Options Trading Anyone?

Written by C Hun

The first time I knew about options trading was when I attended an options trading preview one and a half years ago in Penang.  I was so amazed with how much money a person can make from options trading. Immediately I decided that options trading is something I wanted to do all along. I signed up the offer without any hesitation.

The options trading course was conducted by Dr Clemen Chiang of Freely Business School, Singapore.  It was a 3 days 3 nights course.  Yup, you read right.  It’s full 3 days and 3 nights!  I have never attended such an intensive course until then.  Each day started at 8.30am and ended between 1-3am.  We only had about 5 hours sleep each day.  It was indeed a very taxing 3 full days.  Break and lunch time was short.  Even toilet breaks!  But hey, don’t get me wrong.  I’m not complaining.  Instead, I’m very grateful to Dr Clemen for his commitment and enthusiasm.

I must admit I was actually spoilt by all those seminars that I attended previously whereby we have good morning break, good lunch, good tea break in the afternoon and it normally ends around 5.00pm.

However, I learnt so much from the three days.  It was not only options trading but lots more for my personal development.  I started to believe that I can actually make it and become someone who is going to be very successful.

During the learning process, I discovered how tiny we are as a person. We know so little in life but we thought we know everything.  We also stop developing ourselves after graduating from university or college.  We went for training which was paid by our employer and we acquired knowledge that are all job related.  With that, we hope to move up the corporate ladder and by then, we think we are experts. Little did we know that we are just expert in one or two particular areas.  But we are not an expert in life. We may be earning so called very good income but that income is only enough for our family to live a life that is reasonably good, not GREAT.

By now, some of you may be thinking what nonsense is this guy talking about… but hey, I was like that before. I know what you are thinking. Let me share this with you… there are more things that we can learn if we have an open mind.

I started to trade with real money when we participated in the Options Trading Championship in Oct last year.  We made some losses during the championship. However, at that time I still have the thinking that I am good but because of a bit of bad luck, I didn’t make the money I wanted to make.  After returning from the championship I continued to trade. With some lucky trades, I started to make some money but it all went down the drain when I suddenly lost focus. I started to lose money again.

It was only until I attended T. Harv Eker’s Millionaire Mind Intensive seminar last year end in Singapore that I realized my problem.  During the seminar, I discovered that I had the wrong mindset.  And that was my financial blue print, a blue print that will make me work for my whole life and fail for my whole life - a wrong mindset that was developed since I was very very young.

Let me put it this way (and I belief a lot of people will be like that as well), you think that your failure is purely due to bad luck.  With the wrong mindset, you start to develop a habit of blaming others for your failure.  This is one of the simplest way to explain for your failure.  Most people think that they are unlucky, they are cheated by others, they were not at the right place at the right time, they were not given a chance to show their true capabilities.  Sounds familiar?  Prolong delay of this kind of thinking will eventually create a habit, a habit that will control your mindset and eventually your whole life will be filled with failure. You will continue to blame others until the day you die. So what will you achieve in your life?

After trading for a few months after the seminar, I realized that I still have lots to learn and there is so little time. I start to realize how important time is for me but there are still people who are wasting their time doing nothing or hoping for some miracle. I was like those people before just thinking, not doing anything.

Today, I’ve changed. I’m starting to act. I’ve changed my mindset to live a more meaningful life.

Looking back, I started trading since last October 2007, lost almost 90% of my money in my account in 7 months.  I decided that I will not be a loser again. I’m going to make money in options trading.  My target is making USD5000 per month starting from August 2008.

As a commitment, I will be putting my daily transactions here and also share with everyone how I decide on each trade.  So, do join me here regularly to see my progress and do share your personal experiences with us here as well.