Karen the Supertrader - TastyTrade Hybrid Experiment

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

  1. What is the strategy?
     
    #981     Nov 24, 2016
  2. newwurldmn

    newwurldmn

    So it turns out that Bobby's performance was all a lie (whether he intentionally knew it or not).

    What's the lesson here for everyone else (since I am on ignore with him)?
    If your pnl doesn't approximate what you think it should given how the market is performing, you should investigate why. I asked him how he made money in September when the market was down 2% and vols were bid. He threatened to beat me up instead of understanding that a small short delta wouldn't offset losses in short gamma and short vega. If he had studied it he might have learned something.

    All (good) vol traders do this analysis and anyone who wants to trade volatility should be able to get to a level where they can intuitively understand if their book is performing the way it should.
     
    #982     Nov 28, 2016
    i960 likes this.
  3. algofy

    algofy

    I like this. lol
     
    #983     Nov 28, 2016
  4. Not a lie at all. You just don't get it. The strategy has performed very well. Sure there have been a few bad fills, but I have reported everything as it happened.

    Happy trading!

    Bobby
     
    #984     Nov 28, 2016
  5. I just told him to meet me behind the Piggly Wiggly!
     
    #985     Nov 28, 2016
  6. algofy

    algofy

    even better :fistbump:
     
    #986     Nov 28, 2016
  7. newwurldmn

    newwurldmn

    Oh. I'm not on ignore.

    I suspect most of your fills are unrealistic.

    Well your second to last trade: you sold on 11/18 at 10.5 and bought it back the same day at 3.5ish. There were 4 moments after 10.5 was a realistic fill where the bid disappeared and a $2.5 bid was shown and you got magically filled. So you made like $7/share roundtripping the same contract on the same day while the SPX stayed in like a 5 point range.

    But maybe I don't get it.
     
    #987     Nov 28, 2016
  8. You're right. The strategy doesn't work. Out of curiosity, why would you even be following this thread? It seems like a waste of resources for an enlightened soul like you.
     
    #988     Nov 28, 2016
  9. newwurldmn

    newwurldmn

    Because
    1. I do believe short vol strategies do work if you know how to price vol properly
    2. You seemed to be doing this journal with integrity and genuinely interested in learning
    3. I like to help people with their options understanding.

    I was defending you until you dismissed my question that September and started getting smug.

    And the crack addiction that is elitetrader is probably a waste of resources for me and many others - but that's how addictions work.
     
    #989     Nov 28, 2016
    i960, d08 and kinggyppo like this.
  10. You called me a liar. I have been open about everything. I post every trade and have lied about nothing.
     
    #990     Nov 28, 2016