Strategic Adjustments and Performance Review in a Volatile Market
• Trading Updates and Results: Ernie discusses recent trades, including outcomes and the current status of SPX and NDX trades set to expire. He mentions putting on new trades for the next day and reflects on the fluctuating pricing of these trades.
• Monthly Performance Review: The meeting includes a review of the past month’s trading performance. Ernie shares his financial gains from the new trading strategy, aiming for a 60% annual return based on the current performance metrics.
• Technical Difficulties and Screen Sharing: There’s a brief interaction about technical issues with screen sharing during the meeting, highlighting the importance of clear communication in virtual settings.
• Strategic Financial Insights: Discussion about the importance of risk management, with Ernie explaining his approach to keeping drawdowns low and focusing on high returns relative to risks taken.
• Interactive Broker Account Setup: Ernie talks about setting up a new trading account with Interactive Brokers, intending to provide better support for members using this platform, especially those in Canada.
• Training and Learning: The meeting emphasizes continuous learning and adaptation, with Ernie encouraging members to log and review their trades as a way to improve their trading strategies continuously.
Summary
During this daily trading meeting, Ernie shared updates on his current trades and discussed the financial performance of his new trading strategy, which aims for significant annual returns. He tackled some technical issues related to screen sharing, ensuring all participants could follow along with his presentation. The discussion also covered strategic financial management, focusing on minimizing risks while maximizing returns, and the importance of logging and reviewing trades to refine strategies. Additionally, Ernie introduced plans to set up a new account with Interactive Brokers to support Canadian members better. The session underscored the importance of adaptability and continuous learning in trading.