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Stay Informed. Seek Opportunities (Freebies for Valentines Day)
Data, Levels, Roadmap & More
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Basics of options trading
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Table of Content
Mid-Week Insights
Discord/Telegram Alerts
Earning in the market.
The play of the week was our $SPY 495 puts. We took $30 to $210.
I inform with our newsletter and make money in the discord.
$spy puts printed. And our morning scalp.
— Simplify Wall Street (@SimplifyWSJ)
3:07 PM • Feb 13, 2024
Education
Growing your net worth with these 3 trading rules
Pay Yourself Profits Regularly:
Stop the obsession with turning $1,000 into $10,000 overnight. Instead, adopt a disciplined approach.
Set a base amount in your trading account and, each week, pay yourself a portion of your profits.
If you face losses, avoid the temptation to add more money immediately. Be patient, and continue until you're back in positive territory.
Leverage Your Corporate Job:
Maintain a steady income through a corporate job, whether full-time or part-time. Use this income to cover your living expenses and bills.
By separating your trading profits from your day-to-day expenses, you create a clear financial structure.
a. Roth IRA: Contribute to a Roth IRA for tax-free growth and withdrawals in retirement.
b. Long-Term Investing Account: Allocate funds to a long-term investment account that can include individual stocks, real estate, or other businesses. Diversify your portfolio for sustained growth.
c. High-Yield Savings: Maintain a high-yield savings account that pays out a monthly interest to hold funds temporarily before making strategic investments. This account acts as a buffer and allows you to seize opportunities when they arise.
(Roth IRA explanation is here)
(Long-term investing explanation is here)
(The High-Yield Savings explanation is here)
(Open a high-yield savings here)
Focus on Quality, Not Quantity:
Prioritize quality trades over sheer volume. Aim for consistent, modest gains rather than trying to hit grand slams. By emphasizing a steady and calculated approach, you reduce the risk of significant losses and increase the likelihood of growing your account over time.
Continuous Learning and Adaptation:
The trading landscape evolves, and it's crucial to stay informed. Invest time in educating yourself, staying updated on market trends, and refining your trading strategy. Adaptability is key to long-term success in the dynamic world of trading and investing.
If you can’t afford it, stick to free content. If you can afford it, explore paid options. Remember, paid resources should be written off as business expenses, covered with income from your own business or corporate job.
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