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I am TS. Have only started trading options on shares in the last few months. I only write options. Mainly vertical spreads, covered and naked positions. I have much to learn and would like to move into selling options on futures.
I am humbled by what I have read on the threads and look forward to my journey through this forum.
I have traded on and off for some 20 years, with pauses in between time, partly self induced and partly obligatory. Self induced because I wanted time out and to re structure my life and holdings in Thailand, where I currenty live! I married a Thai lady and moved here 14 years ago.
I began trading in 1999 and had an incredible good run of 8 winning trades off the bat trading just one particular price bar type - spikes and tests in the futures market. Following my pride I traded the JPY futures and lost nearly all my profits in 2 days, which brought me back down to earth.
Since that time I had a broker run off with my money and it took 18 months to get back 80% of my money, then I had a close shave with Man Financial, where most of you will know of this problem broker, I took out my money just one week before they went bust and re structured the company. OUCH! PHEW!
I used to trade in those days purely end of day, with risk in the region of $500 plus plus plus, per contract and then I had to telephone in my order each time and again to move my stops!
Those were the good old days. I am sure if you have traded long enough, you will also remember these times!
Today I day trade with little more than $100 risk per contract, so much easier also with internet connections and almost instant fills! The last four years I studied Wycoff methods and trade only with volume and volatility and price action at levels, nothing else required for me. I hated the messy charts I used to create and it's a relief to have vision and clarity with what I see and trade.
I dont trade everday, but I look for specific setups and trade when I see what seems to me to be common sense and logical. I have the attitude that I am in no hurry to lose money! I remember Tom Williams (sadly deceased) once said " If you can learn to not lose money, your are bound to make some, sometime soon" That was excellent advice!
I learned many tricks of the trade from Tom, mostly about "Smart Money" as he called them. So I trade based on what I see the smart money doing, this means market manipulation!
I have created my own indications and trade them with a degree of satisfaction as they are my own observations and creation based on everything I have learned about volume and volatility!
So there is my introduction, not too lengthy I hope, yet informative enough for you to know who I am!
I work construction looking to move onto something a little easier on the body.
I've been fascinated with the stock market my whole life.
I'm still just studying for now.
Plan on trading OTCs