Hacks, hacks and more hacks?
I hate to say this about some of my fellow options traders, but I can't tell you how much I abhor those in the industry (you know who you are) that absolutely ruin the true benefits of options for the self-directed investor. Claims of outlandish 300%, 400%, 500% in just a few days. Encouraging the use of low-probability out-of-the-money puts as a predominant strategy without the mention of selling premium.
It's frustrating. It's frustrating to see so many so-called gurus with no real-world experience act as options traders when their services fail time and time again. Again frustrating.
Why don't people want what's important, realistic gains with realistic strategies. Transparency. Knowing that trading isn't easy and is a life-long endeavor and that while the journey may be bumpy at times over the long haul it is worth all of the effort. A long-term approach to short-intermediate-term trading with high-probability trades as its foundation. Selling credit at every extreme and occasionally taking some greater risk with a few directional plays. Always talking about the importance of position-sizing. Always considering risk-management.
Why would people rather join services that tout such outlandish claims? It is beyond me. Are self-directed investors really that gullible?
It is my hope that I have carved and will continue to carve a slice of decency and transparency into the options world. I am certainly not perfect, but I know that options are a valuable tool for every investor and it is my goal to teach as many people as I can about the benefits they offer.