At the rate things are going here in CA I'll be taking my early retirement & reduced pension in no time for being a filthy dirty unvaxxed, buying your latest book, and joining the trading crowd!
I WILL NOT take that shit bro! Thankfully I have a most Plan B to retreat to, but this is fucked up....and yet, it would also be liberating to leave Gov employment in the rear view. Good luck bro all the best; I'll be using the Religious Exemption for all it's good for, hopefully buys some time at least. Take care my fellow unvaxxed brother don't let them wear you down!!!!
They are saying that you shouldn't quit, let them fire you and you can take them to court and sue them. I would not hire a lawyer just get all your paperwork together. They cannot lawfully let you go because of it.
Haha I'm government employee as well. Surrounded by quite a few that have swallowed the vax pill and you can clearly see the animosity growing towards those that haven't. Hoping to break free with choice investments etc. All the best.
Have prepared that in case someone around me needs
...
"I am writing to you regarding the matter of the possible Covid vaccination and my desire to be fully informed and know ALL the facts before I get vaccinated. I would be most grateful if you could provide me with the following information in accordance with the law:
1. can you please tell me if the vaccine is legally approved and if it is experimental?
2. can you please provide details and assurance that the vaccine has been fully, independently and rigorously tested on control groups and what the results of these tests were?
3. can you please tell me the full list of ingredients in the vaccine I am to receive and whether any of them are toxic to the body?
4. can you please tell me all the side effects associated with this vaccine since its introduction?
5. can you please confirm that the vaccine you are advocating is NOT an "experimental mRNA gene modification therapy"?
6. can you please confirm that, in accordance with the Nuremberg Code, I will not be pressured in any way by you as my employer?
Once I have received all of the above information and I am confident that there is NO danger to my health, I am happy to accept your offer of treatment, but under certain conditions - namely that:
1. you confirm in writing that I will not suffer any harm.
2. the offer must be signed by a fully qualified physician who accepts full legal and financial responsibility for any harm that may befall me and/or authorized personnel in connection with these procedures.
3. in the event that I have to decline the offer of vaccination, please confirm that this will not affect my position and that I will not be disadvantaged or discriminated against as a result?
I also point out that my inalienable rights are reserved."
That's beautiful! Reads a lot like the 5 pages of legal papers I've printed off of Solari.com to have the tyrannts sign; will be sent Certified Mail for prof of receipt. Not expecting any action of course!
Serious question, for Greg or any other veteran trader. What is a minimum balance for a beginning trader that you'd suggest. I know this is a question that varies per the individual; I was thinking at least 5K in currency that I can afford to lose. Thanks Lions!
Think 5K is ok to start. One single trade imo should be at least 1K. The first goal of a trade is not to make a loss. The second goal should be to gain 10% per trade. You can achieve this with relatively low risk. (Always remember the first goal.) Very important are low fees. The smaller your stake, the higher the percentage of fees. Always calculate in percent. Never in USD. You must always know before the trade how much you are willing to lose if it goes against you. If you say you are willing to lose 500 usd, after that you have to win 5 x 10% to win those 500 USD back. In this example: if you manage a hit rate of 80%, which is very good, then you end up at plus minus zero at the long run. Therefore, the first goal is always not to make a loss. Or to limit the loss. Your Money Management is the most important part of your trading.
I started with with 3500.00 but yes $5000.00 is good. Really get good at assessing your risk before each trade. Lots to learn but well worth it if you want to be free!
Greg, doesn't selling puts 20% OTM for 2-4 weeks yield very little profit? I'm not exaggerating but seems like approximately $10 premium earned to lock up $100,000 of capital reqired to buy the underlying stock? What am I missing?
Its true that in order to make money you have to have it, unfortunately.... But If you are able to sell large numbers of contracts, which I do, it is a nice way to get steady profits. We all start out small, I did, then you work towards a bigger goal.
I appreciate the reply, Greg. Yes, I get you have to have money to make money but that isn't exactly my point. If you make $10 every 2 weeks selling OTM puts, but need $100,000 capital to do so, that's still only $260 dollars a year on $100,000 capital. Let's say you are holding $1,000,000 cash...that's only $2600/year on $1M. Either way it is only .26% profit per year. Surely, there is a better strategy to make more than .26%, even if you have $1M capital? The percentage doesn't change. .26% gains is the strategy? That's worse than a savings account.
Greg, just to be clear, I am a huge fan of yours. I watch both your videos every day, own your book, think you a right on with the market environment, and made money on your plays earlier in the year back when you were advocating buying 6 months calls just ITM. A couple are underwater now (JPM making a comeback before Sept 17th expiration for me) but I truly do not get this selling 20% OTM puts for tiny, tiny percentage gains.
I just checked that exact play and selling JPM puts @ 130 expiring Sept 10th (2 weeks out) would lock up $13,000 capital and pay $6.34. If you do that 26 times in a year that's $164.84 per year on that $13,000 or 1.26% profit. Surely 1.26% profit per year cannot be the goal. No matter how much capital you have, it's still only 1.26% profit. How can this be a good strategy? A money market account would pay more and have no risk of having to own a large amount of the underlying stock. I truly do not get this strategy.
At the rate things are going here in CA I'll be taking my early retirement & reduced pension in no time for being a filthy dirty unvaxxed, buying your latest book, and joining the trading crowd!
Same boat, man. Almost to a T.
