This guy is contradicting himself a bit here. He's trying to sell his image to the same suckers who follow these "fake gurus". Anybody who follows someone else obviously isn't a real trader and doesn't know how to trade, or is a beginner in the learning stages. But any real-trader follows their own plan/stategy/method. I feel like Tim Sykes birthed a lot of these fake traders out there selling the "travel and trade" dream service.
Yeah and he (David Jaffee) hasn't shown an account update since the coronavirus panic set in. From what I've seen, he's not a sophisticated options seller who does "black swan hedges" or anything, so I'm thinking he's deep in the red right now...though he won't admit it. The "travel and trade" guy doesn't sell any kind of service...he apparently goes around the world playing blackjack/poker tournaments (I forget which) and trading...I don't know how his account is holding up but he has no financial gain from showing his performance AFAIK. And his approach is a lot more sophisticated.
That site is now closed..not sure why. You may be able to access via Internet time machine or something.
I got out with a 10% drawdown. My rules are, "if the market even smells funny, I'll take profits and close positions". One position was a leg in of 3 short puts, closed with a 1X loss - the cost of doing business. I'm waiting for the market to settle (close above the 50 day MA and starting to turn up) before getting back in. Funny thing is my biggest loser wasn't my short puts, it was a new strategy I was fooling around with. If I wasn't in that new strategy, my drawdown would only be 5%
I see. It seems like everyone in that group has their own twists and variations. Doesn't Bertino teach a basic income trade with black swan hedges? Is there a reason people don't follow it? Not profitable enough?
I had the hedge on and it cushioned the loss, also I closed it too early. My crystal ball wasn't working when I closed the position, it would have made more money if left open. The big loser was supposed to be self hedged as well, but it didn't work as well as I thought it would. Long story short that loser was adjusted earlier and the structure was probably changed too much. It's just part of life as a trader. Ron teaches everything you say, but he also wants you to make the trades your own - learning to fish