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No gods, no kings, only NOPE - or divining the future with options flows. [Part 3: Hedge Winding, Unwinding, and the NOPE]
Hello friends! We're on the last post of this series ("A Gentle Introduction to NOPE"), where we get to use all the Big Boy Concepts (TM) we've discussed in the prior posts and put them all together. Some words before we begin:
This post will be massively theoretical, in the sense that my own speculation and inferences will be largely peppered throughout the post. Are those speculations right? I think so, or I wouldn't be posting it, but they could also be incorrect.
I will briefly touch on using the NOPE this slide, but I will make a secondary post with much more interesting data and trends I've observed. This is primarily for explaining what NOPE is and why it potentially works, and what it potentially measures.
My advice before reading this is to glance at my prior posts, and either read those fully or at least make sure you understand the tl;drs: https://www.reddit.com/thecorporation/collection/27dc72ad-4e78-44cd-a788-811cd666e32a Depending on popular demand, I will also make a last-last post called FAQ, where I'll tabulate interesting questions you guys ask me in the comments! --- So a brief recap before we begin. Market Maker ("Mr. MM"): An individual or firm who makes money off the exchange fees and bid-ask spread for an asset, while usually trying to stay neutral about the direction the asset moves. Delta-gamma hedging: The process Mr. MM uses to stay neutral when selling you shitty OTM options, by buying/selling shares (usually) of the underlying as the price moves. Law of Surprise [Lily-ism]: Effectively, the expected profit of an options trade is zero for both the seller and the buyer. Random Walk: A special case of a deeper probability probability called a martingale, which basically models stocks or similar phenomena randomly moving every step they take (for stocks, roughly every millisecond). This is one of the most popular views of how stock prices move, especially on short timescales. Future Expected Payoff Function [Lily-ism]: This is some hidden function that every market participant has about an asset, which more or less models all the possible future probabilities/values of the assets to arrive at a "fair market price". This is a more generalized case of a pricing model like Black-Scholes, or DCF. Counter-party: The opposite side of your trade (if you sell an option, they buy it; if you buy an option, they sell it). Price decoherence ]Lily-ism]: A more generalized notion of IV Crush, price decoherence happens when instead of the FEPF changing gradually over time (price formation), the FEPF rapidly changes, due usually to new information being added to the system (e.g. Vermin Supreme winning the 2020 election). --- One of the most popular gambling events for option traders to play is earnings announcements, and I do owe the concept of NOPE to hypothesizing specifically about the behavior of stock prices at earnings. Much like a black hole in quantum mechanics, most conventional theories about how price should work rapidly break down briefly before, during, and after ER, and generally experienced traders tend to shy away from playing earnings, given their similar unpredictability. Before we start: what is NOPE? NOPE is a funny backronym from Net Options Pricing Effect, which in its most basic sense, measures the impact option delta has on the underlying price, as compared to share price. When I first started investigating NOPE, I called it OPE (options pricing effect), but NOPE sounds funnier. The formula for it is dead simple, but I also have no idea how to do LaTeX on reddit, so this is the best I have: https://preview.redd.it/ais37icfkwt51.png?width=826&format=png&auto=webp&s=3feb6960f15a336fa678e945d93b399a8e59bb49 Since I've already encountered this, put delta in this case is the absolute value (50 delta) to represent a put. If you represent put delta as a negative (the conventional way), do not subtract it; add it. To keep this simple for the non-mathematically minded: the NOPE today is equal to the weighted sum (weighted by volume) of the delta of every call minus the delta of every put for all options chains extending from today to infinity. Finally, we then divide that number by the # of shares traded today in the market session (ignoring pre-market and post-market, since options cannot trade during those times). Effectively, NOPE is a rough and dirty way to approximate the impact of delta-gamma hedging as a function of share volume, with us hand-waving the following factors:
To keep calculations simple, we assume that all counter-parties are hedged. This is obviously not true, especially for idiots who believe theta ganging is safe, but holds largely true especially for highly liquid tickers, or tickers will designated market makers (e.g. any ticker in the NASDAQ, for instance).
We assume that all hedging takes place via shares. For SPY and other products tracking the S&P, for instance, market makers can actually hedge via futures or other options. This has the benefit for large positions of not moving the underlying price, but still makes up a fairly small amount of hedges compared to shares.
Winding and Unwinding
I briefly touched on this in a past post, but two properties of NOPE seem to apply well to EER-like behavior (aka any binary catalyst event):
NOPE measures sentiment - In general, the options market is seen as better informed than share traders (e.g. insiders trade via options, because of leverage + easier to mask positions). Therefore, a heavy call/put skew is usually seen as a bullish sign, while the reverse is also true.
NOPE measures system stability
I'm not going to one-sentence explain #2, because why say in one sentence what I can write 1000 words on. In short, NOPE intends to measure sensitivity of the system (the ticker) to disruption. This makes sense, when you view it in the context of delta-gamma hedging. When we assume all counter-parties are hedged, this means an absolutely massive amount of shares get sold/purchased when the underlying price moves. This is because of the following: a) Assume I, Mr. MM sell 1000 call options for NKLA 25C 10/23 and 300 put options for NKLA 15p 10/23. I'm just going to make up deltas because it's too much effort to calculate them - 30 delta call, 20 delta put. This implies Mr. MM needs the following to delta hedge: (1000 call options * 30 shares to buy for each) [to balance out writing calls) - (300 put options * 20 shares to sell for each) = 24,000net shares Mr. MM needs to acquire to balance out his deltas/be fully neutral. b) This works well when NKLA is at $20. But what about when it hits $19 (because it only can go down, just like their trucks). Thanks to gamma, now we have to recompute the deltas, because they've changed for both the calls (they went down) and for the puts (they went up). Let's say to keep it simple that now my calls are 20 delta, and my puts are 30 delta. From the 24,000 net shares, Mr. MM has to now have: (1000 call options * 20 shares to have for each) - (300 put options * 30 shares to sell for each) = 11,000 shares. Therefore, with a $1 shift in price, now to hedge and be indifferent to direction, Mr. MM has to go from 24,000 shares to 11,000 shares, meaning he has to sell 13,000 shares ASAP, or take on increased risk. Now, you might be saying, "13,000 shares seems small. How would this disrupt the system?" (This process, by the way, is called hedge unwinding) It won't, in this example. But across thousands of MMs and millions of contracts, this can - especially in highly optioned tickers - make up a substantial fraction of the net flow of shares per day. And as we know from our desk example, the buying or selling of shares directly changes the price of the stock itself. This, by the way, is why the NOPE formula takes the shape it does. Some astute readers might notice it looks similar to GEX, which is not a coincidence. GEX however replaces daily volume with open interest, and measures gamma over delta, which I did not find good statistical evidence to support, especially for earnings. So, with our example above, why does NOPE measure system stability? We can assume for argument's sake that if someone buys a share of NKLA, they're fine with moderate price swings (+- $20 since it's NKLA, obviously), and in it for the long/medium haul. And in most cases this is fine - we can own stock and not worry about minor swings in price. But market makers can't* (they can, but it exposes them to risk), because of how delta works. In fact, for most institutional market makers, they have clearly defined delta limits by end of day, and even small price changes require them to rebalance their hedges. This over the whole market adds up to a lot shares moving, just to balance out your stupid Robinhood YOLOs. While there are some tricks (dark pools, block trades) to not impact the price of the underlying, the reality is that the more options contracts there are on a ticker, the more outsized influence it will have on the ticker's price. This can technically be exactly balanced, if option put delta is equal to option call delta, but never actually ends up being the case. And unlike shares traded, the shares representing the options are more unstable, meaning they will be sold/bought in response to small price shifts. And will end up magnifying those price shifts, accordingly.
NOPE and Earnings
So we have a new shiny indicator, NOPE. What does it actually mean and do? There's much literature going back to the 1980s that options markets do have some level of predictiveness towards earnings, which makes sense intuitively. Unlike shares markets, where you can continue to hold your share even if it dips 5%, in options you get access to expanded opportunity to make riches... and losses. An options trader betting on earnings is making a risky and therefore informed bet that he or she knows the outcome, versus a share trader who might be comfortable bagholding in the worst case scenario. As I've mentioned largely in comments on my prior posts, earnings is a special case because, unlike popular misconceptions, stocks do not go up and down solely due to analyst expectations being meet, beat, or missed. In fact, stock prices move according to the consensus market expectation, which is a function of all the participants' FEPF on that ticker. This is why the price moves so dramatically - even if a stock beats, it might not beat enough to justify the high price tag (FSLY); even if a stock misses, it might have spectacular guidance or maybe the market just was assuming it would go bankrupt instead. To look at the impact of NOPE and why it may play a role in post-earnings-announcement immediate price moves, let's review the following cases:
Stock Meets/Exceeds Market Expectations (aka price goes up) - In the general case, we would anticipate post-ER market participants value the stock at a higher price, pushing it up rapidly. If there's a high absolute value of NOPE on said ticker, this should end up magnifying the positive move since:
a) If NOPE is high negative - This means a ton of put buying, which means a lot of those puts are now worthless (due to price decoherence). This means that to stay delta neutral, market makers need to close out their sold/shorted shares, buying them, and pushing the stock price up. b) If NOPE is high positive - This means a ton of call buying, which means a lot of puts are now worthless (see a) but also a lot of calls are now worth more. This means that to stay delta neutral, market makers need to close out their sold/shorted shares AND also buy more shares to cover their calls, pushing the stock price up. 2) Stock Meets/Misses Market Expectations (aka price goes down)- Inversely to what I mentioned above, this should push to the stock price down, fairly immediately. If there's a high absolute value of NOPE on said ticker, this should end up magnifying the negative move since: a) If NOPE is high negative - This means a ton of put buying, which means a lot of those puts are now worth more, and a lot of calls are now worth less/worth less (due to price decoherence). This means that to stay delta neutral, market makers need to sell/short more shares, pushing the stock price down. b) If NOPE is high positive - This means a ton of call buying, which means a lot of calls are now worthless (see a) but also a lot of puts are now worth more. This means that to stay delta neutral, market makers need to sell even more shares to keep their calls and puts neutral, pushing the stock price down. --- Based on the above two cases, it should be a bit more clear why NOPE is a measure of sensitivity to system perturbation. While we previously discussed it in the context of magnifying directional move, the truth is it also provides a directional bias to our "random" walk. This is because given a price move in the direction predicted by NOPE, we expect it to be magnified, especially in situations of price decoherence. If a stock price goes up right after an ER report drops, even based on one participant deciding to value the stock higher, this provides a runaway reaction which boosts the stock price (due to hedging factors as well as other participants' behavior) and inures it to drops.
NOPE and NOPE_MAD
I'm going to gloss over this section because this is more statistical methods than anything interesting. In general, if you have enough data, I recommend using NOPE_MAD over NOPE. While NOPE in theory represents a "real" quantity (net option delta over net share delta), NOPE_MAD (the median absolute deviation of NOPE) does not. NOPE_MAD simply answecompare the following:
How exceptional is today's NOPE versus historic baseline (30 days prior)?
How do I compare two tickers' NOPEs effectively (since some tickers, like TSLA, have a baseline positive NOPE, because Elon memes)? In the initial stages, we used just a straight numerical threshold (let's say NOPE >= 20), but that quickly broke down. NOPE_MAD aims to detect anomalies, because anomalies in general give you tendies.
I might add the formula later in Mathenese, but simply put, to find NOPE_MAD you do the following:
Calculate today's NOPE score (this can be done end of day or intraday, with the true value being EOD of course)
Calculate the end of day NOPE scores on the ticker for the previous 30 trading days
Compute the median of the previous 30 trading days' NOPEs
Find today's deviation as compared to the MAD calculated by: [(today's NOPE) - (median NOPE of last 30 days)] / (median absolute deviation of last 30 days)
This is usually reported as sigma (σ), and has a few interesting properties:
The mean of NOPE_MAD for any ticker is almost exactly 0.
[Lily's Speculation's Speculation] NOPE_MAD acts like a spring, and has a tendency to reverse direction as a function of its magnitude. No proof on this yet, but exploring it!
