By: Steve Smith
The other day I was reading an article online about the ongoing energy crisis in California.
I got to the comments and read one of the most insightful questions I have read in a while…
The writer asked, “How come Florida is hotter than California and we still have electricity?”
That question stopped me in my tracks.
How does Florida – a state known for service sector jobs and tourism – have virtually no energy problems… while at the same time, the 5th largest economy in the world and tech hub, California, is worried about how they can avoid rolling blackouts?
The answer is… resource management.
When you abuse and mismanage your resources it always leads to problems in every area of life.
That’s equally true in your personal life as it is for California’s electric grid.
If you mismanage your physical resources, overeating for example, there are going to be health issues.
And if you mismanage your financial resources, it will lead to financial problems.
For example, no good can come from irresponsibly using personal credit.
And if you mismanage your trading resources, you’ll end up losing money, rather than building your wealth.
Trading is fun, but the purpose of trading is always to make a profit. And making a profit also makes trading WAY more fun, trust me…
If you don’t care about turning a profit, learn how to golf. You’re practically guaranteed to lose money on the links.
If you’re going to trade, managing your position sizes and your trades are both critical to profitably trading for the long term.
Yes, I know your sister’s brother-in-law’s buddy made a bunch of money by going “all in” on that meme stock last year.
Tell me how he’s doing today.
Don’t worry, chances are I already know.
Resource management is one of the greatest advantages you get when you become a member of the Options360 community.
I take care of the position sizing and trade management for you.
Everything is based on a $10,000 trading balance at the beginning of the year.
If you dedicate $20,000, you double the trades.
If you dedicate $100,000, you ten times the trades.
If you dedicate $5,000, you cut the trade in half. So on and so fourth…
And, of course, I monitor and roll the trades (manage) as needed.
In short, I will help you learn to manage your trading resources the right way.
And when you do that, you increase your likelihood of being profitable exponentially!
To Your Success…
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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