NEVER Buy Options. Options Trading: SHOCKING $550,000 TRADING LOSS

NEVER Buy Options. Options Trading: SHOCKING $550,000 TRADING LOSS

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I wanted. To make this video to. Be, of service and help, this, individual, that messaged, me and also. Help others who are struggling I usually. Receive around 40 or 50 emails a day I. Work. Hard to, get, back to everyone in an expeditious. Manner but. I felt that this email in particular, would, be able to resonate, with a lot of people so I wanted. To share. It with the community so. This guy writes or. Maybe. Actually. I don't know if it's a male or a female but, assuming. That it's a male so, hello David so here's my story why. I'm writing and thoughts of what you. Sent me an offer it's, all a real objective, assessment, and maybe some subtle questions mixed in that. I cannot, identify currently. Before, I watch your YouTube videos it's inescapable, to not notice the day trading fraud. Services. Having. Their own commercials. On your, exact, video clips that call them fraud criminals. Lol. Almost. Hilarious, ironic. Then, there is you a guy who claims to have a 90% success, rate rich in selling. The exact. Poison. Those guys tell us to buy math. Seems truly. Possible, due, to the Greeks decay. Mostly. And then, there's me seven, hundred and fifty thousand. By. Age thirty always, saved went, to top schools went to med school then. I was diagnosed, with, disabling. Disease, with. No cure that, caused me to leave medicine, and have a pathetically, small disability. Temporary, policy paying, me every. Month a lot less than I used to earn I panicked. When I knew medicine was no longer my future, I decided, to buy options, to. Try and make up for lost income and trusted, some of those some. Of these other services you speak of you, didn't even know. The biggest fraud services, are those like black. Box stocks uses, pretty-girl marketing. People with, claims of every trade they alert. Working, trade, or lying claims of a hundred percent annual, share. Yup. Share only gains now. Back to me I stupidly. In moments of panic in 2018. When, I knew my med career was over due, to health limitations, I bought options, many. Short-dated and managed to take 750,000. Hard-earned, saved money into. 190,000. Today I've, managed to make things even worse for myself with. With. A limited, shitty, monthly. Income on disability. And I'm, not sure what. To do from here, I've. Tried just about every, psychiatric. Medicine, for depression anxiety, -, these. Turn me into a zombie they made me worse so I stopped taking them, I'm trying, your high-dose krill, oil idea, but overall. 190. 1000 left and no. Idea of how to recover or how. To trust services, where. I pay to hope, to, earn money back I lose, five hundred and fifty thousand, clearly buying options is a. Fool's game. So. You. Know this is a little bit difficult and I. Haven't, really shared a lot of the emails, that I receive, from, people. Previously. But I definitely think that this one is worthwhile, the, first thing is. Let's. Head into the trading so I've never heard of black box stocks I've never heard a trader lying but. The reality, is that the, only thing I know that a lot of people think that I'm very aggressive by. Constantly. Pounding the table on selling options but. The only way that you can consistently, make money and earn predictable, profits in the stock market is by, selling, option, premium you, realize that 90. To 95 percent of our trades expire, worthless and, the. Crazy thing is there. Are people who sell options who lose money like, for example in October. And December if, you. Trade it too large then. You would have been forced to close out your positions, and because. Of that you, potentially, could have lost let's. Say 50 or 60 percent of your account I'm gonna make a video today about option, sellers calm, and what, happened to them is they, trade it too large and they. Got greedy and they got a little bit unlucky so. Even, though that, trade that they put on by. Selling, calls in natural gas after, it moved up tremendously, previously, would probably, be profitable, around, 89%. Of the time if they. Had one-tenth, of the position, that they, had on they. Would right now be up money, because that position, has ended up. Normalizing. And falling, back you know natural gas has declined in price from where, it was previously, but. Unfortunately. People get, greedy the reason why I'm telling you this is. Nothing. Is a guarantee, if you want to make money then, you're gonna have to take some risk and by selling options we. Win 90 to 95 percent of our trades but there are some, people who sell options who, lose money because they, don't have adequate size. Control, and they, tray too many contracts, so, buying options it's. Just like it's just idiocy in my opinion yes, there are some times where.

