September 15, 2011
University of North Carolina - Charlotte
TradeKing’s first Charlotte Traders Group meetup was this past Thursday, September 15th and a great time was had by all. For those of you in attendance, thanks for your support and your active participation. For those who couldn’t make it, well, I’d be lying if I said you didn’t miss out on some amazing education and conversation. But not to worry...we’ve setup this page to recap everyone on the events of the evening.
The first exciting part of the Charlotte Traders Group event is that we gave a live play-by-play of the event in Twitter. If you don't already, follow @TradeKing on Twitter. In addition to event coverage, we share a variety of trading commentary and news about TradeKing. Check us out!
Our MC for the night was TradeKing’s Director of Education Nicole Wachs. She kicked things off by helping break the ice with a simple question: “What’s a recent milestone you’ve passed in your trading?” As we walked around the room we heard a variety of responses opening an online account for the first time, to someone placing their first mulit-leg options trade. When it was all said and done, those in attendance met some new folks and received some perspective on where others in the group were in their trading expertise.
After completing our first group discussion of the evening, the stage was set for Traders’ Hall of Famer and BigTrends.com founder, Price Headley. Price gave a spirited presentation on Market reversals and led the group in some interesting discussions of ways to spot potential reversals. Price also shared with the group just how important it is to have a plan and rules in place before entering any trade. According to Price, using your own set of trading rules and sticking to your plan can help you take the emotion of our trading, while allowing you to focus on the facts at hand.
Once Price wrapped up and we came back from our short break, Nicole posed another discussion question to the group, “What’s a trading principle you heard, disregarded, and then wished you had taken to heart?” This was an interesting question because it not only made people think about their personal experiences, but it also gave some of the newer traders in the room an opportunity to learn from some of the more experience traders in attendance.
After about 10 minutes of our 2nd group discussion, TradeKing’s Sr. Options Analyst Brian Overby kicked off the 2nd half of the event. Brian’s always on top of his game when it comes to discussing the Greeks (one of his favorite topics), and it showed. Brian taught the group the importance of knowing the Greeks by starting off by giving a definition of the most basic Greek, delta. And just as soon as he showed everyone that delta represents the theoretical amount an option’s price should move for every one-point move in the underlying security, Brian gave the layman’s definition for delta: delta’s the probability that an option will finish in-the-money at expiration. Brian then used this simple explanation of delta to launch an animated discussion on the Greeks gamma and theta. The Greeks can be a tough topic for any skill level, but Brian really boiled down some tough topics into some meaningful lessons.
We closed the evening by bringing Price back up front and center to examine some more charts, while Brian provided additional feedback from an option trader’s point of view. Having Brian and Price discussing the same chart from both a stock and option trader’s point of view, really sparked some interesting questions about potential stock and option strategies for various market conditions. Unfortunately, some of these discussions had to be cut short due to time. But nevertheless, much was gained from the perspectives Price and Brian brought to the table.
After the event concluded and we had a chance to reflect on it, TradeKing was extremely happy with how things turned out…and by reading some of the comments received, it seems that everyone not only enjoyed themselves, but are hungry to have another Charlotte Traders Group Meetup soon. We don’t have any dates set just yet, but rest assured that there will be something in the future. If anyone has any comment about the event or suggestions for topics, let us know by sending an email to [email protected]. Thanks and see you next time!