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So again risk and money management makes the difference.
It also seems that there was someone gamma long on that day, waking
up on the right side of the trade and maybe riding the move down and
up, eventually selling the gamma at a higher implied when lucky.
I sell gamma, but then I prefer to buy the wings...
Soeren
--- In realtraders@xxxx, "Research Dept." <research@xxxx> wrote:
> Hello soeren,
>
> i just love this
>
> the guy setting 10 feet from me had the exact same puts sold
as
> niederhoffer - the difference was that he had the 10 million in
needed
> margin to stay with the game. also that next tuesday we had
the
> oddball system (the very one that was published in active trader
mag.)
> gave a buy signal (look and see) i gave him the chart it bought
at
> 10:00 am as i recall. upon looking at that chart he began
buying
> futures and stocks, adding on to THE BET. thats how he handled
it.
>
> ssgd> But cut that: what is his risk management philosophy all
about, eg.
> ssgd> how did he manage several large moves, like the day
Niederhoffer went
> ssgd> broke after selling S&P puts?
>
> ssgd> Rgds,
> ssgd> Soeren
>
>
>
>
>
> --
> Best regards,
> Research mailto:research@x...
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