Using the NOPE to predict ER
So the last section was a lot of words and theory, and a lot of what I'm mentioning here is empirically derived (aka I've tested it out, versus just blabbered). In general, the following holds true:
3 sigma NOPE_MAD tends to be "the threshold": For very low NOPE_MAD magnitudes (+- 1 sigma), it's effectively just noise, and directionality prediction is low, if not non-existent. It's not exactly like 3 sigma is a play and 2.9 sigma is not a play; NOPE_MAD accuracy increases as NOPE_MAD magnitude (either positive or negative) increases.
NOPE_MAD is only useful on highly optioned tickers: In general, I introduce another parameter for sifting through "candidate" ERs to play: option volume * 100/share volume. When this ends up over let's say 0.4, NOPE_MAD provides a fairly good window into predicting earnings behavior.
NOPE_MAD only predicts during the after-market/pre-market session: I also have no idea if this is true, but my hunch is that next day behavior is mostly random and driven by market movement versus earnings behavior. NOPE_MAD for now only predicts direction of price movements right between the release of the ER report (AH or PM) and the ending of that market session. This is why in general I recommend playing shares, not options for ER (since you can sell during the AH/PM).
NOPE_MAD only predicts direction of price movement: This isn't exactly true, but it's all I feel comfortable stating given the data I have. On observation of ~2700 data points of ER-ticker events since Mar 2019 (SPY 500), I only so far feel comfortable predicting whether stock price goes up (>0 percent difference) or down (<0 price difference). This is +1 for why I usually play with shares.
Some statistics: #0) As a baseline/null hypothesis, after ER on the SPY500 since Mar 2019, 50-51% price movements in the AH/PM are positive (>0) and ~46-47% are negative (<0). #1) For NOPE_MAD >= +3 sigma, roughly 68% of price movements are positive after earnings. #2) For NOPE_MAD <= -3 sigma, roughly 29% of price movements are positive after earnings. #3) When using a logistic model of only data including NOPE_MAD >= +3 sigma or NOPE_MAD <= -3 sigma, and option/share vol >= 0.4 (around 25% of all ERs observed), I was able to achieve 78% predictive accuracy on direction.
Like all models, NOPE is wrong, but perhaps useful. It's also fairly new (I started working on it around early August 2020), and in fact, my initial hypothesis was exactly incorrect (I thought the opposite would happen, actually). Similarly, as commenters have pointed out, the timeline of data I'm using is fairly compressed (since Mar 2019), and trends and models do change. In fact, I've noticed significantly lower accuracy since the coronavirus recession (when I measured it in early September), but I attribute this mostly to a smaller date range, more market volatility, and honestly, dumber option traders (~65% accuracy versus nearly 80%). My advice so far if you do play ER with the NOPE method is to use it as following:
Buy/short shares approximately right when the market closes before ER. Ideally even buying it right before the earnings report drops in the AH session is not a bad idea if you can.
Sell/buy to close said shares at the first sign of major weakness (e.g. if the NOPE predicted outcome is incorrect).
Sell/buy to close shares even if it is correct ideally before conference call, or by the end of the after-market/pre-market session.
Only play tickers with high NOPE as well as high option/share vol.
--- In my next post, which may be in a few days, I'll talk about potential use cases for SPY and intraday trends, but I wanted to make sure this wasn't like 7000 words by itself. Cheers. - Lily
The Challenges of Designing a Modern Skill, Part 3
Okay, Wendy’s or Walgreens or whoever, I don’t care who you are, you’re listening to the rest.
Introduction to Part 3
Welcome back one last time to “The Challenges of Designing a Modern Skill,” a series where we discuss all aspects of skill design and development. In Part 1, we talked about OSRS’s history with skills, and started the lengthy conversation on Skill Design Philosophy, including the concepts of Core, Expansion, and Integration. This latter topic consumed the entirety of Part 2 as well, which covered Rewards and Motivations, Progression, Buyables, as well as Unconstructive Arguments. Which brings us to today, the final part of our discussion. In this Part 3, we’ll finish up Section 3 – Skill Design Philosophy, then move on to chat about the design and blog process. One last time, this discussion was intended to be a single post, but its length outgrew the post character limit twice. Therefore, it may be important to look at the previous two parts for clarity and context with certain terms. The final product, in its purest, aesthetic, and unbroken form, can be found here.
3-C – Skill Design Philosophy, Continued
3-12 - Balancing
What follows from the discussion about XP and costs, of course, is balancing: the bane of every developer. A company like Riot knows better than anyone that having too many factors to account for makes good balance impossible. Balancing new ideas appropriately is extremely challenging and requires a great respect for current content as discussed in Section 3-5 – Integration. Thankfully, in OSRS we only have three major balancing factors: Profit, XP Rate, and Intensity, and two minor factors: Risk and Leniency. These metrics must amount to some sense of balance (besides Leniency, which as we’ll see is the definition of anti-balance) in order for a piece of content to feel like it’s not breaking the system or rendering all your previous efforts meaningless. It’s also worthy to note that there is usually a skill-specific limit to the numerical values of these metrics. For example, Runecrafting will never receive a training method that grants 200k xp/hr, while for Construction that’s easily on the lower end of the scale. A basic model works better than words to describe these factors, and therefore, being the phenomenal artist that I am, I have constructed one, which I’ve dubbed “The Guthix Scale.” But I’ll be cruel and use words anyway.
Profit: how much you gain from a task, or how much you lose. Gain or loss can include resources, cosmetics, specialized currencies, good old gold pieces, or anything on that line.
XP Rate: how fast you gain XP.
Intensity: how much effort (click intensity), attention (reaction intensity), and thought (planning intensity) you need to put into the activity to perform it well.
Risk: how likely is the loss of your revenue and/or resource investment into the activity. Note that one must be careful with risk, as players are very good at abusing systems intended to encourage higher risk levels to minimize how much they’re actually risking.
Leniency: a measure for how imbalanced a piece of content can be before the public and/or Jagex nerfs it. Leniency serves as a simple modulator to help comprehend when the model breaks or bends in unnatural ways, and is usually determined by how enjoyable and abusable an activity is, such that players don’t want to cause an outrage over it. For example, Slayer has a high level of Leniency; people don’t mind that some Slayer tasks grant amazing XP Rates, great Profits, have middling Intensity, and low Risk. On the other hand, Runecrafting has low levels of Leniency; despite low Risk, many Runecrafting activities demand high Intensity for poor XP Rates and middling Profits.
In the end, don’t worry about applying specific numbers during the conceptual phase of your skill design. However, when describing an activity to your reader, it’s always useful if you give approximations, such as “high intensity” or “low risk,” so that they get an idea of the activity’s design goals as well as to guide the actual development of that activity. Don’t comment on the activity’s Leniency though, as that would be pretty pretentious and isn’t for you to determine anyway.
3-13 - Skill Bloat
What do the arts of weaving, tanning, sowing, spinning, pottery, glassmaking, jewellery, engraving, carving, chiselling, carpentry, and even painting have in common? In real life, there’s only so much crossover between these arts, but in Runescape they’re all simply Crafting. The distinction between what deserves to be its own skill or instead tagged along to a current skill is often arbitrary; this is the great challenge of skill bloat. The fundamental question for many skill concepts is: does this skill have enough depth to stand on its own? The developers of 2006 felt that there was sufficient depth in Construction to make it something separate from Crafting, even if the latter could have covered the former. While there’s often no clean cut between these skills (why does making birdhouses use Crafting instead of Construction?), it is easy to see that Construction has found its own solid niche that would’ve been much too big to act as yet another Expansion of Crafting. On the other hand, a skill with extremely limited scope and value perhaps should be thrown under the umbrella of a larger skill. Take Firemaking: it’s often asked why it deserves to be its own skill given how limited its uses are. This is one of those ideas that probably should have just been thrown under Crafting or even Woodcutting. But again, the developers who made early Runescape did not battle with the same ideas as the modern player; they simply felt like Firemaking was a good idea for a skill. Similarly, the number of topics that the Magic skill covers is so often broken down in other games, like Morrowind’s separation between Illusion, Conjuration, Alteration, Destruction, Mysticism, Restoration, Enchant, Alchemy (closer to Herblore), and Unarmored (closer to Strength and Defense). Why does Runescape not break Magic into more skills? The answer is simple: Magic was created with a much more limited scope in Runescape, and there has not been enough content in any specific magical category to justify another skill being born. But perhaps your skill concept seeks to address this; maybe your Enchantment skill takes the enchanting aspects of Magic away, expands the idea to include current imbues and newer content, and fully fleshes the idea out such that the Magic skill alone cannot contain it. Somewhat ironically, Magic used to be separated into Good and Evil Magic skills in Runescape Classic, but that is another topic. So instead of arguments about what could be thrown under another skill’s umbrella, perhaps we should be asking: is there enough substance to this skill concept for it to stand on its own, outside of its current skill categorization? Of course, this leads to a whole other debate about how much content is enough for a skill idea to deserve individuality, but that would get too deep into specifics and is outside the scope of this discussion.
3-14 - Skill Endgame
Runescape has always been a sandbox MMO, but the original Runescape experience was built more or less with a specific endgame in mind: killing players and monsters. Take the Runescape Classic of 2001: you had all your regular combat skills, but even every other skill had an endgame whose goal was helping combat out. Fishing, Firemaking, and Cooking would provide necessary healing. Smithing and Crafting, along with their associated Gathering skill partners, served to gear you up. Combat was the simple endgame and most mechanics existed to serve that end. However, since those first days, the changing endgame goals of players have promoted a vast expansion of the endgame goals of new content. For example, hitting a 99 in any non-combat skill is an endgame goal in itself for many players, completely separate from that skill’s combat relationship (if any). These goals have increased to aspects like cosmetic collections, pets, maxed stats, all quests completed, all diaries completed, all music tracks unlocked, a wealthy bank, the collection log, boss killcounts, and more. Whereas skills used to have a distinct part of a system that ultimately served combat, we now have a vast variety of endgame goals that a skill can be directed towards. You can even see a growth in this perspective as new skills were released up to 2007: Thieving mainly nets you valuable (or once valuable) items which have extremely flexible uses, and Construction has a strong emphasis on cosmetics for your POH. So when designing your new skill, contemplate what the endgame of your skill looks like. For example, if you are proposing a Gathering skill, what is the Production skill tie-in, and what is the endgame goal of that Production skill? Maybe your new skill Spelunking has an endgame in gathering rare collectibles that can be shown off in your POH. Maybe your new skill Necromancy functions like a Support skill, giving you followers that help speed along resource gathering, and letting you move faster to the endgame goal of the respective Production skill. Whatever it is, a proper, clear, and unified view of an endgame goal helps a skill feel like it serves a distinct and valuable purpose. Note that this could mean that you require multiple skills to be released simultaneously for each to feed into each other and form an appropriate endgame. In that case, go for it – don’t make it a repeat of RS3’s Divination, a Gathering skill left hanging without the appropriate Production skill partner of Invention for over 2 years. A good example of a skill with a direct endgame is… most of them. Combat is a well-accepted endgame, and traditionally, most skills are intended to lend a hand in combat whether by supplies or gear. A skill with a poor endgame would be Hunter: Hunter is so scattered in its ultimate endgame goals, trying to touch on small aspects of everything like combat gear, weight reduction, production, niche skilling tools, and food. There’s a very poor sense of identity to Hunter’s endgame, and it doesn’t help that very few of these rewards are actually viable or interesting in the current day. Similarly, while Slayer has a strong endgame goal it is terrible in its methodology, overshadowing other Production skills in their explicit purpose. A better design for Slayer’s endgame would have been to treat it as a secondary Gathering skill, to work almost like a catalyst for other Gathering-Production skill relationships. In this mindset, Slayer is where you gather valuable monster drops, combine it with traditional Gathering resources like ores from Mining, then use a Production skill like Smithing to meld them into the powerful gear that is present today. This would have kept other Gathering and Production skills at the forefront of their specialities, in contrast to today’s situation where Slayer will give fully assembled gear that’s better than anything you could receive from the appropriate skills (barring a few items that need a Production skill to piece together).
