What you see is what you get…
I am a professional trader. Very simple - I derive a majority of my income from buying and selling or selling and buying various asset classes for a profit, some of which are options. I have both fantastic and poor, and often in-between months but generally at the end of the year have earned enough cash to live very comfortably in my 6000 square foot seaside condo and have grown my capital for my family’s future.
I plan my trades. On the side, I write this “newsletter” for premium fee paid subscribers every weekend and tell them exactly what I will be trading in the coming week. My plans are based on years of research and real trading of a system based on historical behavior of stocks and options during each earnings season.
I trade what I say I’m going to trade - When able, I comment to these posts or send refinements out on Telegram to annual subscribers. As many know, I’m an international executive living in far off lands and often wake up in the middle of the night to do so… That 3:30 to 4:15 AM window can be rough, but it has become a lifestyle.
I unlock the previously posted plan and/or publish the results of my trades at the end of the week for all free subscribers of Green Goose Trader.
This is called transparency.
But it also serves a purpose for me - it is a public record of my own personal trading. What you see is also what I get…
Anyway, over the years, I’ve been involved in various chat groups and have developed a core group co-mentors - ones that I know are trading. Chat groups are a great place to meet like minded traders and learn from those that are actually trading (if you can find them). Some of them are grinning as they read this post. They are going to grin even more when they read below…
Rupam Deb runs an very interesting options educational service in Singapore called MoneyWiseSmart. (He’s one of the core group of my co-mentors.) He gave me permission to present the following survey he recently did on one of the larger options trading social media platform…
No surprises there right? Actually - I was surprised as in my experience over 90% of people lose money trading options, unless educated of course. I did a lot of educating at optionsplayers.com before being expelled after the owner felt threatened by my transparency. (Yet I still recommend membership in the group…)
Rupam took his survey further.
This is actually mind blowing. A large percentage of the 41% respondents (1st poll) who claim to be ‘making money’, are actually lying. The results point us in the direction of the established fact that over 90% of people who trade options end up losing money.
Interestingly, Rupam was expelled by the options trading social media group for the above. By the way, I don’t participate in chat groups anymore. I prefer to spend my time actively trading and thinking up creative educational content for Green Goose Trader, just like Rupam does for his MoneyWiseSmart.
I’d be curious to know readers honest experience on the above either as a comment below or privately. If you think this is full of shit, say it. I won’t delete any posts.
That is called transparency.
Bending the truth
Always an interesting question.
Personally, if I had remained a daily bar trader and not dreamed up systems that work going into the next day, I'd probably be in the losing category.
But, because I do and have dreamed up many trading systems, (over 100 by now) designed to catch the coming move, and created ways to project a target, I place myself in the winning spot.
And all that goes to reading the candles and a whole load of thinking before doing!
ARF