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  • Market Meltdown: Greece, Others Race To Default [View article]
    "OH!!! So we have to join your site (the one with a security warning) before we can see your trades?"

    No, you don't have to join the site. You can take a FREE TRIAL just to verify the trades. ALL of them are documented and archived, with screenshots of my fills. Do you offer one of those FREE trials? Didn't think so.

    And no, there is NO security warning - in fact, the site uses https connection (unlike your site).

    So now you pretend to KNOW what Fed will say and how it will impact GLD? The risk of that trade was still 100%, no matter how you present it.

    Sorry that I had to respond again, but just couldn't let you continue with you spreading misleading info about our site.

    Just let it go Phil.
    Jun 17, 2015. 03:51 PM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    SteadyOptions: "We offer a combination of a high quality education and actionable trade ideas."

    You claim not to post your track record because you are a teaching site. If you are both a teaching site AND trade ideas site, then your readers/potential members would be interested how successful your trading ideas are. For that, they need full list of trades, not cherry picked. You are trying to have it both ways and use the excuse that you are a teaching site to not post track record.

    The details of all our trades are on the members area. Everyone can take the free trial and verify all the trades. That includes: the underlying, the strategy, the strikes, the entry and exit dates, even position sizing. The performance page includes summary of the trades - entry/exit dates, strategy and P/L. I find it ironic that you don't have even the monthly breakdown, but ask me for all the details.

    To all readers: I do apologize after Phil dragged me into this discussion. All I did was asking a simple question about his track record. This (totally legitimate) question caused a series of ugly personal attacks.

    As I said, whatever makes you feel good. This is my last response to you.
    Jun 17, 2015. 01:31 PM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    We present full list of trades and breakdown of monthly performance. You present NOTHING in terms of performance tracking, and you call mine VAGUE? That's ironic.

    You presented the GLD trade to SA traders. Are you assuming that all of them are HNW investors or fund managers that don't need risk disclosure?

    You are claiming to be in a different league, but trying so hard to discredit me - why? But you are right, we are in a different league. I'm in the league of (very few) honest and transparent services that have full disclosure of their track record and put their money where their mouth is. You are not in that league.

    If you are a teaching site, you are not supposed to share trading ideas. If you do share trading ideas, you must disclose full track record of those ideas. You cannot have it both ways. Sorry.
    Jun 17, 2015. 12:21 PM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    "By the way, for those of you late to the party, even though you missed the 0.50 entry on GLD last week - it's only at 0.68 and will pay $1, up another 47% if GLD closes over $113 on Friday (now $113.32)."

    That trade is 0.55 now. Any advise to those poor suckers who listened to you and bought at 0.68? Cut the loss or "hope" for recover, with only 2 days to expiration?

    This trade tries to predict very short term movement of highly volatile instrument like GLD. To me, it is gambling, not trading. But that's just me.
    Jun 17, 2015. 10:54 AM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    "By the way, for those of you late to the party, even though you missed the 0.50 entry on GLD last week - it's only at 0.68 and will pay $1, up another 47% if GLD closes over $113 on Friday (now $113.32). Gold has to hold $1,180 for it to work out - but that's what we projected last Wednesday and our outlook hasn't changed since.

    Even taking Steady Options performance at face value, there isn't a single MONTH on their chart where they returned 47% going back to 2011. I'm telling you how to make that much by Friday afternoon!"

    This is where you compared your single GLD trade to our monthly performance. Sorry pal, it's right there in your comments.

    And yes, our portfolios are not virtual like yours. They are real. We put our money where our mouth is. First principle of trust and transparency.

    I just showed you three examples of our recent trades (NFLX, SPX and VIX).

    GLD is $112.70, but it doesn't really matter. What matters is the fact that you presented this trade as potential to make 47%, but no word about the risk. And the risk is 100% loss, and all it takes is less than 1% decrease in GLD. For a stock like GLD, 1% move is nothing.

    Unlike you, I always START the description of my trading ideas with the potential risk, not potential reward.
    Jun 17, 2015. 10:44 AM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    I actually do read your stuff. All I can see is "we already booked xxx gains in xxx futures (or stock). No mentioning of any losers. EVER. Do you have 100% winning ratio Phil?

    And you still didn't explain why you compare performance of your single trade to my monthly return on the whole portfolio? And where are your returns? Link please to your portfolios results? Why you call your portfolios "Virtual"? Is it because they are hypothetical trades (unlike mine, all real trades)?

    Why is BS now?
    Jun 17, 2015. 09:58 AM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    So once again Phil, it was not my intention to attack you like you do to me. it was not my intention to suggest you are not a good trader.

    All I asked was to see list of all your trades, or at least monthly breakdown. Very reasonable request. I regret that you turned it to a personal war against me and my service.
    Jun 17, 2015. 09:09 AM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    You want examples of my recent trades? Here we go:

    Entered NFLX double calendar on June 5 (long Aug, short July 25), average price of 8.40. Exited June 15, average price 10.20. Gain: 21.4%

    June 1: Entered 2050/2100/2150 SPX fly at 11.00, exited on June 5 at 13.75, 25% gain.

