RE: [SuperTraderKarenStudy] Interview


Feb 12, 2014

 


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#137 Feb 12, 2014

Can anyone provide a link to Karen's interview that was suppose to air on Feb 11th on Tastytrade?. I've been searching for updates on site but can't find it..Lawrence



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#138 Feb 12, 2014

Hi Lawrence,

here you go.

www.tastytrade.com/tt/shows/tasty-extras



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#3910 Jul 10, 2015

m.youtube.com/watch?v=a25ZSxUl920&feature=youtu.be&a=

Sent from Yahoo Mail on Android



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#3914 Jul 10, 2015

Interesting.

1. I noticed that Karen stated she is managing $230 million. At one time in prior interviews she mentioned two accounts that she was trading. If the $230 million represents both accounts, then her assets/funds under management�� (AUM) have declined substantially. This is not necessarily due to losses in the market - could be that her clients are pulling money and moving it elsewhere.

2. Also not sure why Karen would be "shilling" for Dan Sheridan and his annual options conference. To me this diminishes her reputation.�� Just my opinion. I have a negative opinion of most of the financial education outlets. But to be fair I have never heard of Dan and have no idea how great or not his program is.

3. As a frame of reference, most "standard" retail brokers (at BofA ML, MS, GS)�� who have been in the business for +10 years or so, manage at least $100 million dollars, so Karen at $200 - $300 million in AUM should not be considered a large amount of $$$ to manage.





To: supertraderkarenstudy@yahoogroups.comFrom: supertraderkarenstudy@yahoogroups.comDate: Fri, 10 Jul 2015 05:37:12 -0700Subject: [SuperTraderKarenStudy] Karen new interview

�� m.youtube.com/watch?v=a25ZSxUl920&feature=youtu.be&a=

Sent from Yahoo Mail on Android



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#3919 Jul 10, 2015

thanks



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#3925 Jul 10, 2015

Alan,

I don't consider Karen to be "shilling" for Dan Sheridan and I think you have drawn an erroneous conclusion in your derogatory assertion that she "shilled" for him when she spoke at Dan's conference.�� I have known Dan Sheridan (www.sheridanmentoring.com) for several years and he is one of the most honest, dedicated and well qualified educators out there.�� He was a marketmaker on the CBOE for over 20 years.�� He has an annual 2 day conference in Chicago (held at the U of Chicago Booth School of Business) and his speakers normally include Tom Sosnoff (who has interviewed Karen at least 2 or 3 times on his show, Tastytrade), and Jon Najarian and some of Dan's capable teachers and successful former students, along with educators from the CBOE education staff (all former marketmakers on the Chicago Board Options Exchange and most have written 1 or more excellent books on options -- Jim Bittman, Russell Rhodes, etc.).��



Dan does a free "Options Safari" on the CBOE website every week.�� He has trained many of the people who are now out there offering their own training.�� He cares about his students learning and becoming successful options traders.�� He keeps no secrets but presents all of his ideas in the free talks he gives in various places since he believes that trading options requires experience, knowledge, judgement and skill -- it is not a robotic exercise.�� People who mentor with him learn the "craft" of trading options -- they learn how to think about their trading and how to place and adjust their trades depending on market conditions -- not just a few mechanical, rule-bound types of trades that could be done by a "black box."���� As Karen said in her interview, Dan teaches you how to "know what to do when you get in trouble" trading options.

We are fortunate to have well-qualified teachers available to educate us retail traders -- this was not generally the case until the past 8 or 10 years.�� There are certainly some charlatans out there, but most of the ones I have met are experienced and knowledgeable traders (many are former CBOE marketmakers) and they have to do some marketing in order for potential students to know what is available.�� What successful business do you know of that does not do marketing?�� Even most colleges market themselves these days -- it's a necessary part of running a business and education is a business since teachers have to make a living and pay their way just like people from other walks of life.

No one has to mentor with anyone but, in my opinion, choosing to work with a competent teacher/mentor can speed up the learning process and help us climb the "learning curve" without too many costly stumbles.�� This forum is a valuable educational environment where members freely share their experience and knowledge to help each other learn.�� Those who prefer to learn from group discussions will benefit strongly from this type of forum -- those who want to include more individualized and broader based options knowledge and training, along with a supportive forum experience, can benefit from working with a teacher/mentor like Dan.



