Been a while! Recent Life and Recent Trades

Been a while since I posted, but I guess that’s nothing new. Trading has been extremely boring this year because it’s become very systematic and mechanical in nature. The year to date return is approaching 34% and expectation is 40-45% by EOY given the theta levels in the account. Ideally, this huge up move slows down and gets back towards our tent. On the research side, I’m looking at a BSH factory type setup that’s utilising our core structures as an income to compensate along with several types of bearish flies. Along with that, a responsive IVTS (VIX/VIX3m) based system for opportunistic black swan hedges. Along with that, moved back on to the LTI research and trying to incorporate that into things as well.

Today, with IV so inflated on TSLA calls, I put on a few call BWBs when TSLA hit 1098 and they’re already at profit target so I am working on removing those. Easy money for a “still laying in bed” trade (I’m on the west coast now so yeah, it was 7:30 am :)). Pays for the upcoming WSOP tournaments, including the main event so that was a positive. I spend Nov 1-Nov 16 or so just smashing out tournaments daily. Been studying like mad to get prepped. Got a 66th out of about 750 in the WSOP 3k about 3 weeks ago and busted the rest with horrific luck (3 4% run outs to bust)

I’ve put up both my houses for sale in Cayman and Canada as we start to integrate our life more in LA. If one sells, I’ll probably remove the other from listing and go from there. Both of the houses are applying for the governor’s general award (one in Cayman and one in Canada). They’re at the Canada house photographing now. It’s so fucking sweet, I really hate that our lives changed so much that we’re not able to properly use it. But at least I spent a ton of time there this year.

The Cayman house had a ton of renovations put into it recently and it’s the one I hope sells first. It’s sweet as well but we’d just not be able to get down there often enough. Maybe when I get a plane upgrade but meh, market is hot in both places, need to take advantage of that. Nice architecture.

We’re going to gut the place we’re in now in hidden hills (it’s the most uncapped neighbourhood in CA so the potential for return is insane). We’ll redesign it in the same type of smart architecture but integrated with the neighbourhood increase it to about 8,300 square feet which should command the best return. We have plans for our final swan song house but we need to find the right tear down within the hood. We’re in love with Hidden Hills so we aren’t going to leave this neighbourhood…but finding a good place to build it will be a real challenge. There’s just not much left, and the prices have increased so much that I have fixation issues on what they were in 2020. At least while we are looking and even while it’s being constructed, we can stay in the current place. That’s the idea.

We’re not used to the sense of community that we find here, it’s like we finally found where we want to be. Awesome events consistently and a great sense of belonging. We had just attended the fair and the halloween party. My wife has made tons of new friends so all in all a great start. A few pics from that:

The rest of my year is basically WSOP, finalising my check-ride and starting IFR training. We just got back from Necker Island (got to spend a lot time with Richard Branson which was super cool). That will be the next post!

#rossoredurus #redurus #redlamborghin i#rossourus #lamborghiniurus #lamborghini #cross country #roadtrip #crosscountry #tradingforincome #trading #stt #ronbertino #tradingdominion #stt #sttbsh #stt trade #bsh trade #blackswanhedge #blackswan #tradingforaliving #lamborghino road trip #cirruslife #cirrus #sr22 #sr22t #trading #484 #488 #optionsforincome #johnlockeoptions #bearish butterfly#bearish trades #cirrussr22 #roadtrip #flighttraining #ppl #cnc3 #cykf #pplcheckride #checkride

15 thoughts on “Been a while! Recent Life and Recent Trades”

  1. Patrick I am thinking about joining the The PMTT Mastermind Group but before doing so I am trying to get some idea about the forum.
    Do members freely share their ideas/back tests/strategy details and reply to questions and try to build a community?
    Or is it primarily compensated presenters and/or sales people selling products/services?
    I believe you shared some of your trade details with The PMTT Mastermind Group on 2/17/2021. Are you compensated by PMTT?
    Do you try to answer questions directed to you in the _pmtt-mastermind slack group or do you no longer monitor that group/forum?
    Do you hold back sharing details that you feel are proprietary when presenting or answering questions?
    What is the primary value you get from being a PMTT member?

