One Member's Initial Experience with Trading the Road Trip Trade

Update: After we posted this announcement, we got an email from Capital Discussions co-founder Tom Nunamaker that he, and Road Trip (and Weirdor) originator Dan Harvey himself, who has been called the Supertrader of Index Condors, will be able to join in remotely for the meeting. These are people with huge world-wide reputations and documented records of consistent trading profitability, so Ryan and I are delighted to welcome their participation. You will have the opportunity to ask questions to all of Ryan, Dan and Tom.

Accordingly, Ryan and I are proposing to adjust the format a little. Ryan will still introduce the trade briefly, but we will involve Tom and Dan substantially in filling in the details, answering questions, and adding their perspectives. Ryan will make the core presentation, but I expect there will be a very enjoyable dynamic as he calls in extensive participation also from Dan and Tom along the way.

Ryan will still show his trading results, present how he finds and structures a new trade, and go into detail on several of his trades and the lessons learned. We will just have some great assistance on hand from none other than the inventor and principal practitioners of this trading strategy (who incidentally have sent along a note (http://files.meetup.com/1004673/201610-LEF-Road-Trip-Trade.pdf) updating their own results on this trade)!

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Ryan Simmen is one of our organizers and most active members. He will describe his own experience trading the Road Trip Trade, starting in March of this year, to date.

Although Ryan had extensive equity trading experience, he did not have much prior experience trading option income strategies before starting in to do so this year, so this talk should appeal to others interested in starting to trade an options strategy (especially so since this strategy does not require following the greeks explicitly - it is based more on monitoring where the market moves on the profit graph that is part of all options trading platforms).

Some of the areas that Ryan will address are:

• How he went about researching strategies to trade and how he would recommend others do so

• Why he decided on Road Trip as opposed to other well known alternatives such as M3, Weirdor, or simpler Credit Spreads

• An outline of what the Road Trip Trade is

• Step by Step Recaps in detail of some of the trades he took

• A summary of the results he achieved and discussion of why these may or may not be typical

• Some challenges he faced trading these last 8 months, how he handled them, and what changes he might make in hindsight

• What his conclusions are so far as to the soundness of the Road Trip method, and whether he might consider using a different approach at some point

The Road Trip Trade was designed by Dan Harvey (of Iron Condor trading fame) to be easier to manage than the Iron Condor, with a good expected profit, yet with less need for adjustments. The idea behind the "Road Trip" name is that it would allow the trader to take road trips away from computers for the most part (or to be busy at a job during the day). The Road Trip Trade is very popular on options discussion forums, currently perhaps more so than even John Locke's M3, although quite a few people are trading both.

After Ryan talks and we have a full round of questions and interaction, we will invite others who also trade the Road Trip or other option income strategies, or are researching them, to add their own perspectives.

After the meeting winds down after 8:30 (but by 8:45 at the latest), anyone interested is welcome to join a smaller group of us (usually 10 or so) at a nearby restaurant/tavern for an hour or so. Dave W. has reserved some places at Cameron Bar and Grill and they will be staying open late this evening.

(P.S. For anyone who wants to get strarted to get started with Road Trip even before the meeting, here is an excellent video: https://www.youtube.com/watch?v=a1gwUp9H5K0)