Mary Ann Norfleet





From: "Alan R ajrand@... [supertraderkarenstudy]" supertraderkarenstudy@yahoogroups.com> To: "supertraderkarenstudy@yahoogroups.com" supertraderkarenstudy@yahoogroups.com> Sent: Friday, July 10, 2015 11:01 AM Subject: RE: [SuperTraderKarenStudy] Karen new interview

��Interesting.

1. I noticed that Karen stated she is managing $230 million. At one time in prior interviews she mentioned two accounts that she was trading. If the $230 million represents both accounts, then her assets/funds under management�� (AUM) have declined substantially. This is not necessarily due to losses in the market - could be that her clients are pulling money and moving it elsewhere.

2. Also not sure why Karen would be "shilling" for Dan Sheridan and his annual options conference. To me this diminishes her reputation.�� Just my opinion. I have a negative opinion of most of the financial education outlets. But to be fair I have never heard of Dan and have no idea how great or not his program is.

3. As a frame of reference, most "standard" retail brokers (at BofA ML, MS, GS)�� who have been in the business for +10 years or so, manage at least $100 million dollars, so Karen at $200 - $300 million in AUM should not be considered a large amount of $$$ to manage.





To: supertraderkarenstudy@yahoogroups.comFrom: supertraderkarenstudy@yahoogroups.comDate: Fri, 10 Jul 2015 05:37:12 -0700Subject: [SuperTraderKarenStudy] Karen new interview

�� m.youtube.com/watch?v=a25ZSxUl920&feature=youtu.be&a=

Sent from Yahoo Mail on Android







----------------------------

#3927 Jul 10, 2015

They want to charge you $400.00 to hear the rest of the interview, oh brother. Anything for a buck I guess. ��Keith



----------------------------

#3928 Jul 10, 2015

Hi Mary Ann, I agree with you 100%. ��We all need education because it is a business and we all learn. ��I find it very interesting that many of Dan's former students and investools are all selling a service. ��You can get the same education free from tasty trade. ��Karen has talked about the 25 K she spent to get a PhD from investools. ��Do you think the educational material from Tastytrade is as good as Dan's or Investools? ��

Thanks

Radpoker

To: supertraderkarenstudy@yahoogroups.comFrom: supertraderkarenstudy@yahoogroups.comDate: Fri, 10 Jul 2015 22:07:44 +0000Subject: Re: [SuperTraderKarenStudy] Karen new interview

��

Alan,

I don't consider Karen to be "shilling" for Dan Sheridan and I think you have drawn an erroneous conclusion in your derogatory assertion that she "shilled" for him when she spoke at Dan's conference.�� I have known Dan Sheridan (www.sheridanmentoring.com) for several years and he is one of the most honest, dedicated and well qualified educators out there.�� He was a marketmaker on the CBOE for over 20 years.�� He has an annual 2 day conference in Chicago (held at the U of Chicago Booth School of Business) and his speakers normally include Tom Sosnoff (who has interviewed Karen at least 2 or 3 times on his show, Tastytrade), and Jon Najarian and some of Dan's capable teachers and successful former students, along with educators from the CBOE education staff (all former marketmakers on the Chicago Board Options Exchange and most have written 1 or more excellent books on options -- Jim Bittman, Russell Rhodes, etc.).��



Dan does a free "Options Safari" on the CBOE website every week.�� He has trained many of the people who are now out there offering their own training.�� He cares about his students learning and becoming successful options traders.�� He keeps no secrets but presents all of his ideas in the free talks he gives in various places since he believes that trading options requires experience, knowledge, judgement and skill -- it is not a robotic exercise.�� People who mentor with him learn the "craft" of trading options -- they learn how to think about their trading and how to place and adjust their trades depending on market conditions -- not just a few mechanical, rule-bound types of trades that could be done by a "black box."���� As Karen said in her interview, Dan teaches you how to "know what to do when you get in trouble" trading options.

