/biz/ - Business & Finance

>>19074693

>How long did it take you to go from noob to consistently profitable trader?

I started learning about Technical analysis & Swing trading at the age of 17, though it didn't carry through with any success, then I went on to backtesting TA algorithms and began to form an interest in forex and using MetaTrader and all these indicators with different adjustments and it was a nightmare. Eventually I learned about options trading and studied for about a year and a half while working full time (I also had my good friend with me who had similar interests though he doesn't trade full time today ). Then I went on to paper trading and practicing managing trades with complex orders since I wasn't available all the time due to my line of work. I compiled step by step lists of all the favorable methodologies available to me through online resources, then learned about the Greeks, probability, beta weighting, volatility, properly pricing trades, simple management of existing contracts, and so on. It was a process of about 2. years (excluding the time I had learning about swing trading and TA which did help in some aspects). Regardless, I'd say it was about 1.5-2 years of education with half a year of paper trading (included in the two years) and testing methodology till I found one that worked theoretically on paper. Then, applied it to real trades, and went from there. It was a bumpy ride in the beginning since I was new of course, It's all about observation and understanding what the hell you're looking at. Years later, it's a blessing to have something that works.

>>18961720
Yes I do hold the contracts from the underlying asset for a somewhat lengthy period of time which I mentioned in a previous post,

>"45-30 Days till expiry (Again I'm an options seller primarily so have that in mind) with an average holding period of 22-27 days, and sold before 15~ days till expiry to capitalize on time decay."

Which is entirely based off of probability trading so it's not a universal rule of course.

>I also meant to find a website that has historical data for IV or skew like skew.com

Why not just use a measurement inside a trading platform like IV rank or IV percentile? It's pretty much an indicator regarding IV's historical data for a security.

Anytime <3