Road to 120% - 2019....if anyone even cares

Sweet Bobby said:
I trade because of Karen. She is solely responsible for getting me into the business. I tested her strategy for years and I was never comfortable with the risk. I searched for answers as I really wanted to be successful in options trading.

I’m the end, I was able to combine the best of what Karen was doing while hedging my risk. This allowed me to sell premium, but doing it in a much safer fashion.

My original Karen/Tastytrade thread became an attack piece by everyone telling me how I was going to blow up my account. These attacks were from people who had zero idea about what I was doing!

As for me defending Karen, I do so only because I appreciate the fact that she got me engaged in selling premium. I don’t have any idea whether her collection of fees was fraudulent. She may very well be the anti Christ for all I know. But I am where I am because of her videos. It led me to countless hours of research and discovery.

My strategy is not a holy grail. I can lose money on any particular trade. But in the long run,I am consistently profitable by combining Karen’s strategy with some very simple downside protection.

I am NOT trading Karen’s strategy. It has become my own. I don’t understand the hateful comments that others toss my way because I won’t join in the condemnation of Karen. I don’t have a dog in that fight.

I’m still a hard working guy trying to figure out how to be a better trader and I wish you and all the others the best. But I do hope others will stop the “tour account is going to blow up” rhetoric because it’s nit going to happen. In fact, I want a crash to happen because then my returns will be meteoric!

I was very open about my strategy from the very beginning, but after constant attacks on here I became more closed off regarding the details. I’m not trying to hide anything, but I’m certainly not comfortable with sharing details of my successful strategy with people whose only motive is to bash me and wish me harm.

Perhaps I will share more if the discussions return to some level of civility.

Peace!
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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! :D 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.
 
OP. How many cars will you be trading for your experiment here? Are you posting trade prices/times, or just PNL and account balances?
 
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bitstream_ryder said:
What is of concern is that you say "It still is by far no easy feat to accomplish" If you've already done 200-300 trades, you should be going about your business like a production operator with little or no emotion
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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 :)
 
 
digitalnomad said:
OP. How many cars will you be trading for your experiment here? Are you posting trade prices/times, or just PNL and account balances?
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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.
 
Gotcha said:
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! :D 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.
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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!
 
Palindrome said:
I trade like Monroe Trout in Market wizards, I believe my method complements what he did to a degree. My sauce is based on this logic I wrote recently. To some it might sound crazy, but it's from this base I have been able to develop 5 different futures systems across many time frames that model movements in price with good enough statistical outcomes to turn a profit that is worth the time to execute... laugh all you want...I'm just a 4 function calculator quant with basic education and average intelligence :)
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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.
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