My dad has told me about the gas shortages back in the 70's and 80's and people were running out of gas at all the stations. Prices were rising 50-60 cents a day. All the gas was getting allocated and that caused massive lines at all the pumps. It also caused a lot of stores to go out of business. He built his business up by himself with a couple cstores in Houston and then when the shortages hit he was able to buy up some closed down stores, which allowed him to use their allocation and put fuel into his best stores. Moral of the story, he was was able to take advantage of whatever cards he was dealt. Everyone else was too scared to even play. Now is a time to be positive and take advantage of the things that only us are ready for. I think its about to get a lot worse though
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A lot of money to be made in options right now
Get yourself a paper trading account (fake money) and start watching YouTube tutorials.
Options are derivatives contracts that make (and lose) money when the stock rises or falls.
It is based on volatility and is highly leveraged because you control 100 shares of stock.
You can also sell options to collect premium off time decay.
I highly recommend paper trading and not actually trading for a long time. In a recession, options can make a lot of money because prices are very volatile.
I am lucky enough to have failed on about a year’s worth of options trades, so I am pretty cautious and have developed some lower risk strategies.
Many people get lucky and make a ton of money immediately, then develop very poor habits and blow up their accounts later.
Lmao. That system. It's finished
TD Ameritrade has a platform called ThinkOrSwim, which has a Paper Trading/Simulation option… it’s a great way to practice and learn.