Posting Live Trades

Hi Mark,

I wanted to chime in here and mention that like Steve, I've tried to
pieced a few trades together via your tweets.

You've mentioned that
you're not comfortable posting detailed trade info for fear of people
taking it as a recommendation. That said, I know that I would follow
along on paper and learn something even if I wasn't comfortable with
the trade. I learned a LOT from watching Dan Sheridan's webinars because
there's plenty of detail regarding adjustments of calendars and dbl

I think you and Dan have different styles, though I find them
complimentary to be sure. There seems to be a common theme in the blog
comments where readers are asking for more specific examples, and I
really think the intent is to learn rather than get a trade
Keep up the great work!

Regards, Rob


I agree: for most the intent is to learn.

I must mention that I am working on the idea of following a trade from start to finish.  Right now the idea is to publish the entire 'diary' after the trade is closed.  That does provide the opportunity to follow along and review decisions as they were made in real time.

But what it obviously lacks is your ability to consider alternatives.  In real time, you could make any type of adjustment that suited you – hopefully in a paper trading account.  Then you could follow along and see which adjustment, or the timing of an adjustment, works better.  Of course, a better result in a trade or two proves nothing, but it does allow you to have more than your own input when monitoring a trade.

I'm becoming more friendly to this idea.  I doubt I'll begin before April (for reasons that I cannot mention today).  But thanks for the encouragement, and you can look for this feature in the coming months.


9 Responses to Posting Live Trades

  1. Rob 01/05/2010 at 1:51 PM #

    Hi Mark,
    I like the idea! Now, if you were to publish the opening positions of a trade, readers could establish that trade on paper AND make their own adjustments as necessary. After you had closed your trade and published adjustment details in “diary” format, each reader could review the differences/similarities between the trades and learn something. I think it might also invite some interesting discussions via the comments section of the blog. No two traders will have identical results, but seeing what worked and what didn’t would be valuable.
    Just my two cents! Thanks, Rob

  2. Don 01/05/2010 at 2:04 PM #

    Hi Mark,
    Personally I like the idea of seeing you trade in real-time rather than after. I would learn a lot more and it would leave the realm of theory and we could look at what the IV or Delta or Gamma or other factors are displaying upon the trade. I know that you take your teaching very seriously and would be upset if you lost and others were following. But that is teaching whether work, sports or options.
    However, you have often clearly stated the risks involved. Perhaps you would feel comfortable with a disclaimer that specified “LOSS IS POSSIBLE IN ANY AND ALL TRADES” or something of the sort.
    Looking forward to the new developments,

  3. Mark Wolfinger 01/05/2010 at 2:13 PM #

    Thanks for input.
    The point that must be made is that I have lots to do, and although the trade would be posted in real time, I cannot be expected to watch this position as closely as a real position.
    First I haven’t the time and second, with no money on the line (this would be a fictional trade), there would be no financial incentive to monitor the trade, make adjustments, quickly do the write-up.
    Thus, adjustments are more likely to be end of day, when I have more time.
    I’ll do the best I can.

  4. Mark Wolfinger 01/05/2010 at 2:15 PM #

    That’s another good idea and an alternative method for reporting adjustments, if any.
    I’ll bid three cents for those ideas. Keep ’em coming.

  5. Dimitris 01/06/2010 at 10:55 AM #

    I fully understand that publishing a real trade and following it from start to finish might require a lot of time and effort from your side but on the other hand it will be a great teaching tool for all of us, inexperienced “traders”.
    If you decide to do it, it might be worth the effort to choose two trades; one risky and one conservative. This could be the ultimate teaching tool.
    Thank You for the great education you offer to us every single day.

  6. Mark Wolfinger 01/06/2010 at 10:59 AM #

    I’m convinced.
    Thanks for the input.
    I will consider how to do it – but I will be choosing trades with no way to know if they will prove interesting or boring.

  7. Rob 01/06/2010 at 1:35 PM #

    From my limited experience, it’s the boring ones that are profitable!
    Thanks for giving the idea consideration, Mark.

  8. Mark Wolfinger 01/06/2010 at 2:00 PM #

    I get to write the blog, but truly want it to contain stuff you can use and stuff you want to see.
    Sure. For us premium sellers, boring is profitable.
    But when writing the blog posts that describe the trade, thee is nothing to be learned from:
    1) Opened trade
    2) Closed trade. Profit is X.
    From that perspective, and from the perspective that no one should be making those trades, I hope they are not boring.

  9. Rob 01/06/2010 at 3:17 PM #

    I totally understand what you mean with respect to a “boring” trade not being a great teaching tool. I haven’t been doing this for long, but in some of my earlier trades I lamented the fact that I wasn’t learning much because my trades were profitable and didn’t need adjustments. I did get to practice not being greedy, and my only adjustment was closing at a good time. December was tougher, and I was shaken out of a few trades in spite of what seemed to be good adjustments. In that respect I got to practice adjustments, risk management and taking losses. I managed to prevent losses from being bigger than my average winners, so I’m pretty happy about that. I learn a lot here, and you’ve provided a lot of good ideas related to risk management!
    Thanks, Rob