Wealthy Option Traders

Quote from spindr0:

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Quote from spindr0:

If acceptable by all was the metric for regulations and law, we'd be wearing pistols in holsters

Nothing is ever acceptable by everyone
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If passage of regulations and laws had to be acceptable by everybody, we'd have none and we'd have to arm ourselves. All laws make some people unhappy.

Digressing, I have to believe that there's someone on the Senate Banking, Housing & Urban Affairs Committee that has the good sense to realize the damage a 1/4 % per trade fee will do.
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I think you are meandering. Rules of the game should be always always fair for all players. No matter if it's a sport or business in general.
 
Quote from CandleStick77:


For my conclusion to what I am posting. I am a 24 year old male with alot of zeal. I know that it is possible and I also know that people have succeeded and done this. So I think to myself...... If I study hard, If I look for knowledge and gain advice and information from the people that are successful, Then I to can be successful. I believe anybody is capable of doing anything if they believe. So here I am. Now I am going to keep reading that book until I receive some replies. =)
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so we have a lot in common.

I'm a 26 yr old, and have been studying this game for a year.

keep posting here and you will learn a lot. I definitely have
 
Quote from CandleStick77:

Anyone here familiar with Wade Cook? Reguardless of the criticism he has received the man made a killing on the market. He took a fundamentalist approach to stocks with rumors of news and rumors of earnings. In application of certain times of the years when businesses have to realease information (SEC reports so on so forth) along with there taxes etc....

His conclusion came down to this. Wait for the right time of the year, Wait for the right stock, Wait for the right news on that stock. And with that opportunity you raise your chances for success to the highest rate possible. Now with ben, If you have a 2:1, or 3:1 risk ratio, 1 win will cover 2-3 losses. And if you win 90% of the time you will become wealthy.
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I've heard of Wade Cook's achievements. Personal bankruptcy. Corporate bankruptcy. SEC violations. Sued by the attorney generals of multiple states. Income tax evasion. Jail time. He should have quit while he was ahead :)
 
Quote from gkishot:

I think you are meandering. Rules of the game should be always always fair for all players. No matter if it's a sport or business in general.
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LOL. I think you missed the entire point.
 
Quote from spindr0:

I've heard of Wade Cook's achievements. Personal bankruptcy. Corporate bankruptcy. SEC violations. Sued by the attorney generals of multiple states. Income tax evasion. Jail time. He should have quit while he was ahead :)
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Its true whatever he did it caught up to him. BUT he was successful on the market. Forget all the other stuff, His tactics worked. He turned a small amount of capital into a fortune.
 
Quote from CandleStick77:

I have made a 380% return on google before (Trade got up to 480% I put stop loss in for 380% return) So I absolutely know that its possible. I have come down to a few conclusions for success on the market.
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Making those returns on single trades is definetely possible, but what is your risk? How much do you put into such trades? What is your probability of success? Are you ready to risk 50% of your portfolio on such trade?

In my opinion, selling options has much higher long term chance of success. This is based on a simple fact that options lose value every day, so putting time in your favor has a huge advantage. It can be combination of naked puts, strangles, iron condors, calendars etc. You won't make a home run, but you can make 5-7% per month with high probability of success and more consistently.
 
Quote from CandleStick77:

Its true whatever he did it caught up to him. BUT he was successful on the market. Forget all the other stuff, His tactics worked. He turned a small amount of capital into a fortune.
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Was he successful in the market or did he rack up huge fees from pumping seminars based on fraudulent claims ?

:confused:
 
Quote from gkishot:

Just curious how many contracts do you trade with 50K?
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Depends on the selected strategy. Question really is: what are my monthly profit goals? 4-5K is my goal. One cannot use the same strategy every month, for market conditions change. I have found that the key is strategy selection followed by position and money managment.
 
"Now I know there are thousands of variables to each of these. And I have been studying my ass off on a new approach to the market. Anyone here familiar with Wade Cook? Reguardless of the criticism he has received the man made a killing on the market. He took a fundamentalist approach to stocks with rumors of news and rumors of earnings. In application of certain times of the years when businesses have to realease information (SEC reports so on so forth) along with there taxes etc...."

oh no...
 

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