Ok, got your point. I'll never mention the millions anymore, like you said, it ain't fun. I promissed to reveal my strategy and intend to keep that promiss. I am a man of word. I got suggestions to open a separate thread and I'll do it. I believe in sharing. So, when someone makes it big, he/she should share the knowledge or whatever it is so others can follow and maybe improve it even more. That's called progress. No matter how much effort you put into keeping success as a secret it eventualy gets out one way or the other. Hell, I wouldn't make it big if there were not people willing to explain or pointing out my mistakes and I made a hell of a lot mistakes during this development. Yes you're absolutely right about my people having this energy and willpower to succeed, well the majority, not all. I believe the main reason is the hard times we lived in the not so far past. We had to work as twice as hard as anybody in Western Europe. I remeber working two jobs at the same time to make enough for a living. I was at work when my 2nd son was born at 5 AM. That's not the way to live a life. I also remember spending with my kids just an hour a day when I get back from work just to tuck them in. Very often I couldn't make it. I have been already at work when they woke up and they were asleep when I made it home. After some time, that was the turning point for me to seek option for a "better life" - work less, earn more, so I discovered trading. Now, back to the point, you'll be surprised how simple, not easy, it is to make big profits with a correct mind setup. Cheers - Živeli
Well ....we are waiting. C'mon spill the beans. Simple usually is better. Simple is easier to understand but not easier to grasp. Simple is easier to multiply or replicate. Simple is good. It is extremely hard and complicated to make something simple. You probally have nothing to fear. Most will not accept something simple. So......spell out the whole enchilada.
Spell it out...CREIGHTOR...re-arrange the letters... and you get: "Got Richer". Profound. Although I bet Mr Budapest didn't figure that one out. They may be smart... but us Yanks are clever.
I asked myself the same question 30 years ago. I can make 100% return buying an option and selling it within a few days. How long will it take me to turn a $1000 into $100,000. Strategy: 1,000 - 100,000 in 7 trades 1000-2000 2000-4000 4000-8000 8000-16,000 16,000-32,000 32,000-64,000 64,000- 100,000 The biggest challenge with the strategy is liquidity. What I learned to do was not take profits in the options once the size got bigger. You must always liquidate in the underlying product which has 10 times the liquidity of the option. The beauty of the strategy is the set goal so you don't second guess when to get out and the compounding effect kicks in. The question then becomes what is the probability of being right 7 times and get the order filled and liquidated. When your wrong once, the position is wiped out. My refinement went from buying otm to deep itm with no extrinsic. Now the market has to move big against you to be wiped out and making 100% return is still realistic. The final variable is time to make this successful. Read "A Brief History Of Time" by STEPHEN Hawking. This is the key to success of the strategy. The end game is to have TIME to travel the world to uncover new opportunities and continue learning.
Well, you can.. But the probability of success drops to almost nothing. There's higher probability of turning $1000 into $1100 than turning $1000 into $2000. You can buy a powerball ticket and turn 10 bucks into millions, the probability of success is infinitely small. So I would say it is "dumb luck" yes. It have nothing with skill to do at all.
But if you go to deep ITM, the odds of doubling becomes quite small? I know time is a factor but ultimately it is still a directional bet? Appreciate your comments. Regards,