Opinions Requested · The Nexus

Opinions Requested

Hey I've got some stuff on my mind I want to put it down here if anyone feels like commenting that would be great. So I am a complete Noob when it comes to the market in general and of course with the methods in this membership.

I'm coming at this from the perspective of an almost 48 year old father of 3 with my oldest being 11 years old. My goal is to use the money that I have coming in to remain a ‘pile’ and earn income from it. Hopefully using the least amount of time so I can have time with my family. “They’re only little ONCE” is a phrase I think about every day.

So if I understand everything properly, picking a good stock and selling cash covered puts and then if you get assigned, then selling covered calls and then go on that ‘wheel’ to earn contract premiums for income. This seems to be what I should focus on first.

Then the more advanced strategy which I want to learn over time is the credit and debit spreads which are more involved in placing at the right time on the right stock based on their movement and Ross's indicator. I'm definitely interested in that but it seems that might take me a little longer to learn and feel comfortable.

So looking at this from the angle of my situation… am I off base by saying that it's essentially ”okay” to mostly just sell cash covered puts and sell covered calls for contract premiums and get to the credit and debit spreads down the road a bit?

I want to make sure my general thinking and direction even make sense so I don't make too many mistakes from the start. If I have to change my mindset and direction, that's fine too. Anyway thanks for reading if you feel like commenting I would love to hear it.

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