3-15 - Alternate Goals
From a game design perspective, skills are so far reaching that it can be tempting to use them to shift major game mechanics to a more favourable position. Construction is an example of this idea in action: Construction was very intentionally designed to be a massive gold sink to help a hyperinflating economy. Everything about it takes gold out of the game, whether through using a sawmill, buying expensive supplies from stores, adding rooms, or a shameless piece of furniture costing 100m that is skinned as, well, 100m on a shameless piece of furniture. If you’re clever about it, skills are a legitimately good opportunity for such change. Sure, the gold sink is definitely a controversial feature of Construction, but for the most part it’s organic and makes sense; fancy houses and fancy cosmetics are justifiably expensive. It is notable that the controversy over Construction’s gold sink mechanism is probably levied more against the cost of training, rather than the cost of all its wonderful aesthetics. Perhaps that should have been better accounted for in its design phase, but now it is quite set in stone. To emphasize that previous point: making large scale changes to the game through a new skill can work, but it must feel organic and secondary to the skill’s main purpose. Some people really disliked Warding because they felt it tried too hard to fix real, underlying game issues with mechanics that didn’t thematically fit or were overshadowing the skill’s Core. While this may or may not be true, if your new skill can improve the game’s integrity without sacrificing its own identity, you could avoid this argument entirely. If your skill Regency has a Core of managing global politics, but also happens to serve as a resource sink to help your failing citizens, then you’ve created a strong Core design while simultaneously improving the profitability of Gathering skills.
3-16 - The Combat No-Touch Rule
So, let’s take a moment to examine the great benefits and rationale of RS2’s Evolution of Combat: This space has been reserved for unintelligible squabbling. With that over, it’s obvious that the OSRS playerbase is not a big fan of making major changes to the combat system. If there’s anything that defines the OSRS experience, it has to be the janky and abusable combat system that we love. So, in the past 7 years of OSRS, how many times have you heard someone pitch a new combat skill? Practically no one ever has; a new combat skill, no matter how miniscule, would feel obtrusive to most players, and likely would not even receive 25% of votes in a poll. This goes right back to Section 3-5 – Integration, and the importance of preserving the fundamentals of OSRS’s design. I know that my intention with this discussion was to be as definitive about skill design as possible, and in that spirit I should be delving into the design philosophy specifically behind combat skills, but I simply don’t see the benefit of me trying, and the conversation really doesn’t interest me that much. It goes without saying that as expansive as this discussion is, it does not cover every facet of skill design, which is a limitation both of my capabilities and desire to do so.
3-17 - Aesthetics
I don’t do aesthetics well. I like them, I want them, but I do not understand them; there are others much better equipped to discuss this topic than I. Nonetheless, here we go. Since the dawn of OSRS, debates over art style and aesthetics have raged across Gielinor. After all, the OSRS Team is filled with modern day artists while OSRS is an ancient game. What were they supposed to do? Keep making dated graphics? Make content with a modernized and easily digestible style? Something in-between? While many players shouted for more dated graphics, they were approached by an interesting predicament: which dated graphics did they want? We had a great selection present right from the start of OSRS: 2002, 2003, 2004, 2005, 2006, and 2007. People hungry for nostalgia chose the era that they grew up in, leading to frequent requests for older models like the dragon or imp, most of which were denied by Jagex (except the old Mining rock models). But which era was OSRS supposed to follow? Jagex elected to carve their own path, but not without heavy criticism especially closer to OSRS’s conception. However, they adapted to player requests and have since gone back and fixed many of the blatant early offenders (like the Kingdom of Kourend) and adopted a more consistent flavour, one that generally respects the art style of 2007. Even though it doesn’t always hit the mark, one has to appreciate the OSRS artists for making their best attempt and listening to feedback, and here’s to hoping that their art style examination mentioned in June 2020’s Gazette bears fruit. But what exactly is the old school art style? There are simple systems by which most players judge it in OSRS, usually by asking questions like, “Would you believe if this existed in 2007?” More informed artists will start pointing out distinct features that permeated most content from back in the day, such as low quality textures, low poly models, low FPS animations, a “low fantasy” or grounded profile that appeals somewhat to realism, reducing cartoonish exaggerations, and keeping within the lore. Compiled with this, music and sound design help that art style come to life; it can be very hard on immersion when these don’t fit. An AGS would sound jarring if its special attack sounded like a weak dagger stab, and having to endure Country Jig while roaming Hosidius suddenly sweeps you off into a different universe. But coming back to skill design, the art, models, and sound design tend to be some of the last features, mostly because the design phase doesn’t demand such a complete picture of a skill. However, simple concept art and models can vastly improve how a skill concept is communicated and comfort players who are concerned about maintaining that “old school feel.” This will be touched on again later in this discussion under Section 5-2 – Presentation and Beta Testing.
3-18 - Afterword
Now we’ve set down the modern standards for a new skill, but the statements that started this section bear repeating: the formula we’ve established does not automatically make a good or interesting skill, as hard as we might have tried. Once again, harken back to the First Great Irony: that we are trying to inject the modern interpretation of what defines a skill upon a game that was not necessarily built to contain it. Therefore, one could just as easily deny each of the components described above, as popular or unpopular as the act might be, and their opinion could be equally valid and all this effort meaningless. Don’t take these guidelines with such stringency as to disregard all other views.
5-0 - The OSRS Team and the Design Process
If you’ve followed me all the way here, you’re likely A) exhausted and fed up of any conversation concerning new skills, or B) excited, because you’ve just struck an incredible skill idea (or perhaps one that’s always hung around your head) that happens to tick off all the above checkboxes. But unfortunately for you B types, it’s about to get pretty grim, because we’re going to go through every aspect of skill design that’s exterior to the game itself. We’ll be touching on larger topics like democracy, presentation, player mindsets, effort, and resource consumption. It’ll induce a fantastic bout of depression, so don’t get left behind.
5-1 - Designing a Skill
Thus far, Jagex has offered three potential skills to OSRS, each of which has been denied. This gives us the advantage of understanding how the skill design process works behind the scenes and lets us examine some of the issues Jagex has faced with presenting a skill to the players. The first problem is the “one strike and you’re out” phenomenon. Simply put, players don’t like applying much effort into reading and learning. They’ll look at a developer blog highlighting a new skill idea, and if you’re lucky they’ll even read the whole thing, but how about the second developer blog? The third? Fourth? Even I find it hard to get that far. In general, people don’t like long detail-heavy essays or blogs, which is why I can invoke the ancient proverb “Ban Emily” into this post and it’ll go (almost) completely unnoticed. No matter how many improvements you make between developer blogs, you will quickly lose players with each new iteration. Similarly, developer blogs don’t have the time to talk about skill design philosophy or meta-analyse their ideas – players would get lost far too fast. This is the Second Great Irony of skill design: the more iterations you have of a lengthy idea, the less players will keep up with you. This was particularly prominent with Warding: Battle Wards were offered in an early developer blog but were quickly cut when Jagex realized how bad the idea was. Yet people would still cite Battle Wards as the reason they voted against Warding, despite the idea having been dropped several blogs before. Similarly, people would often comment that they hated that Warding was being polled multiple times; it felt to them like Jagex was trying to brute-force it into the game. But Warding was only ever polled once, and only after the fourth developer blog - the confusion was drawn from how many times the skill was reiterated and from the length of the public design process. Sure, there are people for whom this runs the opposite way; they keep a close eye on updates and judge a piece of content on the merits of the latest iteration, but this is much less common. You could argue that one should simply disregard the ignorant people as blind comments don't contribute to the overall discussion, but you should remember that these players are also the ones voting for the respective piece of content. You could also suggest re-educating them, which is exactly what Jagex attempts with each developer blog, and still people won’t get the memo. And when it comes to the players themselves, can the playerbase really be relied on to re-educate itself? Overall, the Second Great irony really hurts the development process and is practically an unavoidable issue. What’s the alternative? To remove the developer-player interface that leads to valuable reiterations, or does you simply have to get the skill perfect in the first developer blog? It’s not an optimal idea, but it could help: have a small team of “delegates” – larger names that players can trust, or player influencers – come in to review a new, unannounced skill idea under NDA. If they like it, chances are that other players will too. If they don’t, reiterate or toss out the skill before it’s public. That way, you’ve had a board of experienced players who are willing to share their opinions to the public helping to determine the meat and potatoes of the skill before it is introduced to the casual eye. Now, a more polished and well-accepted product can be presented on the first run of selling a skill to the public, resulting in less reiterations being required, and demanding less effort from the average player to be fully informed over the skill’s final design.
5-2 - Presentation and Beta Testing
So you’ve got a great idea, but how are you going to sell it to the public? Looking at how the OSRS Team has handled it throughout the years, there’s a very obvious learning curve occurring. Artisan had almost nothing but text blogs being thrown to the players, Sailing started introducing some concept art and even a trailer with terrible audio recording, and Warding had concept art, in game models, gifs, and a much fancier trailer with in-game animations. A picture or video is worth a thousand words, and often the only words that players will take out of a developer blog. You might say that presentation is everything, and that would be more true in OSRS than most games. Most activities in OSRS are extremely basic, involve minimal thought, and are incredibly grindy. Take Fishing: you click every 20 seconds on a fishing spot that is randomly placed along a section of water, get rid of your fish, then keep clicking those fishing spots. Boiling it down further, you click several arbitrary parts of your computer screen every 20 seconds. It’s hardly considered engaging, so why do some people enjoy it? Simply put: presentation. You’re given a peaceful riverside environment to chill in, you’re collecting a bunch of pixels shaped like fish, and a number tracking your xp keeps ticking up and telling you that it matters. Now imagine coming to the players with a radical new skill idea: Mining. You describe that Mining is where you gather ores that will feed into Smithing and help create gear for players to use. The audience ponders momentarily, but they’re not quite sure it feels right and ask for a demonstration. You show them some gameplay, but your development resources were thin and instead of rocks, you put trees as placeholders. Instead of ores in your inventory, you put logs as placeholders. Instead of a pickaxe, your character is swinging a woodcutting axe as a placeholder. Sure, the mechanics might act like mining instead of woodcutting, but how well is the skill going to sell if you haven’t presented it correctly or respected it contextually? Again, presentation is everything. Players need to be able to see the task they are to perform, see the tools they’ll use, and see the expected outcomes; otherwise, whatever you’re trying to sell will feel bland and unoriginal. And this leads to the next level of skill presentation that has yet to be employed: Beta Worlds. Part of getting the feel of an activity is not just watching, it but acting it out as well - you’ll never understand the thrill of skydiving unless you’ve actually been skydiving. Beta Worlds are that chance for players to act out a concept without risking the real game’s health. A successful Beta can inspire confidence in players that the skill has a solid Core and interesting Expansions, while a failed Beta will make them glad that they got to try it and be fully informed before putting the skill to a poll (although that might be a little too optimistic for rage culture). Unfortunately, Betas are not without major disadvantages, the most prominent of which we shall investigate next.
5-3 - Development Effort
If you thought that the previous section on Skill Design Philosophy was lengthy and exhausting, imagine having to know all that information and then put it into practice.Mentally designing a skill in your head can be fun, but putting all that down on paper and making it actually work together, feel fully fleshed out, and following all the modern standards that players expect is extremely heavy work, especially when it’s not guaranteed to pay off in the polls like Quest or Slayer content. That’s not even taking into account the potentially immense cost of developing a new skill should it pass a poll. Whenever people complain that Jagex is wasting their resources trying to make that specific skill work, Jagex has been very explicit about the costs to pull together a design blog being pretty minimal. Looking at the previous blogs, Jagex is probably telling the truth. It’s all just a bunch of words, a couple art sketches, and maybe a basic in-game model or gif. Not to downplay the time it takes to write well, design good models, or generate concept art, but it’s nothing like the scale of resources that some players make it out to be. Of course, if a Beta was attempted as suggested last section, this conversation would take a completely new turn, and the level of risk to invested resources would exponentially increase. But this conversation calls to mind an important question: how much effort and resources do skills require to feel complete? Once upon a time, you could release a skill which was more or less unfinished. Take Slayer: it was released in 2005 with a pretty barebones structure. The fundamentals were all there, but the endgame was essentially a couple cool best-in-slot weapons and that was it. Since then, OSRS has updated the skill to include a huge Reward Shop system, feature 50% more monsters to slay, and to become an extremely competitive money-maker. Skills naturally undergo development over time, but it so often comes up during the designing of an OSRS skill that it "doesn't have enough to justify its existence." This was touched on deeply in Section 3-13 – Skill Bloat, but deserves reiterating here. While people recognize that skills continually evolve, the modern standard expects a new skill, upon release, to be fully preassembled before purchase. Whereas once you could get away with releasing just a skill's Core and working on Expansions down the line, that is no longer the case. But perhaps a skill might stand a better chance now than it did last year, given that the OSRS Team has doubled in number since that time. However, judging from the skill design phases that have previously been attempted (as we’ve yet to see a skill development phase), the heaviest cost has been paid in developer mentality and motivational loss. When a developer is passionate about an idea, they spend their every waking hour pouring their mind into how that idea is going to function,especially while they’re not at work. And then they’re obligated to take player feedback and adapt their ideas, sometimes starting from scratch, particularly over something as controversial as a skill. Even if they have tough enough skin to take the heavy criticism that comes with skill design, having to write and rewrite repeatedly over the same idea to make it “perfect” is mentally exhausting. Eventually, their motivation drains as their labour bears little fruit with the audience, and they simply want to push it to the poll and be done with it. Even once all their cards are down, there’s still no guarantee that their efforts will be rewarded, even less so when it comes to skills. With such a high mental cost with a low rate of success, you have to ask, “Was it worth it?” And that’s why new skill proposals are far and few between. A new skill used to be exciting for the development team in the actual days of 2007, as they had the developmental freedom to do whatever they wanted, but in the modern day that is not so much the case.
