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Recent Posts

October 14, 2017

I am an options trader. 

When I first started trading options I was hooked by their complexity.  Yet that complexity was almost my undoing.  In my first blog post, I mentioned that my number one lesson learned over the past ten years was:

"If you don’t understand th...

October 10, 2017

I previously described how rather than force a trade on GLD, I would be patient and let my set up come to me.  This resulted in entering 8 x GLD Oct27 $120 calls on Friday, October 6th for $1.30 each (total investment of $1,043.11 including commission).  I subsequently...

October 7, 2017

I spend more time planning than actually trading.  My previous blog post on GLD was part of my standard R&D.  It was also a set up waiting for a trigger.

A common expression in the trading industry is "Plan your trade, trade your plan."  I follow thi...

October 5, 2017

One of the most fatal mistakes in trading options is forcing a trade.  Many traders are so eager to "place their bets" that placing their bets (gamble) is exactly what they do - they force a trade when the prognosis really states "wait, be patient."

When I get the itch...

October 3, 2017

I try my best to pass the foundations of my trading habit to my boys.  This is sometimes done by asking their help in developing teaching material.  My next class with will be a four session course on money management in options trading.


September 27, 2017

In my capacity as a trainer and coach for OptionsPlayers, I am often asked for book recommendations.  While I always respond by telling students that the best resources are the experienced "starred" traders on the OptionsPlayers chat and forums, there are some great re...

September 25, 2017

We have all heard the axiom "90% of all traders fail."

Failure means many things.  For me, it means that one has had unrealistic expectations and as a result lost everything they put into the markets.  Then they gave up.

When I first started trading more than ten ye...

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