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Sept 28 2016 Dave Aquino - 11-Hour Options Strategy

Discussion in 'Round Table Presentations' started by Jay Hattler, Oct 4, 2016.

  1. Jay Hattler

    Jay Hattler Well-Known Member

    I am looking for some feedback from our more experienced members on this Roundtable presentation. Having listened to, and benefited from, so many Roundtables, this was the first time I wanted to say "Sounds too good to be real." 95% percent win rate, and still eeks out a profit on four of the five losers by buying options in the other direction, etc.

    Perhaps the presenter is simply great at entry points. But making 4-6% on each trade, doing this with GOOG, TSLA, AMZN and now three times a week with SPX. Again, sounds too good to be real. Otherwise, it would be foolish not to join his trading room.

    So, I am mystified and would like (constructive) feedback on what the presenter may be doing or not doing.
     
  2. Meathead

    Meathead Active Member

    I was wondering the same. Did anyone shell out $50 for the video? If so, any valuable nuggets in there?
     
  3. status1

    status1 Well-Known Member

    I would say it's doable but I imagine it's a lot more work than a bwb trade so you are risking $1000 to make $50 minus commissions so roughly $200 a month You could make the same more or less with a 30 day BWB trade and only look at the trade at the end of the day I am referring to the indexes with the BWB

    With the 11 hour strategy I imagine you have to be more directional or watch the stock price so it does not move too much against you and be prepared to adjust quickly since you don't have a lot of time to expiration
    You have to be more familiar with the stock and the technical levels and also be aware of any earnings announcements
    or any stock specific news
    There are day traders and scalpers out there that make a living doing that but that is not something I want to try myself
    I will stick to the BWB trades that are working for me so far this year slow and steady and I don't have to scramble every week to find another trade
    It's fine if you can do it by yourself but if you have to pay someone every month for the alerts that will eat into your profits even more
    I am sure if you try it it will work for a while until you take a big loss if you don't adjust in time
     
  4. Tony Moore

    Tony Moore Member

    In my humble opinion this is a recepy for giving your broker,your "Guru",the market makers,etc etc money with you taking a very bad risk reward bet.
    The only "appealing"quality is LEVERAGE,but as you know you will have it with any options or Futures strategy.
    If you belive (I don't) they have an hedge using some "special market timing tools " try to use it on futures Like(ES) at least you can avoid brutal gaps and single
    stock 's risk.
     
  5. DavidF

    DavidF Well-Known Member

    I followed the first 11hr trade last Thursday, listening to live webinar, SPX was about 2168 and they sold 20 x 2145/2140 SPX put spread. Discussed various technical stuff like Fibonacci etc.

    Literally within minutes of the trade being placed the SPX fell after the Deutsche bank issue flared up and was hitting the short strike. The commentary on the live feed after the dip was a combination of surprise as no ostensbile reason for spike down and discussing playing a bounce (which never happened that day). As the SPX continued to fall they started to look for reasons, none were apparent.

    My take:-it was extremely unfortunate timing to place the trade and this is the obvious achilles heel. However if your position is not oversized and you´re set up ready to defend with calls and puts then it´s mostly manageable, barring gap downs. Premium is small so you can´t afford to max loss these and you shouldn´t if you defend qucikly enough. Not sure how they fared a few Fridays back (9th Sep I think).

    It demands your full attention from placement to expiry, which they readily admit, i.e, it´s a job.

    It´s not something I´d trade (don´t like relying on technical levels after seeing how easily they´re sliced through in both directions and is too intensive) but I can imagine it would be an appealing and profitable way of trading once you´re proficient
     
    Last edited: Oct 5, 2016
    Jay Hattler, Paul Demers and Meathead like this.
  6. NH Flyer

    NH Flyer New Member

    So I signed up for the 11 hour options (aka www.basecamptrading.com) $7 trial. After using it I think this service is too risky. While you can make money on most trades, the occasional blow out will wipe out your gains - unless you manage the trade. Now Dave Aquino does manage the trade, but it's pseudo real time, that is, you get an email about an adjustment, but in practice the adjustment is hard to do since by the time you get it prices are different. Plus if you have a day job forget it.

    On another note, I have tried to cancel the service since last Friday. It is notoriously difficult to cancel. If you read their TOS, in order to cancel you need to email them at their support address, and they do not consider you cancelled until you get an email reply from them confirming cancellation. Well I have yet to receive a confirmation back after and it is now Wednesday of the next week. So unless I get their email reply, according to their TOS they have the right to charge me $149 upon the monthly renewal, and oh by the way there are NO REFUNDS under any circumstances. Crazy one sided TOS. Hmmmmmmmmmmmm............ SoI did also go to their website and filled out the contact us form to cancel, and they did reply just now, asking me to reconsider. So maybe I can finally get rid of them, although technically this is not what their TOS says to do.

    In addition, I did some research and this website/service used to be called ValueCharts. They changed their name back in March 2016 when they registered the domain basecamptrading.com. You can still see their old website at www.valuecharts.com. Hmmm...why did they change their name? Well it could be horrible negative feedback, so they rebranded. See https://tradingschools.org/reviews/value-charts/ but especially check out the comments at the bottom of the page. Probably some of the worst reviews I have ever seen on an options service, wow. I have found this is typical of this industry, that when a trader or service gets in trouble, they rebrand. RED FLAG folks.

    Bottom line something smells here, including their very difficult cancellation process. I suggest everyone STAY AWAY.

    On another note, I did sign up with Theotrade about a month ago when Capital Discussions did a webinar with them and they are GREAT. I really like those guys, and the service.
     
  7. AKJ

    AKJ Well-Known Member

    Without offering any opinions on Dave Aquino's presentation or any others, I do find that there are a select few services that are high quality and high value to subscribers, and it is a good personal exercise to try to find weaknesses in the trading strategies that are presented at the RoundTables. Understanding the weaknesses of other people's strategies helps me re-examine the weaknesses of my own strategies.
     
  8. DavidF

    DavidF Well-Known Member

    I just backtested Fri Sep 9th, 20 x 2165/2160 for 32c sold at 1700hrs on the Thursday. Looked ok at close of trading, but at open on Fri morning it was down $2500 and by 1600hrs was down $4000 ($7000 down at 1700hrs and max loss later).

    You could have started defending it at open and avoided max loss (and risk whipsaw), but with a gap down don´t think any degree of trading proficiency can help avoid a loss that sets you back weeks/months.

    In combo with what I saw last Thursday I wouldn´t touch it. Add in the spreads on PCLN, TSLA etc it would, for me, be like spending Friday herding rabid stray cats with serious financial consequences should I fail.
     
    Last edited: Oct 6, 2016
  9. Trader G

    Trader G Well-Known Member

    Although I have never herded rabid stray cats I have to say I know exactly what you mean. Awesome analogy!
     
  10. garyw

    garyw Well-Known Member

    Thanks to all for posting on this service.
    My experience is: if information is presented is all good, it is never worth my time/effort to look further. (I'm a republican but can no longer stomach FOX news)
    However, it the information is a bit "gut wrenching", there is likely some truth being presented that may warrant further investigation.
    Nice to get confirmation without having to invest the energy.
     

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