5-4 - The Problems of Democracy
Ever since the conceptualization of democracy in the real world, people have been very aware of its disadvantages. And while I don’t have the talent, knowledge, or time to discuss every one of these factors, there are a few that are very relevant when it comes to the OSRS Team and the polling process. But first we should recognize the OSRS Team’s relationship with the players. More and more, the Team acts like a government to its citizens, the players, and although this situation was intentionally instated with OSRS’s release, it’s even more prominent now. The Team decides the type of content that gets to go into a poll, and the players get their input over whether that particular piece makes it in. Similarly, players make suggestions to the Team that, in many cases, the Team hadn’t thought of themselves. This synergy is phenomenal and almost unheard of among video games, but the polling system changes the mechanics of this relationship. Polls were introduced to the burned and scarred population of players at OSRS’s release in 2013. Many of these players had just freshly come off RS2 after a series of disastrous updates or had quit long before from other controversies. The Squeal of Fortune, the Evolution of Combat, even the original Wilderness Removal had forced numerous players out and murdered their trust in Jagex. To try and get players to recommit to Runescape, Jagex offered OSRS a polling system by which the players would determine what went into the game, where the players got to hold all the cards. They also asked the players what threshold should be required for polled items to pass, and among the odd 50% or 55% being shouted out, the vast majority of players wanted 70%, 75%, 80%, or even 85%. There was a massive population in favour of a conservative game that would mostly remain untouched, and therefore kept pure from the corruption RS2 had previously endured. Right from the start, players started noticing holes in this system. After all, the OSRS Team was still the sole decider of what would actually be polled in the first place. Long-requested changes took forever to be polled (if ever polled at all) if the OSRS Team didn’t want to deal with that particular problem or didn’t like that idea. Similarly, the Team essentially had desk jobs with a noose kept around their neck – they could perform almost nothing without the players, their slave masters, seeing, criticizing, and tearing out every inch of developmental or visionary freedom they had. Ever hear about the controversy of Erin the duck? Take a look at the wiki or do a search through the subreddit history. It’s pretty fantastic, and a good window into the minds of the early OSRS playerbase. But as the years have gone on, the perspective of the players has shifted. There is now a much healthier and more trusting relationship between them and the Team, much more flexibility in what the players allow the Team to handle, and a much greater tolerance and even love of change. But the challenges of democracy haven’t just fallen away. Everyone having the right to vote is a fundamental tenet of the democratic system, but unfortunately that also means that everyone has the right to vote. For OSRS, that means that every member, whether it’s their first day in game, their ten thousandth hour played, those who have no idea about what the poll’s about, those who haven’t read a single quest (the worst group), those who RWT and bot, those who scam and lure, and every professional armchair developer like myself get to vote. In short, no one will ever be perfectly informed on every aspect of the game, or at least know when to skip when they should. Similarly, people will almost never vote in favour of making their game harder, even at the cost of game integrity, or at least not enough people would vote in such a fashion to reach a 75% majority. These issues are well recognized. The adoption of the controversial “integrity updates” was Jagex’s solution to these problems. In this way, Jagex has become even more like a government to the players. The average citizen of a democratic country cannot and will not make major decisions that favour everyone around themselves if it comes at a personal cost. Rather, that’s one of the major roles of a government: to make decisions for changes for the common good that an individual can’t or won’t make on their own. No one’s going to willingly hand over cash to help repave a road on the opposite side of the city – that’s why taxes are a necessary evil. It’s easy to see that the players don’t always know what’s best for their game and sometimes need to rely on that parent to decide for them, even if it results in some personal loss. But players still generally like the polls, and Jagex still appears to respect them for the most part. Being the government of the game, Jagex could very well choose to ignore them, but would risk the loss of their citizens to other lands. And there are some very strong reasons to keep them: the players still like having at least one hand on the wheel when it comes to new content or ideas. Also, it acts as a nice veto card should Jagex try to push RS3’s abusive tactics on OSRS and therefore prevent such potential damage. But now we come to the topic of today: the introduction of a new skill. Essentially, a new skill must pass a poll in order to enter the game. While it’s easy to say, “If a skill idea is good enough, it’ll pass the threshold,” that’s not entirely true. The only skill that could really pass the 75% mark is not necessarily a well-designed skill, but rather a crowd-pleasing skill. While the two aren’t mutually exclusive, the latter is far easier to make than the former. Take Dungeoneering: if you were to poll it today as an exact replica of RS2’s version, it would likely be the highest scoring skill yet, perhaps even passing, despite every criticism that’s been previously emphasized describing why it has no respect for the current definition of “skill.” Furthermore, a crowd-pleasing skill can easily fall prey to deindividualization of vision and result in a bland “studio skill” (in the same vein as a “studio film”), one that feels manufactured by a board of soulless machines rather than a director’s unique creation. This draws straight back to the afore-mentioned issues with democracy: that people A) don’t always understand what they’re voting for or against, and B) people will never vote for something that makes their game tougher or results in no benefit to oneself. Again, these were not issues in the old days of RS2, but are the problems we face with our modern standards and decision making systems. The reality that must be faced is that the polling system is not an engine of creation nor is it a means of constructive feedback – it’s a system of judgement, binary and oversimplified in its methodology. It’s easy to interact with and requires no more than 10 seconds of a player’s time, a mere mindless moment, to decide the fate of an idea made by an individual or team, regardless of their deep or shallow knowledge of game mechanics, strong or weak vision of design philosophy, great or terrible understanding of the game’s history, and their awareness of blindness towards the modern community. It’s a system which disproportionately boils down the quality of discussion that is necessitated by a skill, which gives it the same significance as the question “Should we allow players to recolour the Rocky pet by feeding it berries?” with the only available answers being a dualistic “This idea is perfect and should be implemented exactly as outlined” or “This idea is terrible and should never be spoken of again.” So what do you do? Let Jagex throw in whatever they want? Reduce the threshold, or reduce it just for skills? Make a poll that lists a bunch of skills and forces the players to choose one of them to enter the game? Simply poll the question, “Should we have a new skill?” then let Jagex decide what it is? Put more options on the scale of “yes” to “no” and weigh each appropriately? All these options sound distasteful because there are obvious weaknesses to each. But that is the Third Great Irony we face: an immense desire for a new skill, but no realistic means to ever get one.
6-0 - Conclusion
I can only imagine that if you’ve truly read everything up to this point, it’s taken you through quite the rollercoaster. We’ve walked through the history of OSRS skill attempts, unconstructive arguments, various aspects of modern skill design philosophy, and the OSRS Team and skill design process. When you take it all together, it’s easy to get overwhelmed by all the thought that needs to go into a modern skill and all the issues that might prevent its success. Complexity, naming conventions, categorizations, integration, rewards and motivations, bankstanding and buyables, the difficulties of skill bloat, balancing, and skill endgames, aesthetics, the design process, public presentation, development effort, democracy and polling - these are the challenges of designing and introducing modern skills. To have to cope with it all is draining and maybe even impossible, and therefore it begs the question: is trying to get a new skill even worth it? Maybe. Thanks for reading. Tl;dr: Designing a modern skill requires acknowledging the vast history of Runescape, understanding why players make certain criticisms and what exactly they’re saying in terms of game mechanics, before finally developing solutions. Only then can you subject your ideas to a polling system that is built to oversimplify them.
OBLIGATORY FILLER MATERIAL – ESCAPE FROM STALAG SULTANATE, Part 1
That reminds me of a story. “HELLFIRE AND DALMATIANS!” I shouted to no one in particular. “What’s the problem, dear?” Esme asks in that way she has of telling me to calm down without having to say it directly. “This bloody fucking country. A day late and several dollars short.” I fume. “Can’t get a new liquor license because of the bloody COVID. Can’t go to a hotel bar and have a snort because of the bloody COVID. Can’t even slip across the border to Dubai and soak up some room service and buckets of complimentary cocktails because of the bloody COVID.” Yes, the Sultanate of Oman, in its infinitesimal wisdom, has traditionally followed other GCC countries by at least three months in making any sort of proclamations regarding this latest bugaboo: the hideous, deadly, itchy, loathsome, and possibly serially bent, noxious, pandemical COVID-19; aka, this pandemic’s entry for flu. Their response is one of immense knee-jerk without first having thought of the consequences. “Bloody lockdown, 2100 to 0700. What is this, the whole fucking country’s been bad and now being sent to bed without any supper?” I wondered aloud. “Idiot benchodes.” Even Esme couldn’t come up with a rejoinder to that. “Plus they close all the bars. And all the hotels. And the fucking bottle shops. It’s not enough that these fucking Muppets jack the ‘sin tax’ on booze and cigars by 100%, now they’re not even legally available.” I swore. Of course, once you’ve spent even a small portion of the time that I have in the Middle East, you have your connections. Your system. Your access to the seedy underbelly of any society; the venerable Black Market. Jesus Q. Christ on toast with baked beans, fried tomatoes, black pudding, and mushrooms, I could get most anything in the Middle East, be it legal, shady, or just plain illegal. However, before you all recoil in horror that the venerable Dr. Rocknocker dabbles in the prohibited, just remember: the ends always dojustify the means. “I'm telling you, Esme dear; this Gulf story is getting too complicated. The weasels have started closing in.” I complain to Es as she hands me a fresh drink. “Do you think…?” Esme asks expectantly. Esme is more than ready to go. I’ve used this place as a base of operations for years whilst I wear out the Omani legal system suing those asswipes that think just because they’re local and I’m a kafir, they’re immune to the law. I’ve spent a long, profitable and time-consuming period of the last few years proving them wrong. But, time was marching onwards. I agreed with Esme, we’ve milked this particular cash cow dry. It was time to hitch up our bootstraps, call it a day, and get the hell out of Dodge. But not before I took care of a few loose ends. Now, the country had recently lost its venerable Sultan, who croaked back in January of this year. Sultan Qaboos was a good egg, friend to expat and local alike. Did a shitload of good for this benighted Middle East sandpit. Dragged it kicking and screaming out of the 12th century into, well, not exactly the 21st, but a whole hell of a lot closer. He realized that he needed revolutionary, not evolutionary change in the country. By revolutionary, he needed American, British, Canadian, and the like Western Expats here to do the heavy thinking and lifting and Eastern Expats like Indians, Bangladeshis and Nepalese to do all the scut work. Yeah, I know. That sounds racist as fuck, but sometimes that’s the way the ball bounced. Simple evolution of society where Omanis graduated the local equivalent of grade school, through high school, into University, and finally into Entry level jobs in the oil and gas industry wasn’t going to cut it. Took too long and the country needed a serious cash flow now. So, that’s what he did. And it worked a treat. Then he died. And his chosen took over. Except his chosen was pretty much antithetical to everything the previous and very revered and successful, Sultan wanted. Soon, there are 100% ‘sin taxes’ aimed directly at the western expats. Tourists included. Then there’s quotas and ‘Letters of No Objection’, which are impossible to get so that the Eastern Expats can’t switch jobs. Then, there are Sultanic proclamations of new taxes on tourists, new taxes on fast food, new taxes on this, that and the other. Then there’s, in his own words, “Oman is for Omanis”, blatantly ridiculous and xenophobic Omanization, and the general swipe at all expats. “GET OUT.” This was the clear message of the new sultan. He wanted to take over and possibly nationalize all the oil workings in the country. Ask Venezuela, Iran, and Myanmar