Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
My first post in this Options & CFD thread, and looking forward to helping many of you see a safe and consistent way to trade options.
Hang on, and get ready...
Kevin
(Any questions specifically related to my website, please send me a private message only.)
"Obstacles are those frightful things you see when you take your eyes off your goal." -- Henry Ford
Can you help answer these questions from other members on NexusFi?
I plan on posting here regularly, however, not quite on a daily basis. Too many other time bandits at the moment, sorry.
Good things will come, so hang in there. I do not daytrade, and hold positions sometimes for several weeks at a time, but never overlapping trades. 12 trades a year, thats it. A moderate understanding of options and how they behave is a good starting point. Long Calls, Long Puts, Short Straddles, etc, etc.
My plan on this forum is from more of a psychological, and risk management perspective, and treating this entire game as a business instead of gambling.
I appreciate the eagerness!
Kevin
(Any questions specifically related to my website, please send me a private message only.)
"Obstacles are those frightful things you see when you take your eyes off your goal." -- Henry Ford
Simple question right, but please do not underestimate the importance of being honest with yourself when you answer it. I believe that the true secret lies in this simple question.
Of course the logical answer is “I trade to make money”. But, is it really? I mean really really? If the bottom line in this entire game is to make more profit at the end of the year, net winners > net losers, (regardless of what money management style you subscribe to), then what does it really matter how or with what method you accomplish that? The difficulty is most (if not all traders) say “I want to make money”, and then yet proceed to repeat destructive behaviors over and over again, that inevitably lose more than they make. The key discovery will be once you find what type of trading speaks to you personally, and then intently listen, and practice honing it to a craft that can be repeated over and over and over again, even while you sleep. Know it like the back of your hand. Intimately. Personally. Unique only to you. Trust me, the market IS going to give you exactly what you want, unfortunately, the problem is most traders do not really know what they want. Endless methods are used successfully across all markets, all underlyings, all timeframes, and they can ALL make money. If you do not recognize this, or accept this, then my friend, I hate to burst the bubble, but consistency and success will always elude you.
Yes, the correct answer could be “to make money”, but peel one more layer back and discover that in the process of trying “to make money”, you had better be learning more about yourself and your own psyche in the process. If you master yourself, then the money becomes less and less significant? I mean come on, face it, what good is making 10 gazillion dollars trading if you learn nothing about yourself along the way. VS. the trader who trades to learn about him/herself in the process and simultaneously makes money along the way. Odds certainly favor the latter trader, and we are in a game surrounded by nothing but odds, are we not? The best traders I have ever met along the way, respond the same way; “I trade because I love learning, learning about myself, learning about the markets, and learning how to help others.” Period, end of story. Money is usually seldom discussed.
Constant dialogue goes on and on and on about FEAR vs. GREED. If you blatantly refuse to make trading personal and intimately about yourself (no one else) how on earth do you ever plan on making it past all the FEAR & GREED that is ever present. Sometimes the fear is nothing more than paper tigers we create for ourself. How better to deal with that perceived fear, than by first learning about yourself.
Apologies for rambling, but so many traders continue to struggle needlessly, when the secret is right under their noses the whole time.
More to follow if there is interest here.
Kevin
(Any questions specifically related to my website, please send me a private message only.)
"Obstacles are those frightful things you see when you take your eyes off your goal." -- Henry Ford
Has it truly been 9 mos ago since I posted here? I greatly apologize for that, and will make a definite effort to post up more content relating to options education. It just seems that there is so much "education" available, and very few "traders" actually making money trading, that my focus has somewhat shifted the last couple of years.
My site has received a complete overhaul in the last few months, and the focus is keeping things as simple as possible, as clean as possible. Paralysis by analysis has always been one of my demons I battle, and not until I finished reading the last couple of trading books, did I really begin questioning if all my time spent analyzing charts was worth it in the long run. Focus on what is controllable - perfect risk management, and relentless detail to proper position sizing. Beyond that, find a method, and stick to honing the craft trading.
Kevin
(Any questions specifically related to my website, please send me a private message only.)
"Obstacles are those frightful things you see when you take your eyes off your goal." -- Henry Ford