Most markets are correlated anyway. Oil has been dropping for 6 days too. I remember 2 years or so ago when they were ridiculously correlated, there was no difference if you traded oil or the stock markets.
Karen the Supertrader - TastyTrade Hybrid Experiment
- Thread starter Sweet Bobby
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Most markets are correlated anyway. Oil has been dropping for 6 days too. I remember 2 years or so ago when they were ridiculously correlated, there was no difference if you traded oil or the stock markets.
I know when to get out according to my rules. I’ve gotten better on money management.
That sounds all well and swell and dandy,
but what does that translate to in real world market trading performance,
How many orders of Sweet and Sour beef/chicken/pork...can you order...out of the profits you made this week trading?
TastyTrade 2018 in full effect,
Even if I told you, you wouldn't believe me...how much % (or points) I made this week paper trading.
This is a beautiful shock market.
On one day alone, I could buy a used 1999 Porsche 911 that has 100,000 miles on it...for $11,000 out of my profits for that day.
And also a used, high-end laptop on eBay....if all of this continues, I'll be able to move out of my parent's house by the end of the year.
If I had my own place, I'd be so happy and flirtatious and confident with women.
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I thought you died! We missed you on Twitter! You should have been there you would have learned a thing or two!That sounds all well and swell and dandy,
but what does that translate to in real world market trading performance,
The account is down 10%, but most of that is non-realized. I still expect to profit on the opening trades. Ain’t nothing but a thing! Y’all keep hoping I blow up! Poor Tony Caine and LJM Partners. I could have shown them a thing or two! Volatility, welcome back! Sweet Bobby is flying high!
A truer Tastytrader there will never be.
Well, we’ll, we’ll! LJM goes bust and Sweet Bobby is still thriving! I’m successful because of my discipline and mechanics. I don’t care if the market goes up, down, or sideways. I trade the market where it is without fear or greed. Am I cocky? Yes I am, but my discipline far exceeds my ego. The account was up 7.7% this week and is recovering according to plan. So I’m down a little under 3% for the year. If the market tanks 1,000 points I’m ok! I know what my trades are for next week already. Four trading days equals four opening trades.
I do all my trading from my office during my lunch break from my iPhone. While some wast their lives staring at screens all day waiting for the perfect setup, I make my trade based on probabilities alone. I pity those who study technicals and subscribe to super magic trade alerts. It has taken me seven years and countless hours of study to develop my 17 page trading strategy. You can call Karen the Supertrader a fraud all you like. You can trash and bash Sosnoff and Tastytrade. You think it hurts me? Not at all. You can criticize me and wish for my ultimate blowup. You think a 1,000 point drop in the market has made me overconfident? You think I’m going to get complacent and increase my position size? No you crazy fool! I have rules and these rules have proven themselves to work in volatile markets. You can bash me for working on my PhD. I owe Karen and Sosnoff everything! They didn’t teach me how to trade. They got me engaged in the trading process and I am grateful! Some of you still think I trade like Karen. You are wrong. I studied Karen for years and improved upon her strategy. At this point, what I do isn’t even close to why she does. You think I recklessly throw out trades like Sosnoff? Ha! Not at all. The prudent person would pore over this entire thread and search for the nuggets of wisdom I have acquired throughout the years. I made money in 2017. Sosnoff lost money. Lots of fools made money in 2017 and everyone thinks they’re a genius.
In conclusion, I trade probabilities and I think in probabilities. My next trade may be either a winner or a loser. I have no expectations. But over a series of trades, I will have in excess of 90% profitable trades! It’s just math you idiot! The losers can be doozies though. I know where I’m getting out of a losing trade and I never get too big to let any one trade take me down. I stress my account down for a 20% drop in the market and adjust upward for volatility. I k ow where my account will be if the market crashes. Finally, I trade with total confidence. It’s a great feeling and I hope you all find confidence I. Your trading! Happy Trading!
