Podcast Transcript

Okay, now you guys might not know this, but Option Genius has been around for over 10 years. And I mean, time sure flies fast. And we get a lot of emails from people asking for help with trading. And it’s, you know, very similar email it’s like, hey, you know, I’ve been trading for this much time, and I need help with this, or, you know, what do you suggest? What do I do? How do I help in this situation. and most of the time, it’s really hard for us to figure out how to help, because we don’t know exactly what the person knows and what level they’re at. So I created what I call the option continuum. So I wanna spend a few minutes explaining the different levels so that you can figure out what level you are on. And then you’ll know much better how you can progress to the next level, to get to your goals. And then we’re going to go in deep in the ways to actually move you up from level to level, so you can take notes on that.

So Level One, “Option Clueless”. This is where you don’t know anything about options. You know, we might have some people like that here. And that’s why we gave you a copy of the passive trading book that’s gonna get you up to speed really quickly, but like a, what’s a call a put? What, why? What are we selling? How are we selling these things, all this kind of stuff? If you don’t know anything about Options, that’s Option Clueless.

Level Two is “Options Scared”, where you are interested – options sound good, but they’re still out of your comfort zone, and you don’t know where to start. You know, so you’re basically “Hey, I heard something. I heard somebody talk about options, or I read something, and it seems great. What do I do now? What’s the next step?” You’re still scared, right? Because options have a negative connotation in the world? Because most of them are used by gamblers and (inaudible). So you talk to anybody, you know, even if a financial planner, they’re going to tell you no, no, no options. No, no, no, that’s gambling. That’s risky. No, we’re not going to do that. Because your financial planner doesn’t get paid for helping you trade options. And that’s, I mean, bottom line, we got a financial planner next door. I mean, he does the same thing. He goes, You know, I wish I could trade options for my customers. But I can’t, and my company won’t let me and I won’t make any commissions off it. So I don’t do it.

Level Three is “Option Confused”. So this is where you’re starting to learn. And it’s getting overwhelming, you know, call, put, standard deviation, implied volatility, you know, what is that there are two different types of volatility, implied and relative and all this other stuff. I don’t know how to make this stuff work. And then I got to get a trading account. And I got to put lines in everything and “Oh, my God, this is crazy”. That’s level three. 

Level Four is “Option Curious” starting to understand the things, starting to understand the lingo and then seeing the potential – that’s where you’re at number four, you’re curious, you’re like, “Okay, I’m going deeper into this, I want to start doing this, I want to start putting some trades on I want to play with this”.

Level five is “Option Dangerous”. Okay. Now, this is where you know, some stuff, but you don’t know what you don’t know. And this is where most traders unfortunately live. So they go through the first four steps, the first four levels, they get to level five, and they’re just over and done, inundated with information, they start doing things, and they start doing things wrongly, they get upset, and then they give up. So this is a level where most people give up. And that’s why I call it dangerous because you are a danger to your own account, your own money. People start trading, they get overconfident, they lose a bunch of money. It’s like oh, Options It’s easy, it’s easy. Yeah, like I said, I could just place a trade 80% probability of profit and I’ll make money. It’s a little bit more than that. We’ll get to that. But you know, they lose money. They either quit, or they get super skeptical. If they haven’t quit. You know, maybe they still like they’re still convinced that it works. But they’re super, super skeptical. Now, maybe you bought a course, watched some videos that didn’t cover enough what you needed. And that covered, you know, that made the lawsuit. I don’t know what the reason is. But unfortunately, this is where you don’t know what you don’t know. And you don’t know enough to make it happen. And then you get upset.

Level Six Options Humble – this is on the other side of that. So once you pass the danger and the anger, you get to humble. So this is where you know that there is more to learn. It’s not going to be a super easy walk in the park. It does take some time to learn. And you are humble enough to realize that and that you should probably ask for help. Right? That’s where the humility comes in. 

Level Seven Option Underachiever. This is where you start making positive trades – you’re doing it you know, you’re practicing, you have a strategy it’s working, but you know, you can do better. You know, maybe you make several winning trades in a row but then one loss wipes them all out. Or you’re not as consistent as you want to be. You know, you’re still a little bit concerned. You’re still a little bit scared of the markets. You know, you’re stressed out. I don’t know if I should be trading I don’t I’m scared to put more money in. That’s where you’re the underachiever.

Level Eight is Options Confident. This is where you’re profitable, you got trades working things are looking good. This is where you start to scale up. Okay? And then nine is where most home traders like us this where they aim to be. So you’re consistently profitable, the hard work has paid off, the gains are happening. And they’re growing and compounding and the accounts are getting bigger and bigger and bigger. And then some of you guys might want to go to Level 10, which is Options Professional, where you’re managing money for other people. Now, once you get to level nine, and it starts working, and things are happening, and you start making more and more money, people are going to notice, they’re going to notice that you’re more confident, they’re going to notice that you’re spending more money on certain things, that money doesn’t bother you as much. And they’re going to start asking you why. And then you could tell him, “Hey, I training options”. And as a good normal person, you’re probably going to want them to do well as well, because they’re fairly family and friends. And so you’re going to try to teach them, and you’re going to try to explain it to them. But they’re not gonna listen. Trust me. I’ve tried very many times with lots of people. They’re all excited. They’re like, Hey, how’d you do that? You know, how come you can afford all this stuff? Well, hey, I trade options. Oh, really? Wow. Oh, what is that? And you explain to them, and they look at you. And they nod. They’re like, wow, and then they turn around, they go look for somebody else to talk to, because they’re bored out of their minds, and they’re never going to do it. So that’s the type person that’s going to later on come back and tell you hey, can you trade for me? If I gave you some money? Can you take it for me? And I had people tell me? Oh, if I gave you $1,000? Could you trade it for me? What are you out of your mind? $1,000 What do I look like? You know, I have people who say “Hey, I have $100,000 can you trade it for me? Or even more. You know, I had a friend who had a million dollars and he’s like, you know, I don’t know what to do with it. Can you can you do this? I’m like, no, no, I don’t do it. I don’t do it for anybody. Recently, I just started doing it for one person, my friend of mine, he wouldn’t let me go. And so I think you know how I talk about being mental. Most of the game is mental. Well, to go from 9 to 10. It’s a mental shift. Because now it’s not just my money at risk. Now it’s somebody else’s money at risk. And I’m trying to overcome that shift. I’m trying to get out of my comfort zone and take that in myself to the next level. So these are the 10 levels. Let me know in the chat. Where do you think you are?

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