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I joined Steady Options in January. I have learned so much in the short period of time I have been here; I still have many lessons to learn. I am in it for the long haul! When Kim suggests trading virtually for the first month I thought I was the one exception to that rule. After all, I had taken thousands of dollars in options education courses over many years. I believe greed plays into that psychology. Yet in January I lost as much as the SO portfolio gained during the month due to mostly sloppy entries and mistakes with complicated spread entries. I also couldn't get rid of my training in directional trading, so I kept making bets on certain stock options and stocks to go up or down. By February I didn't make many more entry mistakes. I finally jettisoned my directional trading for good over the last four months. Knowledge of technical indicators can help you sometimes with SO trades, but mostly we are trading volatility. The last 3 months have been real successful with a small loss last month, but August is looking promising. A second suggestion for newbies is what you hear all of the time here about not chasing. Yes, you may miss out on some great trades. Missing TSLA recently was painful, but sometimes you end up missing a loser, or at least what would have been a loser had you chased. Don't expect to come close to Kim's fills, particularly as a newby, but some folks who have been here awhile are doing great. They have learned the system and are making money on some of our high flyer spreads several times entering and exiting not by following Kim's official entries, but by knowing the behavior of certain spreads and knowing they will likely get a range entering and exiting that will repeat itself. They also sometimes will post other non-official trades that are profitable. They also will regularly anticipate Kim's fills on jump in early with better fills or wait and come in later with lower prices often scaling into trades. Experience is the only thing that will get you to the kind of returns Kim is getting! Even if you averaged over ten years half of what Kim gets your growth curve would be remarkable. If you could average 50% a year on a an eventual 100K (the maximum size Kim wants trading this system) you would be bringing in an extra 50K per year. Experienced traders- please add your wisdom! I am still learning so much!
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