My Trading Licks

My Trading Licks
  • Honesty
  • Quality
  • Cost
  • Support
  • Verified Trades
  • User Experience
4.7

Summary

Mike DiBari of My Trading Licks is the real deal, and an inspiration to young and old traders alike.

Through the crucible of fire and torment, this guy has traveled the path from failure to success.

He is an unconventional renaissance man that has created something totally unique. And as far as I can tell, totally unique to the trading community.

The track record of trades are in fact, the real deal. And fully verified.

Even if you do not subscribe our purchase his advisory service, the story of his success is worth a thousand trading books. A testament to will power, focus, and overcoming the fear of being unique.

Thanks for reading today’s review of My Trading Licks

What is My Trading Licks? In a nutshell, My Trading Licks is an SP500 signal service.

Before I jump into the ‘nuts and bolts’ of this review, I want to inform the audience that I have an affiliate relationship with My Trading Licks. If you purchase a subscription, TradingSchools.Org will be receiving an affiliate commission of 25% of your purchase.

All of the screamers and haters can now climb up your soap boxes and commence the verbal thrashing. But as always, this stupid blog is a massive time suck with plenty of expenses. The only way to keep these reviews (mostly negative) moving through the proverbial sewer pipe, is to form the occasional alliance which keeps the lights on.

For newer readers, you should know that I take a positive review with complete seriousness. In the past 3 years of writing reviews, there has only been a handful of positive reviews. In fact, maybe two positive reviews per year. I understand that in many instances, the life savings of many readers are ‘on the line.’ I get it. So with that being said, and being fully transparent, let’s jump into this.

Who is My Trading Licks?

My Trading Licks is a one-man operation. The owner is Mike DiBari, currently living in the New England area of the United States.

My Trading Licks is currently occupying the following web and social media profiles:

To really understand Mike DiBari, you have to first understand his back story. For nearly all of his adult life, he has been a professional musician and guitar player. He has played in numerous bands, worked in various music stores, produced lots music, teaches professionally, and is absolutely obsessed with the electric guitar.

I spent an entire afternoon watching all of his YouTube videos. The following YouTube video is a sample of Mike playing…

Why did I include this video? Is Mike DiBari being an excellent musician relevant to trading? In my opinion, it does. Being a professional guitar player takes a lifetime of practice and dedication. By watching Mike play, you get the sense that this guy is focused on mastering a particular subject.

Watch this riff of Pinball Wizard..who in the hell can play the guitar like this?

As I watched these videos, I thought to myself…what if he put this same focus into trading?

My Trading Licks Track Record of Trades

Mike DiBari posts his track record on the following linked page.

As you can see, it is quite impressive. Let’s go over a few details that I find important, and very revealing. The following is based upon a starting balance of $10k.

  • 2014 had a return of 54.97%, maximum drawdown of -1.41%, profit factor of 32.06.
  • 2015 had a return of 32.29%, maximum drawdown of -21.02%, profit factor of 1.76.
  • 2016 had a return of 30.56%, maximum drawdown of -24.27%, profit factor of 2.03.
  • As of July 14, 2017, a return of 21.3%, maximum drawdown of -1.57%, profit factor of 2.32.

What is very revealing is that Mike DiBari takes only an average of 1.8 trades per month. With extreme focus, he applies all of his energy to only a single market: SP500.

Are you starting to see the parallel between his singular focus on mastering the guitar vs. his singular focus on the SP500?

But are these trades real? My next step was to contact Mike DiBari. And I wanted to see these trades with actual brokerage statements? As you are probably already aware, plenty of people on the internet make wild exaggerations about trading performance.

During the month of June 2017, TradingSchools.Org began a series of emails and phone conversations with Mike DiBari. First things first, we notified Mike that a review would be written. So he better be able to prove these fantastical returns. To our surprise…he was completely open and honest. He simply opened the book and we were able to verify the authenticity of the performance summary. He really eats his own cooking.

