I received the following email from one of our most active Explosive Options Chat Room members, Ketan. Here is his story:
I love my mom a lot. She has done so much for me, and she always had a dream of seeing me succeed and sitting in a Mercedes Benz that I own. Yes, a Mercedes has been my luxury dream car for as long as I can remember. I finally achieved my goal of owning one. On July 5, 2014, I bought my first Mercedes.
So how did I achieve my goal? I have been an options trader for more than 7 years, and finally 2 years ago I found Bob Lang and his fantastic team – I call them The X Team.
Let me be honest: Before becoming a member of Explosive Options and their chat room, I made a lot of mistakes and lost almost all of my hard-earned money. In fact, I had to take a 6 month long break from trading, because I was broke. When I decided to get back in the game, I joined The X Team and learned so much, like not blindly following experts. Instead, we talk about why we are doing a specific trade, what to pay attention to in the chart, and more.
I grew my options trading account by almost 200% in my first year.
The most important things I learned from The X Team?
- Options trading is about risk trading of the premium.
- Don’t go for jackpots.
- Stay in the game. Be steady. Don’t fight the markets – respect them.
- Position sizing is super important in options trading. Don’t overdo the sizing, or it can really hurt you and your account.
- Charts and technicals are the most important thing. Focus on them and not on the noise.
- Options flow tells you how the big guys are positioning. Pay attention to it, but don’t blindly follow and trade the flow.
- Be patient and have some faith in the trade.
Believe me, there are ups and downs when you are trading options. Not all days are up, and not all days are down. As a chat room member, I learn every day, and I am always improving from past mistakes.
One thing I started doing was slowly accumulating trading profits in a separate bank account. This stopped me from trading earnings and exposing cash – a big help, as I tend to get emotional and go for big trades. Between saving my profits and following The X Team’s advice, I tend to be less emotional and more disciplined, especially when it comes to position sizing.
All in all, Explosive Options is not just any other chat room where people post trades and don’t explain what they are doing and why. I love the Explosive Options Chat Room, as I get to learn so much, and with all the experts around no one ever hesitates to answer even the most basic of questions. I definitely give credit to Bob, Dave and Suz for helping me realize my dream of owning a Mercedes.
Follow your dream! Believe in it, and always tell yourself you will get it. Based on my experience, all you need is patience, discipline, and faith in yourself.