I'm Michael from Lexington, SC, near Columbia.
I've invested a fortune in buying programs and methods and things of that sort, and I wasn't going anywhere. So I think it was late 1990 something I bought Don Fishback's first package.
It sounded pretty good. And then I bought Trademaster, and started using that and paper trading.
It turns out I have a stack about this high of paper trading using the Trademaster, and I got more interested because it seemed to make sense.
The trades proved out and the ones that didn't would tell me that. While this was not a worthwhile trade because in credit spreads most of the credits would be like .15 cents or .30, so I would stay away from it.
I was still playing with other methods, and this would stand out more. So with everything I experienced for so many years, I realized that you can't get too greedy.
And you can't just buy a call and hope it goes up into the stratosphere and you're going to make a killing.
Because I've made money & I've lost money. And it seems like with the credit spreads, which is what I'm doing now, I've been making money consistently.
It's not a lot of money, but it's fairly consistent with high probability. Trading options credit spreads, both calls and puts. So called iron condors and I've been doing pretty well.
I've been averaging about $5,000 to $8,000 a month. That's buying many contracts. I'm buying like 40 - 80 contracts at a time. So that gets up to like $3,000, $4,000, $5,000 dollars, and a couple of small losses.
And there was a month I didn't get in because I was a little greedy and I wanted to make more than I could.
And I've been using Trademaster to get the profit that I want, the probability of profit and it gets me the credit spread that I want.
If the probability is 85-90%, I usually go with it and it's been working out. I kind of like his method, his style, and it seems to work for a smaller investor like me.
Especially if you're making money. It's like a hobby for me because I'm retired, or semi-retired and I spend a lot of time doing this. I like it!