    May 25: Entered VIX put credit spread at 2.10, exited at 1.75 debit 4 days later, 38% gain.

    You want more?

    Those were REAL trades that I executed in my live account? Are the trade you share real? Your website says those are "Virtual portfolios".

    We don't throw hundreds of trades and see what sticks. This way it is very easy to pick few good ones. I have never seen you mentioning any of your losers. Are there any? Instead, we select just 12-15 best ideas each month. Well selected, well researched trades.

    And no, we don't encourage members to blindly follow us. It is in fact right at the beginning of our FAQs:

    "SteadyOptions is an educational forum. My goal is to share my experience and to help you to become a better trader. The trading alerts are based on my real trades that I'm sharing with subscribers in real time. SteadyOptions is not a recommendation letter and I am not a financial adviser. I see my first mission to educate you about options. I don't believe that one can succeed by blindly following someone else. You need to understand what you are doing. Ask questions. Concentrate on your education, not on a short term performance."
    Jun 17, 2015. 09:07 AM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    "Actually, if you understood options you'd know that GLD can slip to $112.68 and you'd still break even and of course we're not advocating putting 100% of a portfolio in a single trade"

    Correct. But if it goes to 112, you lose 100%, don't you? And this is what I mentioned. If you don't put 100% of a portfolio in a single trade, then why you compare performance of a single trade to my monthly return on the whole portfolio? How is it even relevant?

    "Also, there is no rule against linking to your own site in comments"

    Few of my comments have been deleted by SA because I did that.

    "Why is it OK for you to tell me to go to your SA articles when you willfully ignore mine"

    I don't ignore yours. All I asked for was your track record. A very simple request. If not list of all trades, then at least monthly performance.

    Take a look: http://bit.ly/1BiA1ty
    "Look at the performance of the service. Is it easily accessible? Does it list every trade or is it summarised? Are the results clear, understandable and unambiguous? Can you download them on a spreadsheet to run your own analysis? Are the results real or potential? In other words, did trades actually exit at a certain price, or is the performance based on the maximum possible that could have been attained as the price fluctuated?Never subscribe to a service that does not post actual, trade-by-trade results in a clear, understandable way."

    Not my words.
    Jun 17, 2015. 08:54 AM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    You keep posting examples of your trades. I don't need examples. I go back to my initial question. I want to see ALL your trades performance. FULL track record. Similar to what I post on my performance page. Similar to what any decent service does.

    First red flag is when a service doesn't publish a track record. I mean, if the track record is so good, why would you hide it? Why would you give just a random list of winners and not a full list? Is it too much to ask from a service that costs thousands of dollars?
    Jun 16, 2015. 10:55 PM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    And yes, you are right, the other two services are still open. They are newer services and have different profile, so we can take more members than SteadyOptions flagship service.
    Jun 16, 2015. 10:41 PM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    I didn't post a direct link because contributors are not allowed to post links to their own commercial websites. So thank you for doing it for me.

    You are saying you cannot find any trades? How about scrolling down on the performance page, where you can see all 2015 trades. Then scroll to the bottom of the page and there are links to previous year trades. Again, ALL of them, not cherry picked. Posted in real time on members area.

    As I mentioned, I used to post trades in my SA articles before the options category was discontinued. They are not hard to find - just go to my SA profile and click on Articles. There are trading ideas in almost every article.

    As for 47% gain on GLD - are you serious by comparing a gain on a single trade to monthly return on the whole portfolio? Would you place your whole portfolio into a single trade? We make our returns by allocating only 10% per trade and keeping around 50-60% in cash most of the time. And we do it without predicting the direction of the market or single stock.

    What you "forget" to tell your readers is that if you are wrong and GLD goes to 112, which is only 1% move, you lose 100% instead of making 47%.

    Sorry, I forgot - you cannot be wrong. But this is the difference between you and me. I structure my trade the way that even if I'm wrong, I don't lose much. In fact, only small percentage of our trades has lost more than 15-20%.
    Jun 16, 2015. 10:39 PM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    "Maybe its where that phantom Apple link went?"

    If you keep repeating it, it doesn't make it true. That link was simply a seekingalpha.com... link that got cut after ".co" Try to cut and paste "seekingalpha.co" and you will see that somehow it take you to that covered calls website. Nothing to do with me.
    Jun 16, 2015. 09:42 PM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    Link to my trades? It's right on my website. I'll help you to find it: it's the sixth tab from the left. ALL my trades. Winners and losers. Not cherry picked. Not after the fact, but in real time, fully documented and archived, with screenshots of my fills. Could you help me to find a similar page on your website?

    Why would I need to do a commercial for my service? If you go to the subscription page (the fourth tab from the left), you will see "Closed to new members". All I did was asking you a simple question, and you turned it into a personal attack against me.

    Whatever makes you feel good..
    Jun 16, 2015. 09:28 PM | Likes Like |Link to Comment
  • Market Meltdown: Greece, Others Race To Default [View article]
    They claim that SA audience is more "investing" oriented, as opposite to "trading" oriented. This is why they discontinued the options category (at least this was the official reason).
    Jun 16, 2015. 05:58 PM | Likes Like |Link to Comment
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