The halls of Wall Street are full of carnival barkers. Boisterous brutes hollering sexy-sounding pitches to get you to try out their wares.

“Come, see! I’ve got just the strategy for you!”

“Here’s a cure-all for your investment ills!”

“Have a need? I can satisfy that!”

Odds are you ventured into the finance carnival with purpose. You thought you knew what you wanted. You thought the answer was simple. Then the distracting devils began peddling their wares and now you’ve no idea what to focus on. Everything sounds so attractive and you want to try it all. Swing trading seems a no-brainer. Why buy and hold when you can game the zigs and zags? Then again, the zigs and zags are notoriously difficult for some to time.

Speaking of time, why not focus on strategies that profit from it? Like covered calls and naked puts. Cozy on up to Father Time and he’ll make it rain dollar bills like a lottery winner in a strip club. Then again, sometimes your beloved covered call candidate plummets stealing all those greenbacks like a dirty thief. I could go on for days trumpeting the virtues of Every. Single. Strategy. And then I could sow confusion by divulging their vices.

Since they all boast advantages you can’t base your selection on which is the most attractive. They’re all attractive! I can even make buy and hold look like Scarlet Johansson if you really pressed me on it.

I feel for new students overwhelmed by the trading carnival. I talk to these wonderful rookie traders all the time. The beauty of mentorship is it allows us to sit down and really hash out your thoughts about all those carnival barkers. At first, listening to their pitches (the barkers, not the students) is a necessity. You have to try out different products and strategies to get the lay of the land, to familiarize yourself with the varying trading tactics. It’s a trial and error process traveled by many a successful trader before you. But, in the end, you simply have to find what works for you.

I just finished teaching an Options II course where we cover no less than a dozen strategies. During the last session, we had a little chat about my regret that I couldn’t broadcast to the class which was the best one. And I feel bad about that. I wish it was possible to tell you the exact strategy that is going to be your moneymaker.

But I can’t.

Sure, I can regale you with stories about each and every carnival barker. I know their wares inside and out. The characteristics of each are etched in my brain like commandments on a tablet. I can equip you with the best understanding possible of your options. Of that, I have no doubt.

But identifying which is your meal ticket, now that’s a discovery only you can make.

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