Thanks for the reply. In my opinion, your loyalty is misplaced. Its like someone saying they owe so much gratitude to a porn star they saw in the very first porn video they watched because it is she who got them hooked on sex! But if you want to give her so much credit, that is a personal choice I guess. Its good if all she did was inspire you because it sounds like if you followed her succinctly, you would be up shit creek. Is it safe to say that if you weren't buying downside protection then you would be in trouble? Is it also safe to say that your core strategy cannot be just collecting premium because how else would you have gotten such great gains like 70% last month I think it was? I think the reason why everyone was so hard on you was because you aren't an insurance company and any individual trader trying to make a decent living just selling insurance is a blowup waiting to happen. Once you change your strategy from simply collecting premium, you're no longer now doing what Karen or Tasty Trade promote. Half of the reason for the trolling now goes out the window. I also personally found your behavior to be highly suspect because you didn't talk like a trader who was doing well. Your goal seemed to be more to protect Karen than to make money. If you had a fabulous month, why go on such a rampage here? The lady after all just inspired you to learn about trading, and it was you who saw the holes in her strategy and plugged them. Once again though, if you're buying protection, you're not really just a premium collector now. It would be interesting to see your breakdowns from your premium profits vs. all your hedges. Still though, the rampage you were on is more indicative of someone losing money than someone making money. I think the conclusion seems to be that Karen has nothing to do with your strategy (aside from being just your inspiration), and your strategy isn't really just about collecting premium, but being heavily protected. I don't know enough about options, but obviously if collecting premium while buying insurance was so profitable, then everyone would be doing it. There must therefore be lots more going on here. But my point is that if you started with just these two facts, much of the trolling in your journal could have been avoided.
Who is Karen? Why is Sweet Bobby protecting Karen? It's getting weird around here. I'm really confused.
I thought you would be! Start here with the link in this post, and then there are further links in the thread. https://www.elitetrader.com/et/thre...-clients-suing-her.327468/page-2#post-4767481
OP. How many cars will you be trading for your experiment here? Are you posting trade prices/times, or just PNL and account balances?
That’s what all the books say, but not how it really works, when you have skin in the game. Finding positive expectancy and maintaining it, are worlds apart. I’d have to start a journal here to explain why
Nah, yer missing a bit earlier history... https://www.elitetrader.com/et/threads/karen-the-supertrader.254837/ https://www.elitetrader.com/et/threads/schadenfreude-warning-karen-the-supertrader.300275/ https://www.elitetrader.com/et/threads/karen-the-supertrader-tastytrade-hybrid-experiment.300013/ Lots of reading for the weekend, @Palindrome Enjoy!
Cars? I actually am not really planning on posting specific trades maybe a couple here and there. I'm only correct maybe 65% of the time, and my risk management is a bit complex and it would be time consuming posting all trades as I am pretty active. I do plan on posting weekly and monthly results though. Anyone else is welcome to post results too, it would be great to see some "Real Traders" post "Real Results" as I am starting to realize many of the traders on ET are not as big as you think and very few are consistent. Perhaps this is obvious. It would be cool to get a feel for who are the real traders and who is very skilled at this difficult game.
I think that's what people ever got about my Karen/Tastytrade hybrid thread - It was a hybrid of strategies and did not entirely depend on what Karen did. I still firmly believe that premium selling is a very profitable endeavor. It is also extremely dangerous if you don't know what you're doing. I am able to sell premium and hedge while doing it all for consistent profits. It's not magic and I can and do lose money at times. However, there is no chance that my account will blow up. The blow up seems to be the focus of many a troll here on ET. I have never said that I blindly followed Karen's strategy. I just took her strategy and improved upon it. Peace!
Why do you assume I was raising the bar? Myself I strive to trade correctly according to my plan, but neither by a percentage or dollar amount. That is up to the markets.
You and I have somewhat similar strategies in this trading business, except that I only focus on trading one instrument. Instead of using the term 'location', I call it either 'in the zone' or 'in my backyard'. I prefer to use 'in my backyard' more because I know very well the structure and stuff that are in my backyard. When market enters my backyard, I know game is on and what I should do to catch it. Once market jumps out of my backyard, I consider game is over and hence, risk is on and I must get rid of everything. In response to your thread, I attached a screenshot to show you my trading summary for last month in comparison to your. Out of 65 trades, there were 5 losing trades with an average of 0.10%. Some of these losing trades were profitable at first and then became a losing trade when market jumped outside of my backyard which I had to cut lost immediately. If you need further discussion, you can pm me if you like. Otherwise, I don't pm anyone for anything as I'm happy with mine.