Nothing wrong with richness as a goal I believe. Money is what makes this world go round and we all want it for different reasons. Some want 2 yachts, 4 Ferrari's and a house in Monaco. Some want freedom to travel the world. Some want to help people in need. Some want to buy influence etc.
Rembert - I don't know at what level you play our game; but for me a goal of richness would distract from my daily decisions.Originally Posted by Rembert
Look at every sport -- take golf for instance the moment you try to hit it very hard and far, it goes out. It is only when you hit relaxed and play at your own level that you get good results.
Not having a J.ob. and a b.o.s.s.; being free from money worries because you make enough is that already a great foundation for feeling happy.
Ernst
Hi Ernst,
No doubt you are very clever and adroit handling options, but I must ask: Is it not impossible for a robot trader to expect and average monthly income?
We may only realize a few chances every year to really make our money. At those points, we must be a tough guy, like Morales or Billy, and take the big swing, no?
To try optimize returns on a month by month basis would seem to be the luxury of options hands.
And a question: Can one sell puts against one's short position?
Yours,
Nick,
You are right -- if you would only trade the robot then the even distribution would not work.
But I think most of us, don't have Billy's discipline and only trade robot calls. I suspect most of us (me included) will enter other trades. And I have to admit - when the though of richness enters my mind - most of the time I will have the biggest loser of the year on my hand.
With your background you have some unique insight in the human mind. You could probably lecture us on how inaccurate the mind is as tool for unemotional decision making.
And yes, you could short puts on short stock.
Don't get me wrong, I agree that trying to force things will only backfire. I have a very very very relax trading style. And I have a day job so I don't have to worry about market gains paying bills.
That being said, my goal in the stockmarket is to make as much money as possible. One can only work a certain amount of hours in a day. To get rich you need a scalable business. And there's no business as scalable as trading the markets.
Ernst,
The human mind is very puzzling to me and many others, regardless of our credentials. I can write that I'm even puzzled by my own. Six months ago I knew the robot was the right route, but only now I have put this into practice.
So, from theory to practice, I know the human mind is often confused (the night of the soul, as G.W.F. Hegel put it) but in need of certainty (cogito ergo sum or, in the vernacular of the time, Je pense donc je suis, René Descartes).
The market is confusing; the robot does not provide certainty, only the probability of a given outcome, much like options. Unfortunately, as you agree, we cannot know when to put on a trade until the robot dictates nor can we know its success until it concludes.
Perhaps you could shine the light on selling puts to hedge a short position?
Posting Permissions
Reply With Quote