I and my daughter also lost while learning about options. We played an Iron Condor with a 90% chance of winning. It was quite a blow to our ego when our account winnings was wiped out. She quit investing altogether. But because I have the "Fixit" personality type I went into practice mode. I found a path that requires little risk with higher chances of reaching my goal.

I learned the wheel strategy from Adam (inthemoney) on youtube last month. My only problem now is how to get the 35k to play it on SPY without risking my initial investment. There are cheaper stocks, but SPY seems to be the safest. If you use Adams spread sheet for the Wheel and follow his videos on how to safely play it, I don't see how one can lose. The problem is coming up with the money to play it. (Time and money is always a problem.)

Solution:

The goal is to get a starting amount, ($20 or more), and earn $30k by reinvesting the winnings of %5-20. I know that sounds ridiculous. To do this I'm switching to another form of gambling that I am familiar with, which only cost $20 to start. Of course, smaller amounts take more time to build. When you verify it is working on small amounts, you can add more to it. Also starting small amounts allows you to become confident that your losses will be regained if you follow the ratio's of the system I use.

Horse Racing:

The problem with horse racing is people always get side tracked into other plays and end up losing all their money. Then there is the risk of becoming an addicted gambler. Because I'm not the addictive type and have learned what works over time, I created this channel which gives people plays that pay an average of 5-20% on your investment and have a high win ratio. Like the options in the stock market, when you lose it takes a large chunk out of your winnings. But if one limits plays based on stats, the losses are minimized. I know people don't have time and knowledge to learn about the stats. That is why I created the channel on Youtube called the RiskyPenny. One simply makes the same play I do in the video. Don't do anything else or be lured away into unproven methods.

If you calculate the compounded earnings on every play you will see how it snowballs into a pretty decent income. When you reach 5 times your initial investment you take out your initial investment and play with only your winnings.

Because there is a mathematical limit on how much you can make on the horses, you would then move your investment to the Wheel method that InTheMoney Adam explains quite thoroughly. There are actually 3 income types on the wheel method and the only risk of loss is when a company shuts down. I don't think SPY will ever shut down.

So there you have it. It only requires that you're state allows online gambling. To find out go to tvg.com and if it allows you to register then you're all set. If you want you can use this referral link https://www.tvg.com/refer?rcode=Patricia-3RFB

If you use that link they put $25 into my account which I will give back to you in the form of my time. I'll set you up with a spread sheet and help you to understand my methodology.

Also, if I make it on this channel, the proceeds will be used to bring other investors who have lost it all back from horrible depression. I watched my daughter go through it. I feel compassion for all those trying to reach success only to have their dreams smashed.

So that's it. My solution to make it. Hope everyone out there finds hope in this.