Karen the Supertrader - TastyTrade Hybrid Experiment

Discussion in 'Journals' started by Sweet Bobby, May 18, 2016.

  1. Maverick74

    Maverick74

    Since April 5th:

    Sweet Bobby: 2.6%
    SPX: 2.6%

    Correlation? You make the call.

    These numbers are gross. Take commissions and taxes out for Sweet Bobby and he is underperforming.
     
    #391     Jul 6, 2016
  2. F_488

    F_488

    Maverick its clear to see that Bobby loves Trading Options and selling premium. Okay his current strategy isn't beating the SPX, so what option strategies do u recommend?
     
    #392     Jul 6, 2016
    Sweet Bobby likes this.
  3. Maverick74

    Maverick74

    None. No strategy alone is going to make or lose money. A strategy is just a vehicle. You still need to know where you are going to get there. I know most don't want to hear this, but I am telling you the truth regardless.
     
    #393     Jul 6, 2016
  4. Amalgam

    Amalgam

    It's all about execution. Trade better than the next guy and you take his money. Otherwise just load up on beta.
     
    #394     Jul 6, 2016
  5. Maverick74

    Maverick74

    Yes but he/she needs to know "what" they are trading.
     
    #395     Jul 6, 2016
  6. It's a little early to put this strategy in the grave. I am tweaking as I go and I want to give the experiment at least a year to develop.

    I'm sure many hedge fund managers would like to have my performance over the last 3 months.

    If this doesn't work, I will be the first to let you know.

    Bobby
     
    #396     Jul 6, 2016
  7. The experiment was up $279 for the day and reached its all-time highs since inception.

    One opening trade today:

    upload_2016-7-7_16-57-25.png

    Here's a look at the Greeks:

    upload_2016-7-7_16-56-56.png upload_2016-7-7_16-56-56.png upload_2016-7-7_16-57-25.png

    Happy trading!

    Bobby
     
    #397     Jul 7, 2016
  8. F_488

    F_488

    Maverick so are you saying you not only need to know your strategies + (knowing what strategies to trade under certain market conditions) but you also need to have a traders mindset.
     
    #398     Jul 7, 2016
  9. Maverick74

    Maverick74

    You need to understand all possible options (no pun intended), the nuances of all the possible strategies to optimize those options, the optimal pricing of the given strategy and all possible paths the underlying might take. In laymen terms (maybe), to build your house you need to scout the best location, source the cheapest materials, get the best labor cost, at the best financing rate and you better be sure as heck on your timing. So that is the house analogy, move that over to options and you are there.
     
    #399     Jul 7, 2016
    F_488 likes this.
  10. ironchef

    ironchef

    No wonder us small retail guys/gals do not stand a chance in this game, just like I am not capable of building my own house.
     
    #400     Jul 8, 2016