As I interviewed Mike, I began to realize that he is definitely not the typical trader that I interview. He is definitely an ‘out of the box’ thinker.

Mike DiBari Trading Method

Most people enter the trading game by learning to draw charts and spot chart patterns. They will then begin applying trading indicators. At which point, they begin trading and usually lose their money. Mike is no different.

He started off just like you and I. He read all the books on technical analysis, learned to draw chart patterns, tried day trading, swing trading, the whole enchilada. And nothing worked. He knew he had to dramatically alter his course. And so everything he had purchased and learned was tossed into the trash can. He realized the hard way that the vast majority of trading products are pure nonsense. Produced by charlatans and fakes that could not profitably trade themselves. Always willing to sell the next indicator or software package to the desperate and the naive.

Mike tuned it all out. Threw it all out. And took a radical path.

In our interview, Mike described that the first thing he needed to do was completely focused on only a singular market. Become a master at one market, like playing the guitar.

And so, did he go out and purchase a backtesting program? Nope. He fired up Microsoft Excel. No charts! No fancy indicators! Just a good old fashioned spreadsheet.

And what data did he use? Here is the crazy part… volume. He created an oscillator that measures the ebbs and flow of stock market volume. That’s it.

Is there anything subjective to his method? Nope. Everything he does is backtested. From scratch, he programmed and built several trading models that specifically look for anomalies in trading volume.

Try and imagine this for a moment. Here is this professional guitar player, with no experience using Microsoft Excel, creating these trading models using only volume. Honestly, I wouldn’t even know where to start! But this goes to show the level of focus and dedication that this guy applies to something he chooses to master. He is a real renaissance man. An out of the box thinker that is comfortable moving away from the herd mentality.

Say what you will, the actual results speak for themselves.

Mike DiBari does not do ‘Educational Products’

With most vendors, they usually have an educational product. Some sort of $3,000 package to “teach you the secrets” of trading. But Mike wants nothing to do with selling that sort of stuff.

His focus is on mastering his trading by continuously programming and expanding his knowledge and expertise at only a single subject. Mastering the direction of the stock market.

Does Mike have a problem with chart patterns or trading indicators? Not at all. In our interview, he describes only having a problem with things that don’t actually work. He tested and programmed everything that he could get his hands upon. Nothing worked with consistency.

The only thing he could find that actually tested well, and stood the test of time…was raw volume.

I asked Mike to expound upon this concept, he replied “Volume cannot be gamed. It is the truest expression of crowd psychology. And the only way to beat the stock market is to do exactly the opposite of what the crowd is doing.”

Sounds so damn easy. But so hard to actually pull off. We have all been there. Piling into a trade when the chart looks so inviting. Only to quickly discover that the chart pattern was just a mirage, a figment of our imagination. A byproduct of a flaw within the human mind…its something called Apophenia or Patternicity.

These flaws work great for a caveman or a homeless person. But are absolutely terrible when applied to financial markets.

That’s what Mike focuses upon. Building models that define ‘group think’ in financial markets, and then exploiting the tendency for crowds to be wrong.

Wrapping Things Up

In an earlier part of this article, I included a link to Mike DiBari playing the guitar. Specifically, the riff of The Who’s Pinball Wizard.

I included that riff specifically, not to highlight Mike DiBari’s guitar mastery. Instead, I want the reader to understand the underlying meaning and how this relates to trading.

If you remember, the Pinball Wizard was a character from the rock opera movie, Tommy.

The story of Tommy is about a young boy that witnesses his mother being murdered by his abusive stepfather. Young Tommy goes into complete shock. He becomes “deaf, dumb, and blind” to the world around him. Eventually, Tommy stumbles onto a pinball machine and discovers that he is a natural prodigy. Fame and fortune follow as Tommy becomes a world champion pinball player.

