Got one set available for £30
Cashmaster PIE
- Thread starter daveyboy22
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2betafactor
Newbie
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Hi Hilly85 do you have any copies of PIE you are still willing to sell? ty
Please no one utilise PIE.
It is simply selling puts on the FTSE100 850pts below current price a month out using margin. The BIG secret is rolling if it gets near your strike price.
Works until it doesn't and you are wiped out like I was. Very dangerous in that its doesn't tell you much about what options actually are and what contract you are actually making when you sell a put. Especially as you'll be using margin to trade an index like the FTSE100. I bought PIE full price back in 2018 (hugely over priced for what you get). It worked great until the Covid correction, steady earner. Then the quick drop of Feb 2020... I lost it all and an eye watering amount amount of my starting capital. Margin calls and a broker that couldn't get me filled as the index was dropping too fast. At the time I was actually utilising a lot less of my buying power than the manuals suggest... I thought I was being "safe". What a laugh.
My advice would be to learn about options properly and then operate the wheel strategy on stocks you are willing to own in the first place. There are a huge amount of very good tutorials for free on Youtube on the wheel if you do your research. I'll never touch PIE again, not as the manuals tell you to anyway. The Covid correction was a 'mini' crash and it killed me using PIE, following it to the letter of the manuals. Just buying the FTSE100 would have seen your account back to full health and then some less than a year later. There WILL be another crash at some point. Just part of the game.
What I am doing now with the wheel... I wouldn't care if the market crashed. Id get the stocks I want at a discount and continue making income.
Stay well away from PIE unless you actually know what your are doing with options... in which case you wouldn't need PIE anyway.
It is simply selling puts on the FTSE100 850pts below current price a month out using margin. The BIG secret is rolling if it gets near your strike price.
Works until it doesn't and you are wiped out like I was. Very dangerous in that its doesn't tell you much about what options actually are and what contract you are actually making when you sell a put. Especially as you'll be using margin to trade an index like the FTSE100. I bought PIE full price back in 2018 (hugely over priced for what you get). It worked great until the Covid correction, steady earner. Then the quick drop of Feb 2020... I lost it all and an eye watering amount amount of my starting capital. Margin calls and a broker that couldn't get me filled as the index was dropping too fast. At the time I was actually utilising a lot less of my buying power than the manuals suggest... I thought I was being "safe". What a laugh.
My advice would be to learn about options properly and then operate the wheel strategy on stocks you are willing to own in the first place. There are a huge amount of very good tutorials for free on Youtube on the wheel if you do your research. I'll never touch PIE again, not as the manuals tell you to anyway. The Covid correction was a 'mini' crash and it killed me using PIE, following it to the letter of the manuals. Just buying the FTSE100 would have seen your account back to full health and then some less than a year later. There WILL be another crash at some point. Just part of the game.
What I am doing now with the wheel... I wouldn't care if the market crashed. Id get the stocks I want at a discount and continue making income.
Stay well away from PIE unless you actually know what your are doing with options... in which case you wouldn't need PIE anyway.
2betafactor
Newbie
- Messages
- 4
- Likes
- 1
Thank you for the detailed response! I really appreciate it. Do you have the manuals I would like to take a look. My email is [email protected] thank you again
