Between blog posts and books, I have written and published more than one million words.
That’s a lot of words and raises questions: Who am I to offer education and advice? Why would anyone care to read this stuff?
The short answer is that I care. Over my career as a market-maker I’ve seen customers entering orders that made little sense. It is true that when someone enters an order, we market makers never knew what position that person already owned and whether the new order was a hedge. However, customers were not very sophisticated in the 1980’s and there was no industry-wide attempt to educate them — as there is today. Thus, they made mistakes. They paid too much for options, and they adopted losing strategies. I sincerely wanted to help provide an education.
Once I left the CBOE trading floor (mid-2000), I started a small education business. Writing is a major part of that. I love writing books about options. I appreciate more than I can express in words when a reader sends an e-mail expressing gratitude or telling me how much a specific book has helped. I’ve made some friends through a correspondence that began with a simple question about options.
So I continue write articles with lessons, tips, suggestions and ideas to consider. And I’m still publishing books. To current readers, thank you for the time we spent together. To new readers of this blog: I bid you welcome and hope that you find my heartfelt efforts to be trustworthy.
At one point, I considered writing to be a solitary activity, but I received so many appreciative e-mail messages that I soon understood that a bond had been created between us. For many readers — perhaps the majority — that relationship is fleeting. For others, it is closer — perhaps as between you and a teacher/mentor/friend.
I write because I have a passion for teaching people how to get started using options to make a better financial future for themselves. It is as simple as that. I am not a trainer of professional traders. Nor can I help a rookies trader become experts. And I certainly do not want to encourage anyone to become a market speculator using options. But I do preach the importance of managing risk and never exposing yourself to a loss that is larger than you are willing to accept.
I pass along some of my thoughts: how I handle a trade from entry to exit. I don’t suggest specific traders; I have almost no rules cast in stone. I teach traders to be logical in their thoughts and to dismiss old ideas that they know just do not work. Come along and jon me. Enter into a discussion — your comments and questions will be more than welcome.
I know there are many millions of investors who will never care about, and never learn about, options. I write for those who want to take some of the risk out of investing and for those who want to increase their chances of earning enough money to provide a supplement to their ‘regular’ earnings.
I have James Altucher to thank for this writing mindset. I am sure that because of the way he writes and the very personal topics that he discusses, readers have a wide range of opinion about him. I think his sense of humor is top notch, I trust his advice. But I’m sure that others think he is a mental case. Nevertheless because he shares so much of his personal stuff, I thought that I could share a piece of mine.