Secret 26BEWARE OF DELUSIONS OF GRANDEUR
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Most option buyers have totally unrealistic expectations.
There is a tremendous amount of hype about how much you can
make buying options. Many option experts promise 100% and
even 1000% returns each year. Unfortunately, most option investors
lose, and most get discouraged very quickly when their
dream of quick riches vanishes.
Option buying is a very tough game that requires tremendous
patience. Your goal should be to make a profit, period, each
year, and that may be tougher than you think. Forget about fabulous
returns.
I have been writing an option advisory newsletter ever since
1983, and in some of these years, we showed extremely high
returns. However, those returns are theoretical returns, and theoretical
returns are hard to convert to real returns. Only the
most skilled player can do so and do so by rigidly following many
of the rules that we have discovered.
The problem with unrealistic expectations is that in your attempt
at extremely high returns, you make the wrong plays and
take far more risks than you should. You’re not patient and make
the wrong moves. Also, you are unable to handle long losing
streaks that you are sure eventually to face. The most likely result
is that you will give up after a few losses.
Option buying requires a lot of staying power and your ability
to handle a lot of losses and still stay in the game. Unrealistic
expectations will not do that!
Most option buyers have totally unrealistic expectations.
There is a tremendous amount of hype about how much you can
make buying options. Many option experts promise 100% and
even 1000% returns each year. Unfortunately, most option investors
lose, and most get discouraged very quickly when their
dream of quick riches vanishes.
Option buying is a very tough game that requires tremendous
patience. Your goal should be to make a profit, period, each
year, and that may be tougher than you think. Forget about fabulous
returns.
I have been writing an option advisory newsletter ever since
1983, and in some of these years, we showed extremely high
returns. However, those returns are theoretical returns, and theoretical
returns are hard to convert to real returns. Only the
most skilled player can do so and do so by rigidly following many
of the rules that we have discovered.
The problem with unrealistic expectations is that in your attempt
at extremely high returns, you make the wrong plays and
take far more risks than you should. You’re not patient and make
the wrong moves. Also, you are unable to handle long losing
streaks that you are sure eventually to face. The most likely result
is that you will give up after a few losses.
Option buying requires a lot of staying power and your ability
to handle a lot of losses and still stay in the game. Unrealistic
expectations will not do that!