You Can potentially make, some, money and hit homeruns, like for example Facebook, this, past week went. Up around 15, or 16 dollars after it reported, earnings so, you could have spent like, three or four dollars to buy a call option and then, when, Facebook went up fifteen, or sixteen dollars, that, option would probably show you around a 300 percent gain but, you, do that 10 times and. You're only gonna make money two or three times and unfortunately. For those other seven, or eight times you're gonna lose all the money that you invested, so it's just a matter of time before the. Probabilities, work into play because remember when we sell option, premium we're, acting like the insurance salesman, and like, the casino and the longer, the gambler, pays or, the longer, the more policies, the insurance company sells, the more money they're gonna make so, you, have to sell option premiums the only, way and this is coming from someone who worked on Wall Street I worked. As an investment banker at CIBC, World Markets at, pets keeper neo Morgan, Stanley and I have other videos about, that, and about my experience. Regarding. Other things so about medicine I I know the medicine feel very well my, dad is a, doctor and my, best friend is a doctor I can tell you that my dad did. Not enjoy. Medicine. I don't want to talk about my best friend because he currently, this is but, what I can tell you is when, you go through the, medical. Training. Facility, when you go through medical training and you go to medical school and then you do your internship and your residency. It, just it really beats you down and I have noticed that a bunch of people who. Are doctors, they get sick because they're, working a lot of hours are under tremendous amount of stress sometimes, they have to do things in medical school where they're scared to speak up because they're concerned about their grades being negatively impacted, by voicing, their opinion, so, I definitely think that when. You go into medicine even though you might have, positive. Intentions. At, the same time you, have to understand, that you're going to be, you're. Really going to be sacrificing. Your individuality, and, it's going to be a very stressful environment where, you're going to have to just. Subject, yourself to a tremendous, amount of sacrifice. Medicine. Overall, it's, not something, that I would recommend, but. At the same time, it's. There, are a lot worse ways to make money the. Other thing the. Other two things that I want to discuss one is losing a lot of money and the. Last thing would be mental, health so. Losing, a lot of money I just want to be honest with you if. You lost if, you, lost 500, around. Five hundred and sixty thousand dollars it looks like, you. Can make that money back by selling options so. Can. You turn a hundred ninety thousand, to seven hundred and fifty thousand yes. But, it's gonna take you probably, around I'd, say two and a half to three years I'm. Just being realistic now, if you want you can try to turn, that money from, one hundred ninety thousand, into seven hundred and fifty thousand, and you can try to do it faster the. Problem, with that is if you, assume too much risk, there's, a very high chance and, a very high probability that you're gonna end up losing your money and from, reading your email, I definitely. Don't think that, you, want to subject, yourself. To. More. Losses because, if you are on a fixed income either, you're receiving Social. Security disability, benefits I definitely. Don't think it's worth your while for. You, to try to. Back all of that money ASAP, and, take. On too much risk and potentially, turn, that 190,000. Into, 85,000. What would you do then I think that's psychologically. Speaking it would be devastating, so your best bet would be to. Accept. Your existing, position, look life is very precious and, I. Understand. That you're going through health. Issues, but at the same time if, you have if you're relatively, healthy. Regarding. You, you're not you're, like going to the gym you're eating well you're able to write a coherent.

Email You understand, trading, you, do have. $190,000, you have a stable, income even though it's not as much as you want things, could always be worse you could, have twenty or thirty thousand dollars or you could have less money but the point that I'm saying is you have to forgive. Yourself for, losing the money forgive, yourself because, that money is gone and then. You. Should take. That money and. Implement. A very safe strategy like selling, options and over, two, and a half to three years there's. A decent chance and, I would say probably better than 5050 that you'll be able to turn that. 190,000. Back into the 750,000. Is it guaranteed no but what I can tell you is that if you try to make all, about, five hundred and sixty thousand, dollars back in like a year you're gonna end up losing your money and, it. Happens, with some of my students as well when, they sell options and they tell me that they're up like thirty percent in a month, I don't, congratulate, them I tell them don't. Do that because you're taking way too much risk you. Are trading. And selling options with a strike price that's a lot that's, way too close to the current market price and you're, also trading, too many contracts, so, when they tell me that they're. Up like 20%, or 30% in, a month I don't congratulate them because I just know it's a matter of time, before, their. Aggressiveness. Ends, up blowing, up in their face I tell, them that they should target to make anywhere from 3 to 5% a month and that. Is the stable, return, that, you should target you, can choose strikes. That are far away from the current market price. And you, can also trade. A decent, amount of options but something, that if the market swims like it does like, it did in December you're, not going to be forced into a margin call to lose money but buying options it's like it's, almost as bad as day trading, the. Last thing about, mental, health so just. To preface this I am NOT a licensed. Medical professional, I, am, NOT giving, you advice I have. Never met. With you I don't, know what, the. Illness, is that you're. Current, I don't know what you've been diagnosed, with but. I'm just talking about depression. And. What. I did, in order to help myself so, the first thing is. Regarding. The psychiatric. Medicine. For depression anxiety, has turned you into a zombie yeah. I mean that's pretty much what it does it the lot, of the SSRIs, they, have fluoride in them they mess with your they lower your testosterone so. You should definitely get your your testosterone and also your free testosterone and see what the ratio is because. I can tell you that once I took a lot, of the medication, and decrease my to my testosterone, to a point where it was very difficult for me to remember things to talk clearly to. Process. Information, also. The SSRIs they. Do have, fluoride and some of them have aluminum so not only is it bad for your for, your liver so it's. Hepatotoxic. But, it's also bad for your neurotransmitters. Both your dopamine your, serotonin and also your acetyl coline I know, that some of them are a lot better than others for example wellbutrin, is actually not that bad if, you can take something, because.

