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Saturday, March 2, 2024

EP 002: Kirk Du Plessis of @OptionAlpha tells us how to gain an edge when trading options

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Aaron Fifield Podcast 5 Comments

In today’s episode of Chat With Traders, I interview options authority – Kirk Du Plesiss from OptionAlpha.

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Kirk takes us through his far-from-profitable first week as a retail trader, which he describes as something like a ‘wild cowboy’. But needless to say, he is now at the other end of the spectrum and having huge success as an options trader.

Throughout the interview we discuss this journey in great detail, plus much more. But not to give to much away… Just know this is a jam packed episode with Kirk sharing plenty of great insights on how you can gain an edge with your trading. This is certainly an interview you should not skip past.

“The key is to be persistent and consistent.”

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Lessons learnt in this interview:

  • Making a lot of smaller trades can often be a strategy more effective than being aggressive in one trade. As Kirk says ‘trade like a casino, and understand your probabilities’.
  • Kirk discusses the results of a Tasty Trades case study about two traders with equal accounts, but different rules for position sizing.
  • The benefits of trading options and using leverage, over other types of products.
  • How to avoid getting overwhelmed when learning options. There is a lot to learn, but Kirk breaks down a simple method for building up your knowledge.
  • Why you have to be ‘persistent & consistent’ to succeed.
  • And much, much more…

Links and resources mentioned:

  • Think Or Swim – This trading platform is the one resource Kirk could not live without today.
  • Recommended reading – Reminiscences of a Stock Operator by Edwin Lefèvre. A fictionalized biography of Jesse Livermore, one of the greatest speculators of all time, and the one book Kirk suggests every trader should read, available on Amazon.
  • Kirk is sharing 4x 30 minute videos that go through his process and framework for trading options. These are well worth a watch, and are not published anywhere else, so head over to optionalpha.com/chatwithtraders where you can start watching right away.
  • You can also stay in the loop with Kirk on Twitter @optionalpha.

Did you enjoy this interview?

  • Please leave a 5 star review on iTunes to support the show.
  • Subscribe to receive a free guide and an email when new interviews go live.
  • Post a comment below, what was your greatest takeaway from this interview?
  • Share this interview with your friends and followers.

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