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The charts will tell you, on
a high probability, there's nothing. There's

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nothing certain because things change right.
You could have a really good news today

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and bad news tomorrow. But the
charts will tell you you'll be able to

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start to see. Okay, this
is some signs that things are starting to

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reverse, and I jump in long
before the big pop move happens. You're

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00:00:20,440 --> 00:00:25,800
listening to Carrie Letz's Financial Survival Network, where you get valuable information you just

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00:00:25,920 --> 00:00:31,600
can't find anywhere else to thrive in
today's trying times. You need the Financial

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00:00:31,679 --> 00:00:37,399
Survival Network now more than ever.
Go to Financial Survival and Network dot com

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00:00:37,439 --> 00:00:44,079
and get your free newsletter in gift
Financial Survival Network now more than ever.

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00:00:47,600 --> 00:00:52,079
Welcome you are listening to watching the
Financial Survival Network. I'm your host,

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00:00:52,119 --> 00:00:57,240
Carrie lets Well, you're gonna get
some trading advice today from somebody who lost

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everything five times but now makes two
to four hundred percent per year. His

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name is Tony Pollack. Tony great
to have you on, and I should

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also mention that the site where you
find Tony at and the link will be

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in the show notes Real Life Trading
a dot com. If you got a

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question, comment you can email me
kl at Kerry Lutz dot com, whether

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about trading or anything else economic or
any other questions you might have on your

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mind. Tony. It's great to
have you on. So a normal person

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would have quit probably after the first
time they went bust, the first or

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second time. Certainly very few people
would have hold out doing that five times.

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How did you keep going in the
midst of all that defeat? Oh

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man, Yeah, that's I figured
out I was not normal. That's what

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I learned from that experience, for
sure. Thanks so much for having me

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on. By the way, you
know, I just I felt like I

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was being called to trade, and
that's one of the reasons why I didn't

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give up. But I really didn't
have Like I got rid of every other

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avenue, like this was my only
path there were There was no backup plan

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to really fall back too. So
I had to make it work. And

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I think that's what kind of stuck
me, kept me in the game long

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enough to finally find some success.
But look, if you could make it

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trading, there's probably half a dozen
a dozen other ways you could have made

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it. Something about trading really made
you keep going, correct. I ran

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a family business for quite a few
years before that, and I managed a

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lot of employees, and I love
the fact of trading that I could do

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it anywhere. It was just me, grag it was just I only relied

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on myself, and there was a
few things that just kind of gravitated me

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towards trading. So that's why I
chose this career, and that's why I

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was so passionate to stick through it. Plus I love the markets all right,

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I love them too, have ever
since I was a little kid.

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But hey, in this day of
AI, I mean we even have an

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AI bought taking notes on this interview
now for our show notes. Can the

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individual really compete against the bots?
Yes, because you don't have to compete

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against them, you can join them. And there are you know, there's

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two teams in trading. Everyone says
the game is rigged, and it is

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rigged. But but here's the catch. You can choose what team you can

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you want to be on. You
can choose the winning team or the losing

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team. And that's what people don't
realize. AI all it's designed to do

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institutional traders. All the big money
is designed to play on people's emotions.

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If you get a million people in
a room. It's really hard to predict

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what they're gonna do. If you
can get all million people to feel the

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same emotion, it's very likely they're
going to do the same thing. Right,

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If smoke starts to fill the fill
the auditorium and then fire them goes

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off, odds are you can get
a whole lot of people to do the

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same thing. And that's all the
game really is. The thing is people

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don't even realize there is a game. They're showing up and they're immediately being

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part of the big crowd, and
the big crowd is always going to lose,

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and so they're playing on your emotions
now, and you're just going to

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struggle to survive. And so again, if you compete against it, you

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are in the ninety percent that's going
to fall. Instead, you can join

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the winning team and start thinking about
the markets differently and start thinking, all,

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right, what are the majority of
people doing right now? Well,

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the markets you're screaming up, they're
all going to buy. They're all have

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that confirmation. This feels easy.
People love to buy when it's already going

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up because it makes them believe it's
going to continue to do that. In

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reality, that's where all the big
money's taking their profits, they're selling it

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to everyone else knowing it's getting ready
to pull back. And so just little

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things like that, of knowledge of
that's what I do. I teach people

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how to be different. I went
through the whole gauntlets, so they don't

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have to, right, And so
I average a few thousand hours a year

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just showing people like, hey,
don't think this way, you need to

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start viewing it this way. Just
little tweaks that really make a big difference.