We are fortunate to have well-qualified teachers available to educate us retail traders -- this was not generally the case until the past 8 or 10 years.�� There are certainly some charlatans out there, but most of the ones I have met are experienced and knowledgeable traders (many are former CBOE marketmakers) and they have to do some marketing in order for potential students to know what is available.�� What successful business do you know of that does not do marketing?�� Even most colleges market themselves these days -- it's a necessary part of running a business and education is a business since teachers have to make a living and pay their way just like people from other walks of life.

No one has to mentor with anyone but, in my opinion, choosing to work with a competent teacher/mentor can speed up the learning process and help us climb the "learning curve" without too many costly stumbles.�� This forum is a valuable educational environment where members freely share their experience and knowledge to help each other learn.�� Those who prefer to learn from group discussions will benefit strongly from this type of forum -- those who want to include more individualized and broader based options knowledge and training, along with a supportive forum experience, can benefit from working with a teacher/mentor like Dan.



Mary Ann Norfleet





From: "Alan R ajrand@... [supertraderkarenstudy]" supertraderkarenstudy@yahoogroups.com> To: "supertraderkarenstudy@yahoogroups.com" supertraderkarenstudy@yahoogroups.com> Sent: Friday, July 10, 2015 11:01 AM Subject: RE: [SuperTraderKarenStudy] Karen new interview

��Interesting.

1. I noticed that Karen stated she is managing $230 million. At one time in prior interviews she mentioned two accounts that she was trading. If the $230 million represents both accounts, then her assets/funds under management�� (AUM) have declined substantially. This is not necessarily due to losses in the market - could be that her clients are pulling money and moving it elsewhere.

2. Also not sure why Karen would be "shilling" for Dan Sheridan and his annual options conference. To me this diminishes her reputation.�� Just my opinion. I have a negative opinion of most of the financial education outlets. But to be fair I have never heard of Dan and have no idea how great or not his program is.

3. As a frame of reference, most "standard" retail brokers (at BofA ML, MS, GS)�� who have been in the business for +10 years or so, manage at least $100 million dollars, so Karen at $200 - $300 million in AUM should not be considered a large amount of $$$ to manage.





To: supertraderkarenstudy@yahoogroups.comFrom: supertraderkarenstudy@yahoogroups.comDate: Fri, 10 Jul 2015 05:37:12 -0700Subject: [SuperTraderKarenStudy] Karen new interview

�� m.youtube.com/watch?v=a25ZSxUl920&feature=youtu.be&a=

Sent from Yahoo Mail on Android



----------------------------

#3931 Jul 10, 2015

My two cents...

Tastytrade is by far the best education I've received. I paid for numerous classes, rooms, strategies, books, etc, and I didn't learn how to make consistent money until Tastytrade. Heck, our whole group here is based on a trader they featured. I've been trading about 5 years and I've been more profitable in the last year watching Tasty than the other four years combined! They are quality. I have yet to receive and email back from Tom or Tony more than 24 from writing them, and it seems like every study they do is something I want to do but don't have the capacity. I follow none of their trades, but follow pretty everything from their style and strategy... They have actually taught me trading and not some system to subscribeto.

Craig







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#3932 Jul 10, 2015

At this point, I would much rather hear Tom and Keith speak on trading! ��I appreciate you guys sharing so much detail about your trading. ��I don't post often, but I feel like I'm learning a great deal.

I think the thing that frustrates me is that I hear Karen -- she rolls the tested side out and away if necessary, while Tastytrade teaches primarily to only roll the untested side. ��I love the research from Tastytrade, but it often seems as though it contradicts how Karen trades. ��Karen said that she would NEVER go inverted, while Tom and Tony sometimes do.

I just feel in my gut that Karen is much more successful even though she doesn't always trade in line with Tastytrade research. ��

Tom and Keith, thanks again for sharing daily. ��Hopefully one day I will put this all together.

