This week we opened the doors to our hotly anticipated Trading Labs.
They’ve been cooking for a while in the background and are finally ready for public consumption. As one of the chefs, I’m intimately familiar with the recipe and can promise they’re delicious. But don’t take my word for it. Sign up for a free trial and use your own judgment. You literally have nothing to lose.
I have big plans for Team Phoenix and want you all to be a part of it. We will be meeting every Wednesday at 3 PM EST for our one-hour sessions. I understand that some of you might not be able to be there live every week. That’s okay. It doesn’t have to cause you to miss out. Every session is recorded!
For today’s blog, I wanted to peel back the curtain and give you a taste of how I’ll be guiding my team.
I’ve taught all sorts of tactics and strategies over my 15+ year career in the financial markets. You name it and I’ve probably covered it. But I don’t trade everything in my own accounts. It’s not possible. Like you, I have a finite amount of time and capital. As such, I’ve focused on a few select strategies that best fit my personality and skillset.
The lab will allow you to look over my shoulder to see how I’m approaching the markets every week. Since TeamPhoenix is my baby, I will be able to set the agenda to whatever is most actionable each time we get together. And, to provide the most benefit, I’m zeroing in on the tactics that I’m best at.
These are the strategies that I use the most and will be focused on during our weekly discussions.
- Long Stock
- Covered Calls
- Naked Puts
- Credit Spreads
- Iron Condors
- Put Calendar Spreads
I may occasionally venture into other strategies, but these are the meat of what you’ll see illustrated. I don’t just want to generate trade ideas, though. I also want to help you succeed in managing them properly. As such, the lion’s share of our lab will be dedicated to trade management. That, more than anything, is the difference between winning and losing.
When it comes to management, nothing is more essential to my own trading than the concept of scaling in & out.
The Beauty of Scaling
Many of you have already been introduced to the power of scaling in & out. For those that need to be brought along, here are the top advantages or reasons why I love the tactic.
- It makes buying low and selling high easier.
- It increases my odds of success.
- It uses volatility and adverse movement to my advantage.
- It makes it easier to pull the trigger.
- It increases my number of trades.
- It doesn’t require you to be a perfect market timer to make money.
- It can be automated.
The main idea is I split my trades into multiple tiers. Doing so allows me to enter incrementally and add size when positions move adversely. I primarily use it when selling premium via naked puts, bull puts, and the like.
Discord Channel
We’re creating a community around TeamPhoenix using Discord. It will be a place where we can all chat throughout the week, share trade ideas, motivate each other, and otherwise enhance how we experience trading together. How I use it may evolve over time, but I’m confident it will positively augment your experience with me and the rest of the team.
You can find out more about how Discord works here.
Next Wednesday, June 30th is our first lab. I plan to cover the core trading principles behind how I invest and trade. They will lay the groundwork for all future sessions, don’t you don’t want to miss it.
Look forward to seeing you on the inside.
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