I Know that well bution does not depress. Your sexual drive also. I believe that, a little. Bit of, this. Helped me and this was back in like 2008-2009. A little, bit of adderall, now, adderall can be a little bit addicting, but, if you can take around 10 milligrams, or 15 milligrams a day of, adderall. Then that actually will help you now I think that adderall, just pretty much covers it up but. It will give you a clarity of mind where you're able to get, things done if you are depressed so if you take around 10 or 15 milligrams of adderall in. A day you should have around, a three or four-hour window to. To, do your work now again you should discuss all this with your doctor, but. I can just tell you what worked for me so. You. Got. Off all meds and I, did things myself you, need to go to the gym there are other things that you can do you can take cold showers which, is going to increase their brown adipose, tissue and it's, going to stimulate your, immune system and also improve your mood and. Because. It's going to raise your endorphin, level I also have a lamp, that I use a red infrared. Sauna lamp and I like to shine it on my head and I also shine it on my on, my balls actually because it increases testosterone I know that you guys think that's probably crazy but you can get a infrared. Sauna lamp it's a it's a red lamp and my, wife actually shines, it on our face because it increases collagen production but, I shine it on my face on my balls and, it's. Great like an infrared sauna it's super cheap you can get one of those mylar. Those. Mylar, blankets and, you can just create like your own little personal, sauna. That's going, to cost. You only around like 20 bucks high dose krill oil is great another, thing that people do besides the cold showers, or. You. Know going, into like a cold Lake is they, take high-dose niacin. So. Nice and is b3 and you, want the flushing kind. So, you're, probably gonna have to take around 4 or 5 grams of that you should also go to the gym because it'll, help it'll. Help stimulate, a lot of your a lot of the positive. Chemicals. That you have in your body as far as like it'll increase dopamine production, and increase, endorphins. And it'll help decrease some, of the cortisol, levels which are going to decrease your systemic, stress, levels, so, there are a lot of things that you can do as far as vitamins, you. Should also check your vitamin d3 levels, now I know that when you get a blood test they're going to tell you that normal is around 20. 20. Mg, per milliliter, but the actuality, is that you need to get your vitamin d3 levels, up to around 60 mg, per. Milliliter, and you. Also want to combine with the d3, vitamin k2 and, also magnesium because, a lot of people are deficient in magnesium as, far as the type of magnesium, that want to take you don't want to take magnesium.

Oxide. I actually take magnesium Malley because it's better absorbed, and I think that there is um, magnesium, there, innate or something, like that not. A hundred percent sure now, regarding, hormonal, things there, is ways that you can artificially raise, your testosterone level. You can take some pregnant alene I don't. Recommend taking that every single day because it might potentially, reduce. Your body's ability, to produce. Natural. Testosterone but. I take around fifty milligrams or pregnenolone, let. Me see how to pronounce it pregnant alone yeah I take. That around once or twice a week you, could like I said you take krill oil you want to take coquí, coquí ten, because, it's very good for your heart and other things but that's pretty much what I do so I don't know if this is right for you I'm just telling you what I've done and. But, as far as I had to rank things I would say you have to make sure that you, what. I've done is you, cut out all, sugars. So, reduce your sugar intake you. Take, high dose krill oil you, get your vitamin d3 levels, check the, sauna, lamp helps, you, check your testosterone you. Do cold showers, and. For. Me at least I got off all the medication, so, that's. That's, pretty much it if, you have questions, then let me know the, other thing that I want to discuss, is, I. Want. To discuss day trading. So. This, was a study that was done which. Looked. At. 360,000, people all. Right. 360,000. People and. The. Conclusion, was and in in, an average year, 360,000. Individuals, engaged in day trading while. About 13 percent, earned, profits Netto fees in a typical year the results of our analysis suggests that less than 1%, of day traders, 1,000. Of the 360, thousand are able to outperform consistently. It, is worth emphasizing the, outsize alphas, earned by the top 500, so. You're talking about. 101. So, the, outside alphas, out of 500. At a 360. Thousand, so that's what. That's like, one-sixth. Of 1%, something like that right, less. Than that so, they. Pick up so, the, total. All. Right so the outside the. Outside alpha, is that these people is five, percentage, points meaning. That for. The, top one, six, of one. Percent, so, with this is telling you is that. 359,000. Out, of three hundred and sixty thousand, they. Day, traders lose money on, a consistent basis. Now, the, top five hundred, at a, three hundred and sixty thousand, they. Earned five. Percent. Over simply, holding, in s py index, that's, nothing so it's not like you're driving, expensive, cars and, buying, fancy homes know what you're doing when you earn five, percent a year even. In the best-case scenario is your. For the most part eating, off the dollar menu at McDonald's so, you're not driving, fat, whips and, banging. Hot girls instead. What you're doing is you're. Pretty, much giving, yourself an extremely, low probability. Of success. Right. I mean that's what it says like only. One. Only one thousand, out, of three hundred and sixty thousand, make, money and, of. Those people, five. Hundred out of 360. Thousand earn only, five percent a year so that's why I tell you guys that day, trading is a scam. And day. Traders are fraud victims if you want to look at the study it's, right here the cross-section is spectacular, spectacular skill, I'll link to it below and for. The guy who wrote me the email if, you have any questions I'm here to help you and let.

