Everyone wants to make money, and most of us will fail along the way.
David Jaffee of BestStockStrategy.com can teach you how to be consistently profitable when trading options.
But, David Jaffee was not always a successful options trader. While you can make a million dollars option trading, traders need discipline, patience, and the right options trading strategy.
What percentage of option traders make money?
If you learn how to trade options, you will not make a million dollars overnight.
To make a million dollars with options trading, you need to build up your account and implement the best options trading strategy.
David Jaffee's target is to earn ~40% per year trading options.
While everyone wants to make the most money possible, traders who try to earn too much usually end up trading too aggressively and losing money.
Not everyone is satisfied with earning 40% each year.
When trading too aggressively, you'll also risk losing money in the process.
Options traders that promote get-rich-quick schemes or shortcuts to success are not teaching you a sustainable strategy to earn consistent profits.
The most successful options traders make money by exercising patience and taking the time to get it right.
Are there millionaire options traders?
David Jaffee is an example of an options trader who worked hard to earn his achievements.
David Jaffee graduated from an Ivy League university and spent five years working as an investment banker.
Despite being surrounded by some of the greatest trading minds in the world, David Jaffee found himself giving into greed and trying to make more money as quickly as possible.
Through various setbacks and challenges, David Jaffee learned the best options trading strategy for success.
David Jaffee understands the sting of failure and losing money firsthand, and he has taught more than 1,500 students how to avoid making his same mistakes.
Most Successful Options Strategy
You could try a wide range of strategies that promise quick results.
Or, you can follow the most successful options strategy taught by David Jaffee.
In just 12 easy-to-follow lessons, David Jaffee breaks down everything you need to know about options trading.
David Jaffee’s online options trading course is designed to benefit all experience levels, from new traders to experienced traders.
Learning the most successful options strategy requires your time and investment. Students have to be committed to learning, growing, and improving themselves in order to reach their goals.
How to Make a Million Dollars Trading Options
If you want to make a million dollars trading options, David Jaffee teaches some core principals to help you start earning money and he also has excellent reviews from his options trading students.
1. Limit Your Information Sources
We live in a time where there is too much information and not enough action.
You want to turn yourself into a creator and not a consumer.
2. Evaluate Your Account Size
If you have an account size below $15,000 you want to have a watchlist with five securities on it.
At any one time, you will have a maximum of two trades on, preferably one.
If you have a larger account ($100,000+), then it may be best to have positions on 4 or 5 securities at once.
3. Use Your Capital Efficiently
Selling naked options reduces your risk, but you have to use your capital efficiently.
If you sold a naked option with an expiration of around six weeks out, you can wait two or three weeks to see how that option is doing.
Let’s say you sold an option on Facebook when it was trading at $255, then Facebook goes up to $285 two weeks later.
There is no point for you to wait an incremental four weeks when that option that you sold when Facebook was trading at $255 is now trading for 20 cents.
When Facebook was trading at $255 and you sold a $240 put option, you can collect around $1 per share in premium.
Now that Facebook has appreciated in value, and the option has decreased in price, you're essentially receiving 80% of the premium in one-third of the time.
Learn Successful Options Trading
David Jaffee provides a considerable amount of options trading information for free through his blog and YouTube channel.
If you are ready to get serious about options trading and invest in your financial future, David Jaffee provides a comprehensive online options trading course.
By learning successful options trading with David Jaffee, you can create winning trades and protect against inherent human greed.