By: Steve Smith
For almost 7 years now – that’s how long I have been running Options360 – I have been pounding the drum about my “grind it out” approach to trading.
I am not looking for a single trade to make us rich, that just doesn’t happen with any reliability or predictability.
While lots of people were caught in FOMO (Fear of Missing Out) last year, I was enjoying my HIMI (Happy I Missed It) approach to trading.
Not because I wouldn’t LOVE to get an insane return. Who wouldn’t?
That problem is for every flier you take that wins – like AMC for example – there’s 100 that looked like they might go to the moon only to crash and burn.
I learned my lesson about “sure things” with the first trade I ever made for myself.
It was October 12th, 1989, and United Airlines (UAL) was supposed to merge with Northwestern on Friday, October 13th – the next day.
I sold 10 $150 put contracts that expired the next day for a $1000 premium. I thought I was brilliant! In 24 hours I was going to put a grand in my pocket for doing nothing!
The stock had been trading at $190, the merger was for $200 a share…
And I knew that this trade was a sure thing.
If you’re old enough you might remember that Friday, October 13th, 1989 is known to some as Black Friday…
Because the merger was called off, the market crashed…
And I lost $50,000 on my first trade.
That’s why when people come to me with some AMAZING sure thing that will put loads of money in our pockets, I am skeptical.
Does this trade match my trading thesis?
What is the risk/reward ratio?
I know it’s not exciting, but my grind-it-out approach delivered an 82% return for last year – winners and losers included.
And we have delivered as high as 125% ROI.
Options360 has never had a losing year, and we have smashed the S&P 500 every single year since we launched!
And I believe we can do even better this year.
And find out why people who join rarely leave!
To Your Success,