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Interesting. To continue the analogy, I would point out that a player's edge is determined by: 1. his/her ability to either "count cards" or at least have a heightened sense of "table awareness", assuming only one or two decks are in the shoe. This skill can mitigate, to some degree, the effects...

I wish I had some of the money back that I spent on indicators and systems for Ninjatrader. I am not a believer in indicators, but I am convinced that the algos monitor double top/bottoms and triple top/bottoms as well as breakouts from Donchian channels or similar setups AND highs/lows from...

I am not a volatility trader, so please take these comments with a grain of salt. Len's VXX system has been successful, but here's food for thought. I recently spoke with Karen at OV about another matter. Since we are "old friends", we briefly discussed other matters including the VXX system. I...

Jim....good wit and excellent advice. I hope that starry-eyed traders dreaming of Teslas, mansions, and evenings spent among the glitterati take your advice to heart. Trading can sometimes be more akin to mud wrestling than neurosurgery.

Hi Marcas. Yes, I remember Eccles from my neurophysiology courses in medical school and my fellowship. I have always had an abiding interest in philosophy, and I am aware that he is also known for some of his philosophical concepts. However, I am not intimately familiar with his work. Best of...

Yes, Marcas, the decision to trade full time is a daunting one. For me, it was a bit different. In my late forties I knew that my career as a neuropathologist was, of necessity, drawing to a close because of retinal problems and the decline of fine, detailed vision. I had been interested in...

Typo....meant low volatility.

Hi Steve. No, I look at the "gestalt" of the risk graph, and adjust the strikes to a configuration similar to this one: here is one on XLY (very liquid) which I launched about 10 minutes ago. Of course, I only use this strategy in relatively low volume environments on underlyings which...

Hi Daniel. Here is today's screenshot of the SPY campaign diagonal I showed you yesterday. Nice long vega response to a small market decline. The front leg (soon to be rolled) is down 8 cents on theta decay and the back leg is up 15 cents. This campaign was launched on Nov 23.

Hi Daniel. I don't mind sharing, but my system for SPY and other ETF diagonals is completely different from yours. I use puts in order to avoid dividend-related problems. Here is my current SPY position, which is about 3 days old. i will roll the short soon. I have morhped my system from 2...

My longs are 17 Feb. I use 9 to 11 DTE for the rolling shorts. I sell about 25 to 30 delta shorts and roll at 10 delta or 70% of cash flow (approximately). The key is to choose the long leg carefully.

Hi Daniel. I studied the VXX system and opted out, but not based on hard evidence. I, too, heard some rumblings. Personally, in low vol environments like this, I like to trade campaign diagonals in selected ETFs. I currently hold positions in DIA, IWM, and SPY. I just started the first two after...