How Much Do I Need To Make $X? - 011
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So, the question really is, "How much do I need to make X?"
Basically, I get this question all the time. For example, "Alan, I want to make $5000 a month. So if I sell options, how much money do I need to make that much?"
And I mean, really, that's your question? How am I supposed to answer that. There's no way I can answer that. I don't you. I don't know how good a trader you are. I don't know how long you're doing this. I don't know how much risk you wanna take. I don't know what strategies you're gonna use. I don't know if you're gonna adjust or not.
There's no way to answer that question. It's like a one-line email and they're like, "Thanks. Let me know." And based on my answer they either sign up for our Option Genius service or they don't I mean, it's kind of crazy.
I think so much of it has to do with the individual. Because I have seen two traders be given the same exact trading plan, and one of them makes a lot of money from it and the other one loses money.
The same exact rules. Like, hey, this is how you get in, this is what you do, this is how you adjust, this is how you get out. Everything. Give 'em the same rules, two of them. Let them do their thing. One of them will make money, one of them won't. But even simple than that, I have seen it where we have people who take the same trades that I'm doing and they lose money. Now I don't know how that happens. I mean, obviously I lose money too, so I'm not talking about a losing money trade. I'm talking about a trade that I won on, that I made money on.
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