strategies bet that the underlying will not move much. Others like straddles need it to move - just doesn't matter which direction. The bottom line is that everyone should find what works for him and stick to it. There is no holly grail, only hard work and discipline.
  10. Yesterday
  11. I understand why an options trader might prefer using a non-directional trading strategy rather than, as you phrase it, "bet on the direction of the markets or individual stocks". These non-directional trading strategies certainly minimize your loss potential, but at the same time limit your profit potential. With proper risk management directional trading strategies can be even more profitable and you can unwind the trade at any point you see the market starting to move against you. With sufficient amount of research and analysis on a specific stock you can predict where the market won't go to in the allocated time frame (expiration month) rather than trying to predict where the market for that stock will go to in the allotted time frame. There's a hugh difference in the two approaches. In the second approach, which I don't want to take, I'm making a guess at where I think the market will end up at the end of option expiration. That's the hardest game to win. Nobody is that good at figuring out the where and when of a market move. But, if you are somewhat good at having at least a general idea of which way the market is headed (either higher or lower), you can also make a pretty good guess as to where the market probably won't end up at option expiration. When you sell options, your only concern is for the market to not go pass the OTM option strike that you are short. That's the key. And when you have a general idea where the market probably won't end up at option expiration... you're chances of a profitable trade are pretty good.
  12. Last week
  13. That was very nice of them to inform their customers of this.
  14. Just fyi, after inspecting some trade confirmation statements, Tradier subtly started passing through a 0.05 per contract "OCC clearing fee" yesterday. Here was their reply when I inquired about it: There is an OCC fee of $0.05/contract, with a max of $55, that Tradier Brokerage is now passing through to customers. We have been covering this fee since it was first introduced, but we are no longer doing so. Unfortunately, this is a fee that will apply going forward for option transactions. Please see the OCC link below for further information.
  15. Wanted to write a short bio as well. I trade options since about 20 years. I started very young with the idea to double my money every few weeks needless to say I burned my account a few times back then. Thankfully very low amounts but it still hurt as back then that was a good chunk of my (non existing) savings. It still inspired me to pursue a career in option trading. So for 12 years I traded options for a number of banks. I survived the financial crisis while trading bank stocks and options (fun times). But I left years later when banks got out of trading due to more regulation, compliance and margin pressure. From that time I think I have a very good technical option knowledge. I traded my own money full time for a year after that. I was surprised how different that was from trading at a bank. I learned more about position sizing, discipline, psychology and myself as a trader than in the years before and I found that SO helpful for that. I had time to do extensive research on every trade Kim suggested and find my own trades and I would have my own timing and entry levels. I was quite active on the forum in that time and many of the well over 1,000 comments/posts I made are from that time. I’m back to a ‘normal’ day job since a few years now so have a lot less time for all of that and scaled my trading back to a few systematic, low maintenance trades – Steady Condors is one of them (I have my own setup and timing but its not too different what SC does). I’m trying to add a few single stock earnings trades back into the mix so I’m getting a bit more active again on the forum as well and will try to be helpful when I come across a question and as time allows. I will tend to pick up question that are option or trading specific (Greeks, assignment, trade setup… etc) as I will only be in a handful of trades a quarter so will have little to say about the specific setup of a particular trade unless I’m in it.
  16. The API they provide is very good: If you call/email them, they will give you your personal key, so that you do not need to worry about oath 2.0 authentication, which would be necessary if you developed software for somebody else. It is an important point, and will save a lot of time. Then you can use their /positions and /quotes API to get what you currently have open and the current prices (both underlying and options). Then you will need to use some heuristics to combine the legs into positions (date/time mostly). If the straddles are rolled, it gets complicated, as the positions need to be combined differently and the cost basis changes. But even without those complications with rolls, the information you get is already good enough and not less helpful than what, for example, TOS mobile provides.
