I hope you found this video helpful if your goal is to trade for income. What else would you like to see cover in a video? Let me know in the comments. Recommended links and videos: Growth Trading vs Income Trading: th-cam.com/video/7aosZJwQ-kc/w-d-xo.html Wheel book: www.rockwelltrading.com/wheelbook Trading With Margin: th-cam.com/video/UHy84SOGl4Y/w-d-xo.html PowerX Strategy Book: bit.ly/2wMQ7zW Theta In Options: th-cam.com/video/kSZWxk3qCZI/w-d-xo.html Wheel Playlist: th-cam.com/play/PLBa3sAx-Io2mybLLdWtbjTFqK9-BR5SJb.html
I would NEVER EVER trade 100%, let alone 2X of my cash. I did trade the Wheel last year with 2x my cash. BIG MISTAKE!!! Ended up being assigned and despite stocks were good stocks (TSLA, AMD, DIS…) they dropped significantly in Q1 this year and got margin called and lost so much $. I would NEVER do that again.
Thank you Markus. It is very important to become debt free before trading and even better when your home is paid off. It can be done. We used the Dave Ramsey program and became debt free including the house in 12 years. Less stress and keeps emotion out of trading. Wishing everyone the best! t.
Howd the college trip go with your son? I have 5 little kids lol oldest is 13 so that moment is rapidly approaching. I work as an ICU nurse make good money I'm just hoping to make enough to scale back. Paying all my Bill's with trading would be a huge accomplishment. Today was a huge accomplishment actually selling my calls without waiting for the gains to get bigger. I sold at 50 percent, but in the past had waited on the same stock and lost the money. I almost got killed ran out the gate and bought 26 positions 2 mos ago slowly decreasing and adding better strategies. Spend much more time watching and reading. Fortunately didnt lose a ton, but it was very reckless.
I personally wouldn't worry about that. I would start with a small amount like $5k and grow it. You see what you can do to grow it, know what percentage you earn and can figure what amount you need to grow it to maintain the living style you want.
I see you on Premarket Benzinga every week. I love the wheel strategy, Just ordered the book. Today I locked in $462 on selling 10 puts on WISH. A small win but it is a win!
Given his LLC business and RE holdings I guarantee you he doesn’t have to withhold $5K of that amount. I hope he responds but im pretty sure given all that above he does his taxes quarterly but its not in isolation of this income strategy. I do my taxes quarterly and i have consulting income and trading income combined.
In an IRA you don't worry about profits until taxes are a factor. It's best to plan ahead to avoid penalties by the IRS. You can increase you withholdings or send the IRS money monthly or quarterly. Best to talk to a tax accountant.
Ooh I love the bundle idea, I was wondering about that. Also looking forward to see you grow a small account! Thank you for your videos they are very helpful and inspiring👍🏻
Hi Markus, What is your rough estimate tax you will be paying on you 180K Annual goal? I know its depend on individual and of course you have other business but if you can give me an idea please
Hello Markus.. can you please explain how RIDE is only using 20k in buying power on your acct? I believe you have thousands of shares now at an avg price of what $17 or so.. that's a lot more than 20k
My goal is to get my account to $100k in the next year and then reduce my working hours slowly as income increases and do this full time alongside you and my best friend Jake who told me about you! Thanks for everything you do 👏🙏👍👍
I tried to make sense of your money management fixed ratio technique from your book that I purchased on amazon - the wheel strategy. How does profit per week go up so fast? It's driving me nuts as I cannot make sense of your excel.
Markus, I was wondering if we can grow an account consistently via swing trading instead of day trading options which many people are doing on TH-cam. This is because some of us folks have day jobs and couldn't be sitting on the computer all day. Could swing trading be done to grow an account? Maybe via bull call spreads, bear put spreads or even naked calls and puts
@@bluesky5587 agreed, but it requires a bigger capital in case the shares get assigned. Indeed planning on trading the wheel but for starters would need to grow my account first.
Nio has been doing fantastic for me as well. Sure open P/L is down but realized profits just keep coming in, about 10% return in realized profits so far (about 3 months).
