The First Encounter!

On one occasion, I read this advert in the papers featuring how this Australian guy was able to turn a few thousands into millions using a particular trading instrument.   Entrance fees to his seminar of 3 hours cost $50 but I went, out of curiosity,  of course! 

It was a seminar with over hundreds in the ballroom.  A powerful speaker I would say, he swayed the entire audience over with his covered call strategy.   Options trading was seldom heard of during that time, not to mention covered call! I was really thrilled with his talk and that opened up a totally new perspective in me to this fascinating world of options trading.  The $50 was well spent indeed!

The cost of the programme wasn't cheap,  a few thousands at least,  and came with some proprietary stocks screening software.  A number of people did sign up with him, but I didn't.

I was thinking then. ... "is there a cheaper alternative? ".. I believed there should be, and I began my search in this niche sector. ...

How the journey began...

I believe many people started out trading with stocks.  Me too! :) looking back,  that should be some time in 1996? Yes, long way back!

I hadn't gotten much success in trading stocks really... or should I even use the term "much success" at all??!! To be precise,  I think I only had a couple of trades which made me just a few hundred bucks while the rest of the trades were bad... and some even nearly wiped out my account! Maybe I was missing out on luck then? Hahaha. .. or rather the most likely reason could be I was just not a stock analyst like some others who really are able to make good money in the stock market buying great stocks!

I stopped trading for a few years because I was literally lost in how exactly should I proceed then.  Rather than throwing good money after bad, I stayed on the side lines... searching hard for a holy grail , if that exists in the first place!

During that few years of research,  I picked up knowledge on technical analysis,  many different types indeed!  Candlestick analysis as well as support resistance studies appealed to me most.  I was really impressed and astonished at the kind of tools available in the market to study and analyse stocks! !

With that new found knowledge,  I put it to test once again. ... it worked at first and I was thrilled thinking that I had found the secret to unlocking wealth in the stock market!   But well, sometimes it failed. .. as expected.  Success wasn't consistent at all and I went back to the drawing board,  in search of the next better option.

Alrite. .. getting a little late now... let me continue the story again another day. . Stay tuned!  ;)

Wd

Hello Options Sellers out there!

Hi!

Welcome to my blog!

I'm an options seller in equities as well as futures.  Join me in my blog if you are one too or are thinking of becoming one!

wild dreams

Volatile markets!

Very wild rides in the markets recently. Hope everyone sits tight and stay safe. :)

July 2011: Account update

despite the volatility of the markets, our put options selling account has grown steadily over the last few months! :)

May 2011

many stocks dropped quite significantly these recent weeks. correction or not the next few weeks will tell. got an assignment on xlf this month but soon got rid of it with a small profit. :)

hope u guys are doing great out there too despite the woes recently.

cheers
uktank

Volatile months

hi folks! it has been quite a while since i last posted. no doubt the months had been quite volatile at times, as options sellers, i believe most of you like me are still able to slowly increase your account size during this few months! :) check out the latest account chart on my main page! cheers uktank