Mr Money Maxwell
Financial Freedom Friday is for people serious about financial freedom. Every Friday I share what 28+ years of trading taught me. My mistakes. My systems. The lessons that got me out of Corp IT by 40. Learn from someone already doing it.
How I spend less time in front of the screen, but grow my portfolio
Financial Freedom Friday TURNING KNOWLEDGE INTO WEALTH BY $MAXWELL I used to be a day trader. And I was pretty good at it. Good enough to make real money. Good enough to think I had it figured out. Good enough to keep coming back even when my brain was telling me to stop. Here's what nobody tells you about day trading. The money can be great. Until it isn't. You win 10 in a row and you feel like a genius. Then you lose the next 15 and you can't figure out what changed. Same charts. Same...
Financial freedom isn't about finances?
Financial Freedom Friday TURNING KNOWLEDGE INTO WEALTH BY $MAXWELL The goal of financial freedom should be about finances. Right? I want to challenge that today. Most people treat life like a giant list of transactions, but there is a side to this journey called life that a spreadsheet simply cannot capture. In the trading world, we talk about Extrinsic Value. You know the "Time Value" the part of the option that isn't the actual stock price. In life, your Extrinsic side is the math and the...
He values businesses for a living. He came to my backyard for a reason.
Financial Freedom Friday TURNING KNOWLEDGE INTO WEALTH BY $MAXWELL There I was in my backyard, sitting under my pergola in the Florida sun, it was pretty hot out. I was staring at the lake while a business broker set up microphones on my patio furniture. A business broker wants to interview me for his podcast called Personal Bets? When was the last time you made a real bet on yourself? I'm talking about a real one. Not a savings account. Not buying a call on some stock that is about to...
How much do you make an hour?
Financial Freedom Friday TURNING KNOWLEDGE INTO WEALTH BY $MAXWELL No way you'd take a job without knowing how much it pays you an hour. Most people trade time for money, I want you to start thinking how much does this hour pay me! Almost every worker knows their hourly rate. You knew it before you accepted the job. You probably roughly knew it before you even interviewed. Financial freedom comes when you replace your paycheck with passive income. So... Do you look at every position you have...
Remember that scary "correction" five weeks ago?
Financial Freedom Friday TURNING KNOWLEDGE INTO WEALTH BY $MAXWELL Much like the weather in Florida... The market went from a hurricane to a sunny beach day in less than 10 trading days!On March 31st I dropped this in Good Kids Trading discord: Well. Here we are... How are you feeling?I didn't expect us to make new all time highs in 13 trading days... BUT that's the whole point. No one really knows what's going to happen: no matter how smart or how confident they sound. The market threw every...
Same market. Completely different week?
Financial Freedom Friday TURNING KNOWLEDGE INTO WEALTH BY $MAXWELL I know the last month has been rough for a lot of traders. Checking the account every 10 minutes, stress eating, reading every headline trying to figure out if this is the bottom or just a dead cat bounce, snapping at people, losing sleep. Wondering if they should sell everything, buy more, or just do nothing and hope for the best. That's not trading. That's suffering. I used to be there too. And here's the part that stings......
I'll be fishing when this hits your inbox
Financial Freedom Friday TURNING KNOWLEDGE INTO WEALTH BY $MAXWELL Happy Good Friday weekend, market is closed so I'm enjoying a 3 day weekend. A quick glimpse into my view: Nobody knows if this is a dead cat bounce or the beginning of a new bull run. and anyone who tells you they know with confidence... I'd be careful listening to them Here's what I DO know. You don't have to know what's going to happen or even be right to make money in the stock market In the community this week we saw...
I was at a liquor store on a Tuesday night.
Financial Freedom Friday TURNING KNOWLEDGE INTO WEALTH BY $MAXWELL I went to a local stock options meetup this week! At a liquor store. But we we're drinking, we were in the conference room... See: After the week we've had in the markets... The venue was pretty fitting. What a wild week. Headlines moving markets 2-3% in either direction depending on what Trump posted that morning. What Iran says. All eyes on oil. Ceasefire. No ceasefire. Rinse and repeat. When markets get like this I do one...
Being wrong isn't the problem.. But you know what is?
Financial Freedom Friday TURNING KNOWLEDGE INTO WEALTH BY $MAXWELL Everyone thinks they are different but everyone is the same. I'm talking about trading in this email, but it applies to way more... You have a plan. You set it up when you were calm and clear. You knew your level, you knew the math, you knew exactly what you were going to do. And then the moment comes and you freeze. Emotions and 'what if's' get in the way of the best laid plans... When it's time to buy (or sell puts) it's not...
March expiration is next week. Are you ready?
Financial Freedom Friday TURNING KNOWLEDGE INTO WEALTH BY $MAXWELL It's been a crazy week for me. Not just the Iran headlines which spiked oil futures and spooked the market. Remember friends as options sellers, we need fear and pullbacks, don't be afraid look forward to opportunities! More about this after a quick aside...My real estate agent called to tell me my house is "unique." Six acres, middle of the woods. There's a pond. There's also some typical Alabama things like a 1986 single...
Financial Freedom Friday is for people serious about financial freedom. Every Friday I share what 28+ years of trading taught me. My mistakes. My systems. The lessons that got me out of Corp IT by 40. Learn from someone already doing it.