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‘It’s good to scare yourself’: Options game winner says embracing change is key to success

They say change is the spice of life but for Cam Blakemore, the latest winner of the ASX Tradefloor options game, it’s also an opportunity to trade.
They say change is the spice of life but for Cam Blakemore, the latest winner of the ASX Tradefloor options game, it’s also an opportunity to trade. In the space of four weeks, Mr Blakemore managed to turn his original $50,000 investment into an impressive $284,157.28 – a return of 468.31%. Speaking to Reach Markets, Mr Blakemore attributed his success to his ability to remain disciplined, while also embracing change and moving outside his usual comfort zone.   When did you start trading? /  What/who got you into it?  My interest in the markets started at a pretty young age, around 15 years old back in 1994. I managed to snag a few weeks’ work placement on the floor of the SFE as a rouseabout. I didn’t realize till much later in life how lucky I was to get that experience.  I kicked on after high school and worked for a few stockbrokers (ranging from a few start-ups to a big investment bank), doing about 14 years in total, working mostly in operations, risk and business development.  Trading kicked in pretty quick when joining these brokers, pretty much all on speculative equity with some derivatives.    What did you think of the Implied Volatility trading platform?  It’s a great platform and makes trading options so much easier – it would have been very helpful if this was available 20 years ago, it would have saved me plenty of time and money.  The cookbook, along with the company rankings, is the best feature of the platform.    Why did you start trading?  I love a good story and the thought of being able to ride on the coattails of some of these companies and make some money along the way excited me.  Most of my early trades were like everyone else’s firsts – getting suckered into something that was never going to see the light of day. These were all good learning experiences, and I lost plenty along the way.    What do you hope to achieve?  When you get old and age, your hopes for the future change. I’ve noticed since I began to care less about material possessions and wealth, my performance in trading has progressed out of sight.  
My hopes are to be consistent and maybe pass on my trading skills to the kids when they get older.
  What are your trading goals?     My goals would be to develop a better understanding of the mechanics around derivatives and how they play an important role in the markets. Sizing up in different markets is also something I need to work on better (my risk hat is sometimes worn a little too often).   Is there anything you are focused on improving on?  I’m working on automating my ideas and scans so I am spending less time staring at the screen, but without losing too much discretion on the trades. It’s that mix of the feel for the trade and what the computer is telling you to do, it can be very annoying when one eats into the other.    Are there any books or courses you’ve completed that you would recommend?  For options trading, Guy Cohen has written some great books (which are a few decades old now).  The Bible of Options Strategies is great.  It’s important to be respectful of all approaches to trading and never dispel some of these theories. From simple TA, FA to Gann (Astro), Elliott Wave, Fibonacci’s, Candle Stick, Market Profile, VSA, I think having a bit of an understanding and learning about each can go a long way to how you formulate your views of the market.   
Never stop learning or reading is my key takeaway, and the internet is blessed with so much information. 
  What’s your approach to picking direction and what sort of strategies do you use?  Trend breakouts are still a major key to picking that next trade, both on the upside and downside.  The pull-back and consolidation after a run up and then breaking that high is one the best spots I like to get in at.  I’m still a sucker for picking bottoms but it tends to never work out well. Exiting on a 21 EMA or 41 EMA works for me.  A mixture of fundamentals is still important in picking stocks, too, along with strong volumes and overall good sentiment.    What do you think the secret to success is?  
Be disciplined, set goals, have consistency, and be prepared to make sacrifices. 
  Making change is good, it’s important to scare yourself a little sometimes and push yourself out of your comfort zone.      We would like to thank Cam for his participation. If you would like to try trading for yourself you can do so by taking a trial to our Implied Volatility platform.   Past performance is not a reliable indicator of future performance. Trading options is not suitable for everyone. There is a risk that you can lose more than the value of a trade or its underlying assets. You should only trade if you are confident that you fully understand what you are doing. If you are thinking about acquiring a financial product, you should consult our Financial Services Guide (FSG) at www.reachmarkets.com.au first.    

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