Kirk Du Plesiss from OptionAlpha is a retail trader, and describes his first week trading as something like a ‘wild cowboy’. Obviously, it’s not the case anymore and is hugely successful as an options trader.
Throughout the interview he talks about his trading in a lot of detail, plus a whole lot more. Not to give anything away, just understand that this episode is jam packed and Kirk share plenty of great advice on how traders can gain an edge with your trading.
What’s Covered in This Interview:
- How creatinging many smaller trades is usually a more effective strategy than being aggressive on a trade. Like Kirk says, “Trade like a casino, and understand your probabilities.”
- Kirk talks about the results of a Tasty Trades case study where two traders had the same accounts but had different rules for position sizing.
- Why it’s beneficial to trade options and use leverage over other kinds of products.
- How traders can avoid being overwhelmed when learning about options. Yes, there can be a lot to learn, but Kirk helps to break down an easy method to building up your knowledge.
- Why traders need to be consistent and persistent in order to succeed.
- And a whole lot more…
Links and Resources:
- Think Or Swim – Kirk cannot live without this trading platform.
- Reminiscences of a Stock Operator by Edwin Lefèvre – Kirk recommends this to traders, available on Amazon, which is a fictionalized biography of one of the greatest speculators of all time, Jesse Livermore.
- Go to optionalpha.com/chatwithtraders to watch four 30 minute videos where Kirk shares his framework and process for trading options.
- @optionalpha – Follow Kirk on Twitter.