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good post, I too trade consistently, never risking over 2% of capital on any
one trade I was short for this move also, it was a complex head and
shoulders breakout and the measured move was at least to the 940 area basis snp
cash.
Peter G wrote:
> RTs:
>
> Good for Gary. I'm glad he had a good payoff. I too had a score in OTM
> options the last time we had a big sell-off. It was a smaller overall move,
> but the percentages were probably similar. However, the market continued to
> rally and I dumped my strategy of pre-guessing "the Crash" and holding
> useless options.
>
> Talking about managing money is little tacky, though.. I understand he's
> excited and that's great, we can all understand getting jazzed, but there
> are other channels for soliciting capital.
>
> That said, for anyone to try and emulate his trading on his vague
> description would be dangerous. I trade futures, that's my way. A lot of
> RTs trade options, like Gary. That's what they do. If you're just looking
> for an approach, you have to search for yourself without biases and without
> hoping to make 1000% returns in three weeks.
>
> I've been watching the S&P and Dow for a while, looking for weakness, as
> I'm sure we've all been. It is a once in a lifetime opportunity. I'm hoping
> we'll have a nice rally at some point and then get to short again.
>
> To trade consistently though, you need to find more common and less
> spectacular opportunities. As I mentioned earlier, I'm much better off
> going for consistency and smaller profits than I am waiting for "The Big
> One". That allows me to control my drawdown. Maybe it's different for
> someone else... I'm just learning my own style.
>
> PG
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