How to join a professional trader hub?

[sle]

It's the Probability of Profit. How likely a strategy is to expire worthless.

PS. PoR = 1 - PoP

 

[Baozi]

Something I found to be a game changer is push your self to learn new skills (even if you don't like that skill). People usually only listen to things they understand. If you don't understand math, programming, accounting etc.., you will find yourself ignoring people/videos/papers that actually might be of much use.

So true, so true.

 

[Jeff Brady]

Hey Guys,
I have done a fair bit of trading but have not really reached my sustainable objective. For me to move to the next level, i should follow some seasoned traders who make consistent money.
Nothing is free lunch so happy to go for paid services or pay a fee to work alongside a mentor.
Can you folk recommend me someone or any reliable service to join?

Read a lot at Tasty Trade, optionalpha, etc... but not sure if they have reliable active trading groups.

Thanks,
Dave

I use Dan Passarelli from MarketTaker and Todd Horwitz. Not a big fan of tasty. Too much personality worship

 

[ironchef]

Tasty Trade and OptionAlpha can be dangerous as they condition you to receive credits and systematically be short vol. You will see people on many forums who believe an Iron Fly is better than a butterfly because you receive a credit. My favourite is when I see TastyTraders comment "Selling premium is like being an insurance company."

Been there done that. To say my results were disappointing is an understatement.

 

[drmark27]

...My favourite is when I see TastyTraders comment "Selling premium is like being an insurance company."

How is it different from being an insurance company?

 

[jonahern]

here is a paradox that determines such people dont' exist.

if one is profitable, he can easily extract more from the market and won't need any 'mentor fees';

if one aks for fees, then he's not profitable.

the same applies to any signal services, educational services, trading system providers etc etc etc.

this statement seems 100% inaccurate

 

[TheBigShort]

How is it different from being an insurance company?

Here's something to think about.

If you sell a put on MSFT and AAPL and the market tanks, do you loose on both positions?

If I die, does that mean you die? If my house blows up, does your house blow up?

What about the premium you collected from MSFT and AAPL puts? Can you invest in land development with those premiums?

 

[sle]

Here's something to think about.

If you sell a put on MSFT and AAPL and the market tanks, do you loose on both positions?

If I die, does that mean you die? If my house blows up, does your house blow up?

What about the premium you collected from MSFT and AAPL puts? Can you invest in land development with those premiums?

All of the above applies, of course. The main reason why selling vol is different from providing insurance is the lack of barriers to entry. It's very hard to open an insurance company but it's pretty easy to open a TastyTrade account.

 

[sle]

here is a paradox that determines such people dont' exist.

There is an important exception to that rule - going to work for someone, i.e. "an apprenticeship". Most people who make money in the market have learned this way and then extended what they learned via their own experience.

 

[waitwhat?]

Check this guy out he streams live day trading futures. Funny chap
https://www.twitch.tv/brokekraken