By: Steve Smith
I got slammed with emails yesterday from new traders, and new readers of Options Sensei, who were aghast at my reference to being a HIMI (Happy I Missed It) trader.
“How can you be happy that you missed out on a massive run-up?”
“Aren’t you interested in making money, Steve? Why would you want to miss out on any profitable trade?”
“I can’t believe you are HAPPY that you missed out. That doesn’t even make sense?”
“The only reason I had a good year is because I got into AMC. I lost on every other trade! Are you suggesting I should’ve just lost money all year? That’s stupid!”
Why am I glad I missed out?
Because for every one of those high-risk high reward trades that pay off, there are 15 or 20 or 25…
Or even 100 that you’ll lose money in. Often everything!
Remind me to tell you about the “sure thing” trade that costs me $50,000 overnight early in my career. Trust me, I know a thing or two about speculation!
Here’s the truth, if you are trading options you need to grind out the profits.
I know it’s not exciting – although making 65% in a few days on a trade seems pretty exciting to me.
But grinding out profits, maintaining the proper position size, protecting your downside, managing your trades properly…
And minimizing losses, THAT is how you make money trading.
Not by jumping on board some mania that is driving a stock irrationally high.
Would I like to get into some trade and make 10,000%? Of course, I would…
But most of the time these kinds of ridiculous trades lose all your money, and I refuse to do that!
So as long as I am grinding out 82% ROI per year like we did last year, I’ll be happy I missed out.
If you want to see how I make market-beating returns year after year – you can test drive Options 360 for just $19.
I’m not sure why you haven’t yet, but it’s time to take the leap and see why people never leave!
To Your Success,
PS. Just so you know, less than 3 weeks into the new year and we are already up 7.8% in Options360. When compared to our benchmark, the S&P 500 – which is down 4.2%, we are kicking butt so far this year.
And I believe this year could be even better than last. So click here to discover how to trade the right way!