The "Daily Call" From Option Alpha: Options Trading | Stock Options | Stock Trading | Trading Online
About This Show
Join Kirk Du Plessis on The "Daily Call", created and dedicated to you, the options trader, stock market investors or trading wannabe. This is your daily dose of actionable advice, tips, and strategies to help you learn how to generate and earn income investing with options. Inside we'll cover options strategies, option pricing, trading psychology, technical analysis, the stock market, day trading, investing basics, bitcoin, investing in ETFs, dividend investing, automated trading, index investing, and everything that works (and doesn't work) to help you make SMARTER trades.
Most Recent Episode
#152 - You're Only 5 Degrees Off Your Target!
< 1 day ago
Hey everyone, Kirk here again at Option Alpha and welcome back to the daily call. Today, I want to try to help motivate you just a little bit to stick with it because I honestly think that most of you guys are about 5° off of your target. What do I mean by this? First, I’ll go back and say, “My mom had me read a long time ago, a book called “212.” It really was nothing more. It wasn’t a book. It was more of like quotes and phrases and people who are just on the brink of being successful and stories about that. But the premise of the book is that at 211°, water is scolding hot and boiling. But at 212°, literally 1° higher, it becomes steam. It starts to evaporate and become air. It’s that one extra degree where you don’t know how hot it needs to be until it finally starts clicking and converting and transitioning over to something completely different. I think that many people, especially people who try to follow options trading (whether it’s with us or other people) end up putting in so much effort upfront and they just don’t stick with it. They’re probably 5° or so off of where they want to be. It's not that far off from hitting their target. It’s just a small difference, but they just don’t know. You don’t know when that small difference is going to come in. Is it literally right around the corner? Your big break is coming, the positions, everything is going to start clicking. Two more days or two more weeks of trading and then it starts clicking. I would say that you don’t know when your big break is going to come, when the lights are going to turn on. But I can promise you, they will as long as you stick with it. It’s different for different people. Even if you’re listening to this podcast right now, you’re probably so close, you don’t even know it and when it happens, you’re going to look back on this and say, “Wow! I was so close. I’m glad I stuck with it. I'm glad I put in that extra effort. I’m glad I slowed down a little bit on some of the training and just really understood things before I try to just cram all the videos in.” That’s what I’m talking about. I think you guys are actually a lot closer than you think you are. In many cases, you’re over-thinking it or making it too complicated. You’ve got analysis paralysis. This business is not ultimately that hard. It comes down to a couple of key things that we talk about all the time and then a lot of persistence and consi