Bobby

From: "'Keith Dutter' kdutter@... [supertraderkarenstudy]" supertraderkarenstudy@yahoogroups.com> To: supertraderkarenstudy@yahoogroups.com Sent: Friday, July 10, 2015 6:33 PM Subject: [SuperTraderKarenStudy] Interview

��They want to charge you $400.00 to hear the rest of the interview, oh brother. Anything for a buck I guess. ��Keith



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#3934 Jul 10, 2015

Hi Bobby,

Here is what I think about going inverted, I try and trade like Karen on my SPX trades, and you are so far out the money that the credit receive is not enough to soften the blow on the tested side, so on Karen style it would be a big mistake to try and go inverted. You have to trade puts and calls on different condition of market, and it has to be independent. Karen is receiving lets say about $1.50 for a call, that is not enough to protect a put when market is going down.

But I also trade super small other underlines, I do that cause I love so much to trade that it gives me thing to look at during the week, many of those underlines don't have a volatility skew and I tend to sell the 1 std deviation, some times there you have to roll the untested side, or roll to next month the tested side and go inverted, its the only way to get back to even. But if you try to do something like that on the SPX and your initial position is 2std deviations away, you are going to get hammered sooner or later.��

So I think what Karen does and what tasty trade teaches are not in contradiction.��

To: supertraderkarenstudy@yahoogroups.comFrom: supertraderkarenstudy@yahoogroups.comDate: Sat, 11 Jul 2015 03:02:29 +0000Subject: Re: [SuperTraderKarenStudy] Interview

��

At this point, I would much rather hear Tom and Keith speak on trading! ��I appreciate you guys sharing so much detail about your trading. ��I don't post often, but I feel like I'm learning a great deal.

I think the thing that frustrates me is that I hear Karen -- she rolls the tested side out and away if necessary, while Tastytrade teaches primarily to only roll the untested side. ��I love the research from Tastytrade, but it often seems as though it contradicts how Karen trades. ��Karen said that she would NEVER go inverted, while Tom and Tony sometimes do.

I just feel in my gut that Karen is much more successful even though she doesn't always trade in line with Tastytrade research. ��

Tom and Keith, thanks again for sharing daily. ��Hopefully one day I will put this all together.

Bobby

From: "'Keith Dutter' kdutter@... [supertraderkarenstudy]" supertraderkarenstudy@yahoogroups.com> To: supertraderkarenstudy@yahoogroups.com Sent: Friday, July 10, 2015 6:33 PM Subject: [SuperTraderKarenStudy] Interview

��They want to charge you $400.00 to hear the rest of the interview, oh brother. Anything for a buck I guess. ��Keith



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#3935 Jul 11, 2015

Antonio,

Thanks for your response. ��I do believe I understand what you're talking about. ��

Thanks,

Bobby

From: "antonio porres aporresm@... [supertraderkarenstudy]" supertraderkarenstudy@yahoogroups.com> To: "supertraderkarenstudy@yahoogroups.com" supertraderkarenstudy@yahoogroups.com> Sent: Saturday, July 11, 2015 12:45 AM Subject: RE: [SuperTraderKarenStudy] Interview

��Hi Bobby,

Here is what I think about going inverted, I try and trade like Karen on my SPX trades, and you are so far out the money that the credit receive is not enough to soften the blow on the tested side, so on Karen style it would be a big mistake to try and go inverted. You have to trade puts and calls on different condition of market, and it has to be independent. Karen is receiving lets say about $1.50 for a call, that is not enough to protect a put when market is going down.

But I also trade super small other underlines, I do that cause I love so much to trade that it gives me thing to look at during the week, many of those underlines don't have a volatility skew and I tend to sell the 1 std deviation, some times there you have to roll the untested side, or roll to next month the tested side and go inverted, its the only way to get back to even. But if you try to do something like that on the SPX and your initial position is 2std deviations away, you are going to get hammered sooner or later.��

So I think what Karen does and what tasty trade teaches are not in contradiction.��





To: supertraderkarenstudy@yahoogroups.comFrom: supertraderkarenstudy@yahoogroups.comDate: Sat, 11 Jul 2015 03:02:29 +0000Subject: Re: [SuperTraderKarenStudy] Interview

��

At this point, I would much rather hear Tom and Keith speak on trading! ��I appreciate you guys sharing so much detail about your trading. ��I don't post often, but I feel like I'm learning a great deal.

