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We’ve all been there… researching options strategies and unable to find the answers we’re looking for. SteadyOptions has your solution.

Kim

Mentoring Program

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We are pleased to introduce a mentoring program where experienced members will help newer members to get up to speed. The mentors will provide guidance and answer questions on the forum. This program will provide new members with more diversity, more opinions, and let older members to contribute from their experience.

Traders who have been SteadyOptions members for considerable period of time, have a good understanding of options and the strategies we use, and are willing to help, are good candidates to become mentors. Potential candidates would need to build some history of contributing on the forums and responding to members questions.
 

We currently have the following members as mentors, and will be looking to add more in the following weeks and months:


Mentors will have "Mentor" title and brown color.

Please note that this is NOT one on one mentoring. I encourage members to post their questions on the forums so everyone can benefit and learn, instead of PM the mentors.

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For members, there is no change - you post your questions on the forum. You will just have the mentors answering them, and you will know that those are members you can trust. Of course I'm still here and will be available as well, but it will allow for more active and prompt responses (in case I'm not near my computer, there will be a mentor to provide a prompt response). And members will get more diverse responses.

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My experience starts in the 90's when I used to do phone trades with commodities.  With the internet and such I passed the Series 7 and started trading stocks with Bright Trading in 2001 for a few years in their heyday.  That tapered off a few years later with the introduction of high frequency trading.  I just couldn't compete. I traded both stocks and options on my own after that with mixed success.  Good enough to keep going but not making much.   I have tried many services and am surprised when we actually get openings for new members, as Steady Options is easily the best out there for retail option traders from home.  I hope to contribute by answering questions from these new traders as they come on line with us.  The regular newbie questions that get asked again and again, whenever spots become available. I trade and understand the official Steady Options strategies and will help there as much as possible (allocations, how to get well priced fills, some of the whys), although there are obviously quite a few very advanced and knowledgeable people here.  I trade full-time and am usually available, however I have been traveling the past few weeks. 

 

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Wanted to write a short bio as well.

I trade options since about 20 years. I started very young with the idea to double my money every few weeks :)  needless to say I burned my account a few times back then. Thankfully very low amounts but it still hurt as back then that was a good chunk of my (non existing) savings. It still inspired me to pursue a career in option trading. So for 12 years I traded options for a number of banks. I survived the financial crisis while trading bank stocks and options (fun times). But I left years later when banks got out of trading due to more regulation, compliance and margin pressure. From that time I think I have a very good technical option knowledge.

I traded my own money full time for a year after that. I was surprised how different that was from trading at a bank. I learned more about position sizing, discipline, psychology and myself as a trader than in the years before and I found that SO helpful for that.  I had time to do extensive research on every trade Kim suggested and find my own trades and I would have my own timing and entry levels. I was quite active on the forum in that time and many of the well over 1,000 comments/posts I made are from that time. I’m back to a ‘normal’ day job since a few years now so have a lot less time for all of that and scaled my trading back to a few systematic, low maintenance trades – Steady Condors is one of them (I have my own setup and timing but its not too different what SC does). I’m trying to add a few single stock earnings trades back into the mix so I’m getting a bit more active again on the forum as well and will try to be helpful when I  come across a question and as time allows. I will tend to pick up question that are option or trading specific (Greeks, assignment, trade setup… etc) as I will only be in a handful of trades a quarter so will have little to say about the specific setup of a particular trade unless I’m in it.    

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Would any of the mentors be willing, with Kim's approval obviously, to do webinars on different topics related SO strategies.  It would be great if we could watch and learn and then have the ability to ask questions on a regular basis in a more concise setting.  They could be recorded and we could repeatedly go back to the topics when we have forgotten something or had missed something.  Also new members could be directed there and would help get them up to speed quicker.  The webinars that Kim have done in the past were great and i have watched them several times.  I have found new info i had missed or wasnt able to comprehend at the time but when i returned i was able to digest.  I think this would be a real asset to allot of less knowedeable members.  

