13 Minute Read

Women in Trading: GTD › Getting Things Done

October 15, 2021

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Women in Trading: GTD - Getting Things Done (Photo by Danielle MacInnes on Unsplash)

Hello Trader,

We all have our favorite isms or acronyms that we like to use or say and in today’s world there are a lot! Anything beyond lol, omg, ikr, afk, brb, I’m lost and I have to turn to google to help decipher what I am reading in a message because I cannot keep up with the meanings. There is one acronym used frequently internally with the coaches and that’s GTD which stands for Getting Things Done! Let’s face it, everyone is busy! We are busy doing this thing or that thing and the less important thing gets put last and we’ll get to it when we get to it. To some extent that approach can work however when you get to the thing that you put last often we don’t want to do it or we do it without giving it the time and attention, it may require. Now there is a difference between taking out the trash as the last item on the list versus going over your weekly budget. Both are important but one requires less effort than the other. Unless taking out the trash is assigned to a teen in your home, then that may require more effort than your weekly budget. LOL!

I sincerely hope that all things financial education is a top priority on your list. That includes preparing for your trading week and having a plan to execute based on whatever market conditions are there on any given day. Part of preparation requires you to have the right tools. If I was a contractor preparing to do a renovation on a house I know there are must-have tools that I need to get the job done and they seldom get taken out of the work van/truck or toolbox. A hammer, tape measure, nail gun, and things of that nature. Could a contractor improvise and still get things done? My guess is probably yes but it would be very difficult or rather a less of a productive day if those tools weren’t available to get things done more effectively.

The same is true for trading when it comes to getting things done. It isn’t just a matter of clicking a button and placing a trade just because you saw a chart that looks good just to check the GTD box. It’s about planning and having the proper tools to plan. One of those tools is the Tackle Theta Research spreadsheet. It’s a time saver and decision-maker all in one. It helps with the process of elimination because let’s face it, we can’t trade them all! So where does this spreadsheet come to play when it comes to the GTD process? Let us go through the check of entering new trades and find out.

New Trade Entries

  1. Start at the top of the markets
  2. Choose an investment strategy
  3. Find and ANALYZE potential candidates*******
  4. Plan the trade
  5. Manage the trade
  6. Journal each trade

There you have it! You use the spreadsheet when it’s time to analyze the trade. So here’s an example. Let’s say we are looking to place a Naked Put in the energy sector. Why the energy sector? Because of my Bias rule #2 in the Trade Identification of the spreadsheet. The potential candidates are HP, EXC, MPC, and the sector ETF, XLE. To keep things simple I used the delta rule of .25 or less and picked the number that was closest to a .25 Delta. I simply filled out the required data and my ROI numbers magically appeared. Anything RED is automatically eliminated because it does not qualify under rule #8. So automatically one’s eyes would then gravitate to the one that has the highest ROI being HP and select that and check the GTD box right? Well……yes however we are in earnings season and even though earnings on HP isn’t until 11/18 and we’d be out of the trade before the earnings date anyway, one might decide to take the road that requires less maintenance and go with the XLE instead. It’s in line with the suggested ROI and you won’t have to worry about earnings.

Naked Put Research tool (Theta Research Spreadsheet)

Either way, the point is, with the spreadsheet you have all your candidates listed and you can compare them easily and go through the process of elimination and therefore making the getting things done process more effective and with confidence that when you checked the GTD box you know it wasn’t just to check the box but that you planned and prepared for it.

Join me tonight as we will run through a couple of examples and implement the Theta Research spreadsheet if you aren’t already using it. Women In Trading Webinar Go time is at 8:30 pm est. See you there and invite a girlfriend or two.

Until next time!

Coach Em


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One Reply to “Women in Trading: GTD › Getting Things Done”

  1. MistySuggs says:

    Hi Coach Em ~ Fantastic review and explanation of the Theta Research spreadsheet.

Comments are closed.

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