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To: Jock Hutchinson who wrote (17098)	2/18/1999 3:52:00 PM
From: Bill 49M	Read Replies (1) \| Respond to of 25814

Of course it is true that you need a 100% gain to breakeven once you are down 50%. But starting out on each fresh trade, 50% is the same, going either way, up or down. So if she does win twice as often as she loses, of course she will come out ahead. But does she really win twice as often as lose. That's the rub. I know I can't do it!

To: Jock Hutchinson who wrote (17098)	2/18/1999 9:03:00 PM
From: Jerome	Respond to of 25814

Jock Hutchinson, Your math is impecable. That's what makes trading options so difficult. The options you win at have to be at least triples to offset those that you get wiped out on. One year I made 15K in profit trading options, but my commisions were 12K. I was taking the risk and the brokerage firm was making the money. I now trade far fewer options, assume far less risk, and make more money. However, when you make six times your money in 45 days it does highten ones self-esteem. (for the moment). A few carefully chosen at the money call options purchsed on horrible down days seems to yield the best results. When people brag up their winnings I usually suspect they are amnesic on their loses or are telling less than the whole truth. Almost as bad as fishermen. Good luck tomorrow,...Jerome