Round Table with Dave Thomas

Discussion in 'Round Table Presentations' started by status1, Dec 9, 2017.

  1. status1

    status1 Well-Known Member

    What happened with the round table with Dave Thomas that was scheduled for Wednesday Dec 6 ?
    Was it moved somewhere else or just postponed ?
    I did not see it in the library
  2. Trader G

    Trader G Well-Known Member

    I think Tom mentioned that he was sick so it was being rescheduled.
  3. Tim

    Tim Well-Known Member

    Dave T and I were going to have a Q&A about our trading and comparison of styles. But I lost my voce and so we cancelled. I am slowly getting it back, we will reschedule this soon.
  4. tom

    tom Administrator Staff Member

  5. Marcas

    Marcas Well-Known Member

    Public, side by side trade comparison done by experts.
    I just hope for future continuation of this idea
    - my vote is for M3 vs Kevlar.
  6. Trader G

    Trader G Well-Known Member

    Thanks to Dave and Tim for the round table yesterday. I pretty much stick with SPX and RUT too and I guess the question for the forum is, what happens if 2018 is the same as 2017? With that I mean low vol, grind up, limited pullbacks, steep skew, etc. How will you guys adapt your trading? I have been simply adding in put credit spreads to my portfolio but I would be curious what others are thinking for 2018 if things stay the same.
  7. status1

    status1 Well-Known Member

    I only traded SPX this entire year It started out somewhat rough but after adjusting my trades from about the middle of the year I had mostly winners 22W 2L compared to 7L 4W in the first 5 months As long as it stays this way I am fine with it since I got adapted to it I just hope it doesn't go through too many changes and I think it will be that way for the most part as traders buy the dip with some exceptions I am sure
    Some analysts are predicting the SPX to go up to 3000 which if it goes at the same rate as this year I am sure it will get there but they are also predicting some bumps in the road so I have to watch out for those Hopefully it will be just a quick dip and than continue going up
    I am doing some BW condors OTM which eats up a lot of margin but I have credit on the upside so I don't have to adjust it as it goes up I am just planing for 2% on margin per month so if I reach that I can close that trade and move to the next one
    I am also getting out of all my trades by the end of Dec for tax reasons than in January I will try to get back in cautiously and see how the market behaves before going all in
    Trader G likes this.
  8. Ice101781

    Ice101781 Guest

    Only 5 more sessions left in 2017...
  9. Kevin Lee

    Kevin Lee Well-Known Member

    Every year the market serves up a different environment. 2017 has certainly been a unique environment in its own way as far as I can remember - an up-grinding market with exceptionally low IV and zero large pull back. Over the past 10 years that I've traded income options, this is the lowest IV environment. What will come next year? No one will know. I've heard "experts" saying why the market couldn't go up any more since 2014. 2016 was the year the expert market forecasters were so confident market would crash because it was the seventh year since the recovery. Didn't crash. So 2017 must be the year. Nope.

    My take away is we as options traders should just trade options and stop looking at charts. We should focus on adapting to market changes instead. I went from watching over a dozen charts and market internals to zero chart, zero market indicators and no more cnbc. My performance improved !

    Enjoy your holidays everyone. Merry X'mas !

    David C., Wolfgang, Chaitanya and 2 others like this.
  10. Marcas

    Marcas Well-Known Member

    This is my way as well. I liked indicators and all that stuff in the past but now I use them rarely and more on recreation side than anything else. Quick look at chart is enough. I don't discard TA completely, I see it as decision making aid that can be taken up to point of going 100% mechanical. Not my way anymore. Prolongated elaborations on TA seem boring and I usually skip them. I don't say everybody to do the same but understanding your trade is much more important than understanding indicators. You can prepare adjustments based on TA but action is taken based on tape action (most of the time :)) .

    Merry Christmas to all.
  11. Tim

    Tim Well-Known Member

    I second and third what Marcas and Kevin are saying here about TA. I don't do any technical analysis or charts (except for getting a statistical edge with my cash secured puts and covered calls, which are a very low percentage of my trading), and just trade the market I get. My performance improved as well.
  12. Bryan Doyle

    Bryan Doyle Well-Known Member

  13. status1

    status1 Well-Known Member

    I like this part
    "Long uptrends like this rarely reverse abruptly. They weaken first. In the last 38 years, every correction larger than 15% was preceded by a loss of momentum, as seen by the index first suffering a 5% correction and then retesting its prior high. The sawtooth pattern seen at tops is typically accompanied by a rise in volatility. This should be an early indication that the uptrend may be ending."

    and that's what I am looking for
    PK likes this.

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