Staying in Perpetual Motion...
3 Responses to “Staying in Perpetual Motion”
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Beating “Doubt” Into Submiss...
3 Responses to “Beating “Doubt” Into Submission”
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craig says:
Awesome Jeff! I was thinking the same thing. How Farve alway keeps going for it no matter what,kind of reminds me of Elway also. Now go Chiefs
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Luis says:
Im facing the issue with closing position Jeff.
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Hello Jeff… am very busy watching all the videos, paper trading and studying. Your style of ‘teaching’ is excellent – easy to understand and implement. My BIGGEST trading problem has been not obeying my stops. I am improving in this area because it’s mandatory !!! I was very excited to find your site, because I was looking for specific instructions on how to trade Vertical Credit Spreads. I really believe I’ve found a home! Keep the Coaching and Profit Alerts coming as often as you see fit. Thank you. Julie Reagan P. S. Am looking forward to receiving the ‘All Star Trading Plan’…Will fax my form at the end of Oct.
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All Star of the Month...
2 Responses to “All Star of the Month”
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Bill says:
I am concerned about everything else collapsing in this world and have been looking for a way to protect what I have and make it produce enough for my future. I have been buying real estate for 30 years adn with that uncertainty nowadays I had to seek out an opportunity to fall back on and options it seems like could be it.
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Steve says:
Temporarily bearish (next few months) bullish early 2011 then bearish for a whil later 2011. If we have another – Greece, N. Korea incident, more oil problems, bearish sooner and longer.
Hard commodities will win the day eventually. Paper money will become useless. Not apoplectic just becoming more and more concerned over the world’s woes.
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All Star of the Month...
3 Responses to “All Star of the Month”
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Daniel Hunt says:
Kenneth,
Congrats!! if I had only known this when i was 21 things would be vastly different for me. Although this has been life changing for me at the ripe old age of 38, i can only imagine my life plan had I been aware of these techniques years ago. To your contunued success!!
Dan
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Tony Monk says:
Kenneth, with the attitude you have with this, I wont be surprised if you end up one of the best option sellers who ever lived. Remember that you are exactly where you are supposed to be right now. Keep that burning desire burning, you are truly inspiring because of your age. I recommend that you read the book called (the power of the subconscious mind) you will find that this book will help, it has helped create miracles in my life. There are also other very good books, but this one is a good start, trust me. Its by (Doctor Joseph Murphy)
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Steve Schmidt says:
Congratulations, Kenneth. Way to go with the positive attitude you have. My Dad also did some option trading and got me interested in the “covered call” concept many years ago. Since then I’ve studied options, traded many different strategies, enrolled in a few online courses and done fairly well. But taking JZ’s course and being a site member was one of my best decisions. I find myself using his system more and more often simply because it works consistently and is a really fun way to generate cash flow. I want to pass on this valuable info to a family member who will be graduating high school in a few years. I have great fear that with the economy being so bad, he’ll be hard pressed to find a decent job. If I can help him learn how to generate “cash flow” using credit spreads and some other trading techniques, then he’ll be “covered” and can more easily continue his education so as to qualify for some of the good job offerings in a career that he loves. Anyway, Kenneth, I wish you the best and a bright future.
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Success Requires Focus...
4 Responses to “Success Requires Focus”
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Whats funy is that poeple always want some sort of advice to where they should be or should not be in life, well you are axactly where you should be right now, just keep fowllowing the path your on now. Look for all opertunities that will lead you to your financial goel and follow that path to financial freedom, do what you love and the money will fowllow.
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Michael Cunningham says:
Never stop studying; there is always sometingg new to learn
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Brian says:
Something I’ve often told college students recently is that both of the industries I’ve worked in during my career DID NOT EXIST when I was in school (Fiber Optic communications and Networked Computing). Graduate school will give you more tools, but your imagination and enthusiasm will allow you to apply the tools in any field you find yourself in. As Jeff said, keep trading to hone your skills, go to grad school in finance/business or whatever only to help you with the analysis of opportunities to bolster your trading.
And finally, look to “a job” right now following a passion, hobby, or talent. Your trading is the goal, you can set aside money from whatever you earn, small amounts or large. If you can “sharpen your saw” as you work through your career, you will have a fulfilling life and no regrets to look back on.
All the best,
Brian -
Ken S. says:
Kenneth,
Great going on your trading, don’t quit. Here is what I follow and it works every single time. “Follow you passion and money will come.” I love trading and have become very good at it. Jeff is right, master one strategy. Know it forwards, sideways and backwards. One book that really helped me is written by Mark Douglas “Trading in the Zone” Stick with it.
