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Showing content with the highest reputation on 12/31/16 in all areas

  1. I started with Steady Options last January and paper traded until February when I went live with Kim's system using a $10,000 allocation for the year. Below are a few snap shots of my trading analytics. I'm very happy to report a net profit for the year 2/19/16 - 12/30/16 of 22.7%. Keep in mind that this is my own trading - warts and all. I've made a few egregious (and some less so) mistakes along the way and through it all managed to make a profit. I hardly ever get as good as Kim's fills but I do my best to setup the trades when he starts looking and simply execute as well as I can. I seem to be getting better every month. Thank you to Kim for providing an excellent service that is both profitable and highly educational, and thank you to all of the regular contributors to the Steady Options forums. Edward
    4 points
  2. Thanks again for sharing your experience @eudaimonia Couple small comments/suggestions: 1. Always remember that this is an ongoing process. After being in the stock market business for almost 15 years, I'm still far from perfect and improving all the time, and I'm doing this full time. The key is to realize that it's like any other profession and requires continues learning. 2. Regarding fills - this is a very good advice. And since our setups repeat cycle after cycle, you will get better and better each cycle. 3. Adjusting straddles is not critical. We do it to stay delta neutral, but some members select to let the winners run. Remember that if the stock moves and you adjust, and it continues to move in the same direction, you would be better without adjusting. Of course if it reverses, adjusting would produce better results. Over the long term, the results should not be dramatically different.
    1 point
  3. @krisbee, Since others might have the same questions I hope it's ok to just respond in the thread rather than PM: Yes, I made mistakes like hitting the ask and paying the full price on a calendar or two. Or putting on the opposite position and having to reverse. Fortunately, I learned quickly from these but all warts are reflected above. I use this tracking software for all of my trades and the tags are custom. For purposes of what you are seeing here, SO and Edward are the same (I filtered the tags to exclude non SO trades and trades done in accounts for my wife). This is another custom tag. I used it to refer to SO trades like the SPX butterflies and RUT broken wing condor. I also use this tag for other trades beyond SO. Yes, everything was through IB. How I managed to improve my fills over the year (still not perfect): 1) When Kim says he's looking at a trade that is the time to start working your orders, 2) use IB's feature of OCO and go for multiple strikes as appropriate to the stock and strategy, 3) Sometimes I didn't get filled. Sometimes I chased. As I said this is very much my imperfect trading. As far as how to improve in the future? Look above at the stocks that did well this year - maybe ok to chase those for a few cents but don't chase the losers and the sub $1 calendars. Pay too much on a $.35 calendar and you will regret it. Also, you may notice that I started avoiding straddles and strangles. Adjusting these is too much work for me since I have a dayjob. So I let these go. Thanks.
    1 point
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