First things first… Don’t tell my wife. Second. I know what I did wrong, and it was SO many things. Third. Shake it off. I know it’s months of work gone, but I live to trade another day. It’s by far the largest loss I’ve ever had. 30% of my trading account evaporated in minutes. … Read more
Holiday time means we get to be sloth-like. And take an extended break from work to relax. But since it’s Monday, many are back to the office… or at least back to work. Also back to work is the stock market. After an optimistic opening at the bell, the indices slumped through the day. But … Read more
The relationship everyone has with money is… complicated. So when it comes to how to invest and having that money make more money. Well, that’s just adding a whole web of choices on top of the already busy maze underneath. With so many asset classes to choose from, stocks, bonds, real estate, crypto, NFT’s… the … Read more
This phrase is a common description for selling high probability defined risk options strategies like credit spreads. With high probability, the capital required and risk is extremely high compared to the reward. The two NDX credit spreads I had left open overnight from yesterday was risking $9,400 to make $600. At the time of opening … Read more
But I still manage to have extremely poor timing today. As soon as I entered a credit call spread on NDX with tomorrow’s expiration, it shot up and continued a tear for the remainder of the day. At market close, my short position is at 0.25 delta & a mere 80 points from my strike. … Read more
Today was a pretty slow day. The S&P gapped up over the weekend near the all time highs and hung out there for a while, went down a little and back up. The Federal Open Market Committee (FOMC) spoke at 2pm, but nothing happened. Overall, a very quite day. For days like this, strategies like … Read more
Today, I woke up in a good mood. It was Friday. I felt well rested. I had a good trading plan for the day. After some morning exercise, I got some coffee and waited for the 9:30 market bell. DING DING DING DING DING! Trades closed, new promising trades opened, and remaining options expired worthless … Read more
Back in my World of Warcraft days, we had a small guild of tightly knit friends (many of us are friends IRL). While there were guides online for new dungeon and raid mechanics, we had our own guild motto: learn by doing. Reading detailed step by step guides and watching strategy videos give good overview … Read more
When you hear that someone is very rich, what is your first thought? Do you think, “she probably inherited it.” Or do you think, “she probably worked hard to get to where she is.” When you see someone driving an expensive sports car, what pops into your head? “He’s probably overcompensating for something,” or, “He … Read more
Why do you hate Jeff Bezos? The answers are usually the same. Bezos has too much money There’s no arguing that the world’s wealth skew is absurd. No one NEEDS almost 200 billion USD. But two facts are true. One, when you create a business/system that brings value on a national scale, the money follows. … Read more