The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
The more one uses underhanded tactics against one's critics, the less legitimate one appears. A person who is confident in his thesis/strategy would not be afraid to address issues and face criticism. Erasing comments is NOT the way to go to gain either credibility or respect. Disappointing, but again, what has happened in the past few months speaks VOLUMES about the author. Don't think that readers can be fooled. Many have read this and are able to see through a lot of this.
Kevin's student said that he is one of the most "patient traders". That is a little surprising since he has no patience for his readers at all. Questions are always deemed as not worthy of an answer, and posters who disagree with him deemed not worthy of his time. The only time he takes the time to answer is when praised. ummmmm....
You can prove me wrong by answering some of the questions asked over the past months.
SopranoFan, if you can still read this: thanks for educating us and providing good insight as well as asking good questions. I know now they won't ever be answered, but I've also decided this is not the place to find them anyways.
The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
Kim: Well-reasoned conversation and genuine questions do not seemed to be welcome here, whereas attack and name-calling by the author is okay? Upside down.
Are we just supposed to accept that 100% win rate is the norm and that no proof is needed? Sorry, not everyone is that naive. It's just unacceptable to me that when legitimate concerns are raised, the author/his student tell us nobody who asks can be a real trader and they simply cannot be bothered with us. Something is not right with this picture.
The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
You are being generous in saying to be "very careful". I'm going to come out and say I don't believe it. I think this is why people have been asking for trade details for months. If someone were so successful, why do they need to be so evasive?
Insightful comment about sample size. If I went to Vegas and put a nickel in the slot machine and won a couple of dollars, then never went back to Vegas, I could claim a 100% win ratio in Vegas. I could even say my win rate was 4000%. Then I can start a class and teach others how to gamble.
On a more serious note, I completely agree that the key to success is to keep winners larger than losers, calculate position sizing based on risk tolerance, and adhere to stops.
The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
ssgsriram,
I am not personally against anyone or anyone's strategy, and I don't read that from anyone who has posted here. From what I read, people are only asking questions, but Kevin only gets defensive and offers no substantive response or rebuttal. I have yet to see a professional and well mannered discussion.
Out of sincere curiosity, it seems that Kevin only started sharing his strategy late last year --- less than a year ago. How is it that you and your friends have had success with it for 18 months?
The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
"Having a month of time-value or more on your options will alleviate many of your worries."
Why in the world would a person need a month of time value for a day trade? There is no better way to blow your account than to turn a day trade into a swing trade.
"What is difficult for many new option traders to stomach is how bad a trade can look because of the leverage options have."
If you cannot stomach the movement, let alone the potential loss, you are trading too big.
"I am not a big believer in stop-losses. On a long position (months out) this can be very useful. However, on trades where you are expecting to enter and exit the same day, stop losses can be very problematic."
I vehemently disagree. Stop losses are essential. If stopped out, it only proves that your original entry point was not good. You can always re-enter a trade. It's not always so easy to get out once your losses start to mount. For example, you get into AAPL only to have it keep sliding another dollar or three (then another ten the next day if you held overnight). If you had a stop loss, you could have gotten in again once it stopped sliding and really started to reverse. You would have captured that much more upside instead of having to wait for your original entry point, plus the additional move it needed to make in order for you to be profitable. Or, you were proven wrong and got stopped out. If price showed you that the stock was actually going to continue its trend, you could actually reverse your trade and join the trend. If I'm wrong, I admit it and have the cash to make a clear decision for my next trade. If I'm wrong and remain stubborn, my judgment is usually clouded. If I'm wrong and start praying that maybe it will turn around tomorrow, that trade is usually in DEEP trouble.
I would really like to hear from some of Kevin's students who have taken the course and have had consistent results for over 6 months. All I've read are students who just completed the course... I wonder if people are actually able to stay solvent over the long haul.
Weekly Meetings In San Diego, CA Or Chicago, IL [View instapost]
And we are surprised? Each person's track record speaks loud and clear. Mr. Klaiman is transparent with his trade activities while Kevin only appears when he claims to have hit a home run, but with no supporting data. Therefore, Kevin is correct: The two cannot be compared. Only one of them is legit. Good luck to anyone who STILL wants to take his course.
