Weekly Market Recap
Catching you up in less than 5 minutes.
The LongVol Report. Weekly recap for the week ending Friday, March 8.
I am in the US Virgin Islands this morning and the last two days has been a whirlwind. From having a large P&L day while in the cab to losing a wallet to putting out some fires in another business it’s been taxing!
More on that later….let’s get into the recap.
Headlines of the week
Notable Trades for The Week
Each week I plan to highlight a few trades from The Full LongVol Report and trades that our DeltaOne group takes.
We focus on long/short strategies across different time frames and different trade structures so this will help to give free readers a look at our approach.
This was as week for intraday strategy - only one Swing trade triggered and was alerted in the AST $100K Portfolio.
DeltaOne Members hiding milestones
NVDA Open Short - $974 rejected incredibly hard and tail risk trades with 10-20 deltas paid out well. I have some other tails on outside of this name but this is something I’ve talked about the last 2 months; following certain stocks like this because of the increased vol.
Mental/Trading Psychology -
Yesterday was a whirlwind and I don't like operating like that in fact anyone who knows me knows I like order and consistency in things I do but a trip to BVI was booked and while only an 18 min flight it caused some issues.
One, I was trading shorts off the plane (literally off the phone), trying to navigate to the hotel and chat with the cab driver and lost my wallet. All the while, I am searching to get back to the airport to find the cab to get the wallet. Not there. Not good but pulled out cash with my passport and figured I’d use my AAPL 0.00%↑ card and venmo + cash + some friends here so would be okay.
Anyway, I go back to find my wallet in the street, win, day saved.
I also had a talk with a good friend of mine yesterday who trades and I told him about some positions to be short in (NVDA one of them). I explained it pretty well - “do this, put this risk on, these expirations” etc. and wait.
He called to tell me he put way more risk on, got squeezed, capitulated and sold only to see it tank and lose out on $150K or so.
There’s a lesson in all this; my story included.
When you are too distracted you can never execute properly. Second, when you half listen (which to be honest most students I’ve taught are guilty of) you don’t grasp the words being spoken to you. You then take those words and put them to work in the manner to which you think it was said.
What I am trying to say is this; you can read this report, watch the recaps, take training with me, whatever - but if you don’t actually listen and understand what is being said then you won’t find results. I am also saying that when you are too distracted, without a plan, it doesn’t matter what it is you do, you will do it half-assed and fail.
I don’t joke around when it comes to my fund or making money. I take it extremely seriously so while you might get one version of me that is joking around/beating on retail NPCs daily there’s a lot more that goes on you don’t see.
So, when I get calls like that it annoys me, even though it’s not MY money. It annoys me because I’ve been there and I know what that person is going through and I wish I could help but no matter the words I say they have to FEEL IT to get it.
Yesterday, for his sake, I hope he felt it.
Because after a few times of feeling it you’re going to actually wisen up and listen or continue to do dumb shit. And, as you all can see, I am not the person that tells you that “it’s okay” or allows it to go on; I treat most of my students/people who email in as if you were friends; I’d rather tell you you’re being an idiot v. supporting it - not out of malice, but because I’ve been in your shoes and it took mentors on desks I was on dropping F-bomb tirades at me to wake me up.
So, you have to be focused and without distractions when you do this because doing this actively is (for me) the equivalent to playing the Super Bowl everyday: at this level it requires just as much mental focus to operate and it’s DAILY.
Two. You need to listen and really listen. Some of you are incapable of this because you still think you’re too smart, your ego gets in the way, and let me share one of may examples of this.
I’ve told this story 100 times, at least.
During Brexit I had a guy I was training in Landshark and he made $150K that month and I was in Vancouver, BC for the Summer; he used to come to my office and trade with us then so we all made a bet (and told him to his face) that he would lose it all the next month if he kept trading with that erratic approach. The difference was he wasn’t around us daily since we were in BC to tell him to not be dumb hence this bet.
We came back 2 months later and it was almost 80% gone. That’s ego and not listening. I have zero patience to be around any of that which also might be why DeltaOne is so small - because we ball out in there and it’s still small compared to some of the degenerate discords many of you are in.
All of this is on you to figure out any no chat room, training or book is going to fix that. It takes extreme introspection and honest conversations and once that’s done a conclusion and roadmap can be drawn up.
When you do that, or if you do that, I am ready to help.
Wrapping it up.
The Foundations of Professional Trading will be released in a few days. Still putting the final touches together here while I am in BVI.
It was a good week overall and given some of these moves on Friday I think we’re headed for more vol like this esp. with monthly opex next week. That makes for what should be another quality week.
Issue 11 is out tomorrow, see you then!
Dan