Hi Peter,

I've been a member of your weekly options group for a little over a year now (username is lakehawk). I only started trading in January of 2021 when the whole GME thing happened. For some context, I was the guy who was buying it at $300 at the peak of the squeeze. But it did get me interested in learning more about the market, the greatest opportunity machine ever invented, and I went through a lot of trade services before joining your group.

I am currently a practicing anesthesiologist, so I have gone through almost 13 years of higher education and have had many teachers. I must say that you are one of the best teachers I have ever encountered, and it's clear that you have a passion for education. I really admire your ability to convey complex ideas in understandable ways.

In the most recent weekly webinar, you were explaining your thought process regarding the short covering rally on wednesday afternoon, and how you didn't cover your short positions because of the nuance you saw on the market profileA way of reading the market that recognizes either time spent or volume traded at a particular price level. A market profile can be either made up of “TPO’s” (time price opportunities), or volume. TPO’s measure how much time was spent at a particular price, while volume-based market profiles measure how much volume traded at a particular price. Generally, market profile is used in the trading of futures, especially the /ES. ShadowTrader utilizes volume based profiles.. I wanted to share part of a text that I sent to my friend who was trying to convince me that a further bull rally was imminent: (this was on Wednesday at around 3:30pm EST)

I felt so proud about this because it was one of the first times I was able to pick up on an important nuance on my own and make a decision. You've taught me a framework for looking at the marketIf ShadowTrader is initiating a position “at the market” it simply means that limit orders are not being used and the position is being entered with no regard to price. This is used much more often on more liquid Nasdaq issues. and making decisions based on MGI, and not needing to wait for someone to tell me what to do. I actually rarely do any of the official trades because my account isn't big enough yet, but what I get from your commentary is worth more than any trade service could offer.

Sorry for the long email; I was debating sending it you but when I told my girlfriend the same story, she said "you should email that guy that always talks about options and Wu Tang clan, he would be proud of you!" Hahaha.

Appreciate you Peter! You've got a lifelong subscriber.

Have a good weekend - Morgan

Hi Peter,

Wanted to share another fantastic trade I put on thanks to your teachings.

End of day Wednesday put on a 3825/3800/3760 put bwbAn abbreviation for Broken Wing Butterfly on SPX expiring today for 0.05 credit decently large size targeting the trendline on the lows. Harvested those throughout today for 1.00 - 4.00 each unit. It's brilliant how these work out if you time it correctly and pick the right levels.

Regards,James

Peter,

Spot on (as usual). I was short the /es Saw your notice @12:02pm Bought immediately.

You saved me thousands!!

Thanks, Scott H

Dear Peter,

I want to thank you for everything you have shared over the last several years. I started listening to you in 2017 and you have made a noticeable difference in my trading skillset.

I humbly appreciate your human to human and honest approach to your viewers. The hardest thing to fake is sincerity, honesty and integrity. You couldn't fake them if you tried. Regardless if you were right or wrong about the markets each week, you always maintained the spirit of integrity in your approach to your business. It was always evident that you cared about the work you did and the people you taught. This is the reason I stayed with you all of these years.

Thank you. Steven M

I had to cancel my subscription today for scheduling reasons, but I wanted to send a big THANK YOU to Peter and the team at shadowtrader.

I've found your weekly options advisory and other services immensely valuable from an educational (and monetary) standpoint.

The trade alerts pay for themselves, easily. But even if you can't follow along with them, the educational value alone is worth the price of admission.

The thing I didn't anticipate is how valuable the community of other members would be. Both from an educational standpoint (everyone learning together), but also just from a sense of community in what can be a very isolating profession.

I signed up for this month as a test and consider it a no-brainer to return when my schedule is more free.