I think the thing that frustrates me is that I hear Karen -- she rolls the tested side out and away if necessary, while Tastytrade teaches primarily to only roll the untested side. ��I love the research from Tastytrade, but it often seems as though it contradicts how Karen trades. ��Karen said that she would NEVER go inverted, while Tom and Tony sometimes do.

I just feel in my gut that Karen is much more successful even though she doesn't always trade in line with Tastytrade research. ��

Tom and Keith, thanks again for sharing daily. ��Hopefully one day I will put this all together.

Bobby

From: "'Keith Dutter' kdutter@... [supertraderkarenstudy]" supertraderkarenstudy@yahoogroups.com> To: supertraderkarenstudy@yahoogroups.com Sent: Friday, July 10, 2015 6:33 PM Subject: [SuperTraderKarenStudy] Interview

��They want to charge you $400.00 to hear the rest of the interview, oh brother. Anything for a buck I guess. ��Keith







----------------------------

#3936 Jul 11, 2015

Hello Bobby,

First of all remember...

I know nothing!!!

Dan Sheridan has taught me more about Karen style trading than Karen herself.�� He goes into detail on setting up trading credit spreads as a business.�� He discusses strike selection and adjustments when the trade goes against you.�� You can listen to several of his discussions on TOS that are archived in the seminars.

Karen learned the basics of her advanced strategy from Dan, and her risk management has Dan written all over it.�� She just tweaked things a little to fit her trading style.

tastytrade presents strategies based strongly in probabilities and they trade according to the numbers.�� Karen's style is riskier and she only has her P/L to go on...

The "convention" is that when your position is tested you want to remove risk from the table.�� Karen uses a tweak that actually increases her risk.�� She is comfortable taking that additional risk because of the size of her bank roll and the "safety" of her strike positions.�� I have tried to follow this, but as you saw last month when it goes against you, you have to scramble.�� I am still upset that I ended up (300) short on that trade, but being down (300) is much better than being down (4880) but I hate to lose.

Tom



---In supertraderkarenstudy@yahoogroups.com, bethandbob203@...> wrote :

At this point, I would much rather hear Tom and Keith speak on trading! ��I appreciate you guys sharing so much detail about your trading. ��I don't post often, but I feel like I'm learning a great deal.

I think the thing that frustrates me is that I hear Karen -- she rolls the tested side out and away if necessary, while Tastytrade teaches primarily to only roll the untested side. ��I love the research from Tastytrade, but it often seems as though it contradicts how Karen trades. ��Karen said that she would NEVER go inverted, while Tom and Tony sometimes do.

I just feel in my gut that Karen is much more successful even though she doesn't always trade in line with Tastytrade research. ��

Tom and Keith, thanks again for sharing daily. ��Hopefully one day I will put this all together.

Bobby



----------------------------

#3937 Jul 11, 2015

The single aspect of Karen's trading that concerns me is a Black Swan event that drives the market down like it did during 9-11 or the "flash-crash". ��Vol goes up through the roof and premiums swells like crazy. ��With all due respect, I don't think Karen has gone through one of these events in her trading career. ��When asked about that, she replies that 911 and the 'flash-crash' have led the exchanges to institute "Circuit Breakers" that stop trading for a period of time which supposedly will slow massive panic sell-offs, and provide traders time to reconsider their transactions.��

In theory, that will also provide the necessary time for implementing trade adjustments in a Karen-style trade. Additionally, the positions have the built-in safety of being around 2 SD's OTM��

Problems with that 'theory':

--The breakers at the NYSE have 3 levels tied to an S&P drop: 7%, 13% and 20% of the average closing price of the month preceding the start of the quarter. In 2014 the point-equivalent drop for the first level was 126 points before trading is halted for 15 minutes [unless it occurs after 3;25 pm, when no halt applies].��--Not too hard to model the repercussions of a 126 point drop in the S&P as long as it is "orderly". But if this drop happens in an hour or two, then how can that be modeled?--What happens after the 15-minute halt? IV will go through the roof and stay there or increase. Traders trying to "adjust" a losing trade will try to roll it, but the target option will be impossibly expensive, assuring a loss..��--If rolling won't work, the only practical course of action may be to enter a new short trade hoping to be near the top of the IV increase, and hoping to profit from an IV reduction. A tricky proposition.����--Any "adjustment" will have to be implemented right in the middle of a short squeeze of gargantuan proportions.Good luck getting filled on options that are changing in price by the millisecond.��--My limited experience suggests that when facing a 'black swan' event, market-makers react to extreme uncertainty by halting ��filling orders until they have a better handle of where things are heading and how to price options.