Me Know because, I, just wanted to share this because I think that for many people, his. Email, and the advice that I provide will be helpful thanks again. Also. As a follow up so he just sent me this email just make sure if you ever do mention my soror you don't put the blame on any specific services. Or other people I truly believe my, losses are my fault I chose to buy options, I went against math I used fear of my disability, to cause me to to use being, desperate and afraid to make me. Taking chances I didn't, knew existed or was blind - it's my fault no. One else I hit the button no one else did I took the risks and nobody. Else, can, be blamed but me no one else if. Someone, else. Can, learn to never buy options, especially short-dated. Ones then wonderful but I do not wish to be part of anything where I blame anyone else that's why I declined to offer to be any YouTube blaming, anyone else no, one should, ever blame another person, for their decisions, I truly, believe this it's. Everyone's own decision, for, blaming. Even, the bad service maybe that's. One, place we can disagree as smart men I sure, blame. No one else for. Stupid against math gambling. Never. Ever buy options, regardless. Of your reasons or advice or. Anything never ever do it alright so. Basically. Here's. My, issue one. I do, believe that you're a victim now whether I don't. Really I don't, think it's good to think of yourself as a victim but I also think that a lot of these services. And I don't remember which ones I'm not focusing on those two I didn't, I'm. Not commenting specifically. On any service but, what I am saying is that a lot of these like. Day trading gurus, or the, buying options, what. They do is they, use marketing. That's so amazing that. The, victim, blames. Themself. For. Their losses which. I don't believe is true, like the victim, the marketing is so good that the victim is tricked, into blaming. Themselves. To think that they're the reason that things. Didn't go well but the reality, is that it's. Just math when, you date trait you're gonna lose money as I showed you with that study I mean there's just no way around it and when. You buy, options, you're going to lose money so I. Definitely. Think that it's a learning lesson I'm. Not here to point the finger I'm here, to move forward, and what, I can tell you is just, moving forward from the advice that I provided you earlier I believe, that the most important, thing is to get your mental health in, to. Get that healthy because if you are healthy you can make that money back, it gonna be easy for, you to turn, 190,000. Into 750,000. No, it's not it's gonna take you around probably, like I said 2 to 3 years but, at the same time I would definitely, if.

I Was in your situation. Please. Be grateful, for the opportunity that, you have the, operator that you have the chance to make that money back there, is an opportunity, for you to make that money back and you're, writing well you're able to communicate you're. Able to trade you understand, how things work that, by itself is a blessing. So yes you lost money and you lost a lot of money five hundred and sixty thousand, I also understand, that you went to medical school and you're. Unable to. Continue. Working. In the, medical profession even, though you sacrifice. Around ten years of your life with, undergrad, residency. Medical school etc in order to get to that position, but, you still have hope you. Still have hope so, just. Learn a monetizable. Skill, learn. Something, that will pay you dividends, in the future like learning how to sell options and be, patient, don't be greedy and don't blame. Yourself, I think that's the most important, thing and that's the one thing that really, comes off in this email where you blame. Yourself but. I wouldn't blame anyone I'm. Not don't, blame these people don't. Blame yourself just look at it like a learning lesson I've made a lot of mistakes and I, don't go back and I don't think about them I don't ruminate. I just, try to think, about the present moment and the future what can I do right now to, make my future better that's, what you should think don't, don't, get down on yourself or, get, depressed or get really sad about losing the money because that money's gone and if you try to make it back too quickly you're gonna lose more so. Focus on learning. Skills and focus. On something that you can do in the, you know you, know in the long term over two or three years and I, do believe, that if you make good decisions you'll be able to make that money back so. That's pretty much it if you have any other questions let me know I'm going to post this and I'll send you the video shortly.