  17. I am also giving this Tradier deal a shot and using ONE. But yes it is really painful to keep track of the positions, correct fills, etc. Even though I am not a developer I can do some programming, would you mind giving me just a quick jump start on what you this to get this script implemented please? I will truly appreciate it.
  18. My experience starts in the 90's when I used to do phone trades with commodities. With the internet and such I passed the Series 7 and started trading stocks with Bright Trading in 2001 for a few years in their heyday. That tapered off a few years later with the introduction of high frequency trading. I just couldn't compete. I traded both stocks and options on my own after that with mixed success. Good enough to keep going but not making much. I have tried many services and am surprised when we actually get openings for new members, as Steady Options is easily the best out there for retail option traders from home. I hope to contribute by answering questions from these new traders as they come on line with us. The regular newbie questions that get asked again and again, whenever spots become available. I trade and understand the official Steady Options strategies and will help there as much as possible (allocations, how to get well priced fills, some of the whys), although there are obviously quite a few very advanced and knowledgeable people here. I trade full-time and am usually available, however I have been traveling the past few weeks.
  19. Sort of; when Trump announced he's have a tax plan in a few weeks I figured the market was safe for a few weeks and bought a bunch of Mar17 $18 VXX puts
  20. This is similar to what we do with VXX strategy.
  21. Funny how Chris' posts kinda died in 2013... maybe I'm missing something but do not see it carried on anywhere else... I really like the strategy and will be testing it in my portfolio. Are you doing this as well @Noah Katz?
  22. I have not tried any of the ones you mentioned, I use ONE but I have seen others use Optiovue and it looks like very good software but very expensive compared to ONE. No experience with the others though.
  23. I realize the "house" software here is OptionNet Explorer. However, that is a windows-only platform and they do not have mobile support. Surely there is a better option, or at least one that has similar features that runs on multi-platform. Has anyone tried any of the other platforms and compared with ONE software and mind sharing your perspective? Thanks in advance.
  24. I decided to follow Chad's lead and post a short bio. My path into the options world began in the mid 1990's with hedging commodities: wheat, cotton cattle, oil. I am a producer, own and operate a small farm and worked in the oil service industry for years and now retired. I began options and futures trading to reduce price risks for production and began speculating some directionally in equities. I found over time I was not a very good directional prognosticator which led me to non directional delta neutral approach. Like Chad I went thru the Sheridan Mentoring program which I highly recommend. I am a full time trader and enjoy the options world and looking forward to helping anyway I can. Also, I have been a member of this forum about 4 years and I can say with confidence that Kim and all the mentors he has chosen to take part are well versed in options and SO strategy and will not lead you astray.
  25. Earlier
  26. I'm in a similar situation...I use a Mac. Although I do have Parallels, I don't like to run Windows programs unless I absolutely have no other choice. Every time I start Windows, it takes 30 minutes while it patches itself and reboots multiple times. In any case, has anyone tried any of the other software recommended by Tradier?
  27. While many traders are already using the non-directional strategy, some are still learning it. In conventional trading method the traders use to think that market runs in a single direction and predict prices accordingly to buy and sell things. Directional trading strategy no doubt is a very risky especially when the market runs in the opposite direction. This is when the role of non directional trading strategy comes in. The following infographic explains what is a non-directional trading, and gives some examples of non-directional trading strategies.
  28. Not sure if this is the best place for this question. However, while waiting for my Interactive Brokers account to be approved and funded, I'm looking at software options. Unfortunately, it looks like ONE software is Windows only. That's a non-starter for me as I run Mac here. Every time I fire up my Windows virtual machine it has to spend 30 minutes patching and thanks. Can anyone recommend any modern software that runs on Mac?
  29. IB don't make deals and don't bargain. Their rates are already low enough. Another thing that I like about them - you don't need "negotiating" skills to get a great rate.
  30. I'm opening an account at IB and wondering if there is a promotion code or partner code to use for SO members?
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