Jay Kaeppel

Everyone says “this will end badly” but it won’t end badly until everyone stops saying “this will end badly”. An example: In summer 2007 I had clients yelling at me for underperforming, not making enough money. Today? I have clients asking me when they should sell it all.

If you believe the market is wrong, you'll eventually lose all your money. There is no right, there is no wrong, there is only price. And the ONLY thing that matters is how you respond to it above and below your entry.

The chase for momentum has gone vertical....literally.

When the market rips like this most traders spend most of their energy doubting it and worried about when it will end. Yea in a bull market, especially one like this everybody “can make money” but it doesn’t feel natural when stuff works so well and keeps trending higher so instead of leaning in to the easy feeling, all the time is spent being suspicious of it.

There is no way to avoid losses or losing streaks. Any attempt to avoid what cannot be avoided will trap you forever in a loop of improvement. Treat them as something that will inevitably occur. Losses and losing streaks are part of the system, and the system must be designed so that they themselves become part of the edge. This is not a matter of mindset. It is a matter of mathematics.

Good book. If you want to learn. 🙂 And after reading it, you will almost certainly know more than 90% of people selling courses/services on trading options out there.

this is financial advice