Gavin McMaster: Living Life As An Options Trader by Jayanthi Gopalakrishnan
You don’t have to be an aggressive trader to make it as an options trader, says this “master” of options trading. After learning as much as he could about trading options, Gavin McMaster decided to take the task into his own hands and start trading options. He didn’t spend a single day working at a trading desk for a financial firm, although the thought did cross his mind. McMaster even went on to get a master’s degree in applied finance and investment, but admits that didn’t help him learn anything about trading options. He now specializes in income trading using options, is very conservative in his style, and believes that patience in waiting for the best setups is the key to successful trading. He likes to focus on short volatility strategies. McMaster has written five books on options trading, available from Amazon. You can read more from him at his blog at OptionsTradingIQ.com. He resides in Melbourne, Australia with his family.
STOCKS & COMMODITIES Editor Jayanthi Gopalakrishnan communicated with Gavin McMaster via email in January 2017 to find out more about his options trading journey.
Gavin, tell us a little bit about yourself and how you got interested in the financial markets.
My earliest memory about the financial markets is from primary school—I think you call it elementary school in the US—and a fictional story my teacher told. It was about an investor who bought a stock that went from $1 to $999 and he was greedy and refused to sell. Sure enough, the stock fell back down to zero and this fictional investor was back to where he started ...