Same for me but i did bring down my avg price through rescue missions quite ok. Just keep going lowering your base and selling calls. One time we hopefully get called at cost
Probably a newb question but how are you able to trade for income - taking 30% profits - & NOT have Capital Gains Tax eat your ROI back down to a 5% net? Your accountant must be as ingenious as you.
@@gordontomaszewski1420 to make 30 percent a year every year with the wheel the market would have to go up or trade sideways and never drop more than 10 percent from now to eternity. New traders are going find out one day that’s not reality. I’m still waiting for ge to go back up to $40 so I can get out of it Lol. I’m not giving up hope it’s only been 2 years
30% ROI on BP... 60% on cash... this is a joke. Don't listen to this guy. Totally misleading approach and absolutely ill-advised about the one will have to take to make such a return. He doesn't even talk about the tax impact. Come on
![KRK - ชนิสรา Ft.WanMai , N/A [Official MV] Prod. By Sakarin](http://i.ytimg.com/vi/C-WMwwYobcU/mqdefault.jpg)
I hope you found this video helpful if your goal is to trade for income. What else would you like to see cover in a video? Let me know in the comments.
Recommended links and videos:
Growth Trading vs Income Trading: th-cam.com/video/7aosZJwQ-kc/w-d-xo.html
Wheel book: www.rockwelltrading.com/wheelbook
Trading With Margin: th-cam.com/video/UHy84SOGl4Y/w-d-xo.html
PowerX Strategy Book: bit.ly/2wMQ7zW
Theta In Options: th-cam.com/video/kSZWxk3qCZI/w-d-xo.html
Wheel Playlist: th-cam.com/play/PLBa3sAx-Io2mybLLdWtbjTFqK9-BR5SJb.html
Thanks a lots Markus, great learning, I am got much comfortable and confident about wheel option strategy.
We are glad that you are getting comfortable and confident with the strategy! Keep it up!
I would NEVER EVER trade 100%, let alone 2X of my cash. I did trade the Wheel last year with 2x my cash. BIG MISTAKE!!! Ended up being assigned and despite stocks were good stocks (TSLA, AMD, DIS…) they dropped significantly in Q1 this year and got margin called and lost so much $. I would NEVER do that again.
I appreciate you sharing your experience. It's valuable.
Why didn't you roll?
Thank you Markus. It is very important to become debt free before trading and even better when your home is paid off. It can be done. We used the Dave Ramsey program and became debt free including the house in 12 years. Less stress and keeps emotion out of trading. Wishing everyone the best! t.
Awesome! Thank you for watching! :)
Howd the college trip go with your son? I have 5 little kids lol oldest is 13 so that moment is rapidly approaching. I work as an ICU nurse make good money I'm just hoping to make enough to scale back. Paying all my Bill's with trading would be a huge accomplishment. Today was a huge accomplishment actually selling my calls without waiting for the gains to get bigger. I sold at 50 percent, but in the past had waited on the same stock and lost the money. I almost got killed ran out the gate and bought 26 positions 2 mos ago slowly decreasing and adding better strategies. Spend much more time watching and reading. Fortunately didnt lose a ton, but it was very reckless.
I personally wouldn't worry about that. I would start with a small amount like $5k and grow it. You see what you can do to grow it, know what percentage you earn and can figure what amount you need to grow it to maintain the living style you want.
I see you on Premarket Benzinga every week. I love the wheel strategy, Just ordered the book. Today I locked in $462 on selling 10 puts on WISH. A small win but it is a win!
Awesome! Enjoy reading it and learning from it! 😉
Markus how do you prepare for taxes? If you make 15k do you set a side 5k every month? Or do you sell some positions when the taxes are due next year?
Given his LLC business and RE holdings I guarantee you he doesn’t have to withhold $5K of that amount. I hope he responds but im pretty sure given all that above he does his taxes quarterly but its not in isolation of this income strategy. I do my taxes quarterly and i have consulting income and trading income combined.
In an IRA you don't worry about profits until taxes are a factor. It's best to plan ahead to avoid penalties by the IRS. You can increase you withholdings or send the IRS money monthly or quarterly. Best to talk to a tax accountant.
Very helpful video. Thank you!
😊 You are welcome! I am glad that this helps!
