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Glad there's a good comment somewhere! From my identifying author as a
'broker' with that OIO outfit here is but one reply I received privately:
In a message dated 98-06-03 14:39:21 EDT, you write:
<< Reply-to: t-bondtrader@xxxxxxxxxxxxx
To: realtraders@xxxxxxxxxxxxxx (RealTraders Discussion Group)
>>
YES !!!!! he burned me BAD !!!!
Most people, I venture to suggest, start out in trading with options.
Usually buying them 'for the limited risk' and then selling them because
'ninety percent of options expire worthless'. If they haven't been bled to
death with the former, over time decay, or been hit with the sudden move,
with the latter, that made them part of the 'ten percent' then they get
killed by the sort of hype and outrageous commissions, fax services, etc,
that abound in the world of options.
Some move on to trading the underlying where at least there is a sort of
honesty about losing your shirt. You buy the market and it plummets...
you sell it and it goes to the stars... Then, if you are really detirmined
you start all over again and learn to trade. You may even use options
again - in certain circumstances.
Talking real trading for a moment...
Did you notice how the Bonds closed on the High of the day, with the S&P
falling away - promptly taking a tumble to close on the Low of the day?
Now, here in England, my Globx screen is showing the Bonds having fallen
from their High of 122 evens to their Low of the session and, guess what,
the Spoos are 5 points up at their High of the session. It seems this
contrarian business (and the flight to quality) continues overnight...
It is 2.20 in the morning in Chicago, as I close. Only five hours till the
Bonds open. Have a good day...
Bill Eykyn
-----Original Message-----
From: John Armstrong <mrktwiz@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, June 04, 1998 3:14 am
Subject: Re: GEN - Options book
>>Bor wrote: Sometime in late June a new options book titled " Trading
Options Visually" will be available from Paul Forchione, publisher is
TradeWinds
>
>Paul is my broker, this gentleman is both astute in his knowledge of
>options on futures especially, and has considerable breadth in his
>overall market knowledge. I have been trading with him only a short
>while, but have found him to be most compitent. I plan on buying 4 books
>of his as presents for clients and my father.
>
>For whatever that's worth, that's my two nickels.
>
>John- In cloudy Santa Cruz, darn where this summer we keep hearing
>about?
>
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