By: Steve Smith
I mentioned yesterday how I can step out of my office and take a swim in the ocean anytime I want.
I didn’t mention it’s the Atlantic ocean I am swimming in. This coast of Florida is a haven for surfers and our own brand of surf culture.
There aren’t many “big waves” like in California or Hawaii, but nonetheless, people on the East coast of Florida flock to the beach every weekend with their boards.
It often occurs to me that surfing and trading are analogous in many ways.
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For example, when you are surfing small waves on the Atlantic, you can have a lot of fun…
And even if (or rather when) you wipe out you are generally perfectly fine. The surfers just hop on the next wave and go again.
That’s how trading works in a calm, fundamentally strong market.
On the other hand, in this market – which is being pumped up thanks to government policy and ridiculous amounts of liquidity – we need to act like big wave surfers.
It takes more skill, more risk mitigation, and the dangers of wiping out are exponentially larger.
Several big wave surfers have died or been seriously injured in bad wipeouts.
That’s the case with traders right now – if we don’t properly mitigate your risk.
For example, we wiped out on JD and CRM recently – but because we structured the trades properly we didn’t get seriously injured.
My point is, there are amazing trades to find in the market right now. And while the volatility creates opportunity it also creates risk.
Luckily for us, I had a few big wipeouts early in my career. I learned from them, and now you don’t have to experience the same devastation that I did back then.
My Options360 subscribers get all the upside of surfing the big waves, with a fraction of the risk you might find on your own.
To Your Success,
PS. Clearly, I can’t promise you that you will make money or that you will never lose money. That would be illegal and unethical. I can tell you that I structure every trade so that if you follow my recommendations any losses will be mitigated and we can get back on the board quickly.
You can try it out for just $19 here.