I am about to layout my exact plan to quickly retire and achieve financial freedom using credit spreads. I am writing this as a historical record and something I can look back on later for myself. I also hope this helps other traders like yourself!
Where I Currently Am
My large account was just moved to TastyTrades in order to lower commission costs. The account is sitting at low six figures, and this is where I manage the trades I take for monthly income.
I am currently working as a business owner and trade analyst for The Impeccable Stock Software company and the newer options alert program, The Inner Circle Alerts. I also work as a contractor for wealth management funds who are looking to improve their marketing department.
I volunteer at my church as the small group leader for the high school boys. I also substitute teach at the local schools in my area because I enjoy staying active in and knowing my community.
Where I Want To Be
I want my trading income to make 3x what my business income makes. It is currently equivalent. This will provide me with more income and a margin of safety when losses occur in my trading.
I still want to help people through my trade alerts and education because I enjoy helping people and seeing them finally make money from the market. However, I will dial back my time by doing less outreach and marketing and solely focusing on my current members.
I want to have the ability to volunteer more, give more money to church and causes that are important to me and travel whenever and wherever I want to. Not that I am a big traveler or spender because I’m not, but I would like the ability to.
My Plan To Get There In 5 Years
The goal over the next 5 years is to grow my account size and refine my trading skills. I want to be able to execute trades with no emotion and fearlessly collect income weekly using my credit spreads strategy.
I will refine my trading performance by learning how to best execute on strategies, reading the market and adding strategies that help offset the losers of other strategies. If I grow my account by 3x and improve my average yearly performance, then I can easily hit my goals.
I will increase my account size through trading profits and adding money from business profits. I will also work on scaling my trading size by slowing adding more contracts over time. I currently do 40 contracts per spread position, and I am looking to get to 100 contracts. By scaling up slowly, I will be able to emotionally handle the losses and profits with a larger position size.
This article is not practically helpful like my other articles because it is more for my record. If you want practical tips and strategies to help you trade, please check out my other articles.
God Bless,
Austin Bouley
CEO & Chief Strategy Officer