Monday, May 10, 2010

SUCCESS STORY

Morn' Jerry:
Back Ground:
What has happened to us, both myself and my wife feel is amazing. I admitted
to you when I first started the Options Magic class that my entire trading
career was riddled with one disaster followed by another (1987, 2000 and
2008/2009). Always trading on the wrong side of the market it seemed. Make
some money, then lose it all in the next deep correction, followed by
periods when the market rebounded and I wasn't in it. Never once, may I
repeat that a little clearer - NOT ONE TIME in my thirty year trading career
have I been successful .... before now.

I only trade now with a small percentage of my trading portfolio compared to
in the past after I finished Options Magic. Because so many of my trades
turned positive quickly I find I can't stay invested. I seem to take profits
too early but gains up around 100% to 150% get tempting because of my past
failures. I would like to have up to 75% of my trading portfolio invested
but I'm only keeping 20% to 25% in the market at a time generally. Usually a
mixture of Stocks and Call Options in Bull Markets. Puts and Reverse ETF's
during corrections. Since I started trading options on March 1st of this
year, I have had many One and Two Day Doubles.

I just went back and added up my trading gains since I begin trading
following Options Magic course one. My gain since that time is $90,800 - all
coming in just 9 short weeks. I keep this pace going my net gain for the
year could be up around 1,000% pretty easily.

Thursday, May 6th Crash:
Ahead of this event I started getting very nervous and went totally cash
about a week before the event. Jesse Webb was telling his subscribers to
Market Trend Signal well ahead of time this thing could be coming. He even
said 48 hours before it happened we were "Close to a Market Sell Signal".
Then made what I call a "Genius Market Sell Signal" the night before it
happened. He said liquidate everything at the opening bell. About four hours
later it tanked - big time! Jesse couldn't have made it any clearer to us
and knowing his background and success, I knew I would be one to follow it.

That day I placed the following three trades thinking he would be right.
Remember, I was already all cash so at Thursdays opening I placed a PUT
OPTION trade on the QQQQ's using June 19th expiration date - Strike price of
$47.00 (which was just barely out of the money). I bought 150 contracts at
$1.48 ($22,320)- plus $82,000 split between two Reverse Leveraged (3x) ETF's
- the SQQQ and TZA.

Then I watched the action on my computer and sorry to say, I found myself
becoming a cheer leader. During the peak of the frenzy my Put Options hit a
profit of $48,000 on the screen. Ironically, this happened on the only day I
wasn't playing golf so I was watching it take place. That night Jesse's
Market Trend Signal said we could get a bounce in the next couple days so on
Friday I sold all three trades at a profit of $20,941 after all commissions.
I couldn't even begin to calculate an annualized profit percentage I made
from one day of trading. I got my sister going along with what I am doing
and following my trades. She's like a little kid in a toy store with what's
happening. Lucky for me she lives in Texas and I'm in Montana - being around
her could drive me nuts she's so giddy! Might as well be her - I have to
follow orders from Jerry McCann and stay level headed!

I cannot Thank You enough for the training I was given and the market
trading advice I receive from you daily. I feel like I have a Guarding Angel
walking beside me every step of the way, even though I am investing on my
own. My wife would like to send her Thanks along with mine - adding "It's
about time someone straighten him out."
Smile one all all!
Sorry this message is so long - it is worth telling and it was also fun
recalling the last two days.

Harley R.

7 comments:

  1. jerry im a new member was reading blog about lesson 1 for trying to recover investment, with a option spread could you send it to gumbledc@aol.com are you calling members on the phone with help ? if so i was to have a call at 7 pm central Thanks for any help Dick Gumble

    ReplyDelete
  2. Hmmmm, that put option you bought on q's should have more than doubled on May 6! I don't see how you invested so much in being short and yet made so little that day.
    "I couldn't even begin to calculate an annualized profit percentage I made from one day of trading."
    - haha, yeah that would be pretty stupid! Annualizing what you made in a once in a blue moon crash day, as if you could make that everyday.

    ReplyDelete
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  4. Thanks for your sharing post. Decided to go with a 10-minute time frame, just because this market can be a monster. I also kept the Market Trend Signal on, and always check the market bias dots to ensure I am on the right side of the trend. https://inteligex.com/tag/market-trend-signal/

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  5. Hello Dear,
    Thanks for your post. Decided to go with a 10-minute time frame, just because this market can be a monster. I also kept the Market Trend Signal on, and always check the market bias dots to ensure I am on the right side of the trend. market trend signal

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  6. Decided to go with a 10-minute time frame, just because this market can be a monster. I also kept the Market Trend Signal on, and always check the market bias dots to ensure I am on the right side of the trend. market trend signal

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