how well that worked out for them. Then he wants all expats out on their asses. He wants Omanis to take over all the jobs, even though they’re nowhere near educated nor experienced enough for the positions. Then take up the massive GDP slack in lower oil production and oil prices with tourism. Given everything else, that last line should be enough to get him off the throne. He’s fucking nuts if he thinks people are going to want to cruise or overland anywhere near a place where foreigners are seen only as a cash supply, are despised, and would welcome these all new 100% tax levies. Be that as it may, Esme and I decided that we have had enough of 135O F summer temperatures, virtual house arrest under the guise of a COVID lockdown, and idiots who were the only ones stupid or twisted enough not to vamoose when the great, big bloody letters were clearly written on the wall. But, there was the physical act of getting out of the country. Now, I had plenty of strings which I could pull, but I decided I’d start low and save those until we really needed them. So low, in fact, we went to the US Embassy in Muscat. “How low can you go?” reverberated through my head. What a haven of sad-sacks, flubadubs, and third rate hobbyists. Was either Esme or I surprised that when we finally secured an invitation to the embassy, that required a bit of string-pulling with the ex-Ambassador to Oman, now in Kabul; that besides the peach-fuzz faced Marine guarding the place, we were the only Americans in the joint? “This is American soil!” I laughed, as I pulled out a huge Cuban cigar and was immediately told to extinguish it. “We’re as American as apple pie and napalm! We file our fucking 1040s every April; I pay my fucking long-distance taxes and demand US assistance to vacate this gloomy place of sandy, sweaty, sultry Sturm und Drang!” “Shut up, Rock”, Esme chided me, “They don’t understand English. Much less, the florid English the way you trowel it on.” “Fuckbuckets”, I remonstrated. “Here I had memorized the whole Patrick Henry speech he made to the Second Virginia Convention on March 23, 1775, at St. John's Church in Richmond, Virginia. Troglodytes. No admiration for the classics.” “Rock, dear?” Esme noted, “It’s almost 1100 hours. Best to get to our appointment.” True, our appointment was slated for 1100 hours. But around here, anything starting within three hours of the stated time was considered close enough. We dragged ourselves, none too cheerfully, to the waiting room. Once we pried open the door, there was the usual “If you hear a high pitched wail, hit the deck” signs, and other things one could do while kissing one’s ass goodbye if there was a terrorist attack, we had a whole new slew of bullshit with which to deal. “Social distancing. 6 feet. Or if you’re from Baja Canada, 1 cow’s length.” “Must wear a mask. Bandanna, bandoliers, and large-caliber weapons or sombrero optional.” “No sitting. Faux Naugahyde seats are too difficult to sterilize. You must stand at attention, do not talk amongst yourselves, and remain patient until your number is called.” “Well, fuck!”, I snorted quietly, as I raised my first secret flask in rapt attention to our old glory of red, white, and blue. “Good thing they didn’t say nothin’ about getting a load on. If I’m going to be treated like cattle, I’m going to at least have something to chew on in the process.” “Oh, lord”, Esme grumbled, “You didn’t bring that Japanese Rye Whiskey with you, did you?” “ルハイム”, I said, which is Japanese for “L’chaim”! “Oh, hell”, Esme grinned as she borrowed my flask, “This is going to be a long day.” I began to protest but remembered that I was wearing my Agency-issued field vest. I must have had at least 5 or 6 more flasks lurking around in those pockets somewhere. Funny aside: they don’t bother with my going through an X-ray machine nor do they confiscate my phone, radio, knives, nor other field equipment when I go to the US Embassy. It took them almost two solid hours last time, and by the time they got to my Brunton Compass, emergency flasks, a few spare blasting cap boosters, and saw the label sewn into the back of my vest, they decided they’d just send Rack and Ruin some evil Emails and let me pass unmolested. “I’ll drink to that”, I say as I raise a flask as the locals raise an eyebrow. “Courtesy of Atheists International. We’re here for your children…” The collective gasps and growls indicate they weren’t happy with me or my betrothed. “Don’t care, Buckwheat”, I smiled, “Never did, never will. We’re out of here for good. You can curse my name all you want then. But, then again, why you standing in the American Embassy trying to get a visa to visit the land of the great evil empire?” All the locals and most of the Eastern Expats crowded into a corner as far away from us as they physically could. “BOO!” I snickered over a shot of Wild Turkey 101 Rye. “Now serving number 58! Number 58!” came the call over the tannoy. “Look at that”, I remarked to Es as I stashed both our flasks, “It’s only 12:35. Record time.” We both shimmy into the glass-fronted and presumably bullet- but not C-4 resistant- glass. We pick up the telephones there and acknowledge that we are who we said we were. The East Indian fella, one Harsh Talavalakar, behind the multiple layers of glass asked us why we were here. “Didn’t you read the appointment card?” I asked, “We’re here to have Uncle Sam get us passage out of this sordid and sultry place.” “You are American citizens?” he asked, vacantly. “That’s what it says on appointment cards and these here blue passports,” I replied. “Well, how was I to know?” he scoffed, returning to his half-consumed powdered sugar doughnut. “Maybe read the appointment card and see that we are US Citizens here on the behest of Ambassador Bethesda Orun?” I replied. “Like I have time to read everything that comes across my desk”, he scoffed again. I tapped on the glass to make certain I had his full attention. “Look here, Herr Harsh. I’m not sure how you got this job at the American Consulate but want to be very clear with you. My wife and I are residents of this place for the last 20 years. We’re American citizens of very high standing and have more high powered connections than an Arduino in a nuclear power station. We have direct connections with Langley, Virginia and if you want to retain your cushy job, you’ll put down that fucking doughnut and pay very rapt attention to the two Americans standing here who are getting more and more irritated with some Indian benchode that doesn’t think he has to really do his job. You savvy? You diggin’ me, Beaumont” I guess the benchode got his attention. The two scowls he received from Esme and myself sort of cemented the idea that we’re not too pleased and not with to be trifled. “Yes, sir?” he said, “And ma’am”, as Harsh quickly corrected himself as the doughnut disappeared. “We want out. Gone. Vamoose. Outta here. AMF. You got me?” he nods behind the shatterprone glass. “Now I know the borders are sealed and the airport’s closed, but fuck that. We want out and we want gone for good. I can’t make that much simpler or clearer. Get after it, son.” I said, as seriously as I could. “Well, sir”, he began, “ The airport’s closed…” “Are you deaf or born stupid and been losing ground ever since?” I asked, rhetorically. “I know that. We all know that. My HAT knows that. So, what devious little plan does the US Embassy have in store in just such an unsavory situation?” “Well”, he chokes a bit, “There’s this unofficial lottery where America citizens are issued random numbers and if their number comes up, there are seats made available on special clandestine charter flights.” Considering that Es and I are some of the last American citizens left in the country, I thought our chances might be pretty good. “OK”, I said, “Let us have two of your finest numbers.” “Yes, sir”, he said, “That will be US$500 total.” “Excuse me?” I said. “Oh, yes”, he smirked, “US$250 per number. Chances are you’ll never be called, but with these numbers, at least you stand a chance.” “OK”, I said, “Forget the numbers. I want your name and operating number. I’ve got a report to file that’s due in Virginia before breakfast.” “Oh, sir”, he smirked more, “I cannot release that information. Thanking you. Now be having a good day.” And he slammed the supposedly bulletproof shield between himself and Es and me. “Bulletproof? Maybe. Nitro proof? No fucking way.” I groused as I fished out a couple of blasting cap superfast boosters. “Calm down, dear”, Esme smiled to me as we walked out, “When he wasn’t looking, I took his picture, got his operating number, and full name. In fact, I think I got some information on where he lives…” In the cab on the way back to our villa, I reviewed and confirmed Es’s subterfuge. Flasks number 6 and 8 needed serious replenishment by the time we arrived home. “That’s fucking right, Ruin.” I yelled over the phone, “We need extraction. And now. Along with our personal effects and a few hundredweight of ‘don’t ask, don’t tell’ boxes of stuff we need to be transported.” “Well, Rock”, Agent Ruin replied, “That’s a tall order. Usually, extraction is for one person and the stuff they’re wearing. Tell you what. Let Rack and I work on it for a week or so. We’ll arrange transport of your personal effects, then we’ll see about getting you and Esme to Dubai. At least there, you can order a plane. Hell, knowing you, you’ll get Tony Stark to fly in and provide door to door service. Sit tight. We’ll be back in touch.” “Good!” I say as I slam the phone down. With these newfangled cellphone telephone instruments, they lack the same sort of satisfying “KER FUCKING CLANG” the old landlines used to have. “Es!”, I yelled, “Start packing. We’re due out of here within a week.” That meant we needed to do some packing triage: • Things going home with us. • Things being shipped. • Things being sold. • Things being left behind. • Things no one was about to get their furry little mitts on. “Oh, fuck!”, I startled. I had just remembered the John Wick-ian stash of various explosives, and adjunct materials I had buried in the basement. Obviously, I couldn’t take it home with me, I couldn’t sell it, and I sure as festering frothing fuck wasn’t going to leave it here. I needed to call one of my more shifty and swarthy friends and arrange for passage out to the deep, dark desert. Around the area where the new sultan had opened a couple of brand new landfills. Looks like I was going to expand them a few meters once we disposed of the few hundred kilos of accumulation I attained over the last few years. See, I’m a packrat. I never leave nor toss anything that might be convenient. Might have a benefit. Might prove to be useful sometime down the line. So, I’ve accumulated a bit of kit. Like…well…a few hundred sticks of Du Pont 60% Extra Fast Dynamite. A couple dozen spools of Z-4 Primacord, in various degrees of fullness. A shitload of C-4; enough bricks for a Floydian wall. A couple, well, a dozen, well, two dozen cases of binary liquid explosives. Hey, this stuff is hard to come by… Continuing, several thousand blasting caps and superfast flash blasting cap boosters. Some mercury fulminate. Some nitrogen triiodide. A couple tens of pounds of PETN. An equal amount of RDX. A few Erlenmeyer flasks full of shit even I’m not certain of what it is… Oh. And a few kilos of freshly decanted, raw nitroglycerin; packed in sturdy wooden boxes lined with new fuzzy lamb’s wool. Not that much. Just 10 or 12 kilos. Yeah. I can’t leave that here. Even a small accident with this stuff would lay waste to not only our villa; but my landlord’s villa with whom we share a common wall. Besides, as Omanis go, my landlord was the only dishdasha dressed denizen for which I had any respect or admiration. He was a good guy. I needed to return his villa at least in some semblance of what I received when we first rented from him. So, I had to dispose of many, many billions of kilojoules of potential energy. I needed to do this out in a distant and far away from prying ears and eyes regions and I needed a truck to haul this stuff out to the range. To be continued…
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ASLAproject - a new empire in the decentralized environment of the cryptocurrency world
Our experts are capable of providing any advises and help to anyone who wants to join the project. We promise that our projects are not only profitable but also breathtaking. We are developing every day, do not miss the opportunity to be part of a grand project with a great future. https://preview.redd.it/82fpaaolx2p51.png?width=977&format=png&auto=webp&s=80e78b1b89549ec3b6dbd60b0a6903c28bb49519 ASLAproject is A decentralized ecosystem of products based on smart contracts of the Tron blockchain project for earning profit and further investing. We, the development team, are working to improve the ecosystem and develop its products. Our main task today is to create the best environment for the users to acquire money. At the same time, we do not conduct ICO and crowdfunding. The goal is to create and implement an ecosystem with constantly updated products for your earnings, develop and implement tools for business and beyond. Much has already been done, but more still needs to be done. Today, tokens cost less than what you want, but prices are already rising due to new product releases and community / project partners that form a solid foundation for future achievements. Tokens and products Our project is based on two coins that focus on all ecosystem products: ASLA and ASLAgame (Aga). 1. ASLAtrade is a binary options trading platform. https://preview.redd.it/ga3pf8cnx2p51.png?width=978&format=png&auto=webp&s=25beb4b77b7ce0a87b9e58cd0f068f9536b6da14 ASLA is a token attached to the ASLAtrade platform, which is extracted through a unique mining system through binary options trading. In the image below, you can see the required amount of TRX spent to get a single token. Every day this amount is increasing. Below is the menu for determining the freezing/withdrawal of tokens:
When decent amount of tokens is frozen, it pays back with dividends that are collected in 40% from the platform's total pool.
