His Path to Millionaire Options Trader
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- เผยแพร่เมื่อ 2 ส.ค. 2024
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Today we get a sneak peek inside the mind of a profitable options trader. Steve began his career in electrical engineering as a defense contractor. This step in his career unveiled that employee life was not for him. Determined to discover a new career, he found himself with a passion for trading. Steve embarked on his full-time, successful trading career in 2007. In today's episode, he highlights the differentiation between traders with awareness of what they do know versus those unaware of what they don't know. He also dives into the different markets he has endured and the struggles he encountered.
Follow Steve on Twitter: / stevenplace
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He’s making options more complex than it is. The reason ppl get in options is bc a half percent move in a stock like aapl can profit you 30%. It’s all timing and chart reading. Forget the other noise
Zeus, actually options trading is very complex endeavor. However most individuals don’t utilize this profession to its full potential. It depends what you’re looking for in this very interesting options world.
@@robertz1962 at the end of the day, we're just trying to make money. Unless this guy is actually using options to hedge his stock positions (which is what options was meant to be in the first place), there's really no justification to over complicate it. As the guy said, it all comes down to your ability to choose a market direction.
The fact that you watched this video and came out with that reply tells me you don't know much about options trading. There are so many other strategies you can benefit from aside from going long an Apple Call lol.
Well he did mention there’s times where he thinks just go long or short based on what direction he thinks it will go
@@DavinTrades there's a strategy for everything. Doesn't mean you should bother yourself doing it though. Most of your profits will be made from just a few of those
Good interview, please can you get more options traders on your show. Keep up the good work 👍
Hey Alex this episode was a really enjoyable one for me because I actually understood all the options lingo. I have been crazy studying options and working on developing profitable strategies for that last two years. I've finally made some major breakthroughs and am getting regular returns that would seem unbelievable to someone who is looking in from the outside. I really enjoy all your shows and look forward to seeing them come out. I wish I had a network like y'all seem to have but hopefully one day that will start happening for me. Thanks again buddy.
What's the strategy??? 👍
Hey Alex. A couple of reasons why someone would trade Options over Stocks is that with Options you can profit from either direction (delta, gamma), Time Decay (Theta - Selling premium) or Volatility (IV, Vega ) . So it's more versatile and has returns that rival pennystocks 😊
I went down the advanced option strategy rabbit hole in the beginning. I found learning direction and knowing the charts is always far more important that what instrument you are trading. Complex does not mean more money. Great interview!
Thx for watching Spencer
True. I think the pipe dream for options traders is making money without having to speculate lol. So they over complicate everything and at the end of the day end up being wrong anyway 🤣
Appreciate this interview, as the focus on options was well done! Great to hear about the past challenges and insight gained from options trading experiences.
He is exactly right. Not all strategies work in all markets. Trying to pick your favorite strategy and pigeonhole it into every market is the road to ruin. He is also correct in saying people need to know what direction their bias is and sideways is also a direction.
This was probably one of the better interviews I've seen you do. He talked a lot about what I have experienced and have gone through.
Are you saying that like him you have noticed getting a harvestable edge in options trading is more difficult now than before? He is trying to branch out of options and into equities futures and straight equities and wishes he had done this sooner.
Awesome interview! Second I greatly appreciate your channel, I’ve learned a lot from the guest you being on.
Wow thx Arne!
Thanks for the interview. Please get this guy to talk options for longer. There is a lot in this dude'd head that didn't have a chance yet to come out. I want to hear more.
Thanks for the interview Alex. I hope you interview more options traders in the future.
Thanks for watching kris!
Great interview! I love trading options so enjoyed his strategies.
Great interview! Would love to see some more interviews with options traders. Maybe JDun from Team Bull or Rake Trades. Those interviews would be killer.
This was awesome. Thanks guys!
This is the first interview I've seen with another options writer I was super happy to have caught this one
Great interview...options are awesome.
Thanks for the interview please put up more options info. Idk about this guy 😂
8:47 - my heart jumped as I was stocking shelves in the liquor store...
I’ve been selling premium both bullish and bearish in this market. All comes down to risk mitigation.