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For my 2 cents worth, I think SO is an excellent service.  I've only been a subscriber for 5 months, but have had 5 winning months.  I love being able to sleep at night knowing that most of my trades are non-directional.  The SO system seems very consistent.  And I've used a number of option trading systems in the past.  I've never been consistent on any of those, and it's not always because they lose money, as much as I can't stomach some of the trades and exit too early and lose money.

To me, the main point I would emphasize on any trading system is to keep your trade sizes consistent.  You can lose money even when SO makes money if you oversize the one or two losing trades out of 10.  For me, every trade I make Is close to the same size because that's the only way to have consistently winning months/years.

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3 hours ago, Kim said:

Please welcome our new mentor @luxmon

He has been with us since 2013, decided to take a break and recently re joined Creating Alpha.

@luxmon will be responsible for mentoring on the Creating Alpha forum at this point.

Congratulations to @luxmon... he is a great contributor and his knowledge and guidance helped me tremendously when I first started with SO. 

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I am honored to be asked to help mentor the CA PV forum.  A little about my background:  I started self-directed investing in stocks 25 years ago and augmented that with covered call selling and collaring about 10 years ago.  I wanted to get more serious about trading options and spreads, so after a lot of research I decided upon SteadyOptions forum in 2013.  It was here I really learned the importance of key principles like position size, portfolio balance, risk/reward planning, and often overlooked trade execution skills.  I still trade a few pre-earnings names I follow when conditions setup and time allows.
 
In the last few years with the air getting thin in stock market valuations I began to work on long equity portfolio hedging techniques.  I focused my learning time (with the help of a mentor)  to establish a background in taking advantage of market conditions to create low cost ways to add long gamma and vega positions to offset the risk with long equity exposure.  I’m excited about the strategies in the CA forum and continuing to learn amongst the members there.  
 
-Tim
 
I use (not intended to endorse any of them, just fyi):
Tools:  LVX, ONE, TOS, VolatilityHQ, custom Excel/Python tools for scanning, and more recently testing out TradeHawk
Brokers:  TDA, Tradier, IB
Stock research services for fundamental analysis:  Stansberry Research

 

Edited by luxmon
CA service discontinued May 2019

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Great News @Kim and @luxmon!  I'm new to SO and am truly a newbie to more complex and structured option strategies.   I'm very experienced in the world of stocks and futures - have learned the good, bad and ugly of it over the years.   So - I'm very happy to be here - am learning a lot and am very impressed with not only HOW Kim has structured this site and various groups, but also with the amount of talent, experience and knowledge that folks bring to the table.   This is exactly what I need - and I am doing the work to absorb the education that is available.  Good Luck Luxmon!

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4 hours ago, Kim said:

Please welcome two new mentors @krisbeeand @rasar

I'm sure most our members know those two members very well. They helped hundreds of members, are well respected in our community - we just making their status "official".

Fantastic - this group has such talent . . .  I have a long ways to go, but am putting the work in.   Thanks for all the mentoring guys!

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54 minutes ago, zxcv64 said:

I AM old enough to remember the Sinclair ZX computer

You are not alone, my friend. I had one. The ZX81. Younger people, google it! A piece of art. 
 

later i also owned a Spectrum. But finally became a traitor and bought a.... yeah, you know, the one ending with “64”. Good old times, those were...

anyways, congrats!

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8 hours ago, jbesr1230 said:

Not sure what processor it ran.  It was a first-generation Apple 2+.  I like to think of myself in terms of an experienced old goat or a well-experienced [fill in with the noun of your choice].  Boomers are more than O.K.; they're Great! ;>)

Hey my first PC ran the 6502 a processor that was even in the eighties 20 years old practically. A good old BBC model B however that processor was also used in the APPLE II.

image.png

The great thing about the 6502 was that people knew it inside out and so it actually outperformed the then newer Motorola 68000 simply because the programmers knew how to squeeze 1000% out of the old dog.

Edited by TrustyJules

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