Thursday, February 22, 2007

Where is the beef?

This from Stall Horn from AdvancedOptionsStragtegies group. I am posting it partly
because I am being plugged in the post ;-) :

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Isn't it interesting the total number of members we have and how many new
members this group attracts a week, but how few members submit posts?

Wasn't it the old Wendy's commercial that queried: "Where's the beef?"

Well, the "beef" in this case is our willingness to share.

So why is it that we members are not asking questions and gorging ourselves
on the talent that exists in this group?

For those newbies to options my first guess goes back to our high school
mentality: We are afraid of sounding stupid in front of our peers. And it
sure is easy to sound stupid when it comes to options and the stock market.
I know this because I have been there, just like you.....

For the "oldies" to options my first guess is that your hard earned
knowledge has become, in your mind, proprietary, not unlike real estate,
which tends to appreciate in value as you build on it. I know this too
because the more I learn the fewer specifics I want to share.

Think about it, if I teach you all of my "secret ingredients" then I just
may lose my "edge." After all, the money I take from the market and put in
my pocket has to come from somewhere. So the more "stupid" traders there are
throwing their money at the market the better for me, right....? -
Absolutely.

So as far as a discussion group is concerned, we all are trapped in a Catch
22. People want to learn but those who can teach purport Theta, and Vega,
and the Flatulence theory...(?)

But these folks are not completely bad. They are simply indicating
indirectly to those asking question what I stated in the PS section of my
email to Sky. IT IS ALL UP TO YOU! You have to learn interpretation for
yourself.

Nobody is coming to your aid. The options world, just like the stock market
world, is the survival of the fittest. And by golly, my personal goal is to
be more fit than you so that I can out-run that "bear" before you do. My
concern is not with YOUR brokerage account, but with my own.

And this is not to diminish Sanjay. He comes in with his prognosis of things
and tells what he is doing. That is very respectable. But as a trader, you
are second a follower and first a leader. Do your indicators tell you the
same thing that Sanjay's are telling him? If so, then you have a
confirmation of sorts if you believe in Sanjay. If not, then best to let
Sanjay forage alone. I can assure you that Sanjay will not be offended.

And this is not to diminish Junky. He provides instruction on how tow to
read the TOS risk graph and whatever, which is a huge stepping stone
admittedly. But Junky is not your God. He is only a "tool" that you take
advantage of so that you can further your personal option trading intuition.
Nothing more. And he is happy to be as such.

Ironically the whole climax of this blather is that it doesn't matter how
much knowledge is shared. Statistics state that only 20% of the market
players actually make "real" money. This would seem to indicate that 80% of
you are not able to be inspired enough to follow through and make the $$$$$.

Again, this is not my problem. My goal is to be in the upper 20%.

If I don't see you there then, I guess I'll see you when I see you.... if
ever....

FSL

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