19 min
Should You Go Into Debt To Trade? The Option Genius Podcast: Options Trading For Income and Growth
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- Investing
Check this out: High Probability Trading LIVE
Hey, passive traders, how's it going today? Listen, we're thinking about doing a two-day live event. Not sure yet if it's going to happen or not, but the information is at optiongenius.com/live. If you want to be on the announcement list, just go ahead and go to that website and put in your email and your name, and we will let you know. And if we've decided that we're going to do it, then the information to figure it out and sign up is going to be there as well. It’s going to be two days of content, hard hitting trading content. And I'm probably gonna bring in some guest speakers as well.
So I'm getting excited, the more I think about it, the more excited I'm getting. But I am very nervous because I'm super introverted and for me to do something like you know, we're meeting a lot of people. So that's why it's virtual. I don't have to go in front of a large stage or anything, but it is going to be really cool. So I'm already starting to think of what topics we can talk about what is the, you know, what's the best, that will help everybody. And so if you have any ideas of what you would like us to talk about, you know, go ahead and fill out that the name and email at that page, option, genius, comm slash live. And then let me know what you think. And let me know what you want to hear about. Cool.
Alright, so I got an email today from a reader of the passive trading book. And I thought that this could be a pretty good episode based on what she said. So she said that she loved the book, she went through it, it was great, she learned a lot. And she's really, really focused on doing it. And she's, uh, she's already in real estate. So she understands the whole options and how they work and how they relate to stocks.
Now, the problem is that she's only got a couple $100 to work with. So what should she do? Now, this is a very common situation, it's a very common problem that a lot of people have, they want to get started, they love the idea, but they don't have money to trade. And obviously, yeah, it takes money to trade, right? This is the one thing it takes money to do everything but especially trading, it does take money to get started. So what do they do, and on this episode, I'm going to give you some idea and it's actually a controversial idea, because it's not right for everybody, it might be right for you, it might not be right for you might be the most awful advice that anybody could ever give you. So I'm not giving you advice, per se, I'm giving you an idea. You have to know yourself. And you have to know if this is the right thing for you.
If it's you know, too much or too risky for you, then don't do it. If you think you can handle it, then it might be the opportunity or the idea that finds you the funds that you can go and start trading. And you've probably already thought about this, but I want to go through with you a little bit more. So my first ever trade was not stock. It was a commodity trade. And I was I don't know what I was like 12, 13 years old. And we got this pamphlet in the mail. It was a brochure, it was like a sales letter for a course on how to trade futures. And I read it, I was mesmerized. I'm like, Oh, this is awesome. This is awesome. Dad, we got to get this, we got to get this. So we paid a couple of 100 bucks, whatever got the manual in the mail, opened up a futures account. And we traded soybeans, and I still remember this. We traded soybeans, one contract, and we made $25000. And I was on top of the moon. It was awesome. And then my dad shut down the account. I'm like, What happened?
He goes, No, no, no, I didn't want to keep doing this. I just wanted, to show you what it was like and the actual idea that he had was that he was going to open the account, and we were going to lose money. And then that would stop me from ever wanting to trade again. Because he thought that commodities trading commodities was very, very risky and not do it. His
Check this out: High Probability Trading LIVE
Hey, passive traders, how's it going today? Listen, we're thinking about doing a two-day live event. Not sure yet if it's going to happen or not, but the information is at optiongenius.com/live. If you want to be on the announcement list, just go ahead and go to that website and put in your email and your name, and we will let you know. And if we've decided that we're going to do it, then the information to figure it out and sign up is going to be there as well. It’s going to be two days of content, hard hitting trading content. And I'm probably gonna bring in some guest speakers as well.
So I'm getting excited, the more I think about it, the more excited I'm getting. But I am very nervous because I'm super introverted and for me to do something like you know, we're meeting a lot of people. So that's why it's virtual. I don't have to go in front of a large stage or anything, but it is going to be really cool. So I'm already starting to think of what topics we can talk about what is the, you know, what's the best, that will help everybody. And so if you have any ideas of what you would like us to talk about, you know, go ahead and fill out that the name and email at that page, option, genius, comm slash live. And then let me know what you think. And let me know what you want to hear about. Cool.
Alright, so I got an email today from a reader of the passive trading book. And I thought that this could be a pretty good episode based on what she said. So she said that she loved the book, she went through it, it was great, she learned a lot. And she's really, really focused on doing it. And she's, uh, she's already in real estate. So she understands the whole options and how they work and how they relate to stocks.
Now, the problem is that she's only got a couple $100 to work with. So what should she do? Now, this is a very common situation, it's a very common problem that a lot of people have, they want to get started, they love the idea, but they don't have money to trade. And obviously, yeah, it takes money to trade, right? This is the one thing it takes money to do everything but especially trading, it does take money to get started. So what do they do, and on this episode, I'm going to give you some idea and it's actually a controversial idea, because it's not right for everybody, it might be right for you, it might not be right for you might be the most awful advice that anybody could ever give you. So I'm not giving you advice, per se, I'm giving you an idea. You have to know yourself. And you have to know if this is the right thing for you.
If it's you know, too much or too risky for you, then don't do it. If you think you can handle it, then it might be the opportunity or the idea that finds you the funds that you can go and start trading. And you've probably already thought about this, but I want to go through with you a little bit more. So my first ever trade was not stock. It was a commodity trade. And I was I don't know what I was like 12, 13 years old. And we got this pamphlet in the mail. It was a brochure, it was like a sales letter for a course on how to trade futures. And I read it, I was mesmerized. I'm like, Oh, this is awesome. This is awesome. Dad, we got to get this, we got to get this. So we paid a couple of 100 bucks, whatever got the manual in the mail, opened up a futures account. And we traded soybeans, and I still remember this. We traded soybeans, one contract, and we made $25000. And I was on top of the moon. It was awesome. And then my dad shut down the account. I'm like, What happened?
He goes, No, no, no, I didn't want to keep doing this. I just wanted, to show you what it was like and the actual idea that he had was that he was going to open the account, and we were going to lose money. And then that would stop me from ever wanting to trade again. Because he thought that commodities trading commodities was very, very risky and not do it. His
19 min