I WILL NOT take that shit bro! Thankfully I have a most Plan B to retreat to, but this is fucked up....and yet, it would also be liberating to leave Gov employment in the rear view. Good luck bro all the best; I'll be using the Religious Exemption for all it's good for, hopefully buys some time at least. Take care my fellow unvaxxed brother don't let them wear you down!!!!
They are saying that you shouldn't quit, let them fire you and you can take them to court and sue them. I would not hire a lawyer just get all your paperwork together. They cannot lawfully let you go because of it.
thanks man that's the plan!
Haha I'm government employee as well. Surrounded by quite a few that have swallowed the vax pill and you can clearly see the animosity growing towards those that haven't. Hoping to break free with choice investments etc. All the best.
Yeah I nearly had an altercation w/a crazed vaxxed on Monday. The looks of cognitive confusion on the masked vaxxed is a sight to behold!
Have prepared that in case someone around me needs
...
"I am writing to you regarding the matter of the possible Covid vaccination and my desire to be fully informed and know ALL the facts before I get vaccinated. I would be most grateful if you could provide me with the following information in accordance with the law:
1. can you please tell me if the vaccine is legally approved and if it is experimental?
2. can you please provide details and assurance that the vaccine has been fully, independently and rigorously tested on control groups and what the results of these tests were?
3. can you please tell me the full list of ingredients in the vaccine I am to receive and whether any of them are toxic to the body?
4. can you please tell me all the side effects associated with this vaccine since its introduction?
5. can you please confirm that the vaccine you are advocating is NOT an "experimental mRNA gene modification therapy"?
6. can you please confirm that, in accordance with the Nuremberg Code, I will not be pressured in any way by you as my employer?
Once I have received all of the above information and I am confident that there is NO danger to my health, I am happy to accept your offer of treatment, but under certain conditions - namely that:
1. you confirm in writing that I will not suffer any harm.
2. the offer must be signed by a fully qualified physician who accepts full legal and financial responsibility for any harm that may befall me and/or authorized personnel in connection with these procedures.
3. in the event that I have to decline the offer of vaccination, please confirm that this will not affect my position and that I will not be disadvantaged or discriminated against as a result?
I also point out that my inalienable rights are reserved."
:::
> nobody will sign it.
That's beautiful! Reads a lot like the 5 pages of legal papers I've printed off of Solari.com to have the tyrannts sign; will be sent Certified Mail for prof of receipt. Not expecting any action of course!
A Country Boy Can Survive
https://www.youtube.com/watch?v=3cQNkIrg-Tk
I always thought there was a little hillbilly in you.
You Lions are really awesome thanks for all the love & advice, good to know there's many others in the Fight!
Serious question, for Greg or any other veteran trader. What is a minimum balance for a beginning trader that you'd suggest. I know this is a question that varies per the individual; I was thinking at least 5K in currency that I can afford to lose. Thanks Lions!
Think 5K is ok to start. One single trade imo should be at least 1K. The first goal of a trade is not to make a loss. The second goal should be to gain 10% per trade. You can achieve this with relatively low risk. (Always remember the first goal.) Very important are low fees. The smaller your stake, the higher the percentage of fees. Always calculate in percent. Never in USD. You must always know before the trade how much you are willing to lose if it goes against you. If you say you are willing to lose 500 usd, after that you have to win 5 x 10% to win those 500 USD back. In this example: if you manage a hit rate of 80%, which is very good, then you end up at plus minus zero at the long run. Therefore, the first goal is always not to make a loss. Or to limit the loss. Your Money Management is the most important part of your trading.
Sounds like you have your plan in place, enjoy!
I started with with 3500.00 but yes $5000.00 is good. Really get good at assessing your risk before each trade. Lots to learn but well worth it if you want to be free!
Greg, doesn't selling puts 20% OTM for 2-4 weeks yield very little profit? I'm not exaggerating but seems like approximately $10 premium earned to lock up $100,000 of capital reqired to buy the underlying stock? What am I missing?
Its true that in order to make money you have to have it, unfortunately.... But If you are able to sell large numbers of contracts, which I do, it is a nice way to get steady profits. We all start out small, I did, then you work towards a bigger goal.
I appreciate the reply, Greg. Yes, I get you have to have money to make money but that isn't exactly my point. If you make $10 every 2 weeks selling OTM puts, but need $100,000 capital to do so, that's still only $260 dollars a year on $100,000 capital. Let's say you are holding $1,000,000 cash...that's only $2600/year on $1M. Either way it is only .26% profit per year. Surely, there is a better strategy to make more than .26%, even if you have $1M capital? The percentage doesn't change. .26% gains is the strategy? That's worse than a savings account.
Greg, just to be clear, I am a huge fan of yours. I watch both your videos every day, own your book, think you a right on with the market environment, and made money on your plays earlier in the year back when you were advocating buying 6 months calls just ITM. A couple are underwater now (JPM making a comeback before Sept 17th expiration for me) but I truly do not get this selling 20% OTM puts for tiny, tiny percentage gains.
So if I sold a JPM put expiring in 2 weeks, I would lock up about $13,000 in capital in order to make about $10! What am I missing?
I just checked that exact play and selling JPM puts @ 130 expiring Sept 10th (2 weeks out) would lock up $13,000 capital and pay $6.34. If you do that 26 times in a year that's $164.84 per year on that $13,000 or 1.26% profit. Surely 1.26% profit per year cannot be the goal. No matter how much capital you have, it's still only 1.26% profit. How can this be a good strategy? A money market account would pay more and have no risk of having to own a large amount of the underlying stock. I truly do not get this strategy.
Sure I can sell a large amount of options but it seems like there may be better stocks where this strategy works.