By withdrawing tokens to your wallet, the user receives dividends in the form of Aga tokens, which are linked to our products such as messenger, games, etc.
ASLA holders have implemented a feature that allows them to mine Aga tokens when in frozen state: - Purchased ASLA in frozen state gives 20% of Aga tokens; - Mined ASLA on the platform gives 25% of Aga tokens. https://preview.redd.it/d3b543nox2p51.png?width=978&format=png&auto=webp&s=f9045017ce52341529c3b8945c4f5bf170b85135 • Trading on three cryptocurrency pairs: BTC, ETH, BTH with a choice of different transaction duration • Freeze ASLA to receive dividends in the form of TRX/Aga of the total pool platform • Withdrawal of ASLA for trading on exchanges, or receiving dividends in the form of Aga tokens for storing tokens on the wallet https://preview.redd.it/707goinpx2p51.png?width=978&format=png&auto=webp&s=42cebafced5c987417408da564aae35abc72b05c ASLAtrade: https://aslaproject.com/trading?lang=ru 2. ASLAbet is the first cryptocurrency tote with a wide range of functions based on smart contracts. https://preview.redd.it/1gx7p62rx2p51.png?width=1920&format=png&auto=webp&s=bc94767f6223e15b25e84d00242684ca1110c1ec Our team is working on the ecosystem for maximum benefit to the project users. We present the ASLAbet cryptocurrency tote based on betting against people, not against the company! Bets on popular matches and favorite teams, winning percentages are formed automatically depending on the size of the bet and the number of players. We do not limit ourselves to one direction, but also understand the interests of users. For this case, everyone will have the opportunity to create their own event, for which they will eventually receive a reward if it passes a vote among the community. On the example of the recent match between Alexander Emelianenko and Magomed Ismailov, all those who put their bets on Alexander's victory completely lost their funds. 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The beta version is expected to include audio and video calls, a more functional interface, chats and channels, and much more. • Complete tasks inside the messenger to get rewards in the form of Aga tokens. • The most convenient and modern design of the app. • Withdrawal of earned tokens to your wallet. Play Market:https://play.google.com/store/apps/details?id=com.aslaproject.messenger&hl=en_US App Store:https://apps.apple.com/ru/app/asla-messengeid1527990589 4. Games based on blockchain technology for earning cryptocurrency https://preview.redd.it/7o74tpoux2p51.png?width=977&format=png&auto=webp&s=83305e57fdca9c312d3d271e35d5a88e08a705f2 Today, games are of great importance, this is a new way of gaming, in which we want to participate. Our main goal is to implement a gaming platform with games for earning money. Play with your friends, compete against the best players and earn cryptocurrency for winning your favorite games. Currently in development are games such as "Heads and Tails", "Rock, paper, scissors", Dice, backgammon, chess, and larger projects – shooters with maximum gameplay, etc. • A set of games of various genres with earnings • Competitions, tournaments and other events with rewards in case of winnings • Maximum decentralization and the ability to view all smart contracts Earn money with us just playing, it's really easy! 5. ASLAbank - is a cryptocurrency bank for users with broad functionality. The project team is developing a unique cryptocurrency bank for the community. The product's idea is that users will be able to borrow cryptocurrency with different priority from ASLA token holders. The user's reputation will grow with the number of completed applications. All permits, lawyers, consulting. Everything is in the legal field of Russia. We aim to cooperate on a long-term basis within the framework of current legislation on the territory of the Russian Federation. 6. ASLAforum - is a project forum for discussing Internet industry projects. There are many developing projects in the digital world that have a place to be known to their users, and these are Russian-language projects. To do this, a forum for reviews, analyses and discussions of these projects will soon be implemented, where users will earn cryptocurrency for this. The main goal of the forum is to provide the community with visibility of all worthy projects, both those that have just started their existence and those that have years of work behind them. Consulting, assistance, training, as well as personal webinars from the project on the topic of earnings will be in one area. Users will be able to discuss, review, and share their thoughts about a particular project so that it can get a well-deserved reputation. 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Selling your Covered Call - Thoughts on How to Select Your Strike and Expiration
Congratulations! You are a bag holder of company XYZ which was thought to be the best penny stock ever. Instead of feeling sorry, you consider selling covered calls to help reduce your cost basis - and eventually get out of your bags with minimal loss or even a profit! First - let's review the call option contract. The holder of the call option contract has the right but not the obligation to purchase 100 shares of XYZ at the strike price per share. This contract has an expiration date. We assume American style option contracts which means that the option can be exercised at any point prior to expiration. Thus, there are three parameters to the option contract - the strike price, the expiration date and the premium - which represents the price per share of the contract. The holder of the call option contract is the person that buys the option. The writer of the contract is the seller. The buyer (or holder) pays the premium. The seller (or writer) collects the premium. As an XYZ bag holder, the covered call may help. By writing a call contract against your XYZ shares, you can collect premium to reduce your investment cost in XYZ - reducing your average cost per share. For every 100 shares of XYZ, you can write 1 call contract. Notice that that by selling the contract, you do not control if the call is exercised - only the holder of the contract can exercise it. There are several online descriptions about the covered call strategy. Here is an example that might be useful to review Covered Call Description The general guidance is to select the call strike at the price in which you would be happy selling your shares. However, the context of most online resources on the covered call strategy assume that you either just purchased the shares at market value or your average cost is below the market price. In the case as a bag holder, your average cost is most likely over - if not significantly over - the current market price. This situation simply means that you have a little work to reduce your average before you are ready to have your bags called away. For example, you would not want to have your strike set at $2.50 when your average is above that value as this would guarantee a net loss. (However, if you are simply trying to rid your bags and your average is slightly above the strike, then you might consider it as the strike price). One more abstract concept before getting to what you want to know. The following link shows the Profit/Loss Diagram for Covered Call Conceptually, the blue line shows the profit/loss value of your long stock position. The line crosses the x-axis at your average cost, i.e the break-even point for the long stock position. The green/red hockey stick is the profit (green) or loss (red) of the covered call position (100 long stock + 1 short call option). The profit has a maximum value at the strike price. This plateau is due to the fact that you only receive the agreed upon strike price per share when the call option is exercised. Below the strike, the profit decreases along the unit slope line until the value becomes negative. It is a misnomer to say that the covered call is at 'loss' since it is really the long stock that has decreased in value - but it is not loss (yet). Note that the break-even point marked in the plot is simply the reduced averaged cost from the collected premium selling the covered call. As a bag holder, it will be a two-stage process: (1) reduce the average cost (2) get rid of bags. Okay let's talk selecting strike and expiration. You must jointly select these two parameters. Far OTM strikes will collect less premium where the premium will increase as you move the strike closer to the share price. Shorter DTE will also collect less premium where the premium will increase as you increase the DTE. It is easier to describe stage 2 "get rid of bags" first. Let us pretend that our hypothetical bag of 100 XYZ shares cost us $5.15/share. The current XYZ market price is $3/share - our hole is $2.15/share that we need to dig out. Finally, assume the following option chain (all hypothetical):
Purely made up the numbers, but the table illustrates the notional behavior of an option chain. The option value (premium) is the intrinsic value plus the time value. Only the $2.5 strike has intrinsic value since the share price is $3 (which is greater than $2.5). Notice that intrinsic value cannot be negative. The rest of the premium is the time value of the option which is essentially the monetary bet associated with the probability that the share price will exceed the strike at expiration. According to the table, we could collect the most premium by selling the 110 DTE $2.5 call for $0.95. However, there is a couple problems with that option contract. We are sitting with bags at $5.15/share and receiving $0.95 will only reduce our average to $4.20/share. On expiration, if still above $2.5, then we are assigned, shares called away and we receive $2.50/share or a loss of $170 - not good. Well, then how about the $5 strike at 110 DTE for $0.50? This reduces us to $4.65/share which is under the $5 strike so we would make a profit of $35! This is true - however 110 days is a long time to make $35. You might say that is fine you just want to get the bags gone don't care. Well maybe consider a shorter DTE - even the 20 DTE or 50 DTE would collect premium that reduces your average below $5. This would allow you to react to any stock movement that occurs in the near-term. Consider person A sells the 110 DTE $5 call and person B sells the 50 DTE $5 call. Suppose that the XYZ stock increases to $4.95/share in 50 days then goes to $8 in the next 30 days then drops to $3 after another 30 days. This timeline goes 110 days and person A had to watch the price go up and fall back to the same spot with XYZ stock at $3/share. Granted the premium collected reduced the average but stilling hold the bags. Person B on the other hand has the call expire worthless when XYZ is at $4.95/share. A decision can be made - sell immediately, sell another $5 call or sell a $7.5 call. Suppose the $7.5 call is sold with 30 DTE collecting some premium, then - jackpot - the shares are called away when XYZ is trading at $8/share! Of course, no one can predict the future, but the shorter DTE enables more decision points. The takeaway for the second step in the 2-stage approach is that you need to select your profit target to help guide your strike selection. In this example, are you happy with the XYZ shares called away at $5/share or do you want $7.5/share? What is your opinion on the stock price trajectory? When do you foresee decision points? This will help determine the strike/expiration that matches your thoughts. Note: studies have shown that actively managing your position results in better performance than simply waiting for expiration, so you can adjust the position if your assessment on the movement is incorrect. Let's circle back to the first step "reduce the average cost". What if your average cost of your 100 shares of XYZ is $8/share? Clearly, all of the strikes in our example option chain above is "bad" to a certain extent since we would stand to lose a lot of money if the option contract is exercised. However, by describing the second step, we know the objective for this first step is to reduce our average such that we can profit from the strikes. How do we achieve this objective? It is somewhat the same process as previously described, but you need to do your homework a little more diligently. What is your forecast on the stock movement? Since $7.5 is the closest strike to your average, when do you expect XYZ to rise from $3/share to $7.5/share? Without PR, you might say never. With some PR then maybe 50/50 chance - if so, then what is the outlook for PR? What do you think the chances of going to $5/share where you could collect more premium? Suppose that a few XYZ bag holders (all with a $8/share cost) discuss there outlook of the XYZ stock price in the next 120 days:
Person A does not seem to think much price movement will occur. This person might sell the $5 call with either 20 DTE or 50 DTE. Then upon expiration, sell another $5 call for another 20-50 DTE. Person A could keep repeating this until the average is reduced enough to move onto step-2. Of course, this approach is risky if the Person A price forecast is incorrect and the stock price goes up - which might result in assignment too soon. Person B appears to be the most bullish of the group. This person might sell the $5 call with 20 DTE then upon expiration sell the $7.5 call. After expiration, Person B might decide to leave the shares uncovered because her homework says XYZ is going to explode and she wants to capture those gains! Person C believes that there will be a step increase in 10 days maybe due to major PR event. This person will not have the chance to reduce the average in time to sell quickly, so first he sells a $7.5 call with 20 DTE to chip at the average. At expiration, Person C would continue to sell $7.5 calls until the average at the point where he can move onto the "get rid of bags" step. In all causes, each person must form an opinion on the XYZ price movement. Of course, the prediction will be wrong at some level (otherwise they wouldn't be bag holders!). The takeaway for the first step in the 2-stage approach is that you need to do your homework to better forecast the price movement to identify the correct strikes to bring down your average. The quality of the homework and the risk that you are willing to take will dedicate the speed at which you can reduce your average. Note that if you are unfortunate to have an extremely high average per share, then you might need to consider doing the good old buy-more-shares-to-average-down. This will be the fastest way to reduce your average. If you cannot invest more money, then the approach above will still work, but it will require much more patience. Remember there is no free lunch! Advanced note: there is another method to reduce your (high) average per share - selling cash secured puts. It is the "put version" of a cover call. Suppose that you sell a XYZ $2.5 put contract for $0.50 with 60 DTE. You collect $50 from the premium of the contract. This money is immediately in your bank and reduces your investment cost. But what did you sell? If XYZ is trading below $2.50, then you will be assigned 100 shares of XYZ at $2.50/share or $250. You own more shares, but at a price which will reduce your average further. Being cash secured, your brokerage will reserve $250 from your account when you sell the contract. In essence, you reduce your buying power by $250 and conditionally purchase the shares - you do not have them until assignment. If XYZ is greater than the strike at expiration, then your broker gives back $250 cash / buying power and you keep the premium. Early assignment - one concern is the chance of early assignment. The American style option contract allows the holder the opportunity to exercise the contract at any time prior to expiration. Early assignment almost never occurs. There are special cases that typically deal with dividends but most penny stocks are not in the position to hand out dividends. Aside from that, the holder would be throwing away option time value by early exercise. It possibly can handle - probably won't - it actually would be a benefit when selling covered calls as you would receive your profit more quickly! This post has probably gone too long! I will stop and let's discuss this matter. I will add follow-on material with some of the following topics which factors into this discussion:
Effect of earnings / PR / binary events on the option contract - this reaction may be different than the underlying stock reaction to the event
The Black-Scholes option pricing model allows one to understand how the premium will change - note that "all models are incorrect, but some are useful"
