Slowly Getting Back to Normal

First I would like to welcome our new readers. Main Street beats Wall Street had a bunch of new subscribers the last month. I guess a lot of people see a potential in the market in the next year and want to learn as much as possible to try and capitalize. However, let me be very clear, with market volatility my strategy does not change. You know how I feel about “get rich quick” schemes. The market is no place for new schemes! I believe as I always did, “slow and steady, steady and slow” wins the race!

Over the weekend I did a lot of work with my account figuring out the numbers since the coronavirus collapse. At my lowers point, on March 16th, my account was down 34.58%. Since then I’ve been using my knowledge to recover. I haven’t been posting all my trades because all of them don’t fit into my teaching. They were moves I wouldn’t recommend to a Grasshopper. And quite frankly, there’s just too many!

I started my recovery by balancing my account between Long and Short positions in the middle of March. I did this to stop the bleeding while I worked on a strategy according to the way the market was moving. This worked well! Then I leaned toward Long or Short positions according to where I felt the market was gonna move. Many of these trades were Day Trades. I’m not a Day Trader but if I saw an opportunity to grab profit, and it happened to be in the same day, I did. I’ve been doing this, even today.

If you read my last post I reported that I was gonna start getting into long term positions again. This would be with LEAPS. These positions helped a lot today. My account is up $17 grand. That doesn’t mean this money will be in my account at the end of the week, but it’s there now.

This has been a wild month. I’ve been scratching and clawing to get my account back to where it was on Jan 1st. I have a little to go, but I’m getting close. One of the things I did to show things are getting back to normal is I returned my “Active Trades/Current Positions” page back to Main Street beats Wall Street. If you look at this page you will see all the positions I have active right now. Also on that page you will see my results for the last 3 weeks. I normally list all the trades but there are just too many. I will let you know how much my account recovered each week. Please remember, this is a site to teach you how to make money with a disciplined way of trading, not to show you how I’m doing. I only list my results to inspire you. Let you know the potential of being a trader if you learn to do it correctly. Because of my knowledge I was able to go from down 34.58% to only being down 5% at the end of today. Who knows what the rest of the week will be like but as of right now I’m down 5% from Jan 1st. The DOW is still down over 20%. If we didn’t have this coronavirus situation I think I’d be well on my way to matching last year’s result of up 101%.

If you look at the Active Trade page you will see a lot of positions. Look at the ones I got into today. They will be dated 4/6/20. My Covered Calls started as Naked Calls, but, because of the way the market was moving I put protective “Buy” orders in place in the case the stocks got close to my Strike Price. As a result I own 1000 shares of RH and TWTR. I really didn’t want to own the shares but since I sold the Calls I had to cover. You can also see the LEAPS I own. These are long term positions, and they did great today.

If you have any questions about any position send me an email.

Keep studying! There’s a lot of money to be made.

I am locked up in my house with my wife staying safe. I’m on Zoom talking with family members a few times a week. I hope you’re doing the same. My only concern right now is my New York Firefighter son. He’s out there! I pray he stays safe and this will all be over soon.

This is a great time to get some studying in. Stay safe!

Successful Trading,

Steve

The Options Coach