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#3942 Jul 11, 2015

I think that concerns us all. But, she did go through the flashcrash. Other than that, I agree with what you.ve said. I think the only way tobe protected from a black swan is to be out of the market at that time or puton only defined risk trades (which will limit your downside during the event).My wife.s brother-in-law likes to put his money into the market the day before itstarts going down for an extended period of time. I make sure he tells me whenhe.s doing that and use that as a signal to get out or short. If he putseverything in, that probably means black swan the next day. ��Ralph



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#3946 Jul 11, 2015

Tom,

You may know nothing, but I wish I knew as little as you!��

In my quest to know as little as you, I'm glad to hear that Dan Sheridan has taught you more about Karen style trading than Karen herself. ��Is there any specific training, book, or class from him that you would recommend?

I realize the best training will come through actual trading, however, my trading is currently limited to spreads.��

Also, I would be interested to know of other resources that you feel are helpful in our attempt to learn more about Karen style trading. ��I love Tastytrade . . . especially the market measure segments. ��Tom, you certainly are one of the best resources that I have in studying this style of trading and your insight and trade log are so valuable. ��

Thank you!

Bobby

From: "poast@... [supertraderkarenstudy]" supertraderkarenstudy@yahoogroups.com> To: supertraderkarenstudy@yahoogroups.com Sent: Saturday, July 11, 2015 1:44 PM Subject: Re: [SuperTraderKarenStudy] Interview

��Hello Bobby,

First of all remember...

I know nothing!!!

Dan Sheridan has taught me more about Karen style trading than Karen herself.�� He goes into detail on setting up trading credit spreads as a business.�� He discusses strike selection and adjustments when the trade goes against you.�� You can listen to several of his discussions on TOS that are archived in the seminars.

Karen learned the basics of her advanced strategy from Dan, and her risk management has Dan written all over it.�� She just tweaked things a little to fit her trading style.

tastytrade presents strategies based strongly in probabilities and they trade according to the numbers.�� Karen's style is riskier and she only has her P/L to go on...

The "convention" is that when your position is tested you want to remove risk from the table.�� Karen uses a tweak that actually increases her risk.�� She is comfortable taking that additional risk because of the size of her bank roll and the "safety" of her strike positions.�� I have tried to follow this, but as you saw last month when it goes against you, you have to scramble.�� I am still upset that I ended up (300) short on that trade, but being down (300) is much better than being down (4880) but I hate to lose.

Tom





---In supertraderkarenstudy@yahoogroups.com, bethandbob203@...> wrote :

At this point, I would much rather hear Tom and Keith speak on trading! ��I appreciate you guys sharing so much detail about your trading. ��I don't post often, but I feel like I'm learning a great deal.

I think the thing that frustrates me is that I hear Karen -- she rolls the tested side out and away if necessary, while Tastytrade teaches primarily to only roll the untested side. ��I love the research from Tastytrade, but it often seems as though it contradicts how Karen trades. ��Karen said that she would NEVER go inverted, while Tom and Tony sometimes do.

I just feel in my gut that Karen is much more successful even though she doesn't always trade in line with Tastytrade research. ��

Tom and Keith, thanks again for sharing daily. ��Hopefully one day I will put this all together.