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And finally being successful in the markets. All right. So one of

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my fa favorite little memes is live
life as if it's rigged in your favor.

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So certainly this would be one day
one way of going about that.

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What do you you know? What
do you buy? How do you know

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what to buy? And how do
you know when to sell? Vice versa

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sell and then buy? Yeah,
price action. The charts will tell you

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on a high probability, there's nothing. There's nothing certain because things change,

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right. You could have really good
news today and bad news tomorrow. But

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the charts will tell you you'll be
able to start to see, okay,

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this is some signs that things are
starting to reverse. And I jump in

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long before the big bump move happens
based on certain sentiments that I'm looking for

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in certain tools and things that I
use. But I'm a big price action

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trader, so the charts tell me, first off, where I'm wrong.

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I'll look at this and go,
this is a level the bulls have to

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hold. So as long as they
hold that level, I'll stay in the

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trade, and that allows me to
control my risk and to lose small.

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It's just a game of math.
Right, you were flipping a coin on

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heads. You get a thousand dollars
on tells, you pay me three hundred

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bucks. You can flip it as
many times as you want. The math

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works because when you're right, you're
making way more than the opposite of the

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coin when you're wrong. So I'm
setting my risk where if I am wrong

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again, it's a probability. I'm
putting high probabilities that it'll go up.

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But I know exactly where I'm wrong
based on the charts. And so if

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the charts telling me, hey it
gets below this, I'm wrong, I

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cut my losses. Everyone else,
the crowd, the ninety percent, they

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hope it turns around and they end
up turning a small loss into a big

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loss, and then when I'm right, I ride that thing out as far

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as I can. I make a
lot of money doing that. Everyone else

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they're up three hundred dollars like I
made that in ten minutes. I'm getting

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out. This is amazing. And
what they're doing is they're guarantee they lose

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big and they win small in the
math just keeps going against them. So

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they answer that question would be price
action. It'll show you when to get

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in. It'll tell you a really
good idea of where the majority of the

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algorithms and the big institutional traders will
start taking their profits, and I just

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try to follow them and what I'm
doing. Okay, So what's the market

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telling you? Know? What are
the shorts telling you? Oh man,

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great question. We're at a pretty
key spot right now. Four twenty level

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is very very crucial. We're at
the spot where either the bulls should step

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back in and push this thing back
up to an all time high. That's

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what I'm expecting at the moment.
If we start taking out certain levels and

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closing below that, that would tell
me the bulls didn't step in. So

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again, that's kind of how I
can get an early indication of if the

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bulls don't step in. All the
institutional traders are thinking the same thing.

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They're cutting their losses, they're getting
out, They're gonna start shorting, and

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that's what I'll be doing too.
So we're at that moment in the markets

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where over the next three weeks,
we're either going to decide if we're gonna

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really keep finding some bulls and keep
pushing all time highs, or if this

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party is already over with and we're
getting ready to retest last year's lost.

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It's sitting around on that verge and
I don't know. I just have a

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game plan for either scenario, and
I'll see which one plays out. Are

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you invested now or are you just
sitting back and waiting. I am invested,

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yep. So I do a lot
of option trading. So I bought

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a lot actually last week at my
key area when we got down to the

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four twenty area. And then I
personally, I buy a lot of insurance

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on the markets. I buy a
lot of put options on the market.

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And what that does is it gives
me that two or three month cushion to

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see, Okay, now I can
wait three or four weeks to see if

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we're going to bounce. If not, then my insurance will ensure that I

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lose very very small. And if
I'm right, then cool, I'm gonna

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lose small on the insurance compared to
what my overall position is going to win

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on the upside. Okay, So
like how much money you need to use

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your system? Yeah, really it's
I work with people that have a million

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dollars trading accounts, all of it
down to a thousand dollars. It's more

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of what percent returns are you're going
to get. So I shoot for and

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I average five to ten percent a
month on average. Some months or sixty

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percent some months are losing months,
but five to ten percent a month is

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what I try to get my students
too. So if you have a thousand

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dollars, you know you'll make five
to ten percent of that. If you

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have a million dollars, you make
five to ten percent of that. So

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it's really more of you can use
any number really you can throw in there.

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Technically you could have two hundred dollars
and do this, but of course

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the larger the number, the easier
is to trade. There are more options

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out there for you and more methods
for you to use to make money but

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also the return is a lot higher. So what's been your biggest success so

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far? Biggest trade, biggest trade? I would say last year. I

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ended up buying buying some puts at
the start of last year, and I

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tripled my trading account within the first
five months of last year. So that

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was one of my best trading years
so far. Of just again, the

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charts told me a key levels broke
the second week in January. I just

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waited for my entry, had my
setup, took it, and then rode

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that thing all the way down throughout
the year. Yeah. So buying options

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a little tricky, you know,
it's hard to know whether you're paying too

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large a premium or the premiums at
a discount. How do you value options?

