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At this meetup we will have an open forum session with Al Sherbin, of Tasty Trade fame. Al will talk candidly with us about what it takes to make a living at trading the market. Al has extensive knowledge of the industry and it is rare to have an opportunity to sit down with a trader of his caliber.
Bio: ALAN SHERBIN
Highly profitable professional trader and trainer working with individual traders and startups through major firms who has extensive experience in:
• Quantitative modeling
• Trading strategies
• Online media presence.
Adept at cultivating ideas into strategies, then building the models and systems that deliver great results.
Managing Member, Al on Options, LLC, August 2013 – Present (2 months)
Founded this consulting firm to utilize extensive background in financial and marketing systems development for companies and outstanding expertise in financial markets, especially futures and options.
Director of Research, Tastytrade, May 2012 – July 2013 (1 year 3 months)
Performed as an on-air personality in addition to developing most of the content for this internet-based TV network devoted to trading topics, including all technical segment content for options and futures.
Trainer, Special Situations, Committee Chair, & Trader, PEAK6 Investments LP, February 2011 – July 2012 (1 year 6 months)
As one of three professionals, provided classroom training to new traders in options theory, use of Peak6 tools, management of a trading book, trading, styles, market awareness, and a myriad of other topics.
Managing Member, Ideas In Motion LLC, May 1998 – February 2011 (12 years 10 months)
Designed and implemented many of the quantitative models and trading systems used to trade equity and equity options and to perform quantitative risk arbitrage. Traded currencies, both as a hedge to foreign arbitrages and special situations, and as part of pairs trading and straight economic forecasting trades. Modeled opportunities via Excel with a DDE link to live data, sometimes building a more complex VBA module back-up and sometimes utilizing equities, futures, preferred, and common stock alongside of currency or commodity hedges. Traded commodities as arbitrage situations against other commodities, convertible preferred stock, and currencies.
President, ING TT&S (U.S.) Securities Inc, February 1997 – May 1998 (1 year 4 months)
For one year wait between entrepreneurial positions, worked as President of ING TT&S (U.S.) Securities, Inc. establishing for ING Amsterdam, Netherlands their Chicago, Illinois options trading start-up. Performed all activities necessary to commence operations, including designing and implementing options trading models.
PresidentSCMS Inc, March 1990 – February 1997 (7 years)
As part of a team of four traders and support staff spinning out of Tradelink, co-founded this equity index options and futures trading firm. Performed market making activities utilizing a proprietary theoretical model on the CBOE and CME floors. Oversaw the risk management of seven traders and interacted with the clearinghouse risk management department. Continuously established appropriate risk parameters based on market conditions and volume.
Staff Trader, Tradelink Corp, October 1987 – March 1990 (2 years 6 months)Greater Chicago Area
Profitably performed day-to-day market making activities in the OEX, S&P, and IBM trading pits at the CBOE and CME. Paired with an SPX trader. Eventually traded S&P options as a third portion of a risk arbitrage strategy. As one of four traders, viewed combined position summaries one to four times per hour to ascertain risk in position summary of as many as 40,000+ option contracts across two or three products. Identified opportunities to mitigate excessive global risk, seeking out trades within acceptable parameters that would extend profits while simultaneously reducing the risk of the overall portfolio.