17 min

The Trader's Journey The Option Genius Podcast: Options Trading For Income and Growth

    • Investing

Today I wanted to talk to you about the trader's journey. At least he that's what I call it. I like to learn about marketing. I don't know, it's just one of my things. I just I enjoy marketing. And I think it's because it's a lot about psychology. And so even in trading, you have to understand Psychology because, you know, people are what make markets and so when people are reacting or behaving a certain way, if you understand it, then you can profit from it. Right? So in marketing, one of the things that I've been learning about recently is something called the hero's journey. Now, the hero's journey is a common.. now it's common way to tell stories. So whether it's a movie or a book, most likely the most, you know, the most famous movies, the most famous books, the ones that you really enjoy, they follow this trajectory, this story arc, which is called the hero's journey.
Now, basically, what it means is that there's obviously a hero, right, and there has to be a hero in every story, cannot be vague, it has to be very clear who the hero of the story is. Secondly, the hero has to want something, right, it just can't be about a guy just going about his daily life, because that would be boring. And we can all do that ourselves. So the hero has to want something. And then the problem occurs that there is a problem or a blockage, that is stopping the hero from getting that thing, right? So there is something that he needs to go or do or overcome, or there's people in the way, and then there is usually a guide. So a person or a tool or something that helps the hero. Now this is kind of like the Obi wan to Luke, or the Dumbledore to Harry Potter, right? There's, there's somebody that's guiding them along the way. And then at the end, the climax happens when the hero achieves his goal, or sometimes doesn't, right. And a lot of times in the more deeper stories, the thing that the hero has to overcome is external, which means that he has to actually do accomplish something or beat somebody or win something. And then there's also an internal problem that he has to overcome. So from the beginning of the story, to the end of the story, the hero has changed has grown as a person, because he had to overcome something internally, in order for him to get to the end and achieve his external goal.
Okay, so now in the traders journey, obviously, we have you, you are the hero, you are the star of the show, not me, it's you. I know we do the podcast, and I talk about my own exploits or whatever. But in reality, it's all about you, the trader, the hero of our story, and there has to be something you want. Right? So what is it that you want? Now in order for us to have a successful hero's journey for you, you have to know very clearly and specifically what it is you want? Is it that, hey, I would like to make X dollars per month, for whatever reason, or I want to make enough money from trading that I can quit my job and retire early. Or is it hey, I want to buy a new Lamborghini. And I need, I don't know how much they are. But you know, maybe like $2000 or $3,000 a month to pay for this Lamborghini, or I want to pay it in cash, or I want to be a billionaire. Or a multimillionaire, I don't know, I want to start my own foundation, my own charity, and I want to be worth millions of dollars so that it lasts for hundreds of years, whatever that is, whatever that thing that you want. If you don't know it, and you're not clear about it, then we're gonna have a lot of trouble on our journey. Okay, so step number one for you to have a very successful hero's journey is to know what you want specifically
Okay, so now, after that comes the guide, like, "Hey, Hi, I'm Allen, I'll be your guide on this traders journey. I'm not the hero you are, I'm just going to help you guide you along the way". Because normally times the "guide" has some special information, some special skills, maybe he's done the journey before, right? He knows the pitfalls. He knows th

Today I wanted to talk to you about the trader's journey. At least he that's what I call it. I like to learn about marketing. I don't know, it's just one of my things. I just I enjoy marketing. And I think it's because it's a lot about psychology. And so even in trading, you have to understand Psychology because, you know, people are what make markets and so when people are reacting or behaving a certain way, if you understand it, then you can profit from it. Right? So in marketing, one of the things that I've been learning about recently is something called the hero's journey. Now, the hero's journey is a common.. now it's common way to tell stories. So whether it's a movie or a book, most likely the most, you know, the most famous movies, the most famous books, the ones that you really enjoy, they follow this trajectory, this story arc, which is called the hero's journey.
Now, basically, what it means is that there's obviously a hero, right, and there has to be a hero in every story, cannot be vague, it has to be very clear who the hero of the story is. Secondly, the hero has to want something, right, it just can't be about a guy just going about his daily life, because that would be boring. And we can all do that ourselves. So the hero has to want something. And then the problem occurs that there is a problem or a blockage, that is stopping the hero from getting that thing, right? So there is something that he needs to go or do or overcome, or there's people in the way, and then there is usually a guide. So a person or a tool or something that helps the hero. Now this is kind of like the Obi wan to Luke, or the Dumbledore to Harry Potter, right? There's, there's somebody that's guiding them along the way. And then at the end, the climax happens when the hero achieves his goal, or sometimes doesn't, right. And a lot of times in the more deeper stories, the thing that the hero has to overcome is external, which means that he has to actually do accomplish something or beat somebody or win something. And then there's also an internal problem that he has to overcome. So from the beginning of the story, to the end of the story, the hero has changed has grown as a person, because he had to overcome something internally, in order for him to get to the end and achieve his external goal.
Okay, so now in the traders journey, obviously, we have you, you are the hero, you are the star of the show, not me, it's you. I know we do the podcast, and I talk about my own exploits or whatever. But in reality, it's all about you, the trader, the hero of our story, and there has to be something you want. Right? So what is it that you want? Now in order for us to have a successful hero's journey for you, you have to know very clearly and specifically what it is you want? Is it that, hey, I would like to make X dollars per month, for whatever reason, or I want to make enough money from trading that I can quit my job and retire early. Or is it hey, I want to buy a new Lamborghini. And I need, I don't know how much they are. But you know, maybe like $2000 or $3,000 a month to pay for this Lamborghini, or I want to pay it in cash, or I want to be a billionaire. Or a multimillionaire, I don't know, I want to start my own foundation, my own charity, and I want to be worth millions of dollars so that it lasts for hundreds of years, whatever that is, whatever that thing that you want. If you don't know it, and you're not clear about it, then we're gonna have a lot of trouble on our journey. Okay, so step number one for you to have a very successful hero's journey is to know what you want specifically
Okay, so now, after that comes the guide, like, "Hey, Hi, I'm Allen, I'll be your guide on this traders journey. I'm not the hero you are, I'm just going to help you guide you along the way". Because normally times the "guide" has some special information, some special skills, maybe he's done the journey before, right? He knows the pitfalls. He knows th

17 min