Is it even possible to make money?
Hey guys, I really need some advice. I always hear 99% of people fail trading. I’m new to options trading and I’m trying to figure out which strategy fits my wrist tolerance, and psychology. I started with credit spreads and I did (what I would assume) pretty good or beginners luck.. was making about $6000 to $7000 a month for about three months. Now I have been doing single leg options calls, and puts and it’s been hit or miss. I’m down about $8000 but I’m more comfortable with the risk to rewards on the single legs versus the credit spreads, even though it has a higher win rate.
I am blessed enough to make over $320,000 a year in my current job. And it’s allowed me to build software’s to give me a little bit of an edge in the options market. But I feel like I’m missing something and it’s making me question how realistic this is.
So I say all this to say… really ask for those who have been trading options for years what are you doing to keep you profitable. Is it even possible.. in what systems do you guys have in place?
I hope this makes sense and I would really appreciate any tips, advice, and hard truths.