Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Daytrading OEX options with a method, not a trading system -- Ignore unavailable to you. Want to Upgrade?

To: Gary E who wrote (35)	6/10/1999 8:23:00 PM
From: -	Read Replies (1) \| Respond to of 62

<Did everyone leave this thread?> HG, I have noticed there has recently been some interest in rejuvenating this thread. I am a private short-term stock trader with six years intensive experience, at Si I'm mostly active on the Daytrading Fundamentals, MB Trading, and internet-stock threads. I've traded the S&P Futures, Bonds, and the OEX options in the past. I've been able to make a lot of money with OEX's and the Spoos, but tend to end up giving it back. I've tried all kinds of 'trading methods' and systems. Eventually, I went back to short-term swing and day-trading stocks, where I've had achieved much better consistency and overall returns. However, I still have that hankering to go back to trading the S&P's and the OEX (in addition to stocks) which will allow me to also take advantage of movements in the overall market (most of my stock profits come from the tech sector). I'm looking for a solid trading method with well-defined entries, well-defined risk parameters, and a decent rate of return. It doesn't have to return 250% per year - I'm more interested in consistent returns, than in hitting a home run with this type of trading. After discovering "The Option Nerd" on this thread, I had a remarkably interesting conversation this week (3 hours, as I recall - whoops, I forgot to use his 800# ;) with John Summa. He is certainly a very sophisticated, level-headed, and tenacious OEX/S&P trader. I was impressed enough with his his depth of knowledge, and the techniques he's developed that I've registered for his course in Connetticut later this month [generally, I try to avoid trading courses like the plague, having already taken almost everything out there]. Of course, I'm eager to discuss developments with other "Option Nerds" out there, as I begin this fourth major journey into trading the OEX's and S&P's, to complement my stock trading. In my past adventures with these trading vehicles, (unlike with stocks) I've made a ton of money but usually end up giving most of it back. I was able to trade the S&P Futures in 5 and 10 lots for nearly a year full-time without taking serious damage (which I consider a major accomplishment <G>), and most of the time with the OEX I would make a big pile, then take a series of hits. I'm still net positive on my index trading, but not by much. Sure miss trading the market itself, though. Ultimately, if I were to become consistent enough over time with those two, who needs to trade stocks? Good trading, -Steve

To: Gary E who wrote (35)	7/1/1999 5:04:00 AM
From: -	Read Replies (1) \| Respond to of 62

I took John Summa's OEX/S&P training trading course this past weekend in Greenwich, CT and would like to share the following. John and his partners/staff are a class act. In the weekend course, they cover the setups, money management, and exit strategies they have developed which will allow you to successfully trade the OEX & S&P Mini in the class - no 'secrets' are left undisclosed; they explain all of their trading strategies, rules, and methodologies in detail. The OptionsNerd trading methodologies are very well thought out, researched and backtested -- consistent with conventional trading wisdom, while at the same time potentially very lucrative, if you play by the rules or monitor their real-time room and follow the (quite sound) recommendations. Plus (or if you are skeptically-oriented like me), they report all of their trading decisions in real-time, so there is not question about their actual performance including slippage, judgement calls, etc. unlike many other OEX advisories (how many day-trading rooms do that -stocks or otherwise?). In other words, they are for real. Great course, I heartily recommend it! My own credentials are over on the "DayTrading Fundamentals" thread (and on www.tigerinvestor.com, I publish trading technique articles there). I have no affiliation with OptionsNerd - just went there to refine my OEX technique. Good trading, -PATrader