2019-02-06 16:06

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You are absolutely right. Option trading is fraud. I bought a call on Alibaba the other day for $300 and its went my way up by $6 but unfortunately, i saw i was still losing like $120 of the call. And i had even passed by break even by $2. ITS FRAUD

Thanks for sharing your experiences

+BestStockStrategy there's a lots of calculations in options that no one even understands how its done sometimes but one just have to take the risk only by day trading it. I can't risk option over night no more

Thanks for the comment

+BestStockStrategy option isn't bad, in as much as you're not been greedy with it. The rule is to get out fast once u start losing or u see it going towards ur opposite prediction

Perhaps interactive brokers. Quick question, are you sure that Kirk recommended buying options?

+BestStockStrategy i know its a lot but i don't mind doing at least one day trade a day for every trading day. Can you recommend 9ne?

$30 a trade is a lot!

+BestStockStrategy i trade with robinhood but still searching for the best broker to day trade with. Don't mind paying $30 for each trade

Thanks for the comment. Option alpha recommends buying calls?

Is smb capital a scam?

Day traders rarely ever make money. Investment banks make money via transactional trading. So if SMB hires day traders then they are likely profiting from their traders transactions. Then when the traders go bust, they just get new ones.

+BestStockStrategy of they were fake they would not dedicate everything to day trading right?

I believe SMB makes money by charging their traders transaction fees. In general, day traders are fraud victims. The odds are against you. That's why when they looked at 360,000 day traders, only 1000 made money. And of those 1000, the most successful ones only made 5%. So... my guess is that SMB makes money off the transactions, they probably expect their traders to fail.

I believe so, but I haven't done so much research into them

The option sellers case is so true .. because the market got back and hevckukd have got out .. size of the trade is the key esp in the option selling space . Stay small stay consistent

I actually recorded a video on them yesterday. I'll post it this week!

I pay for the you tube subscription, avoiding the advertisements.

That's becoming more popular recently

Excellent positive and empowering advice David. Even though it's directed at the email author, there's wisdom for everyone. Regarding these sleezy get-rich-quick options gurus, I do believe they should be sued into oblivion for defrauding "customers" year after year. They market with historic trades and assume 100% of one's account is invested in each trade, which they multiply up or down by the % win/loss percent across all trades - so all it takes is winning more than 50% to land on a giant final number.. which will never be possible if you bet your account per trade. A lawsuit revealing actual trading history would uncover that the guru has never achieved what he's advertising. On the sell side and going too big, I think the Dunning-Kruger effect comes into play with new options traders; where some reading, some experience, and positive wins combine to produce more confidence than someone like yourself has after many years of trading. We need to remember that the steamroller is lurking.. and the market will one day strap rockets on it, just like they did in December! Great content as always, thanks.

Unfortunately these scammers use super shady tactics

+BestStockStrategy Good question - sued in any court I suppose. I didn't realize these scammers were already launching frivolous lawsuits against people speaking up about them. I guess with their livelihood threatened, it makes sense they would lash out trying to redact negative reports and comments.

So when you say "sued into oblivion" what specifically are you referring to? And in Federal or State? Many of these fake gurus use the court system to perpetuate their scams by silencing criticism. This type of behavior ends up costing them in the long run, but in the short-term it's highly effective.

You can get your ass run over selling options just as well. You can only lose what you pay for an option. You can lose massive selling.

Correct. That's how retail traders make money.

Correct. You can win 95% of your trades and still lose if you get greedy. But the probability is still in your favor. The chances of being successful long term by buying options is virtually zero. If I play Steph Curry in horse, maybe I'll win 1 in 1000 times. That doesn't mean that anyone should bet on me though.

Buy and hold the underlying. Buy on dip sell on rips, look for profits and market share just yesterday amazon and many other premium underlying we're down 5% on a good earnings call. Oversized position, penny stocks, forex, leverage and selling options are why 90% of retail investor go bust. Medicine is run by the big pharma from education, to standards of care/practice it's 90% bullshit.

Also, retail investors don't go bust from selling options. They go bust if they BUY options, or... if they trade too large and sell too many contracts.Selling options provides a high statistical probability of profit for retail investors to make money.

Couldn't agree more. I see that every article of measles is blamed on lack of vaccinations and calls for laws to eliminate vaccination choice. Big pharma has the media and government helping them to monetize us.

https://www.amazon.com/HOW-GET-RICH-FINANCIAL-LITERACY/dp/179167819X/ref=mp_s_a_1_1?ie=UTF8&qid=1549141195&sr=8-1&pi=AC_SX236_SY340_QL65&keywords=rabbi+lewis&dpPl=1&dpID=417H4XX%2BWQL&ref=plSrch

okay, thanks

do you think that even a straddle strategy is too risky in buy options? i mean what are the odds of the market staying within the loss range all the time till too close to expiration?

