We’re Setting Up for Next Breakout!

If you're new to the New Money Club or have any questions about how to allocate positions or how to execute  trades, watch this video first.

Dear New Money Crew Trader,

So far, the Nasdaq is up over 26% this year. But stocks hit some selling resistance yesterday afternoon, dragging the Nasdaq and some tech stocks into the red.

It’s still earnings season and we have a good amount of headline risk, pandemic developments, new stimulus, etc. What that means is we’re going to see a fair share of false moves this month.

Volatility is still elevated, with the fear gauge for the S&P 500, known as the CBOE Market Volatility Index (VIX), holding at 25.

Right now, we’re holding:

  • Nordic Amer Tankers (NYSE: NAT) Oct. 16, 2020, $5 call (NAT201016C00005000).
  • China Mobile LTD (NYSE: CHL) Aug. 21, 2020, $40 call (CHL200821C00040000).
  • Box Inc. (NYSE: BOX) Aug. 21, 2020, $20 call (BOX200821C00020000).

Now we wait and let the market come to us. And I’ll be keeping you updated every step of the way.

Your Questions, Answered!

The mailbag is full, so let’s get to your most pressing questions

“I just joined the New Money Club, and I’m new to investing and looking forward to learning how to trade. I was told that I need a broker to trade. Do I really need to have a broker place the trades for me? ~ Robert E.”

Hi Robert!

Welcome to the club!

Yes, you will need to work with a broker. But not in the way that you may be thinking.

When I started working at the Chicago Mercantile Exchange (CME), you had to call your broker on the phone to place a trade. The broker would relay that order to a trader in the pit, who would then execute your trade at the price you wanted.

That process was known as open outcry. 

It’s good for us that technology has made trading easier, faster, and cheaper. Now you're able to use an online brokerage trading platform to place a trade by yourself.

Each of my trade ideas will give you everything you need to trade on your own. My goal is to help you get rich and learn a thing or two along the way.

In other words, I'm going to give you fish to eat, but you're also going to learn how to fish as well.

In each trade alert, I provide you with instructions on how to find the call option we’re playing. Once you've located the correct option, you can set your limit price (which I also specify) and execute the trade.

And you’re done! No phone calls to your broker required.

But if you’d rather speak to a broker or need help, you can call the trading desk of the brokerage you have your account with. And they can execute the trades on your behalf as well.  

The “Here’s What to Do” section at the bottom of each new trade email is very specific. These are the exact instructions a full-service broker needs to know to execute the trade on your behalf.

If you haven’t already, check out your free report called “Finding The Right Options Broker” located on your member page. This report provides you my insider tips on finding the best broker and getting the best commissions.

. . . 

I look forward to answering more questions next week. If you want yours answered, email it to questions@newmoneycrew.com.

Talk with you on Friday.

As always, you can track our portfolio here.

To your wealth, freedom and options!

Joshua Belanger
New Money Club