That’s right; there’s a fast-growing group of people who trade primarily for fun and entertainment. They throw a little money into the market to see if they can make a small investment grow quickly.
While we recommend a more cautious approach along with paper trading, if you still want to trade for entertainment purposes, make sure you are risking relatively small amounts that won’t have a significant impact on your financial well-being if you were to lose the money.
That being said, trading options can be a lot of fun. You can start with a relatively small amount of money, and generate a profit (or loss) in a short period.
You’ll also enjoy the freedom and flexibility that come with the creative ways options can be used to boost your overall trading success. You can use them to reduce your risk on an existing position, or to generate short, quick bursts of recreational income.
When you know what you’re doing, trading options can provide you with lots of enjoyment. It can even accelerate the growth of your nest egg.
Chris Long is a consultant living in the Chicagoland area. He likes to trade options mostly for extra cash and fun, but he also does it for practical purposes like building a fund for remodeling his home and a college education fund for his newborn baby.
Chris Long, a business consultant from Chicago, is an excellent example of someone who trades options mostly for fun, but also for practical purposes.
“I like to trade on my home office days for some extra money. I’m also adding to our home remodeling fund and a college fund for our newborn baby,” he said.
Although Chris has been trading options for over 20 years, a recent discovery is helping him take his skills to the next level.
Just a few months ago, he heard about Kyle Dennis and the success his students are having, so he decided to join one of Kyle’s programs to see if he could rev up his options trading profits. “I like Kyle’s approach to analysis and thought he could help me deal with some slip issues,” said Chris.
“I like to trade on my home office days for some extra money. I’m also adding to our home remodeling fund and a college fund for our newborn baby.”
By deciding to invest in himself, Chris quickly started seeing real results from the guidance and insights he’s getting from Kyle Dennis.
“So far I’m doing well with Option Rocket. I’ve been trading options for many years, so I’m pretty comfortable with approaching,” says Chris.
“I just did SRPT, in $850, out $1,275 overnight on MOMO for the bump on their DMD med.”
He added, “My buys are normally in the $500 to $1,200 range, and so far I’m up with Kyle about $2,500 with a 17K account.”
“I like Kyle’s approach to analysis and thought he could help me deal with some slip issues.”
If they plan on being successful in the long-term, serious traders need to dedicate focused attention, time and effort in learning how to trade options the right way. But once they start trading with real money, many see a rapid improvement in their income and quality of life, while others need a little more time to see results.
When asked how his life has changed since joining Option Rocket, Chris told us, “Well, I’m starting to see opportunities I haven’t seen before. Who knows, maybe this could become a great part-time retirement job for me?”
“But for now, it’s all about long-term growth, building up a nice emergency cash fund and a college fund for our newborn baby,” he explained.
“My buys are normally in the $500 to $1,200 range, and so far I’m up with Kyle about $2,500 with a 17K account.”
Although many traders like Chris focus exclusively on options, others combine options with longer-term stock investments. They compliment each other very well, because options are derivatives of stocks. Put another way; their prices are derived from the stocks they are being traded against.
When you’re a stock investor who understands how to use options correctly:
– You can use options to create quick bursts of income on stocks you already own.
– You can use them to reduce risk or lock in profits on a specific stock position.
– You’ll be able to calculate the probabilities of stock price fluctuations over a period of time.
– You can see how the market perceives the riskiness of a stock by looking at its option prices.
– You’ll enjoy the freedom, flexibility, and control that come by combining stocks and options
As you can see, there are many benefits of using options alongside traditional stock investments. The good news is; you don’t have to give up buy-and-hold stock investing for options trading.
Why limit yourself, when you can do both?
Just remember, although options can be fun, entertaining and highly profitable – they can also be risky. So don’t try to go it alone. Find an experienced mentor with a proven track record of success, and learn the ins and outs of successful options trading.
You’ll be glad you made this investment in yourself and your financial future.
Do you have a Raging Bull success story to share?