Hey just saw this…can you show us your P&L on that day? Would like to see your set up and exit. That would be the most helpful for people. 83,000 is a very very high number in such a short time frame.
very good content pls interview more option trader
This is a great video, I learn a lot watching your videos and it has been helpful to me. Building a steady income is quite difficult for newbies.. Thanks to Mrs. Lora Friedman for improving my portfolio. Keep with the good videos
I'm new here please how can I reach to her?
You can communicate with her on telegram with the username below...
investwithLora,,,, is her user name..
Greetings, I’ve seen positive reviews of this Mrs Lora Friedman for about the fourth time now, I think I’ll have to give it a try.
Thanks for the recommendation, I will write to her to start my investment
Awesome 👌
2020 was the best year of trading I ever had. Had a kid in 2021 and still haven’t been able to get back to what I had in 2020 as far as focus and consistency.
Do you only interview penny stock traders?.
I really don't think now is a good time to be implementing complex options strategy. Keeping it simple myself. I did like the interview.
My average in the last 42 trading days has been $297.54/day (25 green days and 17 red days). Maybe that qualifies me as a consistent profitable trader or do I have to keep this up for several more months?
OBVIOUSLY you need to be able to do this for a lot longer than that.
Try being profitable every month for a whole year.
That is incredible 👏. I started three months ago and am losing daily still.
Hopefully it turns around soon.
@@neilmac4730 Update: i will be honest, currently I’m now on the red due to several bad trades and “learning” with options trading. I’ve basically managed to revert 3 months of gains. Lesson: never ever feel like you’ve got it and become too overconfident. Best is still to try and trade companies with good fundamentals, yet on a bull market. This current market is hell.
Do felony or aristotle or some from the Honeydrip team!
The flaw with these "smart" options traders is they try to have an options strategy at every point in time that they are presented with. That's just gambling imo.
Trading is about waiting for the "setup" that you have tested countless times to be profitable. Not just theoretical. Because "IN THEORY," there is a profitable options strategy for everything. But in practicality, that's not what usually happens.
Well said!
Do you know a guy named Bryce, if so do you know what discords he is on.
why you sayin
you appreciate the glass break lmaooo 😂😂
how can I find this guy
Every crash /collapse/inflation or a recession offers an equal market opportunity if you are well prepared and knowledgeable. I've seen people accumulate up to $800,000 during crises and even pull it off with ease in a bad economy. Without a doubt, the bubble or crash has made someone extremely wealthy.
Dude is HUGE relative to B!!!
You gotta get Carmine Rosato on here. He literally breaks trading down so simply. Imo he’s the best trader on TH-cam
I agree! That would be awesome! His TH-cam channel is gold!
Im pretty sure they road with the emperor or generals at their triuphs? Ya they held the crown and whispered/said were "only human. Etc". Maybe they got creative.
Is great how this guy was right about china over a year ago everything that he said is happening right now march 2024 about china.
When an engineer becomes a trader...God bless him 😆
Lol right. Thx for watching abe
This whole interview was pretty Vega to me…!
I can tell his real income comes from selling newsletters because he talks way too much
Watched whole video i missed the 80k comment
Your audience eyes are glazing over.
Thx for watching !
Lol i would to 2 years ago but after 2 years i get what he is saying i havent lost money in a while now. I just made 88 percent in lulu lemon going down. It was obvious for me. Made 2k in 20 minutes. Options can be beautiful but you could loose what you bet on the option. In 20 minutes too.
The comments on options selling are misguided. It’s a yield enhancement tactic for value based long term investments. That’s it. You’ll only get “run over” if the underlying is an overvalued POS business. Options buying is a completely different strategy. A good options selling strategy is directionally indifferent bud.
He appreciates the broken glass mans operating system broken
Lol Thx for watching
Way too much noise.
this port cast is just a vesting time, you should more talk about how they trade and strategy they use, 90% of time used for person stuff, not helpful, please next time keep conversation around main topic.
💯 📈
Let's cause our own low-tech ghetto version of a merger war
WOW this guy loves beating around the bush in every answer he makes 😂
Like holy shit just answer the damn question I don't need 3 metaphors to understand what you're trying to tell me 🤦
Great interview with a smart interviewee, though the focus is on looking smart unfortunately rather on being straightforward…
I can tell he is very smart. I don't think he is trying to look smart he just has a Beautiful Mind.
this is just a waste of 34 minutes
This guy is not profitable.
😂😂
I fkn hate cobra trading
boooorrrriiinggggg
Thx for giving it a shot Brat