Use Caution Buying CF Industries Call Options At This Level [View article]
gl: I already tried to ask a few times. No answer. It would be enlightening to see intelligent conversation. There was also a promise to post trades whether Passion did it or not. Promises not worth much around here.
Use Caution Buying CF Industries Call Options At This Level [View article]
I agree. It has become clear to anyone who can read: No substance in any answers. Not much substance, period. A couple of questions had the ability to ignite all of this. Unbelievable. I thought an author writing on a topic would want to converse with readers. Guess not.
Good luck in your trading, Passion. Your method is good.
Use Caution Buying CF Industries Call Options At This Level [View article]
I see that I was once again dismissed even though all I did was ask questions. Mind boggling how answering questions posed about your own strategy and trading is seen as attacks or in the least not worthy of answers. Don't you think it's a bit paranoid to put everyone into the enemy camp who don't come out to praise you and your method?
Use Caution Buying CF Industries Call Options At This Level [View article]
I have refrained from stating the obvious, but it has come to a point where all other efforts have been futile. Probably along with a lot of readers here, I've figured something out: Kevin does not want to give straight answers, except if you give him positive comments. Instead of posting trades or answering any questions directly, he resorts to insults. Instead of giving critique, he resorts to diversion --- like asking his readers to write an article instead of answering right here. If he is able to, why doesn't he? If I were an author, I would defend my thesis in every way I can, if for nothing else, to silence my critics. When people don't do that, I know something is awry.
I am not expecting anything from Kevin anymore. Until proven otherwise, I really don't think he give more than what he has already given---- which is a weak strategy based on lagging indicators alone. IMHO, it is imperative to have a definitive answer to why one would enter a trade other than what a few lagging indicators suggest, and an answer to where one believes that trade is headed and why. Also, if your original thesis is wrong, you must also plan ahead where to exit. Jumping in based on lagging indicators and randomly placing a 0.60 or 1.00 is a strategy that needs a lot more work. I would still read the thread to see what Passion is up to in his/her trading since that is the most interesting and helpful part about this thread.
I'm trying to help you here, Kevin. Do yourself a favor and give some answers.
By the way, CF is looking good today. It retested yesterday's low and made a steady climb all afternoon before consolidating. I would like it more above 208.50 or so. Below today and yesterday's lows I would not be bullish short term. What do you think, Kevin?
Use Caution Buying CF Industries Call Options At This Level [View article]
Passion- I'm not holding my breath. Kevin himself offered trade details and did not follow through--- as usual. I think many here have been waiting. Have a suspicion it will never happen. Just more excuses as usual.
Use Caution Buying CF Industries Call Options At This Level [View article]
Kevin, you wrote: "Not a surprise that you will not participate, but I will do so anyway. This will include all my trades, times, profit, you name it."
I've been waiting with anticipation. You posted one trade with incomplete details that nobody can actually verify, then no more. So, have you just not made additional trades? I am interested because I actually want to know how many trades a day the strategy generates for its developer.
Use Caution Buying CF Industries Call Options At This Level [View article]
I asked Kevin the same thing not too long ago. Seems my posts have been deleted. So let me try again:
Kevin, you were the one who issued the challenge. Passion posted multiple trades --- all legit and can be verified, and all posted with rationale to support thesis. You posted one then disappeared, only to come back with insults, which are now gone. Anyways, it would be great to see your trades from this week if you made any other than PCLN. If you did not, why not? Did your indicators show any other trades this week that worked out or didn't work out?
glworden: with all due respect, their methods are completely different. Passion trades price action while Kevin reads indicators regardless of whether there is true supply or demand at those prices. Take for example FB today. It was piercing that Bollinger Band and I don't have those indicators set up, but I guess anyone could check to see where it would have shown "oversold" somewhere during the morning slide. But it just kept going down because it broke a major pivot and no support underneath. Can't go long just because it's oversold. Sure, the method could work (lots of ways COULD work) but with higher risk. Because trading is about probability, you must trade your plan. If you have to rationalize why you can't trade your plan because oversold really isn't oversold, then you bring a subjective and perhaps emotional variable into your trading which will decrease your probability of winning. Coupled with a vague plan of maybe day trade maybe swing trade and hold it until it works in your favor makes it even higher risk. Sometimes, the trade will eventually work in your favor, but sometimes, the option premium decay will have killed your profit and then some. Trading is about probability. If you stick with the same indicators, your trades will work out some of the time according to the law of probability. But whether that's the best way (or even a good way, I would contend) to trade is the question at stake. That's why some people have posted that they read the indicators but price keeps moving in the same oversold or overbought direction. Knowing how to trade price action and identifying areas of support and resistance swings the probability in a trader's favor. I like my profit too much to trade an inferior plan. Otherwise, I could toss a coin to go long or short at the beginning of each day and it will work 50% of the time if I have the money to play indefinitely.