Yes, anytime you buy options you are virtually guaranteed to lose money over the long term

Lucky gamblers and those with illegal inside information are the only people making money buying options...

That's probably true :)

Your insurance analogy is so appropriate. The insurers know exactly what risk they are taking on each time they sell a policy. In the long run, they will always be paid appropriately for the risk they sell.

I agree.

Those daytrading gurus been deceiving people for so long that they believe their own lies. For sure, they will rebuff by saying the person didnt study all 5k videos on subject matter. Ever1 can get lucky on few trades, but end result in daytrading is stress and comfirming statistic that over 90% will lose.

I agree!!

+BestStockStrategy indeed. I feel that select few people who dont want to learn option selling, they would be better off in long term investing is safer stocks like Msft, and hold for at least 3 yrs. Its ytd is normally 17%. Much better than gambling on day trade.

This study concludes that only 1,000 in 360,000 day traders made money consistently. Yes, it examined 360,000 traders! And... Those 1000 lucky traders made less than 5% above holding the SPY index. https://drive.google.com/file/d/1zSkz5yrtXrer8hBG1TaTerkBCCZnSXGq/view?usp=drivesdk

With capital losses that large, it's important to get some good tax advice. If you carry forward the losses properly it will be much easier to get back to even!

From my experience, 5% is too aggressive. It's possible, though not likely. I think the optimal amount, to limit trading too many contracts or selling options too close to the current price, would be about ~3.5% long-term. Will you have 5% months? Of course. We killed it in January. But it's not to be expected.

+BestStockStrategy i know you are probably resistant to quote percentages to this guy, but dont think it would be unreasonable to expect 5% monthly selling puts with fairly low risk of loss over the long haul. Thats nearly 10k per month, and tax free until he breaks even. Not bad.

I agree. Slow and steady is always best.

I think he mentioned disability income too, so with that plus a decent monthly return on the 200k left (or was it less), he should be doing ok. Not taking too much risk and trying to make it back quick is the key. Taking the >95% trades will net enough for a decent living.

What are your thoughts? I value your opinion.

Yes, but he mentioned that he's disabled. So he relies on trading. Plus.. losing a lot is very psychologically draining. I did the math, and actually, it would take him about 3-4 years. Not 2-3 to make it all back. It's tough to lose so much in a month and then spend 3-4 years clawing back. It's much better to make less during good periods and lose less during highly volatile periods

For this guy who lost so much, he still has 6 figure capital remaining. As an MD, he probably made around that per year. With good risk management, he can still make a return very close to what he made in practice. And it will be tax free until he cancels the capital losses noted in the topic. So, there is hope!

Yup, he can simply roll forward the losses so that future gains will not be taxed until his trading losses are offset by future gains.

This is the learning curve of trading options. A very expensive education, but now he knows and still has capital to move forward. He will never forget a lesson that costs 500k.

I agree. Selling options does. I don't blame others because they are fed false information. They don't know the true odds so they think it's possible. For retail traders, selling options is the only way.

Maybe the hardest lesson is risk/reward. There is no get rich quick method. You must take great risk to achieve great reward. The problem is that most people dont know how to measure risk. Options give us a unique ability to very acurately measure risk. Measuring risk is the key!

And an expensive lesson

Yes, very demoralizing

This email seems fake. MD with horrible spelling. Then again just my opinion. Still agree with strategy on selling options with good risk management.

He says he's disabled. I didn't ask about the disability. I noticed the poor grammar and spelling too. But whatever, if that's what you want to focus on, then so be it. Disregard the video, ignore the message and trade whatever way you desire :) You always have a choice!

https://drive.google.com/open?id=1zSkz5yrtXrer8hBG1TaTerkBCCZnSXGq - 359,000 out of 360,000 day traders LOST money. Average day trader loses 15% a year, the top 500 day traders (out of 360,000) made only 5% more than holding an SPY index and doing nothing! Day traders = fraud victims

Why does he not invest his remaining $190k into buying a property to rent out for monthly income...just saying, or invest in shares of my business(or others) for a 10% roi per annum. I don't recommend him to continue anymore trading till he exactly knows what he's doing in buying/selling options, with selling puts he could lose more than $190k!... if size not managed properly, you need to help him asap!

+BestStockStrategy I can agree that selling options can be a very good investment *if* done right, I have been doing it for the last two months with only consistent gains. but it's not easy for beginners to fully understand which stocks and when to best take the trade, without your guidance he could sell options recklessly and go bankrupt!. as for property investment, I am in a circle of rental income...it's not a high % gain potential as selling options, but it's less work and very stable reliable returns, but I can only say that for Dublin, rental demand is nuts here!