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Yeah, so options really come down
to it. It's a whole other

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game inside of a game. Really. The quick question is, once everyone's

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seeing the same thing, it's too
late. I want to be buying options

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when no one's thinking about a bowl
move, right, when no one's thinking

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about a bear move, that's the
time to grab it. And again,

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it's all about reading price action.
They'll give you those clues and then you're

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either right or you're wrong. Off
of those clues. There's nothing guaranteed,

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so I just if I'm wrong.
I'm wrong all the time by the way,

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I take small losses, and when
I'm right, I went big.

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So when reading options, it's more
of figuring out is the move already happening?

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Right? Go back to a You
can look at the previous price of

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the option itself and you'll see it's
like, oh, okay, it was

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at a dollar two days ago.
Now it's at three dollars. So I

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could get in now because it could
go to six. But I have to

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00:11:07,039 --> 00:11:11,279
realize that people already bought this at
a dollar. They've already three x their

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money. You know, am I
late to the party? And so that's

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what I use a lot as The
key is I want to get in.

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I want to be buying insurance before
there's a hurricane type thing, right,

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and so then selling that to someone
else. And that's the game of options

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really. But it requires a knowledge
of how the markets work a little bit

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to be successful. Okay, so
interesting, interesting thing here These options though

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they don't always reflect the reality though
do the the price Sometimes price will go

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way up in the underlying security and
they lag in the options. You know,

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you can be right, but you
can be wrong. Right. If

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you don't understand how options work,
you'll set yourself up to fail. Really

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because if you buy this is the
easiest way to think about it. Few

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00:12:01,960 --> 00:12:09,399
analogies. If you if you buy
insurance, let's say for a hurricane,

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00:12:09,799 --> 00:12:13,360
but your insurance only applies if the
winds get above one hundred and eighty miles

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an hour or two hundred and fifty
miles an hour, and the hurricane comes

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00:12:16,159 --> 00:12:18,360
in at eighty mile an hour winds, your house still gets destroyed. You

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00:12:18,399 --> 00:12:22,279
add insurance, but it didn't cover
what you what actually the damage that happened.

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Right. We see that a lot
in like car insurance. Right,

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Like you didn't have insurance for a
tree dropping on top of your car.

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So it's the same thing. In
the markets. People buy options way too

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far out of the money, which
means not only do that to be correct,

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but the markets have to make an
abnormally large move in that direction for

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00:12:41,320 --> 00:12:45,039
them to even really be at break
even by expiration. So I teach my

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students, so you want to be
buying your options a lot closer and strike

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00:12:46,919 --> 00:12:50,440
so there's a higher probability, right, don't buy a hurricane insurance with a

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00:12:50,480 --> 00:12:54,039
wind cut off, just buy the
insurance for anything to cover you. So

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that's one of the best ways to
do it. But people mess up the

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most by they go the cheapest,
which means the option furthest out of the

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00:13:01,799 --> 00:13:05,720
money, and then when they're right
they're like, oh, the market's worked,

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00:13:05,519 --> 00:13:09,080
you know in my direction, they
still don't make any money because it

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00:13:09,120 --> 00:13:15,159
didn't go far enough. The second
kind of analogy is if you're in a

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baseball stadium and you know, outside
that stadium the hot dogs two dollars.

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00:13:18,919 --> 00:13:22,159
On the street vendor, it's two
bucks. You go inside the ballpark,

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it's eight dollars. If you're trying
to buy options to make money right before

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00:13:26,039 --> 00:13:31,080
earnings, there's a volatility that goes
in. There's a there's a higher premium

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00:13:31,080 --> 00:13:33,679
on price because they're expecting a large
move right before earnings. So that's like

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you going into the ballpark buying twenty
hot dogs for eight dollars, going on

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the street and trying to sell them
for twenty bucks. It's a really hard

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way to make a living because you're
paying too much for that option. From

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the get go, that option might
be worth two dollars normally, but because

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of earnings, it's seven. So
after earnings is over with, that option

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goes back to the normal market rice. So even if the markets made a

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big move in your direction, it
might only be worth five dollars, but

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you paid seven for us, you
still lose. So those are the two

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scenarios of that I commonly see people
why they lose money and options, it's

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more of a matter of understanding how
the game is played and how to apply

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the option at the right time you'll
be successful. So what options do you

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usually buy? Do you buy them
on the stocks or the indices? How's

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that work? Yeah, I'd buy
them on any stock that gives me.

