My Thoughts on Trading Going Into President’s Day Weekend

Posted On February 18, 2022 12:41 pm

After some very busy weeks, I’m looking forward to a 3-day reprieve, thanks to the President’s Day weekend that’ll keep the markets closed on Monday. 

I’ll be meeting up with my daughter in Washington D.C. for a day and then spend some time on the road driving down to North Carolina.  It may seem odd for me to break from the information stream regarding Russia, the Fed, shifting Covid policy, to head directly into the belly of the beast, or more accurately, the fire hose nozzle. 

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I’m sure we’ll take in some landmarks and discuss the history of how this great country arrived at its current state. But, the main purpose of my daughter’s trip is for us to tour a few college campuses, and maybe sit in on some classes. I’ll try not to let my own opinions, especially from a cost-benefit point of view, affect her thought process. 

No matter what my thoughts on an individual school or university are, my overriding belief is that education is crucial to a successful career and personal happiness. However, for education to be truly valuable, you must also take action.  This applies to hard sciences as much as simple daily routines and casual conversions. 

Just as in your schooling, one wants to hear from disparate voices among various subjects. Ultimately, you may choose to specialize or become an expert on one topic, but having a broad base of knowledge is invaluable. However, likely the single most important thing is finding a teacher or mentor you can trust. This should lead to many “aha” moments that spur your desire to learn and do more. 

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I’d like to think Options360 has provided members with many “aha” moments and positive reinforcements, in terms of consistent profits, and a trading knowledge quest. 

Over 80% of Options360 members have been with me for over four years.  It would be cliche, and something of a humblebrag, for me to say I learn just as much from them as they do from me. But, it’s a symbiotic relationship where their questions, and sometimes suggestions, make me view a stock or specific position from a fresh angle. I’d never be dismissive of a member’s market view or how they approach a specific trade. The most important thing I can do is listen — and if need be – highlight risk pitfalls they might be unaware of and work together to find a strategy that’ll produce a better outcome. 

I wish those Washington D.C. politicians, and those throughout the world would approach their jobs in a similar fashion.   

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About author

Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.