Recession, depression, unsettled U.S. economy, unsteady economic growth, interest rates, unemployment rates, geopolitics, national security concerns, catastrophic events ete.etc.etc. It is news that moves the markets! We get more news on these subjects then we ever did before which leads to a more volatile market. Also, widespread corporate scandals in recent years have shaken public trust in institution (mostly in the financial sector) which makes it very clear that self-reliance or at least self-education, when it comes to finances is critical. The days of writing checks from your savings to some portfolio (kid) manager and remaining complacent, secure in the belief that an investment would take care of itself, are long gone. Education, Education, Education and your investment/trading philosophy are the things you must work on in order to make money. When it comes to learning material the access is great. Books, T.V., the Internet and of course this blog (Main Street beats Wall Street). You only have to put in the time. As time goes on you will know my philosophy. You can read 10 books and get 10 different philosophies. You must develop your own according to your ideas and risk tolerance. The road to wealth is not always a smooth highway, many times it is a rocky road. Not only are most people unwilling to take the risk, but many are unwilling to get on the road. That's fine with me, but for those of you who have decided to get on the road and play the stock market game, one of the greatest areas in which you can invest and receive the greatest rewards is your own brain power. Education will help get you through that rocky road. Having said that, when it comes to options, no matter how logically you can come up with reasons to use them, they must be an appropriate match for your level of risk. Remember, options can be very high-risk or very low-risk. Every options trade I post I will include my 1 to 5 "Risk Factor" rating, 1 being low-risk and 5 being high-risk.
The first thing you must do is set up an on-line stock trading account. I use "Street Smart Pro" which is a program by Charles Schwab. If you already have an account, make sure you are set up to trade stock options. If you never traded options they will probably allow you only to trade "covered call options"(see Stocks Options Dictionary) which is fine to get started and learn. You will be able to add more advanced strategies to your account as you get more experience. If you need help choosing an on-line broker you can send me an e-mail. If you have experience you are already in business.
If you're going to use "Main Street beats Wall Street" as a learning tool make sure you read all my "post" along with all my pages of "philosophies" and "lessons". If you miss a post you can always go back and catch up with old "post". You can check my blog to see if I made a post or you can be put on my e-mail list and when you get an e-mail you can just hit the link. If you just want to check during the day you can put the blog address in your "favorites" so you don't have to type the address every time. I will be posting all my trades. If you have any questions on a trade you can e-mail me and I will get back to you as soon as possible. If I don't have a trade to post I might write an article on something about the market, the economy, maybe information on a stock I'm involved in or maybe some political BS to stretch the comedic wrinkles out of my brain. So stay tuned and lets get in the game and beat Wall Street.
The first thing you must do is set up an on-line stock trading account. I use "Street Smart Pro" which is a program by Charles Schwab. If you already have an account, make sure you are set up to trade stock options. If you never traded options they will probably allow you only to trade "covered call options"(see Stocks Options Dictionary) which is fine to get started and learn. You will be able to add more advanced strategies to your account as you get more experience. If you need help choosing an on-line broker you can send me an e-mail. If you have experience you are already in business.
If you're going to use "Main Street beats Wall Street" as a learning tool make sure you read all my "post" along with all my pages of "philosophies" and "lessons". If you miss a post you can always go back and catch up with old "post". You can check my blog to see if I made a post or you can be put on my e-mail list and when you get an e-mail you can just hit the link. If you just want to check during the day you can put the blog address in your "favorites" so you don't have to type the address every time. I will be posting all my trades. If you have any questions on a trade you can e-mail me and I will get back to you as soon as possible. If I don't have a trade to post I might write an article on something about the market, the economy, maybe information on a stock I'm involved in or maybe some political BS to stretch the comedic wrinkles out of my brain. So stay tuned and lets get in the game and beat Wall Street.
The Coach