    Many Thanks
    Steven

    1. It’s a literal mastermind type group. No compensation to any members. It’s just a hashing out of ideas and people are expected to participate. I’ve given 4-5 masterminds presentations in the 4 years. Others do the same. That sort of thing. We’re furthering the OTM options space and have each others backs.

  2. Hi Steven –

    I am a MM member and have been for a little over a year. I can answer these questions. No presentation or forum post is compensated, ever. This is a collaboration where ideas are freely shared within the group. The group culture is one of rigor and integrity. You find the usual dogmas and politics, but it is the *best* I have found. By far. And it has helped me to trade better. I now trade full time because of this group.

    If Patrick doesn’t have time, there are at least five legitimately experienced people trading real size who can assist you in developing / refining your ideas. Of course there will be proprietary details that traders will want to keep to themselves, but these details are easily worked out if you put in the work. I incorporated several ideas from Patrick’s 2/17 presentation into my core model and kicked my annualized PnL up a few %…

    Get on it and good luck.

    J

  3. Hello there, came into your blog while looking up information on PMTT. I’m pretty new to options trading (spreads, IC etc) and wonder if joining PMTT would be recommended for someone new like myself.

    Thanks in advance

    1. I’d recommend it and then going thru the mastermind sessions (especially mine lol). End up in a campaign style for 488/HS3EZ and tail.

  4. In response to T&T stating: “I ain’t giving you my ONE logs, do the work yourself.” That is exactly why I cannot recommend anyone join the PMTT community as there is no “community”. Everyone can work on their own without paying for PMTT. The part which is dishonest is your many posts on this blog indicating they can learn how you trade by joining PMTT.

    I don’t judge any man by his fame, power, or money, but rather by how much he does for others. I am hopeful that one day you can look back on your life and be happy with your contributions rather than your excesses.

    1. I’ve never suggested once to join PMTT by posts. Ever. If someone asked and it was in the comment section, sure I think it’s super valuable. But it’s not an easy way out, you have to put in the work and you’re just unwilling to do so. It was a life changing MM for me but I don’t think that just anyone can develop systems from it, it took 5 years of hard work and experience which you can track since my start in 2014. It’s been a good mastermind environment for me to develop my trades and trading style.

      You’ve come in guns blazing sending me harrasing PMs and writing on these comments with accusations that are disrespectful and accusatory and straight out false, I’d look inwards and try to identify the source of your frustration, negativity and how you deal with people. I believe Ron had to kick you out of the group for the same reasons. You’re barking up the wrong tree. Good luck in the future!

  5. T&T –
    Please accept my apology if any of my PM’s were offending.
    Please post the full list of PM’s that I sent you for me and others to see. As I thought my PM just stated your risk adjusted returns from the 2021-02-17 presentation were the best I have ever seen and that I would like to see the underlying data used to compile those results so I could better understand the method and try to reproduce your results. I recall your response was something like: “sure, let me see what I have an I will get back to you”. Which you never did.

    After a few weeks I PM’d Ron and indicated I was disappointed that you (an affiliate of PMTT) was not responding and asked if there is any oversight to ensure that the material presented in PMTT was correct/accurate. He indicated there is no such oversight and was unwilling to require presenters share any of the underlying data used it their presentations. When I stated that I expected better he kicked me out.

    You are also correct that I am frustrated with all these high services which imply it is possible to make high returns when actually most people lose money. At this point in my life, I am sure that just knowing just a few discretionary rules without having a precise system is worse than knowing nothing at all. So I also agree with you that PMTT was “barking up the wrong tree”. Without precise rules and reproducible backtests most people are better off elsewhere.

    Please share here what you claim I stated which was “straight out false”. To the best of knowledge everything I have ever said to you was accurate.

  6. I’m so confused. I’m not running a service nor do I have interests. Nor is there some community here that I have to post proof too. I’m just a dude posting about my life and trades. Some people comment and that’s cool. I write when I can, but even you asked me for the group info in this thread of comments and I took what 2 months to get back to you? Shows you where my time and motives are spent. I could not care less what anyone thinks about it or PMTT. I think you have the wrong idea. I’m just recording my life via a blog. I’m not here to answer anything or provide service for anyone.

