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I had the pleasure of rebooting our Trader Meetup Group in Boulder last night. This was our first gathering in more than a year since the pandemic started. There’s nothing quite like hanging out with like-minded traders in person and swapping war stories.  Here’s a great anecdote that was shared with me last night by...
The simple truth about making money trading in any time frame is that the math works best when losers are cut quickly and a handful of large winners are allowed to run wild. It only takes a couple trades to make my week, month, or year.
It’s never fun taking losses. But a smarter trader than me once said: “If you’re not willing to take a small loss, sooner or later you’ll suffer the Mother of all losses!”  In other words, all big losses start out as small losses. Kill them while they’re small. The name of the game is avoiding...
Years of my trading career have been lost by trying to be something or someone I’m not. I’ve been inspired by and wanted to be like all kinds of people throughout my career. But I didn’t start becoming the Trader I am now until I just started to be myself. It wasn’t until I looked...
It’s never the losing trades that hurt. It’s the missed opportunities that piss me off more than anything.  Here’s a real world example from my personal trading this week: On Monday, I bought shares of $MJ, the Alternative Harvest (read: marijuana) ETF at $24.09. Within minutes of my purchase, it began to take off. It was...
I recently started broadcasting short videos on YouTube highlighting ideas for a super-aggressive cash flow strategy using SPY options. Going into this endeavor, I had confidence my ideas were sound and profits were a foregone conclusion. I’d thought through the strategies every which way but sideways. But it wasn’t until I got into it with...