I also read that there are people who have had 100% track record with Kevin's method. That is highly suspect. However, knowing anything about probability tells you that it is possible to get only heads if you tossed a coin only so many times. Toss it more times and eventually, you'll get a tail. I'm sure Passion's method will generate losing trades as well. The key is to use whatever method that swings probability in your favor and lower your risk.
Just my two cents. Let's have a civil discussion, Kevin. Post and discuss your trades, please? If you would, critique Passions' trades.
This is an odd article to have this particular discussion. Glad I found it.
The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
Kevin's student said that he is one of the most "patient traders". That is a little surprising since he has no patience for his readers at all. Questions are always deemed as not worthy of an answer, and posters who disagree with him deemed not worthy of his time. The only time he takes the time to answer is when praised. ummmmm....
You can prove me wrong by answering some of the questions asked over the past months.
SopranoFan, if you can still read this: thanks for educating us and providing good insight as well as asking good questions. I know now they won't ever be answered, but I've also decided this is not the place to find them anyways.
The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
Are we just supposed to accept that 100% win rate is the norm and that no proof is needed? Sorry, not everyone is that naive. It's just unacceptable to me that when legitimate concerns are raised, the author/his student tell us nobody who asks can be a real trader and they simply cannot be bothered with us. Something is not right with this picture.
The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
Insightful comment about sample size. If I went to Vegas and put a nickel in the slot machine and won a couple of dollars, then never went back to Vegas, I could claim a 100% win ratio in Vegas. I could even say my win rate was 4000%. Then I can start a class and teach others how to gamble.
On a more serious note, I completely agree that the key to success is to keep winners larger than losers, calculate position sizing based on risk tolerance, and adhere to stops.
The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
I am not personally against anyone or anyone's strategy, and I don't read that from anyone who has posted here. From what I read, people are only asking questions, but Kevin only gets defensive and offers no substantive response or rebuttal. I have yet to see a professional and well mannered discussion.
Out of sincere curiosity, it seems that Kevin only started sharing his strategy late last year --- less than a year ago. How is it that you and your friends have had success with it for 18 months?
The Issues Of Weekly Options, Risk, And Comments On My Daily Options Strategy [View instapost]
Why in the world would a person need a month of time value for a day trade? There is no better way to blow your account than to turn a day trade into a swing trade.
"What is difficult for many new option traders to stomach is how bad a trade can look because of the leverage options have."
If you cannot stomach the movement, let alone the potential loss, you are trading too big.
"I am not a big believer in stop-losses. On a long position (months out) this can be very useful. However, on trades where you are expecting to enter and exit the same day, stop losses can be very problematic."
I vehemently disagree. Stop losses are essential. If stopped out, it only proves that your original entry point was not good. You can always re-enter a trade. It's not always so easy to get out once your losses start to mount. For example, you get into AAPL only to have it keep sliding another dollar or three (then another ten the next day if you held overnight). If you had a stop loss, you could have gotten in again once it stopped sliding and really started to reverse. You would have captured that much more upside instead of having to wait for your original entry point, plus the additional move it needed to make in order for you to be profitable. Or, you were proven wrong and got stopped out. If price showed you that the stock was actually going to continue its trend, you could actually reverse your trade and join the trend. If I'm wrong, I admit it and have the cash to make a clear decision for my next trade. If I'm wrong and remain stubborn, my judgment is usually clouded. If I'm wrong and start praying that maybe it will turn around tomorrow, that trade is usually in DEEP trouble.
