#2 - Risk Everything To Be Successful Trading Options

Episode of: The "Daily Call" From Option Alpha

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Oct 1, 20175m
2
#2 - Risk Everything To Be Successful Trading Options
Oct 1 '175m
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In this first pilot episode here for the daily call, I want to talk about this concept of risking everything now to be successful. It doesn’t matter if you want to trade options or you can honestly replace options trading with – I want to be successful doing X, whatever it is, in your job, in your relationship, your family, career or business. It doesn’t really matter. But I don’t think enough people have this concept of risking everything now, so that they have no regrets later on because what I don’t want in my life more than probably anybody I know is I don’t want to have the regret of – “Man, I wish I would’ve done this.” or “I wish I would’ve really taken the time and the effort or the energy, the money I’ve invested in this thing.” Whatever it is, it doesn’t matter. I’m saying you can use options trading, you can use whatever. But not enough people risk everything now to be successful later on. I think you have to really think about that as you continue to move forward. Investment doesn’t always mean money. Yes, you have to invest in education. Yes, you have to invest in technology. Like I had to invest in my wife. When we got engaged, I bought a ring because that’s what you do. You buy a ring for the people you like, so you invest in money there. But it’s also time and relationships.

What I think you should really do as you start this journey in options trading or even if you’re in the middle of the journey is make sure that everything you’re doing is aligned appropriately with where you want to be. Are you really focusing on options trading? Are you really putting in the time or are you just putting in 70%? You’re just like, “Oh, okay. I’ll do it because I know I have to do it.” But you really don’t care. You really are not trying to learn. You’re trying to just go through the motions and check the boxes, complete the courses, so you can say you completed the courses, but you’re not really trying to understand, you’re not really trying to master the craft. That means also that you have to put relationships and other activities on the back-burner. I say relationships with people you don’t want to have relationships with. There are probably people in your life that you really don’t care to have a relationship with and that’s okay. Now your family, your wife, your kids, your immediate family, your spouse, your significant other, if you care to have a relationship with that person, I’m saying make sure you carve out time for that person, but cut all the other junk out and risk everything now to slim down and make this as successful and as profitable as you possibly can.

The beautiful thing about trading options and just generally being an investor, an entrepreneur, a business owner is that when you have no money, there’s nothing to lose. If you have little to no money and you’re starting out this journey, for God’s sake, what do you have to lose? You’re broke now, conceivably broke now. I’m not saying you are, so don’t read into that. But you’re almost broke now, so what? You put something on a credit card, you add an investment in education, you spend more time doing this versus trying to find another job. What is the downside to that other than you’re going to be a little bit more broke than you were before? But there’s not too much downside to this if you risk everything now. I guarantee as you start to earn and generate more money, it becomes harder to risk what you have because you covet it and that’s where I’m at now after doing this for 10 years. I’m at a point now where I don’t know if I would’ve made the same decision that I made when I started with my wife and decided to start trading fulltime at home. I don’t know if I would’ve made that decision now with two kids and obligations for them and other things. I don’t know if I would’ve made that decision. If you’re in the position now to risk everything and to invest your time, your money, cut out all the activities you know you shouldn’t be doing anyway or just distract you, I think in a couple of years, you’ll find yourself exactly where you want to be.

I hope this concept makes sense today. It’s something that I think about all the time, is I don’t think that… I see people all the time who want to be successful, they’re excited about being successful, but they don’t ever make a commitment, they don’t take that actual leap of faith, that risk that is needed or required as payment for success later on. It doesn’t mean it’s going to happen overnight, but it definitely means that you’ll be on the right path, that you’ll get to where you’re going if you make the sacrifices now to get there. Hopefully you guys enjoyed this. Until next time, happy trading!

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