By: Steve Smith
Saturday late afternoon I was sitting back reading a book, trying to calm my excitement about this week’s trading…
All the sudden my phone dinged with a text out of nowhere…
I looked and it was from a colleague. Here’s what he wrote:
A friend of mine arranged for me to come to a seminar in Orlando today. There’s a speaker here talking about options. He’s going to get these poor saps slaughtered!
I’ll spare you the entire conversation back and forth, but it seemed that this guy was talking to a bunch of trading newbies and telling them how easy it is to make loads of money trading options.
Now in some ways it is easy. Once you have the knowledge and understanding of how to pick setups and manage trades, etc.
Let’s face it, what we do isn’t digging ditches…
However, without the right information, it can definitely be dangerous.
My colleague went on to tell me about this guy “explaining” to these newbies how easy it is to put on the “Christmas trade.”
According to him, you just buy an option two weeks into December and sell it halfway through January, then you’ll make money 70% of the time… (or some bs win rate like that)
He then explained how easy it was to put on an iron condor each month back in 2008 and make 95%+ ROI.
Of course, he was selling something, and in this case it was a $15,000 2 day seminar about how to trade options. UGH!!
These guys get under my skin for a lot of reasons. First, they are taking money from the naive and trusting. Worse yet, most of them have no idea what they are doing.
For example, the backtested 2008 iron condor idea…
I was there and I can promise you that there’s NO WAY anyone was putting on iron condor trades and making money without managing them or adjusting them…
EVERY SINGLE DAY!
And besides, if it was so easy to make money trading options, why would anyone need to spend $15,000 for a 2 day seminar. Didn’t he just explain how to do it?
Here’s the truth, living the traders lifestyle is achievable. It is a wonderful way to live and I encourage everyone to go for it.
However, it takes time and hard work to learn to do it profitably and reliably.
I want to help you achieve your financial goals, whatever they may be. That’s why I include so much education in my options trading community, Options360.
First, all it takes to be apart of this community is $19, not $15,000. We’re also going to be honest with you about what it takes to learn how to trade the right way.
Plus, we are with you for the long hall to help you succeed – not just for 2 days…
Most importantly, I work hard to keep you profitable while you learn. Remember, since we’ve launched in 2015 we have NEVER had a losing year and…
We have crushed the S&P 500… Every. Single. Year.
Watch out for the predators, especially now that the economy is in trouble. They come out to prey on your fears, hopes, and dreams.
To Your Success,
If you can REALLY say that it wasn’t the best money you ever spent, I’ll even give that back to you. You literally can’t lose!
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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