Simple, Uncomplicated, Consistent
I am not smart enough to look at stock fundamentals and be able to predict that stocks performance over the next 6 months to a year. I am, (and so are you), able to use a sorting software such as VectorVest which narrows a search of 8000+ stocks according to my specific criteria. Then look at charts on those top 10 to 20 stocks that met the criteria and get a pretty good idea whether the stock will go up or down over the next 1 to 3 days. Then using software provided by my broker, I look for options on that stock which allows me to leverage my money. Once I put on an options credit spread on Monday, I sit back and let the market do its thing. If I need to do maintenance before Friday, my alerts will tell, and I do it. If not, I enjoy the money I took in on the spread.
My goal is to make better and better trades so I can be able to take profits on Fridays, substantial enough to live on or at least supplement my income. I do not however want to spend all day on the computer. With the system I have been successfully working, I can spend 10 minutes to a half hour in the morning prior to market open, set up my proposed trades and my game plan. Using my smart phone, I can make trades, set up and receive alerts and take profits from anywhere.
Is this simple? Yes. Is it complicated? It is only as complicated as you make it. Using my put options strategy, there are a few things you will have to learn? Well, did you have to learn some new things for your $15/hr. job? Yes, there are a few things you will have to learn how to do, but they are the tasky things like the mechanics of putting on trades and alerts; learning where and how to find options pricing sites and how to navigate through your trading platform. At some point you may want to set up some entities to protect your wealth from predators and to take full advantage of the tax laws. Is it all worth it? It is for me! Only you can decide whether or not you are willing to spend several weeks or months learning a new skill in order to live a life of abundance and contribution that you may have never thought possible.