Michigan Option Traders (Part 3)

What went wrong with Michigan Option Traders (MOT): the one trading group I did organize?

Aside from feeling very one-sided, I took issue with the physician’s apparent ego. Had I been able to implement his strategies then I might have stuck with the group longer. I thought he was a nice guy. He was willing to give of his time by presenting to the group (and thank goodness we had someone besides me willing to share!). He was willing to help others learn. He just never spoke of big losses especially in the rare month or two when I felt his particular strategies should have had some. Because I never saw how he fared during the roughest of times, I was not able to determine whether his approach was any better than mine: critical information I need in order to make change.

When it comes to trading (and life), losing happens and I believe we must discuss this and be prepared in order to put ourselves in a good position for longevity. I have talked about the tendency for crickets when a season of losing ensues (e.g. here, here, and here). I can’t put it any more plainly than the lyrics in Gloria Loring’s song:

     You take the good, you take the bad,
     you take them both and there you have
     The facts of life, the facts of life.

I did not feel the physician was transparent with losses and as a result, I lost confidence in him. Soon after scheduling meetings—largely monologues—lost flavor, I terminated the group.

One question I have asked myself over the last few years is whether I might gain by trying to work with him one-on-one. I have yet to make significant changes to my trading approach. I see [virtually] people having success with his strategies and I do know him personally, which should provide the trust and credibility I need in order to implement a new approach.

If it’s a matter of pride then perhaps I should swallow my own ego and go back to him for guidance especially since I believe ego has no place in trading. I really doubt my reluctance is a pride issue, though. I said in the MOT days that I wanted to morph my trading approach into something more along the lines of his. It’s also not like I have head hanging between my legs. I’m grateful to be profitable YTD despite a major drawdown in February.

I do feel as though I have little to offer in return. I’m happy to talk about my current trading approach but I don’t see why he would need it. I’m also happy to talk about other ideas I have for future trading. Because he seemed so set (maybe arrogant?) in his ways, though, I’m not sure why he would be too interested in that either. I really think he’s fine sticking with a profitable, defined-risk approach. If he’s arrogant then I would find that annoying but perhaps just something to be ignored for the sake of personal [trading] growth.

And if things are like the way they were in the MOT days then he probably wouldn’t mind or notice that I have little to offer in favor of being the center of attention once again.