The "Greeks" give you a sense about how prices change when the stock price change - Meet the Greeks video
Position Management - when to adjust, close, or roll
Legging position into strangles/straddles - more advanced position with higher risk / higher reward
Open to other suggestions. I'm sure there are some typos and unclear statements - I will edit as needed! \I'm not a financial advisor. Simply helping to 'coach' people through the process. You are responsible for your decisions. Do not execute a trade that you do not understand. Ask questions if needed!**
New England New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/ NewEnglandcoin Symbol: NENG NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones. Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt. 1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377 NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number Bitcoin Fork - Suitable for Home Hobbyists NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs. The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity. MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018) https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software. Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%. NENG v1.4.0 release enabled CPU mining inside android phones. Youtube Video Tutorial How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG. We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange. Twitter Airdrop Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners Graphic Redesign Bounty Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form. Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues. Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1 Milestones
Sep 3, 2018 - Genesis block was mined, NewEnglandcoin created
Sep 8, 2018 - github source uploaded, Window wallet development work started
Sep 11,2018 - Window Qt Graphic wallet completed
Sep 12,2018 - NewEnglandcoin Launched in both Bitcointalk forum and Marinecoin forum
Sep 14,2018 - NewEnglandcoin is listed at ShorelineCrypto Exchange
Sep 17,2018 - Block Explorer is up
Nov 23,2018 - New Source/Wallet Release v1.1.1 - Enabled Dynamic Addjustment on Mining Hashing Difficulty
Nov 28,2018 - NewEnglandcoin became CPU minable coin
Nov 30,2018 - First Retail Real Life usage for NewEnglandcoin Announced
Dec 28,2018 - Cheetah_Cpuminer under Linux is released
Dec 31,2018 - NENG Technical Whitepaper is released
Jan 2,2019 - Cheetah_Cpuminer under Windows is released
Jan 12,2019 - NENG v1.1.2 is released to support MacOS GUI CLI Wallet
Jan 13,2019 - Cheetah_CpuMiner under Mac is released
Feb 11,2019 - NewEnglandcoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork
Mar 16,2019 - NewEnglandcoin v22.214.171.124 Released - Ubuntu 18.04 Wallet Binary Files
Apr 7, 2019 - NENG Report on Security, Decentralization, Valuation
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto
Sep 1, 2019 - Shoreline Tradingbot project is Launched by ShorelineCrypto
Dec 19, 2019 - Shoreline Tradingbot v1.0 is Released by ShorelineCrypto
Jan 30, 2020 - Scrypt RandomSpike - NENG v1.3.0 Hardfork Proposed
Feb 24, 2020 - Scrypt RandomSpike - NENG core v1.3.0 Released
Jun 19, 2020 - Linux scripts for Futurebit Moonlander2 USB ASIC on solo mining Released
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining and Ubuntu 20.04 support
Jul 21, 2020 - NENG v126.96.36.199 Released for MacOS Wallet Upgrade with Catalina
Jul 30, 2020 - NENG v188.8.131.52 Released for Linux Wallet Upgrade with 8 Distros
Aug 11, 2020 - NENG v184.108.40.206 Released for Android arm64 Upgrade, Chromebook Support
Aug 30, 2020 - NENG v220.127.116.11 Released for Android/Chromebook with armhf, better hardware support
2018 Q3 - Birth of NewEnglandcoin, window/linux wallet - Done
2018 Q4 - Decentralization Phase I
Blockchain Upgrade - Dynamic hashing algorithm I - Done
Cheetah Version I- CPU Mining Automation Tool on Linux - Done
2019 Q1 - Decentralization Phase II
Cheetah Version II- CPU Mining Automation Tool on Window/Linux - Done
Blockchain Upgrade Dynamic hashing algorithm II - Done
2019 Q2 - Fiat Phase I
Assessment of Risk of 51% Attack on NENG - done
Launch of Fiat USD/NENG offering for U.S. residents - done
Initiation of Mobile Miner Project - Done
2019 Q3 - Shoreline Tradingbot, Mobile Project
Evaluation and planning of Mobile Miner Project - on Hold
Initiation of Trading Bot Project - Done
2019 Q4 - Shoreline Tradingbot
Shoreline tradingbot Release v1.0 - Done
2020 Q1 - Evaluate NENG core, Mobile Wallet Phase I
NENG core Decentralization Security Evaluation for v1.3.x - Done
Light Mobile Wallet Project Initiation, Evaluation
2020 Q2 - NENG Core, Mobile Wallet Phase II
NENG core Decentralization Security Hardfork on v1.3.x - Scrypt RandomSpike
Light Mobile Wallet Project Design, Coding
2020 Q3 - NENG core, NENG Mobile Wallet Phase II
Review on results of v1.3.x, NENG core Dev Decision on v1.4.x, Hardfork If needed
Light Mobile Wallet Project testing, alpha Release
2020 Q4 - Mobile Wallet Phase III
Light Mobile Wallet Project Beta Release
Light Mobile Wallet Server Deployment Evaluation and Decision
Most f the reviews we tend to have come back across reveal that the Cryptp soft platform is easy to Their client service is very efficient. We did a live check and confirmed that they respond at intervals a moment. Moreover, they are available 24/7. The Cryptp soft app is secure. They need all the mandatory measures in place to make sure data privacy. The Cryptp soft System is considered by several among the most effective robots within the market nowadays. We have a tendency to realize this robot to perform virtually the same with Bitcoin Rush, another top bitcoin robot. Read the review of Bitcoin Rush for more data? Cryptp soft registration method is straightforward, easy, and secure. You only want but 10 minutes to form an account and begin trading. Cryptp soft is a absolutely auto bot and is so accessible to everyone. https://preview.redd.it/giu6kclgfnn51.jpg?width=1280&format=pjpg&auto=webp&s=f605d84ba2174f831ca825dbaffddf061b3a55b5 You do not want to perceive trading lingo to use Immediate Edge. The following steps can get you started with this robot. STEP ONE: Fill the Signup type Visit the Cryptp soft home page and register your name, phone number, and email in the provided kind. You will be asked to verify your phone variety via a text code and email through a link. CryptoVibes will ascertain that the Cryptp soft registration process is secure. Their web site is SSL secured to confirm that hackers cannot steal personal information submitted through it. Cryptp soft cyber safety policy states that they're GDPR adherent. This suggests that they handle your knowledge with strict privacy. STEP TWO: Get matched with a broker The Cryptp soft Software then matches you with one in every of their partner brokers. The role of the broker is to receive deposits and facilitate transactions. We have a tendency to have determined that Cryptp soft only partners with regulated brokers. With a regulated broker, they guarantee that your cash is safe. Reputable regulators such as the FCA, FSB, ASIC, and CySEC need brokers to segregate deposits and submit periodic reports on deposit usage. You wold like a deposit of a minimum of $250 to trade with Immediate Edge. Do not confuse this quantity with the value of the robot. Cryptp soft does not need any license fee. The house owners of this robot build money by charging a small commission on the profits generated through the app Deposits with Cryptp soft should be created through Wire Transfer, Visa, and MasterCard. It takes a few seconds for a deposit to reflect in an exceedingly trader’s account. Cryptp soft does not charge any deposit fees. The Cryptp soft does provide a demo account to help traders familiarize themselves with its web-trader. CryptoVibes recommends that you are doing demo trading before going to live to trade. Please note that the demo is for demonstrative purposes solely. The results you receive on the platform are primarily based on historical information and could therefore not mirror what you'll get in live trading. The Cryptp soft live trader comes with features to help you outline the amount of risk you are willing to require per trade. You wish to go through the demo account to familiarize with these features. As mentioned severally in this review, you do not want specialized skills to use this robot. Live trading with Cryptp soft involves determining the quantity of capital you plan to risk per trade and clicking the live button. Scan our review of Bitcoin Trader for one more straightforward to use the robot. *Remember all trading risks and you shouldn’t risk more then you'll be able to afford to lose. How to get the most out of Cryptp soft App We have identified the following tips as paramount in guaranteeing that you make the most of Immediate Edge. Begin with a deposit of $250 – Given the level of risk involved in trading with Immediate Edge, you should start with a tiny investment. Follow crypto market news – You need to determine the type of reports that drives volatility high and capitalize on them. Cryptp soft claims to form the foremost profits throughout high market volatility. Trade for eight hours per day – In keeping with Immediate Edge, trading for at least eight hours per day can help maximize profits. Cryptp soft is entirely auto, and hence you'll be able to leave the robot running as you continue together with your daily errands. You are doing not want more than twenty minutes per day to observe your account. Close trading sessions at the tip of the day – Leaving open positions overnight is doubtless to translate to losses since the markets can change considerably overnight. It is better to shut sessions even if in the negative and start trading again the subsequent day. With a correct risk management strategy, there is no would like to fret concerning periodic losses. Following our review we tend to realize Cryptp soft to be legit. But, traders ought to take additional caution, provided that this bot comes at a degree of risk. Whereas the app claims it's potential to form profits of up to 50percent per day, you'll be able to additionally lose the complete deposit inside seconds. This is often not sudden for a high-frequency trading robot. We recommend that you just apply the required risk management measures. As a rule of thumb don't risk more than 10percent of your trading capital per trade. Also, never trade with an amount you cannot afford to lose. It is prudent to start small and add cash as you get conversant with the various features on the platform. Recently, a brand new trading software was added to the bitcoin investment trade. This software is termed Cryptp soft and it is allegedly created by a corporation or organization called the International Council for Bitcoin. There is additionally a letter out there on their web site that has been signed by someone named David. This person claims to own earned over 1,000,000 as a results of investing in bitcoins. What’s very shocking concerning this letter is that David claims to have earned that huge quantity in just one trade. If we have a tendency to place it in simple words, David became a millionaire overnight. We tend to highly doubt that a trading system that has been launched recently will have such potential. To verify the main points of this software and to determine its legitimacy, we have a tendency to conducted our own research and investigation. Cryptp soft is a bitcoin trading software that’s meant to assist newbie traders get involved in Cryptocurrency trading with less risk than ancient investment opportunities. Cryptp soft software was created by The International Council For Bitcoin who is PRO Bitcoin trader Group behind the Cryptp soft software. Notice out all concerning Cryptp soft software by The International Council For Bitcoin. Cryptp soft Software may be a nice development by a famous, well established and experienced bitcoin trader Investors with a viewpoint to enable traders to perform different tasks with ease and convenience. https://preview.redd.it/uuh85yghfnn51.png?width=1238&format=png&auto=webp&s=d0558e6e123114b6624d5a724b3b9b5983e717e1 Cryptp soft Software is essentially a Binary choices trading software that is designed to assist traders win and predict the Binary options trend of their respective choices. Cryptp soft APP works as a code to urge financial success, shows traders how they'll make money on-line, helps them to find different ways in which to induce huge returns on their investment. The Cryptp soft Trading Software additionally provides analyses of Market conditions so that traders will recognize what ought to be their next step. Cryptp soft System gives secret cryptocurrency ways that ultimately help binary traders to create thousands of greenbacks solely for some bucks. Several individuals can say that Cryptocurrency Trading may be a risky business and tend to remain faraway from it. But from my expertise, high volatility means HIGH RETURN OF INVESTMENT in Crypto Market. But this can be where the Cryptp soft comes into play, the mathematical algorithm used by Cryptp soft Software takes the guesswork out choosing a winning profitable trade. You don’t must be an expert. Like I said earlier, I actually have personally tested the Cryptp soft and found the success rate is about ninety sevenpercent. I don’t apprehend concerning you, but a ninety seven% probability of earning a profitable trade is TERRIBLY GOOD! I’ve never come across something like this trading software before. Keep reading, below are my Cryptp soft results for the past week or so… Watch over the Shoulder of a Professional Each Day and you'll be able to learn as you trade. Averaging 97% Winning Weeks With Cryptp soft— which suggests that more potential profits for you Cryptp soft Software Are Fully Transparent No previous experience with binary choices trading required Web-based mostly, no need for downloads, additionally works on phones, tablets You'll be able to Even Watch Cryptp soft Signals From Your Phone (iPhone Users — Photon Browser) If you are ready to begin making cash online with an on the spot edge, there has never been a better chance than currently. If you enjoy surfing the web for countless hours trying for the next Trading Method Secrets, never being able to urge centered, being overloaded with conflicting information, and not creating cash on-line, you ought to probably leave this page right now and get back to that Cryptp soft System strategy Cryptp soft bot could be a new cryptocurrency trading invention that comes with options that create this software stand out among others. It is conjointly an automatic trading platform that uses a smart program algorithm to detect favorable trading opportunities. It acts on its own or waits for a prompt command from the user depending on the software’s settings. But what makes this software unique and a favorite to individuals is what we have a tendency to shall unveil in this review. There have been lots of unverified claims of how totally different cryptocurrency software have helped several people to make massive profits leading to Scam individuals. However, it's pertinent for cryptocurrency traders to verify if a particular trading software may be a scam or legit, which is also ? After subjecting the features of the Cryptp soft bot software to a series of tests, the software isn't a scam however legit. The Cryptp soft bot is believed to have successful rate of 85%, that is a lot of than the 80percent benchmark for average software. The Cryptp soft bot has helped cryptocurrency traders to make sensible profits, which has been documented as testimonies on the software’s website. Trading on the platform is straightforward and might not require experience. We had to verify the simplicity of the software, and we tend to discovered that the software is easy to navigate. The demo trading feature of the software makes it potential for brand new users to hold out trading activities in an exceedingly simulated atmosphere while not having to risk their investment. This any gives credence to the legitimacy of the software because it ensures that new users get accustomed to the features of the software before continuing to measure to trade As earlier stated, the Cryptp soft bot could be a high-tech program software that comes with exceptional options that makes it among the simplest cryptocurrency trading software in the blockchain market. The outstanding features of the Cryptp soft bot embody the subsequent: https://www.cryptoerapro.com/cryptosoft/ http://www.cryptoerapro.com/ https://twitter.com/cryptoerapro https://www.instagram.com/cryptoerapro/ https://www.pinterest.co.uk/cryptoerapro/
Immediate Edge Review, Is Immediate Edge SCAM Or Legit Trading App?
