Make more money by doing your own homework

Make more money by doing your own homework

I have two B.S degrees in two very different disciplines. I graduated with two very different GPA’s. The higher GPA is in a discipline that many consider
harder. My ability to learn didn’t change between the two degrees but my knowledge of how to learn and my motivation was considerably different.

Turns out the harder I worked the better my grades got. I not only worked harder but I also worked a lot smarter. With my second degree I did my own
homework and I did a lot of it. I had three semesters of calculus all taught from the same book. I did every problem in that book at least once. I believe
in each of those three classes I was at or near the top of the class. Something I did not achieve in any of my classes with my first degree. My calculus II
instructor was a much better fit for me than the other two. I still did every problem in every chapter we covered. While the instructor made it easier to
grasp the material, it came down to doing the homework. Interestingly, a friend of mine later had the same instructor I found to be the best. I got one
test problem wrong for the entire semester (the derivative of X squared + X doesn’t equal 4X) and he failed the class. He didn’t do the homework. Do your
own homework.

I was highly motivated with my second degree because my first degree didn’t help me get a job. My GPA was too low to be respected. So for my second degree
I decided that if my GPA dropped below 3.5 I would go back to selling motorcycles. I liked selling motorcycles and I was good at it but the hours were not
very desirable. The hours of an options trader are whatever they want them to be, after they have done their homework.

My high GPA opened doors before I even graduated. The dean of the college was told about a project that I did for a class using programing skills I was
learning in another class. He was impressed with my GPA and innovation so he asked me to teach. There I was, a guy with a B.S. degree with a terrible GPA
teaching college level classes in my new degree because of a high GPA. I did the homework. Having a strong knowledge of options will allow you to do what
you want to do.

In the front of my calculus book the forward said something like this: Read a book on swimming, jump in a lake and you will drown. Read a book on calculus
and you will not learn calculus; you need to do the homework. For options trading that means practicing by virtual trading and using a tool like
Trademonster’s Spectral Analysis to model trades and see how they work.

Options are a very different way to make money. We grow up being told to buy low sell high, buy and hold, diversify… Basically we grow up being told there
is only one way to make money in the market or that we can’t make money in the market. Options open up a very different way to make money that we never
imagined possible. But we must do the homework! The more homework we do the more ways we can make money and the more often we make money.

There are plenty of services out there with trade recommendations that will end up losing you money. They might very well do their homework but they don’t
do your homework. They don’t know how much money you have to trade, how much time you have to trade, how much patience you have, how much tolerance for
risk you have, how much knowledge you have……

If you do your own homework you can tailor a trading plan that fits you. A trading plan that fits the amount of time you have, the amount of money you
have…. You will understand how the trades work, how likely they are to work, how, much money to risk in each trade and how much you can expect to make. And
you don’t have to pay anyone but yourself and broker fees.

The more homework you do the better options trader you will become, the better your GPA. You will have more tools to use to make money. Your homework will
open doors to more types of trades on more types of equities. This is homework that will make you money. It will stretch your mind, a good thing, and fill
your pockets.

Good trading,

Ken Bailey
OptionsANIMAL Instructor

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