I don't know of a better Investment then selling option premium. His problem was that he bought options. And yes, selling premium backfires too if he trades too big. But if you're disciplined, then selling premium is extremely profitable.

Yes, that's why I provide a course that teaches people how to trade profitably

Do you not support debit spreads?

I don't buy options, unless it's part of selling a credit spread

What do you do when you think volatility will expand?

Both

What adjustments do you make to account for the expanding volatility causing rising premiums? Sell further OTM or smaller positions?

I sell premium.

+BestStockStrategy did you Lose a lot of money while day trading ? Thank you for answering my questions.

I didn't fall for a fake guru or scammer. Day trading, by itself, is a scam.

+BestStockStrategy which scammer were you learning day trading from?

+AWESOME No. I just tried day trading because I thought I was special and smart. And then I learned that being special and smart doesn't matter when you're gambling and have a 99.8% chance of losing money and... Even if you're the .2%, you're only making 5% a year.

+BestStockStrategy you were scammed by Tim Sykes in the beginning?

Yup

+BestStockStrategy have you ever tried day trading ?

It's the only strategy I tried that worked consistently

+BestStockStrategy how did you find about selling premium and it's profitability?

They have very strict capital controls. Again, I'm not familiar with their business model but I think their game is providing leverage. So the traders bring their own money and they tell them that they can provide 40x leverage. Again, I am not familiar with their business model but day traders are fraud victims and these day trading shops are revolving doors and hopeless dreamers.

+BestStockStrategy but if the traders blew up. Would smb Lise all their money bcs the traders trade with smb capitals money?

Basically. At least those are my thoughts and opinions. Can't say definitely.

BestStockStrategy so yes they are a scam lol

Bro, he needs Jesus.

Sell options and sauna my balls got it

Hahahahahaha. Exactly! Infrared light on your balls = increased testosterone.

David you said this gentleman can basically make %400 in two to three years turning $190,000 into $750,000 however in many of your videos you say to expect to make around 30% meaning what you just told this guy is bull? are you yourself one of those scammers you talk about in many of your videos??

People can expect to make 30% to 60% a year trading options. $190,000 over 3 years at 50% a year brings you to around $700,000. But sure, go follow someone else. With your attitude, you deserve to follow fake gurus and lose your money ♥️♥️

A statement is on BestStockStrategy.com and there's no need to "eat your words" because your opinion is not important to me.

If you show your broker statements I'll eat my words..

TO ANYONE WANTING TO TRADE OPTIONS: GO TO TASTYTRADE.COM AND WATCH TOM SOSNOFF TEACH OPTIONS TRADING>>>>HE DOES IT DAY IN DAY OUT ALL DAY EVERY DAY THE MARKET IS OPEN AND GUESS WHAT??? HE DOES IT ALL FOR FREE!!! HE IS THE FOUNDER OF THINK OR SWIM AND MADE HIS LIFE FORTUNE FROM SELLING THAT TRADING PLATFORM AND THIS IS HOW HE HAS DECIDED TO 'PAY IT FORWARD' BY TEACHING FOR FREE WHAT OTHERS CHARGE THOUSANDS FOR !! THESE ASSSHOLES ON YOUTUBE PUSHING OPTIONS TRADING LIKE THE CLOWN FROM RAGING BULL ARE TOTAL DOLTS, IF THAT DUDE AND OTHERS ARE SO SUCCESSFUL TRADING THEY SHOULD GIVE IT AWAY LIKE TASTYTRADE...DON'T PAY A DIME TO HAVE SOME ASSHAT TEACH YOU HOW TO PLACE NEUTRAL OPTIONS SPREADS...TEACH YOURSELF!!

While I agree that there are a lot of fake gurus, my students pay me every month because I make them substantially more money than I charge them. I disagree about "giving it away". No one will give away their time for free. I don't need to work. I do it because it keeps me busy. I would never work if I didn't feel appreciated and if I wasn't paid. My time and experience are valuable. Same thing with Sosnoff. He built TastyWorks and started Tastytrade first because he signed a 5 year non-compete. Also, in my opinion, Tastytrade is NOT optimal in what they teach. They leave A LOT of money on the table, as I discuss in this video: https://www.youtube.com/watch?v=aTlSIbtc-eM

Everybody knows...you never buy and option, you only sell them! Buying an option is like buying a car and keeping it for three years and thinking it will be worth more than you bought it for...options decay...ya better learn that and understand it before you trade options.

Very good point. I agree with you.

David, I love your strategy. It resonates well with my years of selling options.

Thank you

You sign up for the trade alerts here: https://BestStockStrategy.com/memberships

How do I do that? I was kind of was thinking about it since I do work but have a flexible schedule. So I don’t miss big opportunities like the two great examples you gave. Fits my way of trading.

