The Option Market Can Be Very Cruel To The Novice Trader

by David Jenyns on January 8, 2007

The Option Market Can Be Very Cruel To The Novice Trader
I was the perfect pattern of the optimistic, clueless small operator who plunges repeatedly in and out of the option market. I bought option in companies whose names I could not pronounce. What they did and where they came from, I had no idea. Someone told someone who told me. There could have been no more slaphappy, ignorant option market entrepreneur than I was. All I knew was what the last headwaiter in the last nightclub I had performed in had told me was good. Early in 1953 I was performing in Toronto. Because of my first extraordinary $8,000 break with BRILUND, Canada was the option market land of financial milk and honey as far as I was concerned, so I decided this was a good place to go looking for a hot option market tip. I asked several people if they knew a good, reliable option market broker, and eventually I was recommended to one.

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