yeah , well optimal poker skills include understanding of game theory, odds, ranges , frequencies to determine plus or minus equity value. maybe missing a couple more information indicators but you get the idea im sure.
I could be a good talking head. I've got it down. We could do the "Dave Show". You could have Bass and I on there on a daily basis giving our opinions while you baffle everybody with charts.
I caught Cramer (5 minutes worth) the other night. It was one of the very few times that I have ever seen him. IMO, after 5 minutes, I was convinced that anybody that would listen to him would have to be a complete fool.
He was banging on buttons that make noises and he hops around like that Elf Geithner. What an obnoxious SOB!
They probably just come natural to you now after playing so long. It is probably like driving a car.
I dig the light shows except when they burn modems out and computers. One time my VCR caught on fire when lightning came through the line. I had to open the sliding glass door and toss it out into the yard. That lightning hits right here and about blows your ears out. One time I was standing by a telephone pole in Aurora and lightning hit the wire up by me. Everything turned blue and there was a big blue ball on the line that took quite a while for it to disappear. That was a really wild one.
Now it is nice and quiet out now (just distal thunder and some rain). That is Colorado for you!
Thank the trading gods I decided to go in small after I decided to do these options trades on my own... the first few I did on my own were intermediate term, and that was costly, so I finally tuned it down. Though I'm winning, I didn't have the emotional ties to the trades, which helps a lot in developing/following rules, and it could have gone the other way, which you'll see if you keep going and don't set any stops, is a sure way to get into a run of 95% losses really fast. These things can move like pennies, I have two 1 day trades that I booked just over 100% on, so you can see how easy it is to book a 95% loss - which in this game is 100%... as the value generally is a nickel until expiration.
I think that's key whenever you switch trading styles or get into a new game like the pennies. Until I have about 30-40 of these option trades under my belt and an ok record, under different market conditions, I'm keeping the same price limits.
I guess the hedge on my show is that I draw 400 lines on each chart and tell the audience that one will hit... eventually... lol.
Seriously though, how many times did those clowns call the bottom is in... and then in march said that we are in big trouble. Actually, I saw a great vid, which I should post a link to, from one of the greats, who just looked down when asked about the news and basically said he believes they are paid somehow to pressure retail into going the wrong direction.
We had a storm out here in San Diego once, and I got an email forward from a friend, showing the news story... "San Diego swept by Storms" or something along those lines. Then there was a picture of someone's backyard deck, and one of those white plastic outdoor chairs was tipped over.
They have to be paid. I don't listen to any of the punditocracy pertaining to stocks. They are so far behind that when they report it the action is over with. That in itself is a great lesson - nobody is going to make money from the T.V. people.
I believe that T/A and DD are the only things that give you leverage and odds with stocks. Now with pennies, if a goat farts it is worth 3 ticks. Pennies are so news driven that it is insane. Forum after forum all sound the same. Either they are elated or they are depressed while waiting for a PR.
I love this forum, because we can discuss things and all know each other after a while. This is a cool place.