Traders Expo Day 1 Review from my NYC Contact

(Last Updated On: February 22, 2014)

Traders Expo Day 1 Review from my NYC Contact

1) Spoke with John Bollinger about Bollinger Bands which may help to create a partial trade setup by using the patterns and statistics around %B (position within the bands) and %bandwidth (may tell when a new trend is starting) . John wouldn’t reveal the type of statistics he looks at except spearman’s rho correlation. He spoke quite a bit about W bottoms where the price makes an absolute low, but not a relative low in relation to the BBANDs (price is still within the bands). This is a reversal setup that needs to be statistically tested in order to determine the accuracy level.

2) Spoke with Tom Sosnoff about Karen the super trader and her method. I asked if he tried to paper trade her method and if his data science team tried to backtest her trading method. His answers were no and no. He believes that Karen did NOT reveal everything that she is doing to manage her trades. She is selling about 500 SPX Puts (95% OTM, 56 DTE) and Calls (90% OTM, 10 DTE) every month. Tom thinks this strategy can blow up like LTCM did. The Strategy also violates Nassim Talebs’s rule about selling too many naked options. I think her team most likely uses very aggressive daily management of the positions to shave off delta using SPX options and Futures as needed. Turning 100K into 24 million in 4 years is quite a feat, but the real trick is to consistently continue to make large profits without blowing up.

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