I found today's webinar especially helpful! It's just a coincidence that I had to cancel right afterwards, since my month is over. I want to thank you for sharing so much of your knowledge and experience with us. I wish you good trading and good night. -- Phil V

Just wanted to give a huge thanks again to your incredible market insights and teachings. Know I've already said it, but for the amount you've helped me, wanted to say it again. Up until recently, I was trying all sorts of different things, but finally resolved to just focus on VWAPVolume Weighted Average Price. This exactly what the name implies. VWAP starts fresh every morning at the open and starts to calculate as the day goes on and can be printed on a chart as the day progresses. The VWAP line can be an excellent setup for daytrades. Strong stocks that are making new two day highs are often buys when price pulls back to the VWAP line. Conversely, weak stocks making new two day lows are often shorts when they rise to the VWAP line. The VWAP is most effective when charted on trading hours only and ShadowTrader is partial to the five minute chart although in theory the VWAP line should be the same no matter what timeframe chart you are on. It is common for there to be a slight discrepancy in the VWAP calculation between various charting platforms. trades based off the midnight VWAPVolume Weighted Average Price. This exactly what the name implies. VWAP starts fresh every morning at the open and starts to calculate as the day goes on and can be printed on a chart as the day progresses. The VWAP line can be an excellent setup for daytrades. Strong stocks that are making new two day highs are often buys when price pulls back to the VWAP line. Conversely, weak stocks making new two day lows are often shorts when they rise to the VWAP line. The VWAP is most effective when charted on trading hours only and ShadowTrader is partial to the five minute chart although in theory the VWAP line should be the same no matter what timeframe chart you are on. It is common for there to be a slight discrepancy in the VWAP calculation between various charting platforms.. Combining the market profileA way of reading the market that recognizes either time spent or volume traded at a particular price level. A market profile can be either made up of “TPO’s” (time price opportunities), or volume. TPO’s measure how much time was spent at a particular price, while volume-based market profiles measure how much volume traded at a particular price. Generally, market profile is used in the trading of futures, especially the /ES. ShadowTrader utilizes volume based profiles. with the quad/internals, and the 11 sectors up at the same time as well, I've been able to be much more consistent in my trades and keep losses much smaller than I used to be able to, and just be more unemotional like we were discussing in chat the other day.

Not that it's about the money, but attached my P/L snippet from the time I really started trading, and marked where I decided the only trades I was going to take were VWAPVolume Weighted Average Price. This exactly what the name implies. VWAP starts fresh every morning at the open and starts to calculate as the day goes on and can be printed on a chart as the day progresses. The VWAP line can be an excellent setup for daytrades. Strong stocks that are making new two day highs are often buys when price pulls back to the VWAP line. Conversely, weak stocks making new two day lows are often shorts when they rise to the VWAP line. The VWAP is most effective when charted on trading hours only and ShadowTrader is partial to the five minute chart although in theory the VWAP line should be the same no matter what timeframe chart you are on. It is common for there to be a slight discrepancy in the VWAP calculation between various charting platforms. trades, limiting myself to one setup, and with the exception of one bad day, have seen my results be much more consistent. Commissions eat into it since it's net, the gross results are the best I've been seeing, and I'm starting to feel like I'm on a sustainable approach to trading going forward.

Just wanted to say thanks again for the teachings and insight, I know you put a lot of work into what you do and it's appreciated and has been a huge help for myself.

Hey Peter,

No need to respond, just fyi follow-up to below.

I made $785 today on XLK call butterfly.

This was possible for three reasons: 1. you mentioned how XLK was acting today 2. Over the weekend I set-up my TOS charts to all 11 SPY Sectors (of course, market internal were all ready done) and watched XLK curling before the QQQ’s (as u noted) and 3 then, had the confidence to execute on a call butterfly a few points higher, and nailed it by EOD.



