Day 2: Market Rebellion Trading Conference Recap

Day 2 is in the books! This capped a tremendous conference in Las Vegas where we tackled some of the best risk management, trading, options, crypto advice that you could hear in one space.

In case you missed it, we wanted to pull some of the highlights of the day and share them. So here we go.

Robert Irvine: Need a purpose greater than yourself

Robert Irvine, the famous celebrity chef, television personality, and entrepreneur, said that his goal when he first started was to get Robert Irvine rich and famous. That was a bad idea. Now, he focuses on his foundation, which helps support our military, (active, retired, and veterans), first responders, their families, and those in need through resiliency, health, and wellness programs. Every bit of what he does is focused on supporting those efforts.

And that purpose gives him energy, buoys his discipline, and helps him focus on the long term.  In fact, Irvine noted that everything he does is focused on five years from now. That causes him to set ambitious, yet attainable goals.

Bill Johnson: The hidden dangers in your options positions

Bill Johnson’s talk on dangers in trading was eye opening for many in the crowd. He broke down options positions into their component parts in order to uncover what lies beneath the surface. By defining a danger as the act of accepting risk for little (or no) reward, Bill Johnson challenged the audience to expand their understanding of risk management.

An example: a $100/110 vertical call spread is actually two separate call spreads… the $100/105 and the $105/110. It is very possible that a stock price could move to levels where the only benefit is held in the $105/110 spread, while the $100/105 contains only risk. At that point, it would be a danger to not close out the lower spread.

Pete Najarian: Find what it is that you feel most comfortable with

There are more ideas and opportunities in the market than any one person can take advantage of. The best way to take advantage in the market is by coming up with a process to filter them out. To do that, you need to answer the following:

• What do you know best? What interests you? The bottom line is that you have to have an interest in what you’re doing. If you don’t, then you are not going to get past the ups and downs of the market.
• What is the most consistent theme out there? Sometimes themes are the best way to get involved in a market. This year, that’s been financials or energy. When we see opportunities with names in those sectors, then it makes more and more sense that this is a trend in the market worth following.
• What’s the size of the trade (for UOA)? The larger the trade, the better. This means that someone is putting big dollars behind an idea. That allows us to