I would really like to hear from some of Kevin's students who have taken the course and have had consistent results for over 6 months. All I've read are students who just completed the course... I wonder if people are actually able to stay solvent over the long haul.
Weekly Meetings In San Diego, CA Or Chicago, IL [View instapost]
Use Caution Buying CF Industries Call Options At This Level [View article]
Use Caution Buying CF Industries Call Options At This Level [View article]
Good luck in your trading, Passion. Your method is good.
Use Caution Buying CF Industries Call Options At This Level [View article]
5 Ag Equities With Major Upside And Strong Growth Prospects To Buy: 3 Now, 2 Later [View article]
Use Caution Buying CF Industries Call Options At This Level [View article]
I am not expecting anything from Kevin anymore. Until proven otherwise, I really don't think he give more than what he has already given---- which is a weak strategy based on lagging indicators alone. IMHO, it is imperative to have a definitive answer to why one would enter a trade other than what a few lagging indicators suggest, and an answer to where one believes that trade is headed and why. Also, if your original thesis is wrong, you must also plan ahead where to exit. Jumping in based on lagging indicators and randomly placing a 0.60 or 1.00 is a strategy that needs a lot more work. I would still read the thread to see what Passion is up to in his/her trading since that is the most interesting and helpful part about this thread.
I'm trying to help you here, Kevin. Do yourself a favor and give some answers.
By the way, CF is looking good today. It retested yesterday's low and made a steady climb all afternoon before consolidating. I would like it more above 208.50 or so. Below today and yesterday's lows I would not be bullish short term. What do you think, Kevin?
Use Caution Buying CF Industries Call Options At This Level [View article]
Use Caution Buying CF Industries Call Options At This Level [View article]
I've been waiting with anticipation. You posted one trade with incomplete details that nobody can actually verify, then no more. So, have you just not made additional trades? I am interested because I actually want to know how many trades a day the strategy generates for its developer.
Use Caution Buying CF Industries Call Options At This Level [View article]
Kevin, you were the one who issued the challenge. Passion posted multiple trades --- all legit and can be verified, and all posted with rationale to support thesis. You posted one then disappeared, only to come back with insults, which are now gone. Anyways, it would be great to see your trades from this week if you made any other than PCLN. If you did not, why not? Did your indicators show any other trades this week that worked out or didn't work out?
glworden: with all due respect, their methods are completely different. Passion trades price action while Kevin reads indicators regardless of whether there is true supply or demand at those prices. Take for example FB today. It was piercing that Bollinger Band and I don't have those indicators set up, but I guess anyone could check to see where it would have shown "oversold" somewhere during the morning slide. But it just kept going down because it broke a major pivot and no support underneath. Can't go long just because it's oversold. Sure, the method could work (lots of ways COULD work) but with higher risk. Because trading is about probability, you must trade your plan. If you have to rationalize why you can't trade your plan because oversold really isn't oversold, then you bring a subjective and perhaps emotional variable into your trading which will decrease your probability of winning. Coupled with a vague plan of maybe day trade maybe swing trade and hold it until it works in your favor makes it even higher risk. Sometimes, the trade will eventually work in your favor, but sometimes, the option premium decay will have killed your profit and then some. Trading is about probability. If you stick with the same indicators, your trades will work out some of the time according to the law of probability. But whether that's the best way (or even a good way, I would contend) to trade is the question at stake. That's why some people have posted that they read the indicators but price keeps moving in the same oversold or overbought direction. Knowing how to trade price action and identifying areas of support and resistance swings the probability in a trader's favor. I like my profit too much to trade an inferior plan. Otherwise, I could toss a coin to go long or short at the beginning of each day and it will work 50% of the time if I have the money to play indefinitely.
I also read that there are people who have had 100% track record with Kevin's method. That is highly suspect. However, knowing anything about probability tells you that it is possible to get only heads if you tossed a coin only so many times. Toss it more times and eventually, you'll get a tail. I'm sure Passion's method will generate losing trades as well. The key is to use whatever method that swings probability in your favor and lower your risk.
Just my two cents. Let's have a civil discussion, Kevin. Post and discuss your trades, please? If you would, critique Passions' trades.
This is an odd article to have this particular discussion. Glad I found it.