"The only thing I will take credit for is having an investing strategy that creates opportunity based on one of my success theories in life. That theory is: Success is very much a matter of being in the right place at the right time." – Phil
"The systems we use here were never meant to be a slot machine, it’s a new way of handling the markets so that you control your virtual portfolio and not vice versa." – Phil
The LTP strategy is the core of Phil’s approach. Though the minute-to-minute action through comments might lead you to think otherwise, the central elements of the LTP strategy are fundamental to any understanding of Phil’s approach:
- selecting comparatively underpriced long calls
- carefully selling short calls against those long calls
- managing the position by retiring or rolling to maintain or enhance your advantage
If you’ve signed up with PSW to learn to produce the kinds of returns Phil advertises, consistently in up, down, or sideways markets, this is the strategy you’re here to learn. The strategy is presented in three parts. This is part 1, Fundamentals:
- Fundamentals and Central Concepts
- The Premium Business
- Advanced Topics
The material is divided into sections to promote better learning and to keep the variations from confusing the basic description of the strategy. Once you internalize the central concepts the other sections are just icing on the cake. If the analogy to commercial real estate works for you, then you’ll enjoy the second section. The Advanced Study section is simply a place to collect some variations on the LTP.
