Quote from drmark27:
"Karen the Supertrader" has been featured on Tasty Trade twice (both sessions are available on YouTube). She turned $100K of her own money into $800K or so and then started raising money from others and now trades two or three funds that have amassed $105M in trading profits all from selling naked strangles.
I think the whole story is a fraud. Any thoughts?
The best time to sell naked puts is when the market is in a strong up trend... such as since the Fed's Money Pump market, 2009-current.
However... selling naked puts on leverage has blown out famous/infamous money manager Victor Niederhoffer.... AT LEAST TWICE!
There is NO strategy which is "safe" or "assured of success". To succeed you must (1) make the right play at the right time, and (2) cash out and stop trading before the market gets you.... no easy task on either count.
"You got to know when to hold 'em...
Known when to fold 'em
Know when to walk away
Know when to run
You never count your money when you're sitting at the table
There'll be time enough for counting
When the dealin's done..."
IOW... You haven't really won until you quit with the money in your pocket.
The final word on "Supertrader Karen" hasn't been written yet. (Corrolary... "Best not to confuse brains with a bull market".)