Super Trader Karen
Super retail trader Karen turned $100k into $41 million in profits in 5 years. Listen to how she did it.
- Keep it Simple
- Know the big picture
- Watch price and volume, very critical
- Bollinger bands (x2 Standard Deviations)
- Short option premium (selling calls and puts, very risky as has open loss)
- Trade of theta
- Less or no technical studies
- Does not trade stocks, options only
- Due to such a large account options on only: NASDAQ 100, SP500, Russel 2000
- Non directional plays
- Trading and investing is like learning a craft, trading is very difficult
- Stocks are too difficult to pick for the retail investor, unknown news and fundamentals can sink you
- Therefore does not trade stocks (only Indexes), wishes to avoid the 'Earnings Season' risk
- Low drawdowns
- Has a single and simple strategy (one trick to beat the market) which is Wide Index Strangles
- Shorting premium (option writing)
From TastyTrade.com 24 minutes of magic
NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
..“It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind.”...
..“Successful speculation requires staying on top of changes in industries and companies that either create new industries or improve on existing industries. The majority of your profits will come from these two … The shrewdest traders throughout history all adapted the skill of reactionary change, as the market constantly presents new and different opportunities.”..
Novice Traders trade 5 to 10 times too big. They are taking 5 to 10% risks on a trade they should be taking 1 to 2 percent risks.
.."October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February."..
...“To me, the 'tape' is the final arbiter of any investment decision. I have a cardinal rule: Never fight the tape!”...
Created on: 6/16/2012 10:28:34 PM Last Update: 2/7/2013 12:04:11 AM Posted by: RTT
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