Make Money Trading Options by Michael Sincere Summary
Overview of Make Money Trading Options
Master the options market with Michael Sincere's enduring guide that traders swear by. Beyond basic strategies, it debunks common myths while emphasizing crucial psychology and risk management. No complex formulas - just practical wisdom that's kept this resource relevant through multiple editions.
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Key takeaways
When a Teacher Lost $40,000 in a Week
Sam thought he'd found his retirement golden ticket. A former high school teacher with a modest pension, he'd been reading about options trading for months. The stories were intoxicating-ordinary people turning small accounts into fortunes, traders making more in a day than he'd earned in a year of teaching. So he transferred $50,000 from his retirement savings and dove in. Seven days later, he'd lost nearly $40,000. What happened in that catastrophic week reveals everything about why most traders fail-and what separates those who survive from those who don't. Sam's mistakes weren't exotic or unusual. He placed market orders that filled at terrible prices. He chased hot tips from his neighbor. He doubled down on losing positions, convinced the market would prove him right. He traded without a plan, driven by emotion rather than analysis. Most dangerously, he risked money he couldn't afford to lose. His story isn't unique-it's the default trajectory for traders who prioritize profit over protection. Warren Buffett's first rule echoes here: never lose money. The second rule? Never forget the first. Options trading isn't about avoiding all losses-that's impossible-but about keeping them reasonable while earning more than you lose. The foundation of sustainable trading isn't found in complex strategies but in something far simpler: managing risk before chasing reward.
The Laboratory Approach to Finding Winners
Reading the Market's Daily Mood
Riding the Market's Biggest Waves
The Mechanics Behind the Magic
The Speculator Who Made $100 Million and Lost Everything
The Wisdom to Wait and the Courage to Act
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"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
From Columbia University alumni built in San Francisco
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
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