I do all my trading from my office during my lunch break from my iPhone. While some wast their lives staring at screens all day waiting for the perfect setup, I make my trade based on probabilities alone. I pity those who study technicals and subscribe to super magic trade alerts. It has taken me seven years and countless hours of study to develop my 17 page trading strategy. You can call Karen the Supertrader a fraud all you like. You can trash and bash Sosnoff and Tastytrade. You think it hurts me? Not at all. You can criticize me and wish for my ultimate blowup. You think a 1,000 point drop in the market has made me overconfident? You think I’m going to get complacent and increase my position size? No you crazy fool! I have rules and these rules have proven themselves to work in volatile markets. You can bash me for working on my PhD. I owe Karen and Sosnoff everything! They didn’t teach me how to trade. They got me engaged in the trading process and I am grateful! Some of you still think I trade like Karen. You are wrong. I studied Karen for years and improved upon her strategy. At this point, what I do isn’t even close to why she does. You think I recklessly throw out trades like Sosnoff? Ha! Not at all. The prudent person would pore over this entire thread and search for the nuggets of wisdom I have acquired throughout the years. I made money in 2017. Sosnoff lost money. Lots of fools made money in 2017 and everyone thinks they’re a genius.
In conclusion, I trade probabilities and I think in probabilities. My next trade may be either a winner or a loser. I have no expectations. But over a series of trades, I will have in excess of 90% profitable trades! It’s just math you idiot! The losers can be doozies though. I know where I’m getting out of a losing trade and I never get too big to let any one trade take me down. I stress my account down for a 20% drop in the market and adjust upward for volatility. I k ow where my account will be if the market crashes. Finally, I trade with total confidence. It’s a great feeling and I hope you all find confidence I. Your trading! Happy Trading!
Bobby, not trying to be critical, just asking a question. The S&P 500 is up 2.3% on the year. You are down about 3%. Last year you were up about 10% but the S&P 500 was up 20%. Wouldn't you just be better off investing in the S&P 500 and using your time towards something else?
Let me offer one other point. You are booking short term ordinary income. Even with futures it's 60/40. Meaning in order for you to beat the S&P 500, you have to outperform the market by at least 500 basis points since buying and holding will generate no taxable events. So even if you were matching the markets returns (which you are not), you still would need an extra 500 points in out performance just to break even. I'm not trying to be critical, just curious what the big picture is here.
Great points Maverick. I respect your questions. I think we all have our “ahah” moments. Mine came to me at the end of January and first of February 2018. I actually got to see my account performance during a period of chaos! Before this I was scared and timid. My returns from 2017 were good, but I wasn’t in any trade for the last 3 months of 2017 because I feared the big market drop.
Then in January something changed my life and approach to trading. I was exposed to the teaching of Mark Douglas! Boom! I got it. I know what I’m doing has a high probability of success. I now need to think in those probabilities. This was the aha moment I needed. It may seem silly . It did to me. Before I considered trade psychology to be shit. Sosnoff thinks it’s crap and I didn’t think it was necessary. Before now, I wasn’t willing to commit significantly more capital to my strategy. Now I’ve added 50k more capital to my account. I am an evolving trader and I expect to be better tomorrow than I am today.
As for returns, I know my theta target. I know how much theta I should reasonably expect to keep. Based on my current theta and risk in my portfolio, I’m targeting an annual return of 48.36%. Now my theta will fluctuate, so that target may be exaggerated but I know what the probabilities are based on my account Greeks. My next trade may lose, but over a series of trades the odds are significantly in my favor.
It has taken you seven years and 17 pages of diahrrea to eke out a 3% loss in the market?
You have 90% profitable trades but you have over a 3% loss (this is after being up7% for the week).
You cannot beat a buy and hold that is up 2% this year to date? A monkey who bought an index fund is beating you with 30 seconds of study and not more than 1 sentence of a page..
You are proud of this?
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