Nobody could understand how this “deaf, dumb, and blind kid” could become a master at something that required such intense skill. But the secret to Tommy’s ability was not in his ability to master ‘what worked’ for everyone else. The secret was his ability to drown out the noise of the crowd. The ability to see the world through his own personal, and unique lens. A perspective born from pain and disappointment.

This is what makes Mike DiBari a special trader. He has discovered that by throwing out everything he learned from ‘the crowd’ and then ultimately creating something truly unique…the market has rewarded him.

This is the true lesson. You must be an original thinker. Thanks for reading. I will leave you with the original The Who: Pinball Wizard…time to turn up the speakers.

 

 

 

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39 Comments on "My Trading Licks"

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KashifNawaz
Guest
KashifNawaz

I have no experience in options. Does this system useful for simple forex users (sell/buy)?

RobR
Guest
With so few trades it won’t be hard to plot each one on a SPY chart and get a sense of his strategy and whether or not any of the critiques lobbed at him are fair. Just a cursory look and it is clear he’s buying lots of time on his options, and exiting well before they expire. This takes care of a lot of the decay problem. I also noticed one trade where he exited one Call option trade that had more than 3 weeks left to expiration, and the next day bought a new Call option with 3… Read more »
sun
Guest

Holy cow this guy barely trades. I mean there are months where he placed 1 trade or no trade at all.

Isn’t paying him $90/month is going to be like a bigger spread/commission?

Rob B
Guest
When I read this my first though is a person that can beat the S&P by trading the SPY I am interested. Then of course my 2nd thought is why would GS not hire him and pay him a fortune. Then I go to his site and look at his trade history and I get the answer. You did not think it might be important to mention he is trading OPTIONS. Mostly call options in a what has been a bull market with very few pullbacks. Let me ask you if you take all your savings and buy an option… Read more »
dtchum
Guest

Perhaps you being challenged and called out by 3 unique people besides me in the past few hours will make you realize that being a sanctimonious arrogant know it all jerk is not a good way to go. Face it you are just another failed losing trader like the rest of us, or else you would not be spending so much time on this site — vainly trying to be regarded as a trading expert. Check your ego, lose the strut and maybe people will come around to you.

Rob B
Guest
Dtchump, I really do not know why I waste my time responding to you and your willfully stupid post. If I agree with Emmett you post I am a Yes man and if I do not you post equally ridiculous comments. As for being “called out”, what are you talking about? Did you even go to school? Are you aware of the concept of intelligent debating and making arguments for your case. I outlined my position and my reasons for it. I love to hear from other sides that disagree with me by making an intelligent argument. And I think… Read more »
Stray Dog
Guest

To be, or not to be–that is the question:
Whether ’tis nobler in the mind to be a
sanctimonious arrogant know it all jerk
with a stellar reputation for thoughtful comments
Or to be a whiney little bitch who contributes
nothing to the discussion, refuses to take
responsibility for his own actions and blames
others for his failures, ay, there’s the rub.

Jay
Guest

Yip. Very good point about the trend of the mkt and only using SPY calls. I can’t see this not blowing up when the market does finally sell off or break the trend and trade sideways or down.

