A common theme around these parts is the importance of risk management. Thanks to chat room member Jeremy's openness and honesty, we get a perfect real life example on why we preach risk management so much. Jeremy's account got off to a booming start as he grew it over 200%; however, in a matter of only one trade, he gave up all the gains and was right back to where he started. What did this teach him? Where did his journey go from here? That's what we learn about in this week's podcast. Notes: Jeremy's introduction to the market was in 2012 when a financial advisor wanted to put his money in mutual funds. He decided that he would learn how find opportunities himself to generate larger returns. Being on a smaller account, Jeremy was trading lower priced names in an attempt to own more shares and generate larger returns. He also had a friend who turned 3k into 300k over a few years and this friend was the one who pointed out to him that he needed to expand his education first before diving headfirst into the market. He decided to puppet trade a biotech trader friend of his. While he grew his account from 2k to 6k, one bad trade took 66% of his account and put him back at even for the year. Since he decided to trade options, Jeremy is capable of trading much higher cost names for a drastically lower price and simultaneously manage his risk based on how he structures his option spread trading. Utilizing the advanced options techniques, Jeremy has found his place in the trading world to generate weekly profits based on probabilities while adhering to the agreement he made with his wife about not adding to the account. He is growing the account naturally based on a solid trading plan. Quotes: "I just realized that number 1, I cannot predict the stock market and number 2, you had to hold shares for a long time." tweet this quote "We did a spit handshake agreement that I could not take any other funds from our account to add to my broker account." tweet this quote "75-80% of my spreads expire worthless on Friday's and it has been awesome to do with a small trading account." tweet this quote Links: Course: Advanced Options Trading

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