44 min
How Denny Doubles His Money Every Month - 136 The Option Genius Podcast: Options Trading For Income and Growth
-
- Investing
Allen: All right, everybody, welcome passive traders. I have one of my good friends with me today, Denny is going to be here. He's going to be talking about trading life in general, and everything that he's learned along the way. Denny, you know, we've, you've been in our programs for a little bit now we've seen your success. And I'm, we're friends on Facebook. So I see you with your posts from Hawaii, sitting on a beach house and all that and we're on the coaching calls, you're always you know, you're always making me jealous. You're always like, "well, I'm going to Hawaii next week, or I'm going on vacation. I'm going golfing". I'm like, Come on, man.
So I'm glad that we finally got to talk, you know, thank you for thank you for taking the time to be out here and talk with us. And I can't wait to learn from you.
Denny: Okay. Well, the way I you know, the way I originally got hooked up with you is I saw one of your marketing deals on the internet. And I thought, you know, well, you know, let's give this a look. And so I talked with Cory and and I said to her, hey, look, you know, I've got I said, I'd like an honest answer that if I come in and buy the program and everything, and I've got $10,000. Is it possible for me to make $2,000 a month on the $10,000? And she said, Well, we've got people doing it. She was very honest. You know, and then so so I got in on the oil deal. One. I think it's blank check trading is that was the oil is. And boy, I learned a whole lot. The first year, I was just sailing along making money hand over fist. And that was when oil was not very volatile. And it was just making, you know, moving sideways, which is perfect for if you want to trade oil futures, you know, it's perfect.
Allen: Yeah. Yeah. All markets are our friend.
Denny: And, and then all of a sudden, oil shot up. And I think it was November two years ago might have been three. Now I know I've been doing it quite a while. All of a sudden, I went in. And I looked and the market had dropped. And I and I was in a position where I was going to end up getting a margin call. So I liquidated my position was $4,700 that day, and I'll be damned the next day, boom, it pops right back up. And that was the day after Thanksgiving. And then on the next call, you talked about the Friday after Thanksgiving is not a very high volume deal. And so one big guy in there can make the market he can make it drop, you can make it rise, and I fell prey to that because I didn't know but you know, you can learn from your mistakes. And I made made plenty of them. But now I make money every month.
Allen: That 4700, did that wipe you out?
Denny: Out? No, no, I had 10 Okay. Okay, so I started all back over. And it took me it took me damn near a year to get it to get it back. And in the meantime, you had your program on stocks. Okay, so I signed up for that. And I fooled around with the stocks for a while and I went back to oil because to me, it's a little more passive where I can put a trade on and I will look at it once a week you know, and I feel comfortable with it. But then what happened is we got get them the next chapter Benny Alan COVID here. And my advertising agency that I own I do direct mail advertising for automotive industry. And I don't know if you've been reading but the car dealers don't have any new cars.
Allen: Yeah, they don't need advertising.
Denny: So, I my business the first year of COVID was down 2,000,400 and some $1,000 Right now, the second year is about 2.8 million and now we're into the third year of the car shortage and so far this year I'm down $1,976,000 From where my normal years would be so I went from a mid six figure income guaranteed down I collected my Social Security check with my wife, okay. And so I go okay, let's start fooling around with your knowledge with oil and with stock options and get yourself a little income so I took $25,000 out of our savings account and put it into my tasty works account and I make on an
Allen: All right, everybody, welcome passive traders. I have one of my good friends with me today, Denny is going to be here. He's going to be talking about trading life in general, and everything that he's learned along the way. Denny, you know, we've, you've been in our programs for a little bit now we've seen your success. And I'm, we're friends on Facebook. So I see you with your posts from Hawaii, sitting on a beach house and all that and we're on the coaching calls, you're always you know, you're always making me jealous. You're always like, "well, I'm going to Hawaii next week, or I'm going on vacation. I'm going golfing". I'm like, Come on, man.
So I'm glad that we finally got to talk, you know, thank you for thank you for taking the time to be out here and talk with us. And I can't wait to learn from you.
Denny: Okay. Well, the way I you know, the way I originally got hooked up with you is I saw one of your marketing deals on the internet. And I thought, you know, well, you know, let's give this a look. And so I talked with Cory and and I said to her, hey, look, you know, I've got I said, I'd like an honest answer that if I come in and buy the program and everything, and I've got $10,000. Is it possible for me to make $2,000 a month on the $10,000? And she said, Well, we've got people doing it. She was very honest. You know, and then so so I got in on the oil deal. One. I think it's blank check trading is that was the oil is. And boy, I learned a whole lot. The first year, I was just sailing along making money hand over fist. And that was when oil was not very volatile. And it was just making, you know, moving sideways, which is perfect for if you want to trade oil futures, you know, it's perfect.
Allen: Yeah. Yeah. All markets are our friend.
Denny: And, and then all of a sudden, oil shot up. And I think it was November two years ago might have been three. Now I know I've been doing it quite a while. All of a sudden, I went in. And I looked and the market had dropped. And I and I was in a position where I was going to end up getting a margin call. So I liquidated my position was $4,700 that day, and I'll be damned the next day, boom, it pops right back up. And that was the day after Thanksgiving. And then on the next call, you talked about the Friday after Thanksgiving is not a very high volume deal. And so one big guy in there can make the market he can make it drop, you can make it rise, and I fell prey to that because I didn't know but you know, you can learn from your mistakes. And I made made plenty of them. But now I make money every month.
Allen: That 4700, did that wipe you out?
Denny: Out? No, no, I had 10 Okay. Okay, so I started all back over. And it took me it took me damn near a year to get it to get it back. And in the meantime, you had your program on stocks. Okay, so I signed up for that. And I fooled around with the stocks for a while and I went back to oil because to me, it's a little more passive where I can put a trade on and I will look at it once a week you know, and I feel comfortable with it. But then what happened is we got get them the next chapter Benny Alan COVID here. And my advertising agency that I own I do direct mail advertising for automotive industry. And I don't know if you've been reading but the car dealers don't have any new cars.
Allen: Yeah, they don't need advertising.
Denny: So, I my business the first year of COVID was down 2,000,400 and some $1,000 Right now, the second year is about 2.8 million and now we're into the third year of the car shortage and so far this year I'm down $1,976,000 From where my normal years would be so I went from a mid six figure income guaranteed down I collected my Social Security check with my wife, okay. And so I go okay, let's start fooling around with your knowledge with oil and with stock options and get yourself a little income so I took $25,000 out of our savings account and put it into my tasty works account and I make on an
44 min