Thank You

I must admit that I was blown away by the comments that were left in regards to yesterdays post. Mike made a comment that said "Since I am not selling my site, why do I care so much." I have been thinking about that comment ever since I read it yesterday. I finally think I know the answer to that question...."I don't know."

The idea of starting this site has been entertaining and challenging. I like the thought of passing ideas, concepts, and trades back and forth with one another. Not only so that you can learn from me, but also that I can learn from you. We all have the same underlying goal of being productive traders, and the total number of eyes and ears we have here can be dangerous...meaning we are putting together an enormous trading research department. I looked at this project as a big opportunity for all of you, but for myself included. I look forward to the time when we are all passing ideas back and forth and contributing nuggets that the group can use to become better traders. Going back to yesterdays post, when I saw that the interest might be dying off, I was taken back that perhaps nobody cares about the learning element and may only be here to find something to trade. After several comments that were left suggested otherwise, I have concluded that the numbers are not important. I will continue to talk about whatever I want. This may include trades, strategies, autism, reality television, my personal life, my golf game, things that piss me off, or whatever comes to mind. I will also continue to read your suggestions and comments. Whenever I am drifting off the path, I will rely on you to bring me back to life.

Now is actually a great time to take another step. I am soliciting all of you to come up with a concept or idea that you would like to write about so that it can be posted to the blog. It can be a trade, a concept, a strategy, whatever. If you are interested, e-mail me what you are going to write about, and as soon as it is completed, I will post it for you. A few people have mentioned their interest in this and some have already started their research. This would be a great opportunity to get your name out there within the group.

I'll be standing by. In the meantime, I will be posting again shortly.

Works for me. I missed the bulk of the presentation last night but a good Q & A as always. Investools and this blog address a very wide variety of topics for a very wide variety of skills and experiences. We all thank you, Jeff, for sharing with us and we all support you in posting whatever will on the blog.

Jeff,
As complete novices to trading just 5 months ago and now comtemplating doing spread and condors etc. I am amazed at the learning tools provided and guidance provided by you and Investools folks.

I still think there is a missing step because we are struggling with putting a structure arround our trading. We got exposed to too much information too fast and now are having conflicting thoughts about every trade we look at.

Some thought arround on how to go about structring your trading rules and trading plans would be very usefull information for other folks like us.

B/w breakout patterns, support/resistence bounce, MA crossovers etc we are loosing our selves in what and how to trade. We are very aware of oscilator divergences and are talking out selves out of most trades.

May be a discussion about how to go about build a trading system/rules for starter options traders might be usefull.

I applogize if this is too trival a project and I could be wasteing other folks time here but I think this is one thing that missed in all the training we have been through.

What are you thoughts?

Mahmood and Sarwat Akhwands

Jeff-

I know i've suggested this many times before, but i believe another incredibly valuable topic would be for you to pull back the curtain and let us all know how the professionals trade.

Tell us the tools that you use, the software, the 'business structure' of living off trading income. Tell us everything you can about the daily life of a trader. This is what i want to be.

Nowhere can i find information on how the real computer options traders do it.

This is my strongest request.

Thanks as always. You are a rare gem. Please continue to be as interested in this as we are.

Now I'm off to California to watch our Cornhuskers get waxed by USC Saturday.

Brett

Remember the saying quality not quantity. That 40 % were those who just weren't ready for what this blog has to offer. constant challenges, and always taking it a little deeper. The 60% here are serious and committed to doing whatever it takes to succeed. Don't give up, stay focused on your goals! that's what I keep saying too myself as I work my way through this process. By the way ,I like it when you mix it up. It's alway good to step back lighten up and keep things in perspective.

Looking forward to your next post.

Sarah

I agree with Brett, I need some guidance of how to to set up a "trading business" for tax purposes. Although some Investools presenters have briefly mentioned at seminars to set up a corporation, I have yet to find a good "how-to" guide for the trading business.

Obviously Investools is not in the business of handing out tax advice, so this may not be a good topic for MastersTalk. However, if you could outline a basic step-by-step process of what you did, who you talked to (not specific names of course but rather what types of contact people we should be looking for) how long the process took, etc. I think this would be really helpful to newbies like me!

Thanks!
Rebecca Scalise

Jeff,

I would love to see two or three examples of specific 5 step trading systems. Perhaps a long term stock system (like Kelly's), and then an option trading system (like yours). I think the overview of 5 step systems you did in MT the past several weeks was awesome. Showing two or three specific examples of systems would really tie it all together.

I would also like to see how a day trader works. Is it different than what we discuss.

Rebecca, you might consider consulting a CPA or a Tax Attorney regarding a corporation. The $100 or $200 fee for the initial consultation is well worth the money.

Hi Jeff,
I can only speak for myself, but I am much more interested in your knowledge than looking for a trade. With the knowledge, we can find our own. Better to teach a man to fish than to feed him. That assumes he likes fish.
Rick

Jeff,

I would like to hear how started in the options so young and managed to become such a wonderful trader. Sometimes, with all the tech information we forget the trading psycology.

Rodrigo

Jeff,

A couple of suggestions for subjects. I have heard talk about the relationship between the housing market and the overall market. Today I heard that the housing market and the overall market tend to trend in opposite directions. Perhaps you could address these type of relationships or sector rotation. Also, I would like to know what your thoughts are on targeting trades on potential takeover targets. This week someone mentioned that a bank is positioning itself to be bought. I hope you like these topics. I appreciate your willingness to share with us.

Jeff H.

I'd like to hear more about your favorite trading strategy: breakouts. I realize that your style is discretionary, but do you try to make it as systematic as possible? Do you always buy on the breakout? How do you determine when its best to wait for a re-test? Do you risk the whole amount when you buy OTM? etc.

Regards,

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...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT... ...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...

About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
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