Replace Your Income with Options Trading Options in the Middle of Volatile Markets with Raging Bull Founder, Jeff Bishop, Ep #139
Jeff Bishop is a professional Trader and Founder of RagingBull.com and Weekly Money Multiplier, which are both financial education and trading websites dedicated to helping other professionals achieve success in trading. He brings nearly 20 years of professional experience, and has become known as a leader in the industry. While Jeff has experience working in nearly every form of trading, he specializes in options trading. In addition to his success in professional trading and education, Jeff is also a member of the elite MENSA community, which is known as the largest and oldest high IQ society in the world. In this episode of How To Trade It, Jeff & Casey discuss the benefits of selling options, even when the markets are seemingly out of control. You don’t want to miss it!
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You’ll want to hear this episode, if you are interested in…
- [04:06] Learning to trade successfully
- [07:29] A tough year to trade
- [10:02] Volatility in the market
- [17:12] Bullish on Gold?
- [20:33] Cryptocurrency
Learning to trade successfully
The first thing I had to learn, in order to become a successful trader, was how to respect the Stop-Loss. Every trader is going to see losses. No one is successful 100% of the time. One day, when you realize that losses are a big part of trading, you will finally learn how to plan for those losses early…you plan where your “Stop” is going to be, before you even take a trade. When you learn to do this, it’s very freeing, and you gain a level of comfort when you know you aren’t in over your head in trades.
GOLD
I own gold for the long term. I have physical gold. I’ll always own gold. I’m a big believer in having it as an asset. This is probably a great time to buy too, as it is closely linked to the dollar. Right now the dollar is very extended against the Euro and other currencies. When the dollar pulls back and other currencies strengthen, gold will rally again.
Cryptocurrency
I don’t actually hold any because for me the verdict is still out. I do, however, think that crypto is here to stay and will be a big part of our lives in a few years down the road. Our best bet would probably be dollar cost averaging with the bigger blue chip crypto names like Bitcoin, Etherium, etc. Just start scaling in…low priced, high priced…so that you get a good average price over the course of the next several years.
Resources & People Mentioned
Connect with Jeff Bishop
- Website: https://ragingbull.com/
- Twitter: https://twitter.com/RagingBull
- LinkedIn: https://www.linke
Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets.
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Casey Stubbs
Freedom Income Options
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