What You Need To Do As An Options Trader with Kirk Du Plesses @optionalpha

The Trading Edges Podcast

In this episode we talk options with Option Alpha’s Kirk Du Plesses. Having had my own ups and downs trading option, I think one of the most salient points Kirk drives home early in the show is that "it’s not about finding the fast track, it’s about finding the right track the fastest". I think as traders many of us have this propensity for new shiny objects or shiny object syndrome. This keeps us in a never ending loop of chasing the next strategy, the next indicator, the next big stock, and so on and so forth. All of this misses the real mark and that is skill development. The key to skill development which I will be covering in a future episode is this idea of "deliberate practice", ie. creating a process in which you are learning and developing your skills as a trader with structure, persistency, consistency, and intention. So on this podcast you’ll hear and learn about - - Why it’s not about finding the fast track, it’s about finding the right track the fastest - What you need to do to stay in the game - What’s the hardest part of trading is for Kirk - How accountability allows Kirk to keep the same level of consistency and persistency - Why Kirk believes you need to be an options seller - Kirk’s backtesting project where he and his team back tested over 21 million strategies and the insights they discovered from the test - Where people often get tripped up with options - Simple building blocks to start with options - A 10 min. a day strategy that yields 22% annualized and compounded growth for 15 years! - And why you need to treat trading like starting a restaurant Don’t forget to head over to the resource page at http://thetradingedge.org/episode30 for the show notes and links to everything we talked about on the show.