53 min
2 Bulls In a China Shop PLus Allen The Option Genius Podcast: Options Trading For Income and Growth
-
- Investing
Welcome Passive Traders to another special edition of the Option Genius Podcast. Today I have something a little bit different for you. I was interviewed on another show called "2 Bulls in A China Shop" by a company called Financial Ineptitude. That's actually their name,Financial Ineptitud. Basically, it's two guys. You know, there are really cool guys named Kyle and Dan, and they've been talking about trading for a little bit. They've been trying to learn how to trade and so they made this podcast to basically help them get their thoughts out, and to record all of their lessons. Their website is really cool. Their podcast is two bulls in a china shop and I'm going to include the interview that they had here as an episode because I thought it was really good. It was a lot of fun. And hopefully you guys will get something out of it and learn from it as well. So again, that's "2 Bulls in A China Shop" by Kyle and Dan. Enjoy the episode.
We're so glad you've joined us today, folks, today is a very special day, we've got a fantastic guest with us. We're gonna be joined here by Allen Sama, Head Trader and owner of Option Genius. He is an Amazon bestseller author of the book Passive Trading: How to Generate Consistent Monthly Income from the Stock Market in Just Minutes a Day. And we're going to let you know more about that. But first, Allen, how are you doing today?
Allen: I'm doing very well. Thank you very much.
Kyle: Thanks for coming on. I know we had to work a little bit to get this. This recordin going.
Allen: Yeah, better make it good.
Allen: I'll do my best.
Kyle: The more you work for it the sweeter to be right? Yeah,
Dan: Yeah. No pain, no gain,
Allen: The more you value it, right.
Dan: Oh, right. So so tell us a little bit about your journey to becoming the Option Genius.
Allen: So I was born as a trust fund baby and I started with $20 million.
Kyle: End of story.
Allen: Exactly, then I made a course. And then I made a course and I started selling it.
Dan: Make more money selling.
Allen: Yeah. So I have a similar story to you guys. You know, I got laid off from basically the only job I ever had. And it was really about, hey, do I go back to finding another job than job market? Or do I try my hand at trading, which I had been starting to learn while I was working because I was working remotely. So it was a great job learned a lot. But it just came to an end. The business went under in the financial crisis. And so, you know, we were actually teaching mortgage brokers how to be mortgage brokers, mortgage brokers, they owe it away. So it's like they didn't need me anymore. And so I said, Alright, cool. Let me you know, try my hand at trading. And I took some of my wife's money, and I lost most of it roughly, for like 40- 43,000. Plus, very quickly.
Dan: Oh you're kidding.
Allen: And, you know, like you guys said, you know, you learn very quickly, what doesn't work and most of it doesn't work. Yeah, at least for me.
Dan: I get to strangled to work one day.
Allen: Yeah. And so really, the, the best thing for me was that, you know, she had, she had faith in me, and she, she's like, you know, you need to make this work. And so I went back, and that kind of really put a fire under my ass. And then I looked at all my records, because I keep paper records of all my trades, write down everything. And so I found that, you know, I was doing day trading, and I was doing this and I was doing that buying and selling and value and I was trying everything, you know, there was one time where I was long, the inverse ETFs you know, SDS and SSO. So SSO is the two 2X S&P Going up, and SDS is 2X going down. So I was long on both of them. I was like, I can't lose. Right? Yeah, it's like the only trade that I can't lose on but guess what I did, I ended up losing money on that trade.
Dan: You're telling my story, Allen. You're telling my story.
Kyle: This all sounds so familiar. But there is a light at the end of the tunne
Welcome Passive Traders to another special edition of the Option Genius Podcast. Today I have something a little bit different for you. I was interviewed on another show called "2 Bulls in A China Shop" by a company called Financial Ineptitude. That's actually their name,Financial Ineptitud. Basically, it's two guys. You know, there are really cool guys named Kyle and Dan, and they've been talking about trading for a little bit. They've been trying to learn how to trade and so they made this podcast to basically help them get their thoughts out, and to record all of their lessons. Their website is really cool. Their podcast is two bulls in a china shop and I'm going to include the interview that they had here as an episode because I thought it was really good. It was a lot of fun. And hopefully you guys will get something out of it and learn from it as well. So again, that's "2 Bulls in A China Shop" by Kyle and Dan. Enjoy the episode.
We're so glad you've joined us today, folks, today is a very special day, we've got a fantastic guest with us. We're gonna be joined here by Allen Sama, Head Trader and owner of Option Genius. He is an Amazon bestseller author of the book Passive Trading: How to Generate Consistent Monthly Income from the Stock Market in Just Minutes a Day. And we're going to let you know more about that. But first, Allen, how are you doing today?
Allen: I'm doing very well. Thank you very much.
Kyle: Thanks for coming on. I know we had to work a little bit to get this. This recordin going.
Allen: Yeah, better make it good.
Allen: I'll do my best.
Kyle: The more you work for it the sweeter to be right? Yeah,
Dan: Yeah. No pain, no gain,
Allen: The more you value it, right.
Dan: Oh, right. So so tell us a little bit about your journey to becoming the Option Genius.
Allen: So I was born as a trust fund baby and I started with $20 million.
Kyle: End of story.
Allen: Exactly, then I made a course. And then I made a course and I started selling it.
Dan: Make more money selling.
Allen: Yeah. So I have a similar story to you guys. You know, I got laid off from basically the only job I ever had. And it was really about, hey, do I go back to finding another job than job market? Or do I try my hand at trading, which I had been starting to learn while I was working because I was working remotely. So it was a great job learned a lot. But it just came to an end. The business went under in the financial crisis. And so, you know, we were actually teaching mortgage brokers how to be mortgage brokers, mortgage brokers, they owe it away. So it's like they didn't need me anymore. And so I said, Alright, cool. Let me you know, try my hand at trading. And I took some of my wife's money, and I lost most of it roughly, for like 40- 43,000. Plus, very quickly.
Dan: Oh you're kidding.
Allen: And, you know, like you guys said, you know, you learn very quickly, what doesn't work and most of it doesn't work. Yeah, at least for me.
Dan: I get to strangled to work one day.
Allen: Yeah. And so really, the, the best thing for me was that, you know, she had, she had faith in me, and she, she's like, you know, you need to make this work. And so I went back, and that kind of really put a fire under my ass. And then I looked at all my records, because I keep paper records of all my trades, write down everything. And so I found that, you know, I was doing day trading, and I was doing this and I was doing that buying and selling and value and I was trying everything, you know, there was one time where I was long, the inverse ETFs you know, SDS and SSO. So SSO is the two 2X S&P Going up, and SDS is 2X going down. So I was long on both of them. I was like, I can't lose. Right? Yeah, it's like the only trade that I can't lose on but guess what I did, I ended up losing money on that trade.
Dan: You're telling my story, Allen. You're telling my story.
Kyle: This all sounds so familiar. But there is a light at the end of the tunne
53 min