Writing Naked calls or puts scares the hell out of me. I have a long term strategy - Buy the share on Margin - Write ATM call - Buy Longest dated LEAP possible. Slow but steady and suites me for now. I also Trade Puts and calls, very tight money management and only risk max 10 % of total portfolio on htis strategy. To me (and I am new) it is all about having a plan and trading it, whether you use your own plan or someone elses and refine it is up to you.
Willt alk in two years time and will let you know if I am an Indian or a cowboy. I must admit I have no problem sticking to a plan as I have learnt the hard way that burning cash hurts. Ouch!!!
