2. Doug Robertson Instructor Intermediate to Advanced Instruction

3. The Goal
Take intermediate level traders who have experience and options trading skills and teach them the tools, techniques and thought processes that will take them to an advanced trading level.

4. What is an Intermediate Trader?
An intermediate level trader is
Comfortable executing 3 or more different trading strategies
Understands the concepts of Options Pricing
Can discuss (argue) the pros and cons of a handful (or more) different trades
Is comfortable executing and managing their positions
Understands the impact Implied Volatility and Time have on their trades
…and would like to get better at all these things

5. Intermediate Mindset Tactical Approach
Start with a trade then find the symbol
I want to find a good Iron Condor
Lets do some Bull Put Spreads

6. Intermediate Mindset Limited Toolkit Iron Condor or Bull Put Spread
or Straddle or …

7. Intermediate Mindset
Focused on Opportunity or Strategy and a little on Risk
Also think Risk is a Bad Thing

8. Intermediate Mindset
Focused on the Trade and not the Portfolio

9. The Advanced Mindset Find Opportunities then Trade them into a Profit
Find situations that give you an Edge
Always look for the odd and interesting in the market (Hmmm = $$$$)
Read the market - other peoples uncertainty is your Edge
Fear, Uncertainty and Greed vs. Reality defines the trade

10. The Advanced Mindset Risk is Good
You know what side of the risk to take
You Engineer the risk to Your Advantage

11. The Advanced Mindset Options give you unlimited tactics
You can create almost any trade from options
All options trades are derived from basic principles

12. The Advanced Mindset Understand your Edge in Every Trade
Analyze the trade from the point of view of winning and losing
Calculate expectancy based on a variety of possible outcomes

13. The Advanced Mindset The Portfolio is more important than the Trade
Constructing a profitable and safe portfolio is far more important than having one trade win.
Diversify your portfolio with different Symbols AND Tactics
Create a balanced portfolio using the Greeks

14. What’s the Plan? 8 Classes focused on a variety of Advanced Topics
Each Class will build on the previous topic
We will start with Three Conceptual Classes
Trading Methodology
Using the Greeks
Engineering the Trade
Next we will take 3 classes to analyze Specific Trade Tactics
Class 7 will focus on Exits and Adjustments
Class 8 will be on Portfolio Management

15. What to Expect
When possible we will be doing hands on analysis and calculations in spreadsheets. Having a copy of Excel 2010 is recommended.
We will be doing some practical examples, but our focus will be on learning and understanding, not trade generation.
All spreadsheets and materials used in these classes will be available online to participants.

16. First Steps
This class series is designed to open your mind and teach you ways to become a better trader, but the process doesn’t stop when the class is over. The concepts are difficult and mastery requires focus and continuing effort. The best traders are always learning new things and exploring new ideas.