    As for proof of results. I mean, Dude. I’m audited at Grant Thornton @ 40% net / year + for 2 years and a quarter which match my personal results before that for the 2 years previous. Results are results. Doesn’t matter what anyones opinion is. It’s audited and it’s proven. And I don’t care if you think I win or lose anyways. I think you think I am part of PMTT financially and that PMTT is some service that’s there to provide you with things or some service (they really just facilitate an environment for a mastermind with member contributed content and a place to spit out ideas). No-one in that group is obligated nor is Ron to provide you with much of anything. The costs afaik are just there to facilitate the structure and framework for that.

    As for the PMs, you came on to the slack basically demanding my trading info and I was pretty taken back, like who the fuck is this guy. I gather you believed it was a service or something that I was part of and that we were there to service your needs. So when I got the feeling that you were demanding things, I just kinda fucked off, you come off extremely aggressive (especially in the comments here). It’s just a group of people in a community working together (key word working together sharing with people we trust to share with) not some service where we are obligated to share with someone that’s new and demands info. My goal with PMTT is that someone finds this blog and comes in and contributes and shares an idea that I never had. Obviously. It surely isn’t some direct financial interest 🙂

    When new people come in and demand things like it’s some kind of service is ridiculous and you’ll get met w huge resistance as you’ve experienced. It’s a collaborative thing. Not some get rich quick thing where people have to share things w/ you. I think you have the wrong impression of what this is all about and the intent.

    Anyways, pretty tilting.

  7. Sorry for the misunderstanding as I incorrectly assumed that the PMTT mastermind community with membership price of $1475 plus $30 a month would provide reproducible systems with back tests. I am grateful to Ron for allowing me to leave when I expressed my dissatisfaction.

    The reason I came to that incorrect conclusion because of the following link which claims to include backtests of the mechancial combo #1, T5, HS3 etc.
    https://university.tradingdominion.com/p/portfolio-margin-trading-tactics
    A backtest should be reproducible with the underlying data to ensure the rules are properly communicated and to identify data issues.

    Combined with some of your comments like the following.
    ” Wednesday I just finished up a mastermind presentation in the PMTT group that talked about how to deal with your trade portfolio in a crash, the BSH factory campaign and how to harvest the STT-BWB. It went well, lasted about 1.5 hours and had 155 slides. hard to talk about all this stuff on the blog as the info is protected in the group. kinda what probably makes this blog stagnate at times. I have to get creative while not divulging our IP. If it was up to me, I’d share a lot more but it’s unfair to the group.”

    When I learned that you we not just an ordinary member but an affiliate I incorrectly thought you would be actively building the PMTT community and openly sharing with others.

    Hopefully this blog post will be helpful to others so they have a better idea of what PMTT is (a course to learn about PM strategies and a few videos a month where any member can present what they are trying). It is not a fast track to learn how to manage a portfolio or even get completed systems. If someone is planning to invest years learning / testing PM strategies there are “golden nuggets” however, as this thread clearly shows don’t expect PMTT to short cut the hard work that is required to actually get high risk adjusted returns. If you are not so inclined than perhaps consider working with a professional to manage your money instead of wasting your time and money on courses to try to learn/master what really is a difficult skill that looks deceptively easy.

    1. Mostly fair, it’s not easy, creating what I did in my system took me 5 years and a piece of my humanity. Trading thru 2015, 2016, 2018 and 2020. Can be done easier and quicker with guidance and it helps having a group of smart people bouncing ideas around of which I pick and chose and developed further but by no means is there a system ready made. I can’t speak for PMTT as a business as I’m actually not affiliated in a business sense, I just link to the site to help create a community and I think it’s the best chance at making it in trading.

      I go in and out of doing a huge amount of research and testing w the help of others and then stagnate. Is what it is. It’s a mastermind coupled w a course that I think is super helpful as a tool to learn but there’s no ready made systems. But most definitely the pieces are there to develop one. Just unfortunately takes a lot of time.

      You nailed it. The videos every few weeks are is often people trying stuff out with educated paths. Many hit dead ends as I’ve done 100x and that’s how we grow.

      It is difficult. Can be done.

      1. Ps. I have 1000+ backtests. It’s what consumed me these past 7 years. My current is reproducible and quite simple on the surface. It was the path that took so long 🙂

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