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Webinar: Private Banker's Perspective on Risk Management Presentation
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Webinar: Private Banker's Perspective on Risk Management Presentation

  #61 (permalink)
Elite Member
La Jolla, CA
 
Futures Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
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podski View Post
@Private Banker

Great webinar you rattled through a lot of important stuff and I think that 90% of it was really put to bed Clear and clean no need to rehash it in any way. It is one of the top webinars I have seen.

Whether it is a webinar or a book, a thread or a post we all look at it differently. Our trading experience, emotional state and where we are on the road to consistency is what forms our individual lens or viewpoint. I think about this webinar differently today than I would have done a year ago for sure.

From my point of view the Core/Satellite concept is certainly something that I think you can build around. It is hard for a beginning trader to listen to a (very generous and open and much appreciated) 15 year vet and really take in things like:
"Don't focus on your W/L ratio" or "Don't worry about your P/L on a daily basis"


However this webinar very much delivered. You explicitly showed us why the process is valuable and why the immediate P/L is a bit of a distraction. It is the challenge of every trader to get to the stage where they can look at your trade examples and abstract them to their own markets and positions.

If I could suggest content for a 2nd Webinar or even just a 15 minute video it would be to
a. redo the 3 examples of the successful trades but dwell a little on
i. how the top down analysis was done
ii. the thought process when taking the initial position and the scale outs
iii. the end game where you said ... OK .. this is it I'm out ...
b. do a couple of examples of where you got it wrong and had to reconsider your long or short bias
i. where you can successfully say .. I was wrong so I looked to get short instead of long
ii. I was wrong .. wrong .. wrong ... so I went for a run with my dog ..
In any case , I recommend this webinar to everyone but especially people who:
i. chicken out of good trades at the beginning because they are unsure of their top down analysis (or don't have any).
ii. who sees their trades go into profit but then have the trades come back to their entry point or hit their stops.
This webinar shows you the tactical structure of what you need to do to make sure you make consistent profits and don't give it all back. It has the potential to strengthen your weak hands.


Thanks again PB,

p

Thanks! Those are some great suggestions. I'll certainly put this into consideration for the next presentation.

Cheers,
Ben

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  #62 (permalink)
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Mean Reversion Satellite Core theory

@Private Banker

I was re-watching your video recently. It is still a great piece of educational material. But I was curious about mean reversion strategies using the value area high/low and VWAP bands. I know you use the satellite core theory for risk management but most of the examples are trend following. So any retracements to those areas may provide a place to add.

Is there a way to implement Satellite Core for mean reversion type trades? How / what areas would you look to add on and take off positions? Thanks.

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  #63 (permalink)
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treydog999 View Post
@Private Banker

I was re-watching your video recently. It is still a great piece of educational material. But I was curious about mean reversion strategies using the value area high/low and VWAP bands. I know you use the satellite core theory for risk management but most of the examples are trend following. So any retracements to those areas may provide a place to add.

Is there a way to implement Satellite Core for mean reversion type trades? How / what areas would you look to add on and take off positions? Thanks.

Thanks. If the market is trending that means its in an imbalanced state. Those are the situations where one would want to push as much as possible while cycling through profits. Price is in an imbalanced state (price discovery) and the expectation for the move is unlimited until balance returns. Contrary to that, when price is balanced, we would expect rotational price action. In this scenario, taking a mean reversion trade is a targeted trade. We would have a limited expectation for price which skews the risk-reward profile. So, to answer your question, I do not utilize a core-satellite approach in this type of scenario. I believe its not the right context to do so.

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