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I am working on the option thing. Part of the problem in understanding the workings of the brokerages trading platforms(it would just be to easy to have a four legged entry platform with the option chain, breakeven points, and a p/l graph(which I could probably live without). Instead we have to have everything including the kitchen sink and then some. As far as the greeks go they want to make rocket science out them-ATM options are normally 50%, OTM and ITM option delta depends on ATR of the equity(volatility)(example if the equity over time does not move in price then ITM options will be almost 100% within a strike or two of the price of the equity-OTM options will be close to 10% or less within one or two strikes of the price of the equity-this is real rocket science). If a person watches the price of an equity in relation to the price of the option you will notice that most all times as the price of the equity goes up the price of the option does not follow the increase in the price of the equity-if the price of the equity is going down then the equity price falls faster then the price of the option-this up and down motion of the equity has more to do with the decrease(increase) in the time premium in the option than the passage of time(except for the guys that do calendars and the market makers figure out when all the calendar guys due there thing and then they trash the time value in the far out purchased options(LOL)). Back to the brokerages-you push credit spreads-how many brokerages allow option traders to do risk defined credit spreads-that is new account holders-beats me how many of them have new customers. I think I only know of one that allows new customers to do level four options(thinkorswim???). The last I looked at optionhouse which is suppose to one of the best they wanted $400 up front to teach level 4. And then there is an outfit wandering around that wants to charge a person in the thousands($3000 to $4000) to teach a person level four so any option brokerage will take that person on(I did not see a guarantee on their site that an option brokerage would give one of their students a level four account). And there all kinds of other option educators out in the wild(cboe website webcasts, riskdoctor.com(have you read Cottle\’s book-he states after about the third time reading it the lights just might come on), ramdomwalktrading.com(JL Lord\’s expensive books on BWB and condors-according to the index on the BWB book I can find only one section of a few pages that might mean something-have to spend the money on my cheap chevy truck before I consider spending big bucks on a book like that) and then there is Sheridan, and some outfit in San Jose, CA(more believers in the BWB), and many more-some make sense;however how much can a person do with vertical option spreads(preferably credit spreads)that cannot be put into a simple book of short duration. Sorry I am practicing my typing and in my book writing mode!!!!! PS-I have a hard time taking anything on that involves monthly subscriptions payments-just the way it is and with any course that involves credit spreads what are my chances of getting a broker to allow me to such spreads and since I am a little person at what commission cost. Someone out there in the wild blue buy Cottle\’s book and take the meat out of it and present it in an e-book that brain dead people like me can understand at a reasonable price of course(I do have parts of his book that he has let out to the public and study what is there;however I am sure it will take the whole to understand and I am working on getting the funds together to get the book from amazon(cheaper there). In the mean time I will work on the thinkorswim platform-have not figured out yet how to get to a market order-must have something to do with that little lock(LOL)!!!!
Hey Jeff,
9 years ago my wife and I decided we wanted to be financially independent in ten years. Our ten year plan, that has to be completed by the end of this year, is to purchase a yacht and sail around the world with our two young children. This journey will take 2-5 years. During this time we must generate cashflow while living on the yacht, and our assets must continue to grow.
Education was the key to achieving this. All income must be able to be made from the deck of a yacht anywhere in the world.
This year is the final part of our 10 year plan. During the first 8 years my wife and I have accumulated a large property portfolio. This built assets but not cashflow.
Year 9, last year, was for us. At the start of last year I was a couch potato! We focused on our health and also started to learn about generating cashflow from stocks and options. I lost 55lbs in 3 months and now compete in 75 mile races, racing non stop for 24hrs.
I also learned about covered calls and then collars. This started to generate us a 2-3% cashflow each month. This has now led onto spread trading and you!
I believe that we must set huge goals. You need a strategy to follow and clearly defined tactics to help you achieve the goals. I also believe that great mentors accelerate achievements. I have teamed up with mentors for each of the steps during the past 10 years.
What is the goal after the sailing? a)to be able to charter a jet aircraft whenever I want to and b) donate $100k/year to charity.
To keep my momentum up I have a clearly defined and worthwhile goal… to spend quality time with my family.
Big goals = a big life!
Thank-you so much for sharing your knowledge Jeff.
good post jeff. if i recall correctly last year at this time you said you were determined to learn how to trade forex and perhaps would add that to your teaching platform. as a result of that i have attempted to educate myself in that area but as of yet just don’t feel comfortable in this venue. based on your success in teaching option trading do we have anything to look forward to for this year with forex?