mish, speculating on market movements is enough of a gamble, when you introduce the exponential leverage of options, it makes it lottery odds.
i would dissuade most lurkers and readers from using options, other than in very, very, small doses and only when risk/reward ratios are weighted way more in the reward area.
>>>I might add it is VERY VERY easy to get carried away with a few early successes. Next thing you know is that you have increase your lot size and then you lose your ass. (made a ton/lost a ton myself)???
i've had the same experience as you, got rich and gave it all back, the lure of big options gains is intoxicating as smoking on a crack pipe and just as dangerous.
i really laff at people that are still on si that are regular traders that are braggin about buying calls or poots,
because 99% of option players are sent to the minor leagues, if you have done well so far,
consider keeping your winnings and cooling it for a while,
big option wins go to your head and make you feel omnipotent,
arrogance and lack of money management skills are the best components to send you to the minors. |
