34 min
How Matt Is Replacing His Income By Trading Stock Options The Option Genius Podcast: Options Trading For Income and Growth
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- Investing
Allen: All right, everybody. Welcome to another edition of the Option Genius Podcast today I have with me, Matthew D'Ambrosi .He's one of our passive traders. And he's gonna be telling us how he got started and how he's doing pretty well right now. How are you doing, Matthew?
Matt: I'm doing well. Thanks for having me on.
Allen: Cool. Cool. So how'd you get started with Option Genius?
Matt: Well, I have to actually go back, it's been quite a journey, I have to say, you know, it's more like a 15 year journey for me.
Allen: Wow. You know, I was given a book by my sister at age 30. And I was a young guy, and I was just more not interested in reading books just kind of floating through life, didn't really have much direction. And the book was called "Automatic Millionaire" by David Bach.
Allen: Okay.
Matt: In that book, I wasn't really interested in reading it, but she handed it to me. So I said, at least go through it. And I started thumbing through and I came upon a compound interest chart. And it showed, you know, you're 19 years old, and you put $2,000 into an IRA, or Roth IRA, and you did that, and you continue to do that, it would be well over a million by the time you're 65. So I was caught immediately by that. And that's kind of where my journey began. So I took that information, and started reading more books. And I came across Dave Ramsey. He's kind of like a financial soldier, if you will, you know, to get out of debt. Yeah, kind of get your stuff together. And I started, I always thought about making money and you know, retiring early, it was always a thought of mine, it was a gold mine, it was definitely what I wanted to do. And I always felt like 65 is when I would do it just like everybody else. And I continue to read more, I read numerous articles and books. And about two years ago, I went to a workshop, and I was learning how to invest. And they introduced me to options and selling options. And I was told that everyone else was told, you know, it was risky. Don't touch it. There's a whole another world to me.
Allen: Have you done any stocks or options before that?
Matt: No, absolutely not.
Allen: No stocks either?
Matt: Not really, you know, I was more into mutual funds, I had gave my money to an advisor, I just believe that people had your best interest. And they're great advisors out there. I'm not saying they're not. But it really started me to take a hard look about how money is handled. And you're much better off if you take the plunge and believe in yourself and start looking into deeper and see that they can really work out for you if you're willing to take or have the interest really to go and look at that. So I started paper trading. And then I was wondering who else does this so I started searching. And then I came across your name, and I have to hand it to your master marketer. I've never had anyone hit my inbox like you. So I started listening to all your podcast, taking little by little, you know, all the information that you give out there and started little by little paper trading. And then I started making money slowly, you know, doing one contract, then adding two. And then now I'm pretty much on my goal to replace my income. And that's my ultimate goal so...
Allen: Awesome.
Matt: Just a regular guy, you know, I just kind of happy to be here. I'm really happy to be here today. Because I want to get the message out that you know, you're teaching just normal people like me, who have no experience at this. And it's really a wonderful thing if you're willing to get a hold of your fears and take a stab at it.
Allen: Right. So you started about two years ago, you said?
Matt: Yeah, about two years ago yeah.
Allen: Oh two years ago. Okay. And you're still working?
Matt: I am, yep.
Allen: Okay, what do you do during the day?
Matt: So I'm a forklift driver and it's tough work. It's very laborsome. And trading has allowed me to look at money in a different way. I just don't look at mon
Allen: All right, everybody. Welcome to another edition of the Option Genius Podcast today I have with me, Matthew D'Ambrosi .He's one of our passive traders. And he's gonna be telling us how he got started and how he's doing pretty well right now. How are you doing, Matthew?
Matt: I'm doing well. Thanks for having me on.
Allen: Cool. Cool. So how'd you get started with Option Genius?
Matt: Well, I have to actually go back, it's been quite a journey, I have to say, you know, it's more like a 15 year journey for me.
Allen: Wow. You know, I was given a book by my sister at age 30. And I was a young guy, and I was just more not interested in reading books just kind of floating through life, didn't really have much direction. And the book was called "Automatic Millionaire" by David Bach.
Allen: Okay.
Matt: In that book, I wasn't really interested in reading it, but she handed it to me. So I said, at least go through it. And I started thumbing through and I came upon a compound interest chart. And it showed, you know, you're 19 years old, and you put $2,000 into an IRA, or Roth IRA, and you did that, and you continue to do that, it would be well over a million by the time you're 65. So I was caught immediately by that. And that's kind of where my journey began. So I took that information, and started reading more books. And I came across Dave Ramsey. He's kind of like a financial soldier, if you will, you know, to get out of debt. Yeah, kind of get your stuff together. And I started, I always thought about making money and you know, retiring early, it was always a thought of mine, it was a gold mine, it was definitely what I wanted to do. And I always felt like 65 is when I would do it just like everybody else. And I continue to read more, I read numerous articles and books. And about two years ago, I went to a workshop, and I was learning how to invest. And they introduced me to options and selling options. And I was told that everyone else was told, you know, it was risky. Don't touch it. There's a whole another world to me.
Allen: Have you done any stocks or options before that?
Matt: No, absolutely not.
Allen: No stocks either?
Matt: Not really, you know, I was more into mutual funds, I had gave my money to an advisor, I just believe that people had your best interest. And they're great advisors out there. I'm not saying they're not. But it really started me to take a hard look about how money is handled. And you're much better off if you take the plunge and believe in yourself and start looking into deeper and see that they can really work out for you if you're willing to take or have the interest really to go and look at that. So I started paper trading. And then I was wondering who else does this so I started searching. And then I came across your name, and I have to hand it to your master marketer. I've never had anyone hit my inbox like you. So I started listening to all your podcast, taking little by little, you know, all the information that you give out there and started little by little paper trading. And then I started making money slowly, you know, doing one contract, then adding two. And then now I'm pretty much on my goal to replace my income. And that's my ultimate goal so...
Allen: Awesome.
Matt: Just a regular guy, you know, I just kind of happy to be here. I'm really happy to be here today. Because I want to get the message out that you know, you're teaching just normal people like me, who have no experience at this. And it's really a wonderful thing if you're willing to get a hold of your fears and take a stab at it.
Allen: Right. So you started about two years ago, you said?
Matt: Yeah, about two years ago yeah.
Allen: Oh two years ago. Okay. And you're still working?
Matt: I am, yep.
Allen: Okay, what do you do during the day?
Matt: So I'm a forklift driver and it's tough work. It's very laborsome. And trading has allowed me to look at money in a different way. I just don't look at mon
34 min