Bobby







----------------------------

#3947 Jul 11, 2015

Ralph,

Don't forget about your Yahoo group buddies and let us know when wife brother in law put money on the Market. Maybe he got in the chinese market while vacationing on the greek islands. ��=)

Nice weekend��

To: supertraderkarenstudy@yahoogroups.comFrom: supertraderkarenstudy@yahoogroups.comDate: Sat, 11 Jul 2015 13:36:46 -0700Subject: Re: [SuperTraderKarenStudy] Interview

��I think that concerns us all. But, she did go through the flashcrash. Other than that, I agree with what you.ve said. I think the only way tobe protected from a black swan is to be out of the market at that time or puton only defined risk trades (which will limit your downside during the event).My wife.s brother-in-law likes to put his money into the market the day before itstarts going down for an extended period of time. I make sure he tells me whenhe.s doing that and use that as a signal to get out or short. If he putseverything in, that probably means black swan the next day. ��Ralph



----------------------------

#3948 Jul 11, 2015

Having traded through the Flash Crash and suffering a 6 figure one day loss, I can share that when volatility swells like that, all theoretical backtests and theories go out the window. ��The only way to survive is to have nerves of steel which Karen obviously does or have a portfolio that is directionally positioned to not get hurt too badly.



----------------------------

#3949 Jul 11, 2015

Hello Tom,



"You can listen to several of his discussions on TOS that are archived in the seminars."

Would you mind tell me where can I find those archived videos?

Thank in advanced.



Bob





On Saturday, July 11, 2015 8:43 PM, "loebjm@... [supertraderkarenstudy]" supertraderkarenstudy@yahoogroups.com> wrote:

��Having traded through the Flash Crash and suffering a 6 figure one day loss, I can share that when volatility swells like that, all theoretical backtests and theories go out the window. ��The only way to survive is to have nerves of steel which Karen obviously does or have a portfolio that is directionally positioned to not get hurt too badly.



----------------------------

#3950 Jul 11, 2015

Hello Bobby,

In TOS click on Support/Chat.�� Then click on Seminars.�� Up at the top right side you will see Search in Archives.�� Type in Sheridan and hit return.

Tom



----------------------------

#3951 Jul 11, 2015

Hello Bob,

See my reply to Bobby that I just posted.

Tom



----------------------------

#3956 Jul 12, 2015

Hi Chris,�� I have never taken anything from Investools so I don't know anything about their educational program or materials.�� I think Tastytrade is very good.�� I especially like the way Liz and Jenny discuss their trades and the research Tom and Tony present.�� Tom Preston is also very good.�� I think Dan teaches more about how and when to adjust trades in the courses he offers through Sheridanmentoring.com -- I think the Tastytraders tend to "trade small and trade often" and don't talk much about�� adjustments.�� Every trader has to determine what style of trading suits their own personal preferences.�� A lot of Dan's former students now make their living as traders -- and I assume that there are also a lot of full-time traders who have learned from Tastytrade.��



CBOE.com has a lot of excellent Strategy and Education videos in the Strategies section of their website.�� They are presented by a lot of different people.�� Among them, Dan Sheridan has 34 Options Safari videos.�� All of the videos in this Strategy section are free;�� they're listed on this page:�� www.cboe.com/tradtool/webcast.aspx?channel=986#stream��



Mary Ann







From: "Chris chrisfitz65@... [supertraderkarenstudy]" supertraderkarenstudy@yahoogroups.com> To: "supertraderkarenstudy@yahoogroups.com" supertraderkarenstudy@yahoogroups.com> Sent: Friday, July 10, 2015 5:54 PM Subject: RE: [SuperTraderKarenStudy] Karen new interview

��Hi Mary Ann, I agree with you 100%. ��We all need education because it is a business and we all learn. ��I find it very interesting that many of Dan's former students and investools are all selling a service. ��You can get the same education free from tasty trade. ��Karen has talked about the 25 K she spent to get a PhD from investools. ��Do you think the educational material from Tastytrade is as good as Dan's or Investools? ��

Thanks

Radpoker





To: supertraderkarenstudy@yahoogroups.comFrom: supertraderkarenstudy@yahoogroups.comDate: Fri, 10 Jul 2015 22:07:44 +0000Subject: Re: [SuperTraderKarenStudy] Karen new interview

