Options Trader Pro Tip | Why YOU Should Invest in Yourself and Gain Lifelong Skills

Options Trader Pro Tip | Why YOU Should Invest in Yourself and Gain Lifelong Skills
Options Trader John Napolitano chats with Stock Trading Pro Pete Renzulli about the importance of investing in yourself. How taking an initial investment on yourself goes a long way. Learning lifelong skills and educating yourself to become a master at your craft.
Trade Options with John Napolitano
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Let's say I prefer the word invest. I think you have to spend money to make money sometimes, and that has to do with trading as well as education.
  📍 I think that it's important to educate yourself.
 I think to me if I had the right education I probably left thousands of dollars on the table. Just doing the wrong strike prices and doing the wrong option strategies.
I think most people who are willing to invest in themselves never focus on what it's costing.
  📍 They focus more on, do I believe this will give me roi? And how fast?
 How fast can I make my money back if I make this investment?
  📍 And then I'll put that into the next thing to level up.
 I think far too many people think about the cost. Now, again, obviously with respect to everybody and how much they can invest in themselves, but if you can in an opportunity, the first thing should be will this pay for itself?
How fast do I believe this will work for me? Then it's, then it's a IQ test at that point. If you believe it'll work and you have the money,
  📍 then it's a no-brainer at that point. It's not
  📍 about the cost, it's about having Now you have that skill for the rest of your life
 . Actually, that's how I see everything.
I, that's a
lot of money in myself. . Yeah. That's how I look at it too.
  📍 I think that investing in yourself is important. If you really
 want to master options, the most important thing to master is not just, obviously, the math behind it, the Greeks and all that stuff. It's really strategy, selection and when to use it.
  📍 Why and how. That's what kind of
  📍 separates a professional from someone who's
  📍 just out there buying calls and puts and speculating on things
 . Because I know plenty of options traders that have been really frustrated with their results because they just, they do simple, they do some more simple strategies out of the money calls, out of the money puts, and sometimes they make a lot of money, which is great if they're right exactly at the right time and they're perfect.
But that, that only happens maybe two outta 10 times. , want those odds. Yeah. To me, options, trading is very, stocks are similar to its probability game. You want to, you want the odds to be in your favor,
  📍 but most traders don't really have a very high winning percentage.
 Most professional traders, their winning percentage, it's not something
  📍 you would put on the refrigerator and show your mom back in school. You know what I mean?
 If you have a 60 something percent winning percentage in trading, that's pretty darn good. As long as you manage your risk, as long as you, as long as the down doesn't destroy your winners.
And that's the key to good options trading. Like putting these debit strategies together, you know exactly how much you're putting on the table. You know exactly how much you're risking.
  📍 And if it's $500, it's $500.
  📍 If it's $300, it's $300.
 You know exactly what it is.
  📍 That's the key.
 You always think of the downside first.
I think that is the difference between, and again, whether you quit your job or not, I'll say professional. Is the depth of managing the downside first. because look, let's face it, if you got the downside managed, one of the things that a lot of people fail to put into the equation is
  📍 you have to give yourself a chance to learn.
  📍 And if you're blowing your account up
  📍 and refunding it,
  📍 blowing your account up
  📍 and refunding, you're not
 actually getting experience. So there's nothing wrong with dialing back the amount of risk that you're putting into the idea to learn to make better decisions. Because if you manage the downside, you'll be around long enough to learn how to make more when some of those ideas follow through and put yourself into better positions.
Absolutely. 100%. The key is always managing the downside. And, the, I tell my students that the money shows up if you manage the downside. I can't guarantee how profitable you'll be or what you'll make and how much you'll make, who knows?
  📍 But the money starts showing up once you manage the downside.
John Napolitano: Options Trader
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