Back green

Thank you Jim

Peter,

You seem to have taught me to fish my friend. I've been on board your weekly options service for around a year. I've gone from following along with most of your trades to 80% independent trade idea generation and very consistent profitability (I still take around 20% of your trades). It's been 6 months (at least) since I've had a losing week (and that loss was tiny). AMZN far otm bwbAn abbreviation for Broken Wing Butterfly or 1x2 or TSLA 1x2 or 1x3 calls have been absurdly consistent weekly profit engines. SPX puts same story. I've even been daytrading upside otm 0 dte 1x2 or 1x3 when option premium gets overly pumped into stocks that have had a strong move up (for example, I did GME bwbAn abbreviation for Broken Wing Butterfly last Friday 215/225/340 for 0.44cr and took it off 1 hour later at 0.10db).

I look at markets completely differently thanks to your teaching. The game changer for me was when you said "there is no gravity in the markets." It was like you exploded a knowledge bomb in my head! In an instant completely changed how I approach momentum stocks. The lessons are too numerous to count. And my technical analysis has improved greatly thanks to you.

Don't get me wrong, I'm not so arrogant to believe I won't have a Lupe moment or two... just hasn't happened in size yet... and how I will adjust and maneuver when it happens still gives me some anxiety. But overall, you've elevated my trading game to the next level.

Thank you for being a generous teacher and for paying forward your own wisdom as well as that of Jim Dalton. And good on you for making your service so accessible to traders of all sizes. You are appreciated more than you know.

With gratitude, from a lifelong subscriber, -Brian W

Just wanted to say thank you. I’m a 20 year veteran of finance (Inv banking) and have been trading on and off for as long. Been trading full time for the last 3 years. I thought I understood options pretty well until your room and it’s really eye opening. I constantly run into very seasoned traders who still roll the dice with directional calls or puts and just grind it out. What an education this has been. So thank you… look forward to you pulling the next rabbit (out of the hat).

Hi Peter,

I've been a member since last November and I really like your trading style. It took me a while to think more quickly about BWB's and such, as I previously mostly traded verticals for the past year or so. I traded the wheel strategy for a while - and decided there was not enough profit in the less risky trades. Then I found your YouTube videos and here I am.

I have noticed that you are now adding a short sentiment statement to most of your alerts. That really helps me to get a sense of purpose and helps me understand each trade and general position status.

I am mostly a buy and hold portfolio manager for our family office. For a while I have been wanting to learn to be a better trader - as well as being an investor. Your operation is exactly what I was searching for.

I just wanted to thank you.

Doug

TY for all that you do! All that you do, even what you think of as premarket rambling is all great and useful to me. Today’s 10:41 comment pays for your service for the next 2 centuries.

Aka it’s not what you do, it’s what you don’t do Aka making money is easy; not losing money is hard

You completely rock!

I hope you keep providing your service for at least 5 more years!! (2 centuries would be better

Sent from my Smartphone

I am in your advisory for the wisdom you distill and not for your trades. Actually, I’ve never took on any of your weekly plays because I am not comfortable with them. But that’s okay, I know me and I know my limits.

That said, your wisdom and insight on how the market and stocks behave and why they behave that way are worth more to me than any winning trade.

So, THANK YOU! Please keep it going.

😊 John

Peter,

So my daughter (15) and I were watching the ShadowTrader Video Weekly and I explained to her how valuable your Weekly Options Advisory is to us and the knowledge you impart.

She then says, “so that’s how we can afford the Tesla”!

Thank you brother.

Mike from Reno

This is the first year that I started trading almost full time. I very rarely take your trades but I have been diligently applying your trading style and pay full attention to defense. You will be happy to know that thanks to what I learned from you, I had phenomenal success (my account up over six figures).

A huge THANKS! Have a happy 2022. Kiran (Perry) K

Peter

I'm glad that joined your advisory because what you offer, what you teach, and what you advice is honestly priceless. I hope most of your subscribers understand and appreciate the value of your advisory. I certainly do.

Saeid

Hi

I reviewed my cumulative ShadowTrader results this morning. In about 5 weeks of trading, up over $20,000. About half from Ratios and BWBs and about half from the short puts. The Ratios & BWBs deliver many small gains or scratches, and the short puts deliver fewer large chunks of gains.

