Looking for a mentor in option trading

[oldtrader]

It seems our friend Dilip Shaw is silently reading this thread. His latest mail of 20th April is full of venom against the posts here. My dear friend if you have guts, just come in an open forum and discuss. Doing one side discussion through email is not going to help you much.

This is what he says

----Some people love to back test my strategies. Now back test this:

Sell an option 200 or 300 or whatever points away from the first day of expiry and check from your Rs. 1 lakh or more back testing software what would have happened in the last one/two/twenty years had you:

a) Left it till expiry, or
b) Taken a stop loss once the stock hit the shorted option’s strike.

Now whatever the result – do you think Nifty will give the same result in the years to come? No way.

Now do you get why I do not believe in back testing?-----


My friend, let me tell you one thing, you are afraid of backtesting simply because the tall claims made by you in your course material will be exposed.

Forget the backtesting, even it will not work in live testing.

 

[lemondew]

Nice to know big guys watch over at tj .:thumb:

 

[oldtrader]

Nice to know big guys watch over at tj .:thumb:

Big guys don't sell strategies for 5000 rs . They use the strategies themselves to get more money.

 

[NCDEX Boss]

Lemondew sir the big guys watch so that they know what's going on with the small guys and get an edge over the small guys.

 

[lemondew]

No comments as I dont personally know his strategies and money management/ trade management. Iron condors have been promoted by many people in the world. Again there is a probability of loosing in iron condor and no guarantees of making money like in other strategies.

Big guys don't sell strategies for 5000 rs . They use the strategies themselves to get more money.

 

[mathivanansub]

It seems our friend Dilip Shaw is silently reading this thread. His latest mail of 20th April is full of venom against the posts here. My dear friend if you have guts, just come in an open forum and discuss. Doing one side discussion through email is not going to help you much.

This is what he says

----Some people love to back test my strategies. Now back test this:

Sell an option 200 or 300 or whatever points away from the first day of expiry and check from your Rs. 1 lakh or more back testing software what would have happened in the last one/two/twenty years had you:

a) Left it till expiry, or
b) Taken a stop loss once the stock hit the shorted option’s strike.

Now whatever the result – do you think Nifty will give the same result in the years to come? No way.

Now do you get why I do not believe in back testing?-----


My friend, let me tell you one thing, you are afraid of backtesting simply because the tall claims made by you in your course material will be exposed.

Forget the backtesting, even it will not work in live testing.

If something fails even in back testing ie even in an ideal condition like no emotions, no money involved etc, how will it succeed in live market. If you have a strategy with set of rules (this Dilip Shaw course has well defined set of rules), it should be testable both forward as well as backward. This is the first time I am hearing that a strategy will not work in past market and will work only in the future. I have also seen Dilip Shaw's mails, were the rules mentioned in the course are violated to close the trade in profit.

Making profit from a strategy depends primarily on the skill and discretion of the trader. I agree to that. But the 2% (forget about 3%) return per month just by following this course, is a highly misleading claim. And a trader using Iron Condor by controlling Delta skillfully will make profit of more than 3% and that has nothing to do with the Dilip Shaw course.

The selling of the course started only after seeing that this strategy made 3% return per month consistently. If that is true what is wrong in attaching that past data in the course, showing how the strategy performed well consistently. I am not talking about back testing, I am asking for the data when this strategy was traded live in the past, with emphasis on how the Iron Condor positions were created and closed as per rules in the course. And the result will be self evident. Creating an illusion that people who are not following the secret mantra given in the course will be doomed, is what is annoying.

 

[oldtrader]

No comments as I dont personally know his strategies and money management/ trade management. Iron condors have been promoted by many people in the world. Again there is a probability of loosing in iron condor and no guarantees of making money like in other strategies.

It pains to see how these guys are fleecing innocent people. His mails are full of hypocricy. Pls have a look at one of his mail, it is 100% intended to rope in new clients and look what he claims, he says he is providing support to his clients through the mails.

What pains me more is that nobody from the forum is raising a voice over this cheating. Common guys what are u afraid of.

 

[oldtrader]

If something fails even in back testing ie even in an ideal condition like no emotions, no money involved etc, how will it succeed in live market. If you have a strategy with set of rules (this Dilip Shaw course has well defined set of rules), it should be testable both forward as well as backward. This is the first time I am hearing that a strategy will not work in past market and will work only in the future. I have also seen Dilip Shaw's mails, were the rules mentioned in the course are violated to close the trade in profit.

Making profit from a strategy depends primarily on the skill and discretion of the trader. I agree to that. But the 2% (forget about 3%) return per month just by following this course, is a highly misleading claim. And a trader using Iron Condor by controlling Delta skillfully will make profit of more than 3% and that has nothing to do with the Dilip Shaw course.

The selling of the course started only after seeing that this strategy made 3% return per month consistently. If that is true what is wrong in attaching that past data in the course, showing how the strategy performed well consistently. I am not talking about back testing, I am asking for the data when this strategy was traded live in the past, with emphasis on how the Iron Condor positions were created and closed as per rules in the course. And the result will be self evident. Creating an illusion that people who are not following the secret mantra given in the course will be doomed, is what is annoying.

I salute you, Sir. For your clear explanation and boldness.

And look at the irony in his mail. He calls the persons who are following his mail instructions as --Sheep--, and is asking them to use their brains. True, my dear Dilip Shaw, had they used their brains , nobody would have paid you.

 

[lemondew]

Yes may be he should tell straight at the start this is just a course like a university degree where you may or may not have prospects to earn money depending on your ability/tukka view/ and all the other qualities which an ideal trader needs to have

 

[mathivanansub]

Yes may be he should tell straight at the start this is just a course like a university degree where you may or may not have prospects to earn money depending on your ability/tukka view/ and all the other qualities which an ideal trader needs to have

How can you sell something which is already available for free.