Ooh I love the bundle idea, I was wondering about that. Also looking forward to see you grow a small account! Thank you for your videos they are very helpful and inspiring👍🏻
😊 You are welcome! I am glad that this helps!
THANKS FOR KEEPING IT REAL MH! :-)
😊 You are welcome! I am glad that this helps!
Excellent info. Much appreciated
Awesome! Thank you for watching! :)
Hi Markus, What is your rough estimate tax you will be paying on you 180K Annual goal?
I know its depend on individual and of course you have other business but if you can give me an idea please
Close to 37percent I believe for an individual, but if under his brokerage company it will be taxed as a business which may be less I believe
Hello Markus.. can you please explain how RIDE is only using 20k in buying power on your acct?
I believe you have thousands of shares now at an avg price of what $17 or so.. that's a lot more than 20k
He has portfolio margin that helps.
What is a good options analyzer software? Thank you for all your advice and training.
I am using my software the PowerX Optimizer. Do you want to check it out?
My goal is to get my account to $100k in the next year and then reduce my working hours slowly as income increases and do this full time alongside you and my best friend Jake who told me about you! Thanks for everything you do 👏🙏👍👍
That is awesome! And regards to Jake. Thank you for watching. 😊
great info. Thank you!
😊 You are welcome! I am glad that this helps!
when I check margin account on robinhood, it is an APR based. I am little confused. is it normal or how you guys play out this?
I tried to make sense of your money management fixed ratio technique from your book that I purchased on amazon - the wheel strategy. How does profit per week go up so fast? It's driving me nuts as I cannot make sense of your excel.
Markus, I was wondering if we can grow an account consistently via swing trading instead of day trading options which many people are doing on TH-cam. This is because some of us folks have day jobs and couldn't be sitting on the computer all day.
Could swing trading be done to grow an account? Maybe via bull call spreads, bear put spreads or even naked calls and puts
Trading wheel requires zero time in front of Pc ....it actually requires less time than swing trading ..it is all mechanical.
@@bluesky5587 agreed, but it requires a bigger capital in case the shares get assigned. Indeed planning on trading the wheel but for starters would need to grow my account first.
Target 30% ROI.. is including also trafes went bad or it is just a kind of dream / hypothetical goal?!
This is based on my own experience and results. 😊
I ordered mine but I haven’t received it yet
Hi Kodjo, please email support@rockwelltrading.com so that we can send you the tracking details.
Does tradier brokerage allow for tax harvesting?
My Nio has gone from 44k in the hole to 19k thru rescue missions
Nio has been doing fantastic for me as well. Sure open P/L is down but realized profits just keep coming in, about 10% return in realized profits so far (about 3 months).
Same for me but i did bring down my avg price through rescue missions quite ok. Just keep going lowering your base and selling calls. One time we hopefully get called at cost
👍🏻👍🏻
Thank you! :)
👍🏽😃🙏🏽
Awesome! Thank you for watching! :)
$5,000 a month
That is awesome! :)
Probably a newb question but how are you able to trade for income - taking 30% profits - & NOT have Capital Gains Tax eat your ROI back down to a 5% net?
Your accountant must be as ingenious as you.
Hi Matty, I'm explaining it in THIS video: th-cam.com/video/yaTgAp9EZAE/w-d-xo.html
Does this help?
@@rockwelltradingservices FANTASTIC! Thanks so much, Markus!
Lol. If A trader could make 30 percent a year year free year forever. He would be famous. Not realistic.
Ever hear of a Roth IRA ?
@@gordontomaszewski1420 to make 30 percent a year every year with the wheel the market would have to go up or trade sideways and never drop more than 10 percent from now to eternity. New traders are going find out one day that’s not reality. I’m still waiting for ge to go back up to $40 so I can get out of it Lol. I’m not giving up hope it’s only been 2 years
30% isn’t unheard of at all.
Smh
30% ROI on BP... 60% on cash... this is a joke. Don't listen to this guy. Totally misleading approach and absolutely ill-advised about the one will have to take to make such a return. He doesn't even talk about the tax impact. Come on
Suit yourself. And FYI this is an old video. You should watch my live show later here th-cam.com/video/pVJ101YxS6E/w-d-xo.html
Thanks for your reply. I'll have a look at the link when I can.@@rockwelltradingservices