4 ms·

yep my wife and I. we retired from tech ( startups) at 50. In order to keep out minds working AND make a buck we decided to both trade options. Luckily for us

yep my wife and I. we retired from tech ( startups) at 50. In order to keep out minds working AND make a buck we decided to both trade options. Luckily for us we have chums who own a trading environment that teaches people, like us, how to do this effectively and so we set off on our adventure. Very quickly into this I decided to code up a trading analysis dashboard which gave us guidance as to the REALITY of our approach. This coded in Python and Dash based on the math taught to us by a good chum who is a retired floor trader from the Cboe. Pretty successful one I might add. We read the financial times ONLY twice a week ( Fri and Sat) to find out what others are thinking but our REAL trading happens in the math. So I suppose it's an amalgam of tech and new adventure. The trading takes about 20 minutes a day and for the rest to the time we are out and about having fun in Chicago. I'm looking at a language called Julia to move to from Python but that is NOT going well and I am planning on chatting to the Carbon people next month. Hope this helps a little

cosgrove 4y ago
What is your general approach? Selling premium? Earnings announcements? Do you frequent any online communities of professionals, or is it just you, your spouse, and your mentors? Beyond wanting to learn alternative approaches myself, I help moderate a local trading group. We are always looking for presenters in our monthly meetings.
- mrsofty 4y ago
  Yes we sell premium. I suggest you listen to the www.tastylive.com people, they are pretty sharp and realistic. We do NOT listen to anyone but the math and our mentors who help us add realism to the approach. Pure math is ok but, as Simons showed, you need a little guesswork in there. We use graphical representations of complex data sets ALA Tufte.
  - majikaja 4y ago
    Is this a sponsored comment?
    - mrsofty 4y ago
      no but it is a fair question we are in no way compensated by anyone. it was an honest answer to the question.
- adamsmith143 4y ago
  Please don't do this. Virtually all day traders lose money and the ones that don't are almost certainly running on luck. If you really had an edge in the market you would open a hedge fund and rake in billions. Everyone else is just playing the law of large numbers and the winners happened to flip 50 tails in a row.
  - majikaja 4y ago
    There is a continuum between making $0 and billions as a trader.
  - mrsofty 4y ago
    I agree but trading OPTIONS is not day trading. It is based on probability and DURATION. Selling premium allows you to pick your duration,probability of profit and value at risk. This is NOT day trading which is financial sugar. This is the message that tastylive.com advocates. I am NOT compensated by them but they ARE people I trust and respect.
    - adamsmith143 4y ago
      >I agree but trading OPTIONS is not day trading. It is based on probability and DURATION. Idk if you bought a course from them or what or why you are convinced that trading Options, at home as a non professional trader is somehow NOT day trading. >Selling premium allows you to pick your duration,probability of profit and value at risk. This is NOT day trading which is financial sugar. So you have non zero probability of profit which you are almost certainly miscalculating and some value at risk. Aka you are not guaranteed to make money and if the market does something unexpected you will in fact lose it. You seem to THINK you are more sophisticated or safer than the average Robinhood options trader but you really aren't...
  - mrsofty 4y ago
    Nope options allow you to choose your probability so it's NOT 50/50. We tend to sell premium with prob of profit of 80 - 90% it's less premium YOU are mistaken.
selimthegrim 4y ago
Interested to hear more about your experience with Julia!
- mrsofty 4y ago
  I was in Silicon valley for most of my time, lucky to have Tom Perkins as our Chairman and Ceo for our first startup as he taught us how to ignore the "shiny" tech. Our experience with Julia has led us to believe that it's a language with a great future behind it. We're going to work with the Carbon guys to highlight lessons learnt.
  - selimthegrim 4y ago
    I look forward to any blogs or publications you have forthcoming.
    - mrsofty 4y ago
      sorry, not sure why we would post a blog or write anything on this topic. It's just our practical experience based on trying to use julia. What I can say is that we were VERY impressed with DataFrames.jl and Pluto.jl the people on discourse were excellent. In fact the community was top notch but there were too many red flags for us. I think the Carbon people seem to be taking an interesting route and we will discuss our issues with Julia with them when we meet up. This could be a case where late moving advantage pays off. Sorry to have given you the impression we would write anything.

cosgrove 4y ago

What is your general approach? Selling premium? Earnings announcements? Do you frequent any online communities of professionals, or is it just you, your spouse, and your mentors? Beyond wanting to learn alternative approaches myself, I help moderate a local trading group. We are always looking for presenters in our monthly meetings.

mrsofty 4y ago
Yes we sell premium. I suggest you listen to the www.tastylive.com people, they are pretty sharp and realistic. We do NOT listen to anyone but the math and our mentors who help us add realism to the approach. Pure math is ok but, as Simons showed, you need a little guesswork in there. We use graphical representations of complex data sets ALA Tufte.
- majikaja 4y ago
  Is this a sponsored comment?
  - mrsofty 4y ago
    no but it is a fair question we are in no way compensated by anyone. it was an honest answer to the question.
adamsmith143 4y ago
Please don't do this. Virtually all day traders lose money and the ones that don't are almost certainly running on luck. If you really had an edge in the market you would open a hedge fund and rake in billions. Everyone else is just playing the law of large numbers and the winners happened to flip 50 tails in a row.
- majikaja 4y ago
  There is a continuum between making $0 and billions as a trader.
- mrsofty 4y ago
  I agree but trading OPTIONS is not day trading. It is based on probability and DURATION. Selling premium allows you to pick your duration,probability of profit and value at risk. This is NOT day trading which is financial sugar. This is the message that tastylive.com advocates. I am NOT compensated by them but they ARE people I trust and respect.
  - adamsmith143 4y ago
    >I agree but trading OPTIONS is not day trading. It is based on probability and DURATION. Idk if you bought a course from them or what or why you are convinced that trading Options, at home as a non professional trader is somehow NOT day trading. >Selling premium allows you to pick your duration,probability of profit and value at risk. This is NOT day trading which is financial sugar. So you have non zero probability of profit which you are almost certainly miscalculating and some value at risk. Aka you are not guaranteed to make money and if the market does something unexpected you will in fact lose it. You seem to THINK you are more sophisticated or safer than the average Robinhood options trader but you really aren't...
- mrsofty 4y ago
  Nope options allow you to choose your probability so it's NOT 50/50. We tend to sell premium with prob of profit of 80 - 90% it's less premium YOU are mistaken.

selimthegrim 4y ago

Interested to hear more about your experience with Julia!

mrsofty 4y ago
I was in Silicon valley for most of my time, lucky to have Tom Perkins as our Chairman and Ceo for our first startup as he taught us how to ignore the "shiny" tech. Our experience with Julia has led us to believe that it's a language with a great future behind it. We're going to work with the Carbon guys to highlight lessons learnt.
- selimthegrim 4y ago
  I look forward to any blogs or publications you have forthcoming.
  - mrsofty 4y ago
    sorry, not sure why we would post a blog or write anything on this topic. It's just our practical experience based on trying to use julia. What I can say is that we were VERY impressed with DataFrames.jl and Pluto.jl the people on discourse were excellent. In fact the community was top notch but there were too many red flags for us. I think the Carbon people seem to be taking an interesting route and we will discuss our issues with Julia with them when we meet up. This could be a case where late moving advantage pays off. Sorry to have given you the impression we would write anything.