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Trader’s profile – Juliah M, the winner of the Options Game

The last ASX Options Game has come to a close and the winner was Juliah who won with a profit of $130,558.54 or a 161.1% increase in initial investment. We asked Juliah a couple of questions about herself, and her approach to trading.
The last ASX Options Game has come to a close and the winner was Juliah who won with a profit of $130,558.54 or a 161.1% increase in initial investment. We asked Juliah a couple of questions about herself, and her approach to trading.   [RM] When did you start trading? What/who got you into it? [Juliah] I started trading not long after I finished high school. I was first compelled to trade after reading the book ‘Rich dad poor dad’ by Robert Kiyosaki while in high school and got  encouragement from my dad to open a trading account.  That moment in time is when I thought I’d give it a go.   [RM] Why did you start trading? What do you hope to achieve? [Juliah] I started trading as a challenge to myself to understand the financial concepts and jargon and with the intention of making it a secondary source of income. I also hope that trading can eventually be a steady source of income for me.   [RM] What are your trading goals? Is there anything you are focused on improving on?  [Juliah] One of my trading goals is to get better at the strategies that I use and to be able to implement and reap maximum profits from sophisticated strategies. I am focused on improving the strategies I use to be able to identify a good trade and to know when it is the right time to buy or sell.   [RM] How have you educated yourself?  [Juliah] I’m self educated. This includes reading financial review articles, listening to financial podcasts and using educational resources available from the ASX website.   [RM] Are there any books or courses you’ve completed that you would recommend?  [Juliah] I would recommend the ASX options course and reading ‘Rich Dad’s CASHFLOW Quadrant: Rich Dad’s Guide to Financial Freedom’ by Robert Kiyoski.   [RM] Did you find the Options Game a useful way to learn? In what ways?  [Juliah] Yes, I found the options game to be a very useful way of learning about options in the following ways:
  • it provided a hands-on approach where I could try out any strategies I learnt; and
  • the game provides you with virtual cash but you trade on real market prices – there is therefore nothing to lose allowing me to experiment on the most sophisticated strategies without risk of losing on actual capital, thus learning in the process.
  [RM] What advice would you give other traders or those considering starting?  [Juliah] Taking the first steps to start something new is often the hardest part. If you are considering starting trading, my advice is ‘Just Do It!’ Start with the game and make the most of it. It is the safest way to learn.   [RM] What’s your approach to picking direction and what sort of strategies do you use? [Juliah] I’m not an expert in picking direction but so far, my approach in picking direction has been to look at the past and present performance of a company and correlate with events happening in the news to get a prediction of the future trend. I tend to then use strategies that provide hedging in case my view is wrong.   [RM] What do you think the secret to success is?  [Juliah] I think the secret to success is to keep trying, keep learning and using your mistakes to improve your decision making.   [RM] What would you like trading to have done for you in 5 years’ time? [Juliah] I would like trading to be automated enough for me to make money in smart ways.   [RM] What do you think of the Implied Volatility trading platform? [Juliah] I find the Implied Volatility trading platform an empowering platform that has combined educational resources with a trading platform. Apart from providing a platform for simply trading, you are able to compare your return from different strategies and at the same time, you are able to gauge your risk appetite by viewing your likely losses or profit from a trade. This empowers you in making trade decisions.   We would like to thank Juliah for her participation. If you would like to try trading for yourself you can do so by taking a trial to our Implied Volatility platform here.     Past returns do not reflect future returns.  Trading options is not suitable for everyone. There is a risk that you can lose more than the value of a trade or its underlying assets. You should only trade if you are confident that you fully understand what you are doing. If you are thinking about acquiring a financial product, you should consult our Financial Services Guide (FSG) at www.reachmarkets.com.au first.   

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