Michigan Option Traders (Part 2)

I have now given myself permission to organize a premium trading group on Meetup.com. Before I go forth, I think it would helpful to go back and review where I have already been in this space beginning with Michigan Option Traders (MOT).

I touched upon my previous experience organizing trading groups here.

Although it did not last, MOT accomplished a few positive things. I scheduled and led meetings that we worked collectively to plan. We discussed trading and provided feedback to each other. We monitored and discussed some group trades. We went to a trading show (TD Market Drive) at the Detroit Ren Cen in 2015 [unfortunately we carpooled and someone—you know who you are—had to leave early, which kept us from the food and spirits afterward. No hard feelings though, really! 🙂 ]. As far as trading goes, I had as much fun with this group as I have described most anywhere else in this blog.

MOT fell a bit short with regard to achieving a true “give and take” between all members. Most members were beginners who did small trades [schedule permitting]. One member did not trade [but was great for technical support and group morale]. In terms of number and diversity of strategy, the physician was the biggest trader in the group. More on him in a moment.

Despite being the biggest trader in the group with regard to notional risk, I did not share a great deal due to my risky trading approach. I think my trading has a finite place but only for advanced traders capable of fully understanding overall portfolio implications. I tried to get everyone to at least say a sentence or two during each meeting about what they were trading now. When it was my turn, I usually capped it there—especially because I hoped my future trading would look more like the physican’s approach than my own.

With hopes of a more even give-and-take between everyone, then, I somewhat disqualified one of the two big traders in the group. Beginners seemed content listening to either advanced trader, the physician liked to hear himself talk, and even my preference was to hear him speak rather than doing the talking myself. Heavy disclaimers about my trading approach (scare tactics, almost) were probably icing on the cake. Over the course of many months, we went from being MOT to being the physician’s group.

I will continue next time.