Trade Your Way to Wealth: Earn Big Profits with No-Risk, Low-Risk, and Measured-Risk Strategies
In Trade Your Way to Wealth Kraft explains a variety of strategies including buying and selling options; covered call writing; collars; using closed end mutual funds for income; debit spreads, volatility-based straddles; ratio backspreads; condors; and calendar spreads. Kraft emphasizes that traders need to first develop a sound and reasonable business plan ? in the same manner that any entrepreneur would plan a new business. Armed with the strategies explained in the book and a solid business plan, traders will have a blueprint for generating consistent profits in a relatively stress-free and efficient manner.
Author’s Introduction:
This book is designed to help anyone—from novice to experienced investor—improve their quality of life and generate increased wealth. It begins with the pros and cons of “buy and hold” investing, which, by the way, is not for everyone. From there, I show you, in step-by-step fashion, how to create your own personal business plan. Successful investors al-ways tell you to have a plan, but this book will show you what your plan should include and how to create it.
With this plan in place, I will then show you a variety of great money-making strategies from zero risk to pretty risky. Unlike so many other books, I try to show you where the risks exist and ways to deal with many of them so that you can invest in a comfort zone. I examine many strategies that explode the myth that option trading is always risky. The fact is that many times option trading has signifi-cantly less risk than buying a stock. You will learn how to make money when the market is going up, when the market is going down, and even when it is going sideways. I will even show you how to “insure” your stock positions.
Exchange-traded funds (ETFs) are becoming more and more popular, so we will see why they can be wonderful investment tools and explore when and how to use them to your greatest advantage. We will also see how they should be chosen, when positions should be entered, and what ETFs to avoid.
Since almost everyone needs income, I will show you ways in which to invest in low-risk, high-yield vehicles that you can trade like a stock. Many of the examples will actually be free of federal tax, and I will show you examples where the income can be double tax free—free of both federal and state taxes.
Contents:
- Millions Can Be Made with Safer Trades
- Is the Invest-and-Hold Strategy Best for You?
- Successful Trading Can Be Simple
- How Put Options Can Protect Your Money, and Also Make You Money
- How Call Options Can Really Make You Rich
- Combining Strategies for No-Risk and Low-Risk Trades
- Money Every Month: Earning Income
- Getting an Edge with Exchange-Traded Funds
- What You Need to Get Started
- Comparison of Strategies