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Maniac Trader Revealed…

Maniac Trader Revealed…

Posted On November 21, 2020 10:00 am
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You probably know by now that I have been around the market all of my life.  

My father was a broker-dealer, and I started working as a runner for him during the summer when I was 12 years old. 

I wasn’t deeply involved in the precise trades he made.  

But as I got older and took more of an interest in the business, I got a general idea about his strategy and what kinds of positions he took.  

For example, in 1980-’81, when Volker jacked the Federal Funds rate up to 20%, my father was taking very aggressive positions in interest rate instruments.  

Again, I don’t know the specifics.  I just remember him talking about it. 

Also, options were just starting to trade in a big way and my pops was a premium selling machine!

Very few people wanted to sell options and lots of people wanted to buy…

And my dad accommodated the buyers on a large scale.

For about 15 years the strategy worked brilliantly.  He made loads of money between ‘75 and ‘90. 

However, what I didn’t understand then – and what I do understand now is that he was taking on massive risk.

I found that out the hard way on my first trade.  

You’ve likely heard me talk about it before – I sold 10 out contracts on UAL and collected $1000.  

The next day, when the contracts were set to expire, a merger was called off –  UAL stock plunged and I lost $50,000 overnight. 

Lesson learned. 

I will give my old man this, he was proven to be right even though he was a maniac.  Still, his plays were too risky for my blood. 

That’s why we take a very methodical, hedged approach to trading in Options360.  Yes, it might seem boring sometimes, but we have beat the pants off the S&P 500 every year since we launched…

And that translates into reliable wealth building at a “light speed” pace.

To Your Success,

Steve

P.S. You can try Options360 for just $19.  You get hundreds of hours of archived training, a new LIVE training session every other week, all of my recommendations, and direct access to my via email.  

All for $19.  I can do that because I know once you get a taste of the service, you’ll stay forever!

Get all the details here.

About author

Steve Smith
Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.

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