I have been able to earn $200 per day selling stock options. I typically do what is called a Market Trade using safe option strategies. A market trade sets the bid for the trade to what someone has currently offered for the contract. This allows me to make the trade and move on to doing other work on my YouTube Channel or my consulting business.
You might think that I am an expert trader with all sorts of financial certificates. This is not the case. I majored in Finance in my undergraduate degree, but my primary degree is in software development. I am a hobbyist who enjoys investing and earning extra income.
I believe anyone can do this and should. You can increase your income and in so doing increase the returns on your investment accounts. This includes both taxable brokerages and retirement accounts. I actively trade in all my different accounts. This includes Brokerages, Rollover IRAs, Roth IRAs, and even SEP accounts.
Back to my trading. The two typical ways to trade stocks and options is to use either market or limit trades. With limit trades, you must set a price you want, and you wait and see if the trade will be filled. At times this can happen quickly. However, I have found it can take a while and you might not even get filled. I realized I was spending a lot of time trying to earn a couple of dollars in most cases. I decided at that time to switch to market trades. Now most of my trades are completed in minutes not hours.
In the video below I talk about how I trade and how look at it as investing. I typically start with goals and as I learn more and improve my strategy and increase those goals. My current goals are $200 a day, 1k a week, and 4k a month. This is on top of any financial growth or dividends I might earn.
I also set guidelines for my trades that relate to the above goals and try to limit the risk of the trades. For me, it is slow and steady. As I learn more or make mistakes, I make changes as necessary. I encourage you to watch the video and learn even more. If you would like to get started on this path here is the first of several lessons for getting started.
Thanks for joining me on my journey. Please leave a comment if you have a question or just want to share.