In addition, I learn a lot, and very much enjoy the community.

For a willing student, the service delivers great on-the-job education.

Thank you, Greg H ghappy21@------------------

Hi Peter:

I assume your inbox runneth over and I tend to be verbose so I will intentionally focus on brevity. I will start with a sincere thank you for the service you provide. I admire your knowledge, analytical ability, and overall approach to the market. Thanks to a YouTube algorithm, I stumbled upon one of your videos in late summer. After a few weekly videos, I signed up for the PPP trial and then jumped into your Options Advisory.

I appreciate the wisdom you impart. I feel as though you have perhaps course-corrected my path a bit. I am grateful for the other members in the Chit-Chat room as well as I've learned much from them as well.

Hi Peter,

I wanted to reach out and personally thank you for your guidance and insights. I would like to start off by saying what a trade! (#764 AMZN) I held a few of the original 1/2/1's into Friday afternoon, taking them off one by one and let's just say Jay-Z showed up with Beyonce as a special guest.

I've been trading for a few years and really started to add options to my portfolio only a year ago. I've been a member of your weekly options advisory for only a few short months but feel like I've learned more in that time than I have over my short trading lifetime trying to figure the market out on my own. The way you perceive risk and see the markets via technicals just resonates very well with me and did not take long for it to really click. Not only have I made a ton of money, but more importantly I know this is the start of me becoming a different and better trader.

Thank you for what you do and looking forward to much more!

Best Regards,
James from San Jose, California

Peter,

JJB-Aptos here. Been following for years… still have (2) “Think Monkeys” from the Friday Trivia questions years ago. We are getting ole my friend. I do consider you a “virtual friend” as I have learned much over the years and am quite grateful.

Anyway, I am writing because a light bulb went on during yesterday’s post market discussion. It was the analysis/discussion on “Why Butterflies vs Vertical Puts”. I have been a longtime fan of Vertical Puts (80%+ OTM) as a vehicle for ringing the credit register. Some weeks (only a few) I feel a little guilty and greedy ringing the register on the same trade week after week. Then I remind myself of the reality that there are those 20% weeks when I risk assignment….

Your explanation that with a vertical that goes against you, there is only one option – to close with a potential loss. That the maximum profit is achieved when the trade is made and it can never get better than that. Where as a butterfly gives you that “extra leg” to “manage possibilities”. A light bulb moment!

For years, I was busy in the office (meetings, work, BS) and could not monitor my trades. With C-19, I am still working, but doing it from home and behind my work laptop (and Zoom Calls), my trading monitors are whirring away and I can be more “active”. I suspect that is the case for many of your advisory clients.

Sooo, thank-you. I hope this gives you an idea for a weekend video/training session to hone the fishing technique by comparing a few hypothetical trades (or even a few past butterflies) to demonstrate Butterflies vs Verticals..

Thanks again friend. If my travels bring me to Philly, I owe you a bottle of Stoli.

Sincerely,
John B

Peter,

I’ve started with you back in 2017 when the advisory was basically just getting started. Unfortunately I got flushed out in early 2018 because I had no risk management and was too aggressive. I took the time to study, self reflect and develop a better approach so I can at least stay in the game and now I’m much better for it. When I got back into trading last year first thing I did was rejoin your advisory which is the best thing I did for my account and continued education.

Fast forward to this summer. The collection of credit for far out of the money spreads you have been teaching us recently has taken this advisory to the next level IMO (there have actually been a number of things as well but this is most important to me). Of course there are the debit more directional trades that we have to go with given the setup as those are great opportunities, but the weekly credit collections give a solid base of income that give part time traders like me hope that one day I can quit my day job and pursue this full time as my account grows.

So I wanted to drop you an email saying thank you for all that you do. I’m excited to see what the market brings us Monday - should be an interesting next few weeks.

Thanks again,

Josh