Cyn
Guest
You say, “Let me ask you if you take all your savings and buy an option and you get a quick large drop in the market what just happened to your savings. GONE!” Well, that would happen if you bought stock too with all your savings. No different. Risky behaviour is risky behaviour, and putting your entire account into one position is risky, no matter what your instrument. Whatever one trades, one must manage their money with proper risk controls. Options have many uses, including speculation. Just like stocks have many uses, and do not always need to be an… Read more »
Rob B
Guest
Cyn, There are lots of uses for options. No argument there and even Buffett uses them as all great investors do, but they did not make their wealth via option trading. Can anyone name a great investor that got his wealth trading option. There have been numerous studies about option trading and the results. Here is the difference IMHO and take it for want it is worth on a straight up owning stocks vs owning call options and you get a large market correction. You have all your saving in stock own stocks and get a 30% market drop. This… Read more »
Cyn
Guest
Take any real stock or ETF, specify the size of the account that is to be all in. I will demonstrate how a properly sized long ATM options position would be better off in a 30% selloff. To wit, the options are leveraged, so the options position that matches the stock position is not the money outlay, but the shares controlled. THEY are what must be equivalent, and so, properly sized, the options trader would actually still be mostly in cash if his position is controlling the same number of shares as the stock trader bought. If instead, the options… Read more »
Rob B
Guest
Cyn, This blog would be so much better off if we could have honest discussion about topics, without certain poster just attacking with no arguments to be made. I think that makes some poster even reluctant to post. Really , Emmett if you want this blog to be taken seriously you have to step up to the plate and delete or bump down post that have nothing to do with the topic, but sole’s purpose is to bait another person. No one wants to read Dtchump’s post, his alias’s post or me replying to his nonsense. First I want to… Read more »
Cyn
Guest
My mentor, and now friend, Osikani, used to post here, but says that he left in disgust when he was massively voted down on a post where he talked about risk. I may suffer the same fate, but for what it is worth, many years ago, he wrote some guest posts to a now (defunct?) blog, to which he pointed me in the early days of our relationship. These posts discussed position sizing and options pricing relating to stocks/ETFs, and illustrate some of what I am saying here. Rather than just copy and paste, I will post the links, especially… Read more »
Cyn
Guest

Vote me down all you want. I am not leaving. So there!

If you are too stupid to understand risk, the market will blow you up, and good riddance to your stupidity.

Cyn
Guest
“You are stating, and correct me if I am wrong, that options are more risky so you will invest only a small part of the $10K.”, you say. Not quite. Agreed that higher leverage almost always means higher risk, even if it also means higher potential reward. But what I was saying is not because options are riskier, but because being overleveraged is in itself risky, and money parity would mean that the options trader would be in control of more shares than the stock trader. We should be comparing like situations as to the number of shares under control… Read more »
Rob B
Guest
Cyn, I agree with everything you said and I still agree with everything I said, which makes me think I did a bad job in explaining my position. The point I was basically trying to make is you cannot evaluate a service like this in a small fluff article. It takes an in depth analysis in order to determine the true risk .vs Return on Equity, which I think we both agree with. I felt this article gave the impression you can get 50% returns without showing the leverage and additional risk associated with that leverage. Also I think to… Read more »
Cyn
Guest
There is nothing in this post with which I can disagree. You have made the points very well, and they pretty much are a fuller explanation of what we have been saying from different viewpoints. I was simply trying to clarify that the blanket statement that options are inherently a more risky investment vehicle may be overstated, and then tried to show that options must be used properly, and when so used, are not the scary instruments that they are made out to be. All investments carry risk. Like all investment vehicles, they can be used in a manner so… Read more »
Cyn
Guest

Maybe the statement got lost in the verbiage. The point is that anyone having all of one’s savings in stocks, or options, or anything that has an element of speculation involved, is itself the risky behaviour. “Risk” is what has to be managed, no matter the investment or speculation vehicle. Stocks, bonds, options, commodities, real estate, it does not matter. One can invest in a safe or risky manner. Being all in with one’s savings is not what needs to be examined. ANYTHING used in a risky manner is asking to get creamed.

Tom Martin
Guest

@Rob B…how do you arrive at the conclusion trading options are “high risk”? Anytime I can enter a trade with a fixed amount lose, there’s no risk involved. Based on the size of my portfolio, I make the decision how much I’m comfortable loosing on any given trade. Then the trade either works or it doesn’t. It would only become “high risk” if you risked more of your portfolio than you should have. But that has nothing to do with the overall evaluation of this company and trading options in general.

Rob B
Guest

“there’s no risk involved” I wish I could find such a trade. As I stated above option trading can be part of an overall investment strategy. I do it all the time. But if you are only trading options with all your savings then that is high risk by an definition as you have 100% of your saving in options that expire.