Immediate Edge Review: Is This Crypto Robot Legit or Scam Immediate Edge Review and investigation 20twenty. The Immediate Edge app is a crypto, forex and choices trading robot utilized by folks to automatically obtain and sell Bitcoin and create profits. Wanting at the website, many people claim it helped them move from rags-to-riches trading Bitcoin. Further, some claims linked it to Ronaldo and Sir Alex Ferguson https://preview.redd.it/rttn3i4hohm51.jpg?width=1280&format=pjpg&auto=webp&s=8f0dc345c3ace4032d571d44fabe356f13ff1a33 Is Immediate Edge app legit or scam? Whereas the claims of its linkage to the higher than celebrities are unverifiable, we tend to can verify that the app is not a scam and permits individuals to trade Bitcoin using the Fibonacci strategy with ten minutes time frames The app, that allows people to deposit at least $250 through mastercard and Sofort, scores 88% rate and a 5 stars as a real software Since there are several scam cryptos, forex and options brokers who trick individuals to depositing money, and then they run away with the funds, we have taken time to review this software to determine if it is real or a scam. Is Immediate Edge scam or legit High success rate is reported by users with this software. The Immediate Edge web site provides truthful claims about the service though it will not mean the crypto trading risks are eliminated with its use. Customers should start with the minimum investment and increase it when satisfied with the utilization of the app. Click the link to access Immediate Edge official web site or keep reading to understand more This software will not seem to be a scam and users report that it helped them make real money trading on it.b site What is Immediate Edge App? Immediate Edgecould be a robot or auto-trading software that allows folks to trade forex, crypto and binary choices. A user deploys the algorithm-primarily based bot, which relies on a trading strategy that's automatically executed on a broker trading platform once deployed. The strategy is coded or set like to permit the user to automatically get and sell crypto, stock or choices on the broker platform at favorable prices, to form profits. It can do automatic market analysis by analyzing a vast amount of knowledge from completely different sources, at intervals seconds and with high accuracy, then use the data to predict the costs. It can then come up with a transparent buy or sell tradable signal and then execute it automatically by shopping for and/or selling on the broker platform. The software can, therefore, save a trader thousands of manual hours and labor they might have spent analyzing information to form trading choices and to follow the markets and to position and close trades. You conjointly do not want to understand anything concerning crypto, stock or option trading to use this auto trading app, although it is suggested to possess this information to keep improving on trading. Trading bots will achieve high success rates of more than 90p.c and have been tested to work. You may be searching for Immediate Edge scam but the website can tell you that you can expect to earn between $950 and $a pair of,two hundred per day using the software but that depends on your expertise. As a newbie, you'll not start making that a lot of immediately and conjointly it depends on how a lot of you invest. With an investment of $250, you'll be able to expect to form a lot of lesser although some people claim to own made $12a pair of in a very few hours using this software. That will not mean Immediate Edge is error-free. There still is a heap of unpredictable high volatility in crypto and bots will make mistakes and errors to create losses. Auto trading robots are better employed in combination with manual trading strategies. https://preview.redd.it/1zkt9v3johm51.jpg?width=1280&format=pjpg&auto=webp&s=85f7e7f5d0e9d6b60b4a8a6e37bb344dbbb8305c Immediate Edge Review How will Immediate Edge work? All a user has to try and do is join up at the Immediate Edge web site, then deposit funds to have access to the robot, when which they can begin trading by switching on the bot. It will would like no control or intervention from humans, beyond beginning and stopping it. You additionally need to stay checking, daily, to observe the performance of the software in doing its job and ensure that it is earning any returns needless to say. From there, you can confirm whether or not to extend or decrease your investment towards crypto, options or stock trading using this robot. You'll be able to also monitor performance to be ready to regulate the trading settings from your dashboard and optimize totally different features of the trading bot for instance set amount of trades or amount to invest in every trade. Founder of Immediate Edge In line with the Immediate Edge website, this trading bot was founded by Edwin James. Reportedly, he created billions with forex, crypto, and binary options trading and still shares his strategies on the way to trade the assets on the app. He founded the app to create it potential for brand spanking new traders to create cash in less than 3 minutes of signing up. How to sign up on Immediate Edge: Registration: Registering or signing up on the website is free but to start trading, you want to deposit no less than $250. You discover a registration type on the top right of the page, on that you type in your email, full names and phone numbers and country code. Create a password to be used for logging in later. Deposit funds: Depositing funds allows you to connect to a robot broker and then you'll begin the bot to start out trading. You'll deposit with Visa, Wire Transfers, Klarna or Skrill. The currencies supported are Swiss Franc, British Pound, US Greenback, and Euro and using a credit or debit card limits deposits to less than $/£/€/?10,00zero in one day and $/£/€/?40,000 in an exceedingly month. Immediate Edgeisn’t licensed to handle your funds, it works with brokers to handle the cash once it's deposited. Demo trading: Relying on the broker you're connected to, you can begin to practice trading with the Immediate Edge software. Some brokers do not have this feature on their platforms. Still, with the latter, you can test their options before you deposit cash to try and do live trading. With the demo options, you'll be able to familiarize yourself with the trading house before beginning to use real money to trade. Trading: Before and when you've got switched on auto-trading, you would like to check the trading settings daily. You'll regulate some things including stop-loss orders and when to try to to them, amount to speculate per trade and how several trades to try to to per day. You'll be able to also choose that cryptocurrencies to trade, and you'll be able to select all the most in style ones together with Bitcoin and Ethereum. You also get to observe the profits/losses and decide if to continue and/or when to prevent. https://preview.redd.it/c9scw5fkohm51.jpg?width=1280&format=pjpg&auto=webp&s=3d127be2887c4c8960023a8cf1b1f55297dbf250 Withdrawals, user verification, cost of using the app and alternative options The payouts or withdrawals are made by filling letter of invitation type on the funds’ management page and it can take two operating days to replicate in your checking account. No fee is charged on withdrawals. You'll withdraw your cash including the capital while not a lot of problem on this app, that is better than several that don't enable withdrawals at any time While some bots need verifications by asking for your ID and statements, this one will not. You are done once uploading your payment details. The bot charges a commission on profit. Besides, you get twenty fouseven client support on Immediate Edge Immediate Edge may be a legit, secure, user-friendly trading application for crypto, stocks, and choices. It has a zealous customer service and reports a high success rate. Another smart robot we have recently reviewed is Bitcoin Professional We tend to hope that this review helped you to make a decision concerning this trading app. Additionally, subscribe to our web site to be invariably notified concerning new software from this industry. For live reviews subscribe to our Youtube Channel or FB Page. https://www.immediateedge.org/ https://www.facebook.com/immediateedge/ https://www.pinterest.co.uk/immediateedge/ https://twitter.com/EdgeImmediate https://www.instagram.com/immediateedge/
Binary Options Robot provide to all the traders with all the latest updated signals through which they execute all the trades and make them earn some real time profits in no time. If you are still wondering whether this Binary Options Robot is trusted one or not, for this we have collected some evidence which will prove that this Software is 100% pure legit one. Maximus Profits Review: Legit or Scam? Current world is a place of varieties, innovation, and challenges. Here for getting the best profitable business, you need to go for varieties of options. At the recent time, the traders are getting more and more interested about the binary options trading. It has become one of the most profitable and ... Binary Options is a financial trading options where you have to predict the future asset movements to win a trade. Franco is a professional trader who has been doing trading over many years. Mainly Franco is a creator of this trading signal. The main principle of Franco’s binary options trading signals (BOTS) is that you don’t need to follow trading principles and patterns advise by any ... Click here to review our list of binary options brokers. Traders can trade binary options with as little as $100 and can build up their profits quickly. Some binary options brokers offer a minimum option investment for as little as $10 and offer up to 89% returns on their invested amount (about $8.9). Due to the fixed risk that binary options trading has to offer, the trader is well protected ... 7 Binary Options review: Q Profits System: 4,5 stars. Related content: Ninja Profits System; One Click Profits; Profits Today; Real Profits System; 2 comments . Lorraine Polson • I have been hounded telephonically by this company. As much as I say I am not interested, I am ignored and yesterday, after losing my cool on the phone to an extremely rude character, he then proceeded to call me 16 ... Today I bring you an unbiased review of a trading system that was launched just recently in the market. Live Profits, in the short time of its existence, has already been able to grab the attention of many traders by claiming to possess the ability to generate a $10,000 profit daily on autopilot. An extremely In this guide, we're going to review the best binary option brokers to help you decide which trading platform is right for you. We've analyzed over 21 different binary brokers on a variety of factors including payouts, trading platform, deposit methods, features, regulation, and company reputation. Profits Infinity by Mark Bromovich Review. Profits Infinity is a new binary options system that claims to make traders nearly $4000 per day. The developer is Mark Bromovich and he tells us that they haven’t had a single loss since 2014. A claim of that magnitude is a very difficult to believe. Today I’ll be reviewing this software and informing the binary today traders of how it works and ... Binary Options is a financial instrument to trade worldwide assets with the possibility of a high return on investment. It is like betting on rising or falling markets. There are only 2 options, that is why it is called “binary”. You can win a high return of 75 – 95% in a selected time horizon or you lose the amount of your investment. Do you agree with Binary Profits's TrustScore? Voice your opinion today and hear what 8 customers have already said. Categories My Reviews My Settings Install App Help Log out Log in Sign up Install App For companies Overview Reviews About Binary Profits Reviews 8 • Average . 3.1. binary-pr ofits.co. Visit this website binary-pr ofits.co. Write a review. binary-pr ofits.co. See business ...
How I Finally Became Profitable in Binary Options Trading ...
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