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First things first, you've got to
diagnose the markets. Right. Options are

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just a tool to make money.
It's not the thing that actually is going

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to make you money. What's going
to make your money is diagnosing the problem.

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Are the markets about to go up? Are they about to go down?

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Or are they going to go sideways? Right? Once you have a

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diagnosis of the markets, that's what
I teach everyone to do. First things

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First, diagnose the markets. Learn
how to read price action. I teach

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it. He messages me, I'll
give you a bunch of free stuff to

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learn how to do that. Once
you know how to do that, then

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it's now a matter of Okay,
it's going to go down. I want

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to buy these options that make money
when it goes down, So I do

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it on any stock or any and
to see that I have a clear diagnosis

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of where I think this is going
to go. The majority pity of my

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money would come from selling options,
though, I would say that's the easiest

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way to be consistent, because ninety
percent of the people are going to lose

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that trade options. I'm the one
selling it to them, so I have

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a ninety percent win, right,
I win when everyone else loses. Type

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thing. In that sense, it
kind of sounds weird because that's not really

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how it plays out, because they
could sell it beforehand and everything else.

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It's just I'm taking advantage of I'm
buying that hurricane insurance when it's not season,

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and I'm selling it to someone that
didn't have it right before the season

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starts for a higher premium than what
I sold it. Four type thing.

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So that's how I'm making a good
chunk of my money is just by selling

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options. You're selling covered calls and
such. Sure, yeah, yeah,

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yeah, I'll do you covered calls. I do a lot of naked puts.

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My main go to his credit spreads
because it doesn't require a lot of

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capital. I have people to have
a couple thousand dollars in their account that

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make three hundred dollars a week just
on a couple of credit spread trades,

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because again, it doesn't require a
lot of margins from your broker, a

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lot of money from you. But
yeah, you can still take all the

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benefits of selling options with a really
high win. Right. Are you doing

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any energy options at all? I
have not. I have not really dabbled

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into that. I could. I
stick I do a lot of spy trading,

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so the ETF, and then I'll
do a lot of higher volatility stocks.

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The tech stocks are always fantastic,
always have been Tesla and a lot

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of those things. But I'll dabbling
things. I just haven't really gotten into

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dantage it too much. All Right, Well, I think you've given us

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a good a good background, and
we'll definitely have you on again to talk

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00:16:37,799 --> 00:16:42,039
more about it. In the meantime, how do you get started in trading

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00:16:42,039 --> 00:16:47,320
with you? Yeah, for your
listeners, I've actually created just a step

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00:16:47,320 --> 00:16:49,480
by step process of how to do
all these things I just talked about for

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00:16:49,519 --> 00:16:52,600
free. So if they want to
go to Real Life Trading dot com slash

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00:16:52,679 --> 00:16:56,960
Tony Pollock is where they can find
that step by step. You can also

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00:16:56,000 --> 00:17:00,679
go to Real Life Trading dot Com
to figure out some more education for free.

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00:17:00,639 --> 00:17:03,799
We're all about just giving back,
and that's all I want to do

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00:17:03,960 --> 00:17:07,400
is help people give back and learn
this and stop making the same mistakes that

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everyone always makes. Yeah, so
that's that's why I want to Now you

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00:17:11,839 --> 00:17:14,119
can find it all right, well, the link is in the show notes

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00:17:14,119 --> 00:17:18,359
to this interview on Financial Survival Network
dot com. Make sure you sign up

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00:17:18,359 --> 00:17:22,039
for your free newsletter. Questions,
comments, I'm always here for you.

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00:17:22,799 --> 00:17:30,359
The email addresses kl at carlets dot
com. Use the use the comments section

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00:17:30,400 --> 00:17:33,799
in the YouTube if you're watching it, there to give us some feedback on

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00:17:33,839 --> 00:17:38,279
what you think and how your experience
has worked on trading options. If you've

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00:17:38,319 --> 00:17:41,559
traded options, let us know,
and if you haven't, let us know

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00:17:41,640 --> 00:17:45,839
why not. Hey, Tony,
appreciate you coming on. We'll definitely have

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you on again. Be well and
my pleasure. Thank you, thanks for

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00:17:48,559 --> 00:17:56,240
listening to carry Lets's Financial Survival Network. Your solution to today's trying times for

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00:17:56,319 --> 00:18:03,519
the latest go to Financial survival Network
dot com Ential Survival Network now more than ever,