��

Alan,

I don't consider Karen to be "shilling" for Dan Sheridan and I think you have drawn an erroneous conclusion in your derogatory assertion that she "shilled" for him when she spoke at Dan's conference.�� I have known Dan Sheridan (www.sheridanmentoring.com) for several years and he is one of the most honest, dedicated and well qualified educators out there.�� He was a marketmaker on the CBOE for over 20 years.�� He has an annual 2 day conference in Chicago (held at the U of Chicago Booth School of Business) and his speakers normally include Tom Sosnoff (who has interviewed Karen at least 2 or 3 times on his show, Tastytrade), and Jon Najarian and some of Dan's capable teachers and successful former students, along with educators from the CBOE education staff (all former marketmakers on the Chicago Board Options Exchange and most have written 1 or more excellent books on options -- Jim Bittman, Russell Rhodes, etc.).��



Dan does a free "Options Safari" on the CBOE website every week.�� He has trained many of the people who are now out there offering their own training.�� He cares about his students learning and becoming successful options traders.�� He keeps no secrets but presents all of his ideas in the free talks he gives in various places since he believes that trading options requires experience, knowledge, judgement and skill -- it is not a robotic exercise.�� People who mentor with him learn the "craft" of trading options -- they learn how to think about their trading and how to place and adjust their trades depending on market conditions -- not just a few mechanical, rule-bound types of trades that could be done by a "black box."���� As Karen said in her interview, Dan teaches you how to "know what to do when you get in trouble" trading options.

We are fortunate to have well-qualified teachers available to educate us retail traders -- this was not generally the case until the past 8 or 10 years.�� There are certainly some charlatans out there, but most of the ones I have met are experienced and knowledgeable traders (many are former CBOE marketmakers) and they have to do some marketing in order for potential students to know what is available.�� What successful business do you know of that does not do marketing?�� Even most colleges market themselves these days -- it's a necessary part of running a business and education is a business since teachers have to make a living and pay their way just like people from other walks of life.

No one has to mentor with anyone but, in my opinion, choosing to work with a competent teacher/mentor can speed up the learning process and help us climb the "learning curve" without too many costly stumbles.�� This forum is a valuable educational environment where members freely share their experience and knowledge to help each other learn.�� Those who prefer to learn from group discussions will benefit strongly from this type of forum -- those who want to include more individualized and broader based options knowledge and training, along with a supportive forum experience, can benefit from working with a teacher/mentor like Dan.



Mary Ann Norfleet





From: "Alan R ajrand@... [supertraderkarenstudy]" supertraderkarenstudy@yahoogroups.com> To: "supertraderkarenstudy@yahoogroups.com" supertraderkarenstudy@yahoogroups.com> Sent: Friday, July 10, 2015 11:01 AM Subject: RE: [SuperTraderKarenStudy] Karen new interview

��Interesting.

1. I noticed that Karen stated she is managing $230 million. At one time in prior interviews she mentioned two accounts that she was trading. If the $230 million represents both accounts, then her assets/funds under management�� (AUM) have declined substantially. This is not necessarily due to losses in the market - could be that her clients are pulling money and moving it elsewhere.

2. Also not sure why Karen would be "shilling" for Dan Sheridan and his annual options conference. To me this diminishes her reputation.�� Just my opinion. I have a negative opinion of most of the financial education outlets. But to be fair I have never heard of Dan and have no idea how great or not his program is.

3. As a frame of reference, most "standard" retail brokers (at BofA ML, MS, GS)�� who have been in the business for +10 years or so, manage at least $100 million dollars, so Karen at $200 - $300 million in AUM should not be considered a large amount of $$$ to manage.





To: supertraderkarenstudy@yahoogroups.comFrom: supertraderkarenstudy@yahoogroups.comDate: Fri, 10 Jul 2015 05:37:12 -0700Subject: [SuperTraderKarenStudy] Karen new interview

�� m.youtube.com/watch?v=a25ZSxUl920&feature=youtu.be&a=

Sent from Yahoo Mail on Android







----------------------------

#3967 Jul 12, 2015

Antonio...I will definitely let you know!�� ������He sure seems to be a barometer somehow. He went to theBahamas on June 6th for 2 weeks. Check out what SPX did during thattime. I didn.t notice it until now.I need to pay attention to when he goes onvacation too!�� ��Ralph



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