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A Plan to Make $4K Monthly on $20K with Dan Sheridan – Sheridan Options Mentoring

Investing can seem daunting, especially when aiming for significant returns on a relatively modest initial capital. However, Dan Sheridan of Sheridan Options Mentoring has developed a strategic plan to help traders achieve a consistent income of $4K monthly from a $20K investment. In this article, we explore this plan in detail, covering the key components, strategies, and steps to get started.

Who is Dan Sheridan?

Dan Sheridan is a seasoned options trader with over three decades of experience in the financial markets. As the founder of Sheridan Options Mentoring, he has dedicated his career to teaching traders how to succeed in options trading through practical strategies and personalized mentoring.

Overview of the Plan

Objective

The primary goal is to generate a consistent monthly income of $4,000 from an initial investment of $20,000 using options trading strategies.

Key Strategies

• Credit Spreads
• Iron Condors
• Butterfly Spreads
• Calendar Spreads

Risk Management

Implementing strict risk management techniques to protect the capital and minimize losses.

Detailed Breakdown of Strategies

1. Credit Spreads

What are Credit Spreads?

Credit spreads involve selling one option and buying another with a different strike price but the same expiration date. The goal is to collect the premium from the sold option while limiting risk.

Types of Credit Spreads

• Bull Put Spread: Selling a put option and buying a lower strike put option.
• Bear Call Spread: Selling a call option and buying a higher strike call option.

2. Iron Condors

What are Iron Condors?

Iron condors combine two credit spreads (a bull put spread and a bear call spread) to profit from low volatility and the passage of time.

Benefits of Iron Condors

• Limited Risk: Defined risk and reward.
• Profit from Time Decay: As options lose value over time, the strategy benefits from this decay.

3. Butterfly Spreads

What are Butterfly Spreads?

Butterfly spreads involve buying one option, selling two options at a different strike price, and buying another option at yet another strike price. This strategy is best used when expecting minimal movement in the underlying asset.

Types of Butterfly Spreads

• Long Butterfly Spread: Profits from low volatility.
• Broken Wing Butterfly Spread: Adjusted for higher potential profit and lower risk.

4. Calendar Spreads

What are Calendar Spreads?

Calendar spreads involve buying a longer-term option and selling a shorter-term option at the same strike price. This strategy profits from time decay and differences in volatility.

Advantages of Calendar Spreads

• Flexibility: Can be adjusted to suit various market conditions.
• Time Decay: Profits from the rapid decay of the shorter-term option.

Step-by-Step Plan to Achieve $4K Monthly

Step 1: Education and Preparation

• Enroll in Sheridan Options Mentoring: Gain access to Dan Sheridan’s comprehensive options trading courses and resources.
• Study the Strategies: Understand the intricacies of credit spreads, iron condors, butterfly spreads, and calendar spreads.

Step 2: Develop a Trading Plan

• Set Realistic Goals: Define your monthly income target and risk tolerance.
• Select Appropriate