"Not preparing to win is preparing to lose" is a line I always used when I was coaching basketball. And I think it fits in great with the options game. As you have seen in the market yesterday, even if you did prepare, sometimes it doesn't help. Yesterday's down market (caused by the Greece fallout and of course the Goldman hearings didn't help) will be the type of market we will see for a while. The financial situation in Greece, I feel, will be contagious to other European countries. We also know we will see major financial reform in the U.S. caused by Goldman Sachs and the rest of the greedy financial institutions. Many feel , as I do, that there is still a lot of money on the side lines waiting to get into this market. Between this money cautiously entering the market and the up and down financial news mixed in with earnings season, I hope you like rollercoasters! Even with all this I am mildly bullish and I feel the Dow and the S&P will keep an up trend. I am not a stock adviser and I don't recommend stocks or options. I let you know what I am thinking and I let you know my trades as I make them. I will advise you on one thing, be prepared. Don't ever think you are good at this game. Once you let your guard down and get a little cocky, BANG! You will get hit hard! Let's talk about preparation. When I was coaching basketball I tried to prepare my team, pre-season, for our first game. I wrote down everything I wanted to have in our arsenal before the first game. With a six week pre-season, I broke that list into six, one week lessons. Then I broke my one week lessons into six daily practice sessions. I would give them one day off (nice guy). Having done this I knew we would be prepared for our first game. After the first game we would slowly add more material to get better and better each game getting ready for the playoffs at the end of the season. We were always preparing to win because "Not Preparing to Win is Preparing to Lose!" This preparation to beat the other team included, but not limited to, fundamentals, offenses, defenses and plays for quick scores. The type of preparation I am talking about is exactly the type of preparation you need to beat the team I play now, "Wall Street". You must start with fundamentals and go from there. Education material is very easy to get. You can start with "Main Street beats Wall Street". I will be posting many articles on beginning strategies and more advanced strategies. I will also be posting articles on my philosophies. You must read books and get the philosophy of the author. There are many, many books from options for beginners to advanced option strategies available in any book store in the financial section. Don't forget to watch the financial shows and always remember that "Not Preparing to win is Preparing to Lose!"
The Coach
Welcome to the “Main Street beats Wall Street”. This blog is for the stock investor/trader with experience in trading options. It can also be helpful for the ones with no experience with options who want to learn how options can be used to pursue your trading goals. As time goes on “Main Street beats Wall Street” will be giving many lessons from “Getting started” to you making your first trade. I also have an e-mail for any questions you might have from a lesson or a trade I posted,coachsjc@gmail.com. On “Main Street beats Wall Street”, I (the Coach) will post every trade I make. In recent years I've had years with over 400 trades. I will not post last years or last month’s trades, or hypothetical trades. ONLY REAL TRADES! I will post a trade when I get into a position and I will post the trade when I get out of that position. Along with my trade I will post my “RISK FACTOR”. The risk of my trade will be rated from 1 to 5, 1 being a low risk trade and 5 being a high risk trade. You will see if I get out making money or get out losing money. No Hoopla. “Main Street beats Wall Street” will show you how the people who live on Main Street throughout this country can be as good as the people who work on Wall Street. This blog is totally free, I am not selling books or tapes. I am only having fun and staying involved in something I love, the stock market. I make my money buying and selling stocks and options. If you put in a little time you too can make money; enough money to change your life forever.
T
