Hey Trader,
You’ve undoubtedly heard me talk about the great team we have here at Option Pit.
And there’s a reason I built this group of people around me …
Rather than trying to go it alone.
It’s because when it comes to trading … two heads are better than one.
Let me show you an example …
During one of the daily scans I do to spot powerful, influential market flows …
I noted a Big Money trade on financial giant Morgan Stanley (Ticker: MS).
This trader sold a total of 20,000 June 65-strike puts at an average price of $0.835.
All in all, they received a $1,670,000 premium from the sale …
And it sent an interesting message about a big bank stock that was otherwise generally struggling…
This block of puts sold told me that this trader felt confident that even with MS trending lower, that the shares would at minimum be finding a floor, soon …
I liked this trade. I really liked it.
Yet … something was holding me back.
I wasn’t completely confident that Big Money’s vote of confidence was enough to make my own move.
So I let it pass …
But in the weeks since, well …
It looks like I made a mistake not hopping aboard that train!
But how would I have known?!
Well, actually …
After I told Licia Leslie about my missed opportunity, she was quick (a little too quick, maybe …) to point out that had I enlisted her help in my decision …
Her candlestick expertise would have shown me that on the day Big Money made their trade, a bullish candle pattern had formed on the MS chart …
And the following day’s price action confirmed this positive change in trend …
Had we been working together on that … we would have made a nice profit indeed.
Of course, having a trading partner is good for more than just spotting good trades (or, in this case, a missed opportunity) …
It’s easy to get caught up in the emotions of trading.
I’ve been doing it professionally for more than 20 years, and I still have trades I hold for too long for one reason or another.
When you have someone who isn’t involved in the situation … whose money isn’t on the line …
It offers a cool head, a second set of eyes, and a second opinion on how to handle a trade …
And it can be a saving grace.
Take a recent trade I made on United Microelectronics Corp. (Ticker: UMC).
I spotted a Big Money trade with a sale of 44,000 10-strike puts …
I followed Big Money into this one, buying my own block of 12.5-strike calls for $0.70…
And just days later, UMC blasted higher, and I sold half of my position for $1.35!
Excellent, right?
But … I held on to the last half …
For months, I tried to make it work …
But eventually, I admitted defeat …
And instead of closing with a win – like I should have – I closed with a 10% loss.
However, once again, had I listened to Licia, I would have cashed out with maximum profits …
Because she saw a bearish shooting star on the chart, and knew then that UMC’s miraculous blast higher was about to come to a grisly end …
Once again, failing to utilize my team had cost me …
And I’ve promised to (try to) never make the same mistake again …
Which is why Licia and I are now trading together, combining our super-powers into our own supercharged trades …
It’s called Big Money Shopper, and you can get the details here.
Don’t get me wrong … it’s not only Licia that I turn to for advice.
After all, that’s why I have a full-fledged team built up around me …
Griff, who is a trading genius, especially when it comes to all things commodities, bonds, and the Fed …
Frank, for his unrivaled insight into how Washington works … and how it collides with Wall Street …
And the one and only Andrew Giovinazzi, who taught the man who taught me how to trade …
They’ve all, one by one, talked me off a trading ledge … or shown me an opportunity I would have otherwise missed.
So if you want to truly trade your best, find your own trading team.
Someone … or someones … you can trust … whose opinions you value …
Who really know their stuff.
You’ll be a better trader for it.
(Or, you know, you can always join our team as a Pro, or through Option Pit Mentoring. Give us a call during trading hours at 888-872-3301.)
Your Only Option,
Mark Sebastian