My only point is go into this eyes wide open and realize both upside and downside risk of trading options.

dtchum
Guest

Tom & Cyn – nice to see someone besides me complain about and question the self anointed Deputy Sheriff (a wannabe Emmett). The fact is he will never be satisfied with any review here – especially on a trading room where he has no financial interest. So his modus operandi is to bash everything — which reflects his own losing experience.

Stray Dog
Guest
dtchum, AKA dtchump, if you read Tom and Cyn’s reply to Rob B’s comment the tone contained no animosity they were able to challenge his opinion and state their own in a measured and mature way. By doing this, their comments added to the discussion about the service that has been reviewed. Your motives for your post are transparent to anyone who reads the comments here regularly. You lack the intellectual capacity to spar with Rob B in the comments so you lash out. By doing this you are only reinforcing the opinion that many regular contributors to this blog… Read more »
Rob B
Guest
Why can I do not just be able to have intelligent argument with posters like you. I have to comment on something you post as I tell people this all the time: “as stops for stocks are executed at market price and that price can be lower than the stop price you set” I have people tell me how the stop order will protect them and I say that is on paper only and if you get a flash crash that stop is worthless. That statement you made is the worth the price of admission and I hope others realize… Read more »
Rob B
Guest
DTchump, I respectively responded to poster that made thoughtful comments. As unusual you add no value or make no valuable points. Your only purpose in life is to attack other poster. I doubt you even know what an option is or ever traded one. BTW what a stupid comment, “The fact is he will never be satisfied with any review here” Gee have you ever even read my comments on most of the reviews. You are beyond idiot! Again just complete Fake News. Do you work for CNN?? Once in your life try and post something useful. Gee post a… Read more »
Chuck R
Guest

Rob

I do respect your opinions and have enjoyed many of your past post’s
but I don’t think CNN and fake news has anything to do with this.

Your unrelentful admiration of Trump though is kinda disappointing as I always thought of you as an intelligent person unlike Trump and his uneducated base of white trash, southern redneck racists who are still pissed off that slavery has been abolished. Hopefully your’e not part of that.

Mike M
Guest
I never read a post where Rob got political. I am not sure which reference you are referring to. Unless I missed something, I haven’t seen it. Also, I happen to agree with Rob. IMO, options can be riskier. The time decay alone can be a problem especially for a beginner. Now of course if you are in and out that wouldn’t be a problem, but if I’m not mistaken this trader doesn’t trade that way, more power to him. For a beginner especially there is much more to contemplate when trading options. I believe one must really have a… Read more »
Rob B
Guest
Chuck R, I also cannot help but notice your writing style is very similar to DTchump’s, who has a history of making up alias to make it look like others are agreeing with him and voting down those poster’s post. You take words complete out of context and then make wild accusation as if they are fact and you never posted a single fact about options, the article, or made a single counter point to my comments about options, which is exactly what Dtchump does. This is the problem with a non membership site, where anyone can just make up… Read more »
Rob B
Guest
Chuck R If you disagree, then certainly make an argument about which specific point you disagree with. It is great to have more than one opinion on this topic. Maybe you have experience with trading options that might want to share. I think taking X dollars in investing in a options, a derivative product, is inherently more risky that investing the same X dollars in the underlying stock. “Your unrelentful admiration of Trump ” I am not aware I have ever stated my opinion on Trump. This is not about politics. That response was a reply to a specific poster… Read more »
Mike M
Guest

When has Rob ever slanted his trading views with political views? No one likes to hear the truth but options create a whole new risk factor , time where your investment can go to zero. This depends on option type and strategy. His trepidation is just an honest question of what is the exposure. He is asking for more details, just smart imho.

J G
Guest

Thanks for the review, Emmett. Does this also work for bear markets?

Goagal
Guest

What would stop him from using puts instead of calls in a bear market?

Kenneth
Guest

the problem lying in identifying if its one or other.

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