Professional trader Chris Gregson discusses option trading strategies, risk management, transition to full-time trading, efficiency in SPY and SPX trading, experiences with losses and compensation, and the importance of resilience in trading.
Transitioning from overtrading SPY to SPX for better efficiency in trading options.
Importance of understanding fees and market movements in decision-making for maximizing trading efficiency.
Deep dives
The Evolution of a Trader's Journey
Starting with trading options on Apple, the trader recounts their decade-long journey from being a mortgage guy to discovering trading strategies. Learning from successes and failures, including a blown account due to overtrading, the trader transitioned from SPY to SPX for more efficient trading.
Lessons Learned and Strategies Evolved
The trader emphasizes sticking to the trading plan, learning from mistakes, and not depending on automated stops due to personal market awareness. They share experiences of significant losses and the importance of resilience and adapting strategies to market conditions.
Risk Management and Skill Development
Discussing the impact of commissions on large trades, the trader delves into the decision-making process behind choosing between SPY and SPX. They highlight the importance of understanding fees, market movements, and evolving trading strategies for maximum efficiency.
Drive Towards Growth and Future Plans
Reflecting on accomplishments and setbacks, the trader plans to create a fund and expand trading strategies. Emphasizing the uniqueness of every trader's journey, they share insights on consistency, adapting to changing markets, and the essence of continuous learning and improvement.
-Visit the TastyTrade Options group at https://www.facebook.com/groups/1930565613719977
The Trade Busters provides actionable ideas to take your option trading to the next level. Through our educational podcast and YouTube channel, we aim to empower the everyday retail trader. Discover unique ways of thinking through sizing, risk and leverage in your option strategies.
-View strategy mechanics, tradelogs and more at the trading page.
-Follow me on Twitter @TheTradeBuster
-The Trade Busters Discord server is now live! Send me an email if you would like to join.
**Everything discussed on this podcast is for informational purposes only and not to be construed as financial advice.
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