Reputation from wcicom - Indo-Investasi.com

wcicom got a reaction from Lounge in [Req] - Gamma Scalping - Options Course? April 28

I have been a floor option trader, when there still "floors" :D, for about nine years. Most of those strategies described in many option books will only work if you have an edge, like floor traders used to have. Commissions, slippage and many other variables will prevent retail trader from implementing those strategies profitably. Only about half a dozen of option strategies will make sense once you realize what is involved in putting on a complex option position. With that said I am not implying that it's not worth learning options in depth....it is, but for a different reason. The better you understand mechanics of options the easier you will be able to substitute complex position with relatively simple one - with a profit and risk profile very close to original option strategy.

Good luck !!
Simon

wcicom got a reaction from aclient21 in Glenn Neely – Neowave Taking ElliotWave November 19, 2022

For those not familiar with Glenn and Neowave.

For many years Glenn Neely was teaching his Neowave approach to Elliott Wave, and for many years he was offering two different services based on it. One service was simply analytical representation of Neowave on various Markets, and another service was actually trading advisory based on Neowave approach.
For years it seemed like his idea worked rather well, much better in analytical portion than a trade advisory, but overall trade record seemed to be profitable.

I used his service a few times years ago for a short period of time, and did not find it beneficial to my trading. But, about five or six years ago I received an email from Glenn saying that he is opening a fund in which trading will be based on Neowave, and he expects to do very well, so not to join would be biggest mistake of my life :). Over the next 3 or 4 years Fund lost well over half of it’s assets in trading, and every time a hit would be taken by Glenn- he would send everyone an email explaining why it didn’t work, and that it’s a set of special circumstances which prevented his approach from being profitable. Just heads up that Neowave has taken lots of hits over the last 5-6 years. Sorry for the lengthy story - did as short as I could to tell the gist of it.

Good luck,
Simon

wcicom got a reaction from birdshoof in Glenn Neely – Neowave Taking ElliotWave January 26, 2022

For those not familiar with Glenn and Neowave.

For many years Glenn Neely was teaching his Neowave approach to Elliott Wave, and for many years he was offering two different services based on it. One service was simply analytical representation of Neowave on various Markets, and another service was actually trading advisory based on Neowave approach.
For years it seemed like his idea worked rather well, much better in analytical portion than a trade advisory, but overall trade record seemed to be profitable.

I used his service a few times years ago for a short period of time, and did not find it beneficial to my trading. But, about five or six years ago I received an email from Glenn saying that he is opening a fund in which trading will be based on Neowave, and he expects to do very well, so not to join would be biggest mistake of my life :). Over the next 3 or 4 years Fund lost well over half of it’s assets in trading, and every time a hit would be taken by Glenn- he would send everyone an email explaining why it didn’t work, and that it’s a set of special circumstances which prevented his approach from being profitable. Just heads up that Neowave has taken lots of hits over the last 5-6 years. Sorry for the lengthy story - did as short as I could to tell the gist of it.

Good luck,
Simon

wcicom got a reaction from ⭐ vinpiper in [ SHARE ] Larry W. 2021 - Forecast May 14, 2021