Karen the Supertrader - TastyTrade Hybrid Experiment

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Sweet Bobby said:
My trading strategy is mine. It is a combination of Tastytrade, Karen, along with my own rules. It is a real account, being traded in real time. Don't think (based on the title of the thread) that is it just tastytrade or just Karen. Most importantly, the account is up on the year while Tom, Tony, Liz, Jenny and Little Bat are down.
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Anyone who is willing to expose his/her own trading approach and real time trading results in an open forum deserves my respect and support.

I do have one question: What benchmark/goal do you use to compare your success/failure? tastytrade hosts'? Karen? DIA, SPY...or do you just consider being net positive a success?

Good luck.
 
Sweet Bobby said:
I'm up 1.85% on the year!

It has been a tough year
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1.85% is bad, o_O

We retail guys have to aim, and achieve, way higher then that...for all of this to be worth our time,

Maybe you should just invest in the SPY S&P 500 -- and do Something else with your time,

It's Risky Business trading style, and likewise high rewards, -- or Nothing at all,

Simple Directional option plays...none of those weird, complex strategies...that essentially gets nowhere, because both sides are constantly canceling each other out,

Hone and refine your trading skill and intuition...know your battlefield,

Sweet and Sour Bobby,...is looking more like just sour bobby,
Call the chef and learn to cook like Heisenberg -- and start Breaking Good,

I have nothing specific, or concrete, to tell you regarding your specific trading style or strategy or mentality or viewpoints,

But don't give up...and you'll See Sunshine After The Rain,
 
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lawrence-lugar said:
1.85% is bad, o_O

We retail guys have to aim, and achieve, way higher then that...for all of this to be worth our time,

Maybe you should just invest in the SPY S&P 500 -- and do Something else with your time,

It's Risky Business trading style, and likewise high rewards, -- or Nothing at all,

Simple Directional option plays...none of those weird, complex strategies...that essentially gets nowhere, because both sides are constantly canceling each other out,

Hone and refine your trading skill and intuition...know your battlefield,

Sweet and Sour Bobby,
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And your returns thus far this year are what??????
 
Totally irrelevant how much you are up this year - assuming it is correct - , what was the max DD in the account MTM - including open unrealised losses - ?
 
Sweet Bobby said:
I'm up 1.85% on the year! It has been a tough year.
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I have to agree with Lawrence, this year making 1.85% in 8 months is bad. The market has been going up steadily without big drops, you should have made 0.8-1% per month.

I know Karen would have... :)
 
Sweet Bobby said:
Let's don't complicate things. Here's my strategy. Sell options between 60 to 30 DTE on ETFs and Indexes. I generally pick the ones with higher volatility. I try to use between 25 - 50% of my buying power. I want to collect .01 to .5%thetadecay per day. Attempt to maintain negative delta at a 2 to 1 ratio to vega. I close trades either at 50% profit; at a loss of 2x the initial credit received; or close the position when it reaches 1/2 of its original DTE, regardless of profit or loss. Simple, simple, simple!
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This is why the low returns/expectancy

100 trades, 80 are winners, some for 50% of credit others for less at the halfway to expiration date.

So, $1.00 credit (doesn't matter what $$) 70 winners @ $.50 and 10 winners for say $.25.
20 are losers, let's say 15 for $2.00 and 5 for $.25.

Leaves a net of $625 for 100 trades, before commissions and you are paying both in and out. 200 commissions X ???

I also thought I read that you sell naked. If that's the case, we haven't figured in your one or two runaway losers that will occur in 100 trades.

This style is so inefficient but I hope you will see that before you blow up.
 
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