The "daily Call" From Option Alpha: Options Trading | Stock Options | Stock Trading | Trading Online

Hey everyone. This is Kirk here again from Option Alpha and welcome back to the daily call. Today, I want to go through the snowball strategy for increasing your wealth. Today’s question actually comes from one of our community members inside Facebook. They asked the following questions, so I’ll read it first and then we’ll talk through it together. They said, “How to generate the snowball effect?” They said, “If you have a $5,000 to $10,000 account size, what steps are required to increase the account on a consistent basis? Example: Do we reduce or kill debt? Do we reduce or kill monthly allocation of capital? Do we trade as much of the account as possible? Do we pick proper strategies, we don't withdraw money, try to collect extra money, etcetera? I’d like to trade every day, but the account size won't let me do it, specifically if I follow any of your recommendations to have between 40% and 50% in cash.” They said, “If you could help me with this topic, it would be great. Thanks.” First of all, I think the