Options Investing Group for the newly Unemployed

If you have found yourself in the seemingly unenviable ranks of the unemployed...think again.

While we are all looking for jobs, we are really looking to make money. Period. I am looking for a few good men (or women) to join me in an informal options trading group. My thought is that putting enough smart, driven people in the same room creates a fertile ground for profit and camaraderie.

Here's the deal: I trade options with a small portfolio ($25,000). Returns generated have exceeded 40% per month. Do the math, that's a decent living for having control of your life and on such a small investment. This is hard - I guarantee nothing. But if you were like me sitting your desk dreaming of a better life, this may be to get back some control. As for me, it's perfect but it's lonely while all my friends are at work til 9pm or later most nights and I am at the gym by 4:30pm and hitting up happy hours at 7pm.

The method: The entry method will be kept extremely simple - the signal will be volume accumulation/selling at support and resistance, the confirmation will be the trend shift that portends a greater trending movement (specifics of this will be discussed later). Ironically, the entry method isn't the critical factor, it's the position sizing on a risk adjusted basis and minimizing losses. Van Tharp talks about this in great detail and this is the key to making money. The exit is also simple although this is a more delicate area of discussion. I make about 3-5 trades a week and hold for 2 days to 3 weeks. That's it.

About you: you are in NYC and have your own capital. You should be unpretentiously smart and have an understanding of equity valuation, stock investing, options, deltas, theta and some basic options experience (have an account that has option writing capabilities). Please let me know what trading platform you use. You also need to be pretty cool to hang out with - I hung out with enough dicks at work. I imagine that a group of 3-4 people is plenty, so I am only looking for 2-3 more people. Ideally, you should also be 25-30 years old, be a decent stock picker/trader or have one of or a combination of an MBA, PhD, CFA or Series 7/63... this isn't a get rich quick thing and I need you to be additive, not a draw on the group's capabilities. If you think you can just be yourself and people generally like you, we'll get along. I swear.

About me: former investment banking associate who couldn't deal with the hours or the personalities, BA from UCLA, JD/MBA from Emory, 740 GMAT, love to make money, work out, crack jokes and enjoy my life. I read a ton each week, have taught myself how to read japanese candlestick charts and some technical analysis (which my MBA program would laugh at, but thousands of traders know better).

PM me if serious. Don't flame me if you're not. I don't have the time for it and really neither should you. Good luck out there.

Comments (5)

Sep 15, 2008 - 2:03pm
ReadLine, what's your opinion? Comment below:

Inspect, if you could message me with whatever strategy information you're willing to share as an example and perhaps also more detailed perfomance history, I might be interested.

Sep 17, 2008 - 4:29pm
newbie2banking, what's your opinion? Comment below:

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