Hey y’all,
I hope you came with your answers to which of our experts shared which myth (if you don’t know what I’m talking about, check out yesterday’s newsletter first)
But first, I want to talk about something… or more specifically, someone…
I’ll confess: I’m addicted to the Olympics.
They’re incredible. And I don’t care what’s on: fencing, synchronized diving, dressage… I’ll watch it all…
But as much fun as it is to pretend to be an expert on canoe slalom for a week, we all know what we really watch the Olympics for. We watch the Olympics to see the greatest athletes of all time do their thing…
It’s fun to watch a sport you’ve never heard of before, but the Olympics are built on the GOATs: Phelps. Bolt. Owens. Spitz.
And Ledecky.
Yesterday, Katie Ledecky won her eighth gold medal, putting her one back of the most gold medals ever won by a woman. And she did it after winning the 1500-meter freestyle by about 800 miles (I know that math doesn’t work out, but you had to be there…)
And as impressive as her accomplishment is, it only captures a fraction of her dominance in this particular event.
Take a look at this:
Katie Ledecky has all twenty of the top-20 times ever recorded in the 1500-meter freestyle.
Put another way, her 20th-best performance was better than any other human being’s best-ever performance.
That is a kind of dominance that is difficult to comprehend. Katie Ledecky can confidently say she is the greatest human to ever do this event…
But here’s what I think is really cool…
A few days ago, Ledecky didn’t win gold. She actually took bronze in the 400-meter freestyle, an event she used to dominate, losing out to her archrival, Ariarne Titmus, and an up-and-coming 17-year-old, Summer McIntosh.
She lost by nearly two full seconds and barely held off Erika Fairweather to stay on the podium.
But she was right back in the pool dominating yesterday, setting her 8th-best time and history’s 8th-best time on the 1500-meter freestyle.
Here’s the point:
Olympians train their entire life to get to the highest level. Then the train for four-year cycles to actually perform at the next Olympics. But then, their fate is decided by these 2-minute bursts of greatness, and they only get one shot. Sometimes they lose. To paraphrase a disclaimer I know by heart: losses CAN and WILL happen at the Olympic Games.
But for Olympians at Ledecky’s level, they have no choice but to shake off the loss and get right back in the pool. Sometimes it’s days later. Sometimes, just hours. But they always get back in the pool.
Traders can learn a lesson from that mindset. Losing trades do happen. But they can’t destroy you.
Even if you took a really tough loss, I bet it doesn’t sting as bad as losing an event you trained your entire life, plus the last four years exclusively for.
It probably doesn’t sting as bad as diving at the wrong angle with the world spotlight on you, or losing grip of the high bar, or tripping and falling over a hurdle on the Olympic stage.
But you have to get back up and get back in the pool. Olympians only have so many opportunities, but for traders, there’s always another race.
Quick word from Geof then we’ll get to the myths! Hey everyone!
What do you think of when you hear the word “Oklahoma”?
If I had to guess, it’s one of three things: Sooner Football, “Where the wind goes whistlin’ down the plains,” or, there’s a good chance you think of absolutely nothing.
But that’s my home state.
And from this day forward, when you hear Oklahoma, I want you to think about this incredible new trade.
Because, thanks to a discovery I made in the middle of nowhere in Northwest Oklahoma, I’ve found an entirely new way to target one of the most powerful asset groups for weekly income.
>>> Join me LIVE today in just a few minutes, and I’ll tell you all about it! Alright, so, as a reminder, here are the five myths we shared yesterday (remember, two were from our friend Geof)... - “Options are risky, stocks are safe”
- “Trade more, make more”
- “Call options are the best type of options”
- “The markets move because of logical reasons”
- “I’m right and the market is wrong”
Do you have your guesses ready?
Here are the answers…
“Options are risky, stocks are safe” — Nate Tucci
This one felt pretty obvious to me, but I listen to Nate a lot.
If you’ve ever heard him get on his soapbox about this (and it’s important), he makes really great points about how options trades, and especially credit spreads, are often thought of as “advanced strategies,” when, in fact, they’re amazing for beginners.
I’ll get more of his thoughts on this together and bring them to you in a future newsletter!
“Trade more, make more” “I’m right and the market is wrong” — Geof Smith
These are both great insights from Geof. I can’t wait to pick his brain on them after he shares the Oklahoma Trade with you all over the next few days!
“Call options are the best type of options” — Graham Lindman
No surprise that the king of the wrap order isn’t a huge fan of call options. And he’s right.
I think one of the biggest misconceptions we can fix here at ProsperityPub is the idea that spreads are too complicated, too risky, or overly advanced. None of those three labels even remotely apply.
In fact, spreads are the very first options trades I placed, and they helped me grow my tiny starter account from $800 to $2,700 over about three months. But more on that another time.
“The markets move because of logical reasons” — Jeffry Turnmire
No surprise here. JT loves picking on the market and its illogical movement.
Fortunately, he’s found the market math underneath it all that helps project moves. That’s behind his Apollo Algo and so much else of what he does.
I look forward to sitting down and picking his brain on all of it!
So, how did you do? Did you get them all right?
No worries if you didn’t. I’ve gotten to spend a lot of time with these experts, picking their brain and learning how they think. And if you feel like you haven’t… well, that’s why I took over this role! To try to start to change that!
And we’ll get started real soon by talking about our first myth with one of our experts.
Until then…
Stephen Ground
Editor-in-Chief, ProsperityPub |
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