You should consider joining the trade alerts.

Ok, thanks for sharing. Maybe you should create a YouTube channel on buying options

Or be intelligent and don't hold them that long...lmao. Don't be a noob come on lol

+DavidBenson215 cool. Keep doing what you think is best

It's honestly not that hard to buy options, just don't hold it for a long time. Common sense

Hi, So would you say that somebody, like "Bijan Trades" is a faker ? https://www.youtube.com/watch?v=8BA5gmz4Yfw Would really like to hear your thoughts on this mainly day trader. Have sold Puts in the past on DAX 30 Index about 250 points below their current price and did really well. So am sure what you say is The Real Deal ! Thanks for taking the time to help us.

Does he teach day trading? if so, then in my opinion every single day trader is a fraud victim and the "gurus" are fake. Regarding Bijan, i never heard of him. It's weird that him and I have similar subscriber numbers but my videos get ~50x more views. So maybe he bought his subscribers? I'm not sure.

that's ok i don't even have $19000

Buying options = guaranteed losses

But if it does stay in that range, you lose ALL your money

+Tony White Would not natural expenses chisel away a portion of this?

+Tony White So, Tony: What should he do going forward?

@BestStockStrategy I can agree that selling options can be a very good investment *if* done right, I have been doing it for the last two months with only consistent gains. but it's not easy for beginners to fully understand which stocks and when to best take the trade, without your guidance he could sell options recklessly and go bankrupt!. as for property investment, I am in a circle of rental income...it's not a high % gain potential as selling options, but it's less work and very stable reliable returns, but I can only say that for Dublin, rental demand is nuts here!

@BestStockStrategy there's a lots of calculations in options that no one even understands how its done sometimes but one just have to take the risk only by day trading it. I can't risk option over night no more

@BestStockStrategy option isn't bad, in as much as you're not been greedy with it. The rule is to get out fast once u start losing or u see it going towards ur opposite prediction

@BestStockStrategy i know its a lot but i don't mind doing at least one day trade a day for every trading day. Can you recommend 9ne?

@BestStockStrategy i trade with robinhood but still searching for the best broker to day trade with. Don't mind paying $30 for each trade

@BestStockStrategy did you Lose a lot of money while day trading ? Thank you for answering my questions.

@BestStockStrategy which scammer were you learning day trading from?

@AWESOME No. I just tried day trading because I thought I was special and smart. And then I learned that being special and smart doesn't matter when you're gambling and have a 99.8% chance of losing money and... Even if you're the .2%, you're only making 5% a year.

@BestStockStrategy you were scammed by Tim Sykes in the beginning?

@BestStockStrategy have you ever tried day trading ?

@BestStockStrategy how did you find about selling premium and it's profitability?

@BestStockStrategy but if the traders blew up. Would smb Lise all their money bcs the traders trade with smb capitals money?

@BestStockStrategy of they were fake they would not dedicate everything to day trading right?

@BestStockStrategy Good question - sued in any court I suppose. I didn't realize these scammers were already launching frivolous lawsuits against people speaking up about them. I guess with their livelihood threatened, it makes sense they would lash out trying to redact negative reports and comments.

@DavidBenson215 cool. Keep doing what you think is best

@BestStockStrategy indeed. I feel that select few people who dont want to learn option selling, they would be better off in long term investing is safer stocks like Msft, and hold for at least 3 yrs. Its ytd is normally 17%. Much better than gambling on day trade.

@Tony White Would not natural expenses chisel away a portion of this?

@Tony White So, Tony: What should he do going forward?

@BestStockStrategy i know you are probably resistant to quote percentages to this guy, but dont think it would be unreasonable to expect 5% monthly selling puts with fairly low risk of loss over the long haul. Thats nearly 10k per month, and tax free until he breaks even. Not bad.

I know you wont do it but it would be awesome if you could get yourself demonetized because Jason bond is getting annoying

How would I get demonetized? Wouldn't I need to discuss controversial stuff, use copyrighted things or turn off ads on the video? Or am I missing something?

I registered a year ago with IQ option and a phony binary option website lately. I lost a lot and made much more a month later. I withdrew it and then started to deposit more and more money until I had lost everything.i now have lost about $71000 in total and am in debt with my credit card maxed, my overdraft maxed and a loan to pay. However, I have been able to recover all the money I lost to the scammers with the help of a recovery professional and I am pleased to inform you that there is hope for everyone that has lost money to scam. you can find out more about them on Quora, shawnperrylive@gmail. com

Sounds like a scam

Impressive info David... Thank you

Thank you

Damn anybody who admits shining a light on their balls gives ZERO Fucks about what anyone thinks.

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