Option Trade Like A Casino to Make Money (August 2023 Cash Flow)
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- čas přidán 27. 06. 2024
- Option Trade Like A Casino to Make Money (August 2023 Cash Flow)
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Chapters
0:00 Intro
0:35 How a Casino operates (3 keys)
1:18 How to Option Trade like a Casino?
1:40 (1) My Option Trading Edge
1:55 (2) Risk Management
2:39 How I Manage Risk
3:40 (3) Manage Emotions (Casino's do it and so should you)
4:24 Option Trading Cash Flow from August of 2023
5:28 Outright Dividend Stock Portfolio Cash Flow
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To become a successful option trader, it's crucial to approach it like a casino. Let's explore how casinos operate and how you can apply similar principles to option trading:
*1. Find Your Edge:*
Casinos have an edge, which comes from how they structure their games. In option trading, you can use technical analysis to enter higher probability trades. Look for opportunities when volatility is higher than normal, such as after a recent stock decline. Your edge should be something you've learned and refined over time.
*2. Manage Risk:*
Casinos cap how much can be bet on any one hand to manage risk; for instance, in blackjack, there might be a rule limiting the maximum bet to $2,000 per hand. Similarly, in option trading, you must manage your risk. Consider using credit spreads, buying insurance with put options, or keeping cash aside to cover positions when selling put options.
*3. Emotions Have No Place:*
Casinos don't let emotions influence their decisions, and neither should you.
Now, let's see how much we pocketed last month using these strategies, staying true to the casino-like approach, where we're not gamblers but strategic option traders.
Happy investing!
Randy Perez
#retirementincome #tradingmentor #tradingsystem
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📺 Watch Next: How to Retire with only $250,000 using The Option Wheel Strategy on SPY: czcams.com/video/KCZ4YFqP6ZE/video.html
My Option Trading eBook:
📕 Get a copy of my eBook "New Beginnings: The Option Trading Story" amzn.to/2OgXx58 📕
📈 Purchase My Spreadsheets (as seen in my videos): etsy.me/3HHq5ge
Thanks to your strategies I'm up 36% on the year! Thanks so much! I've learned so much from your stuff!
Nice work! Thank you for sharing.
Appreciate your videos Randy👍🏻
Thank you for that 😊
Hey Randy, love your videos. Do you post the trades as your are placing them? I've been on discords where the trades are posted way later and the premiums are very different. I'm definitely interested in joining and learning but I just want to make sure that I don't pick another losing strategy.. Thank you!
Thank you. If you join at the Live Alerts level, then yes. As soon as I know a trade has filled, I send out an alert.
Here is a video talking through the various levels that might help: czcams.com/video/Ve_P62GhX1M/video.htmlsi=AP8vUrhJLnVHbRRh
Can you please teach us how to Backtest a cash secure Put option trade you’ve done on a specific company like LAZARD?
Thank you for the suggestion! That subject is one of my future videos. It's in the works.
130 individual positions on one of your accounts?
Um. K.
No idea how you can keep up on that many companies.
We don’t trade in and out of those positions. I pretty much buy and plan to just leave those alone and never do anything with them.
Some of them, over the next 20 years will probably go bankrupt. And others will go to the moon. However, it’s a buy and hold Portfolio.
I watch looking for trading opportunities in almost 300 companies and ETFs. However, in my main option trading account, I generally have 35 to 45 active option positions.
Are you getting that interest from your brokerage account?
Yes 👍
So u made 20k last month on 600k or 2m? Margin? Seems incredible return. What's ur annualized return in cash? Thanks.
You can find all our numbers in this video series: czcams.com/play/PL3j38I2YtGw0W9xSkNpaOw73OmuEA5xf9.html
Wonder how tempted you’ll be to trade options on your dividend account eventually. 😅
It will be difficult. But I’ve pretty much decided that instead of selling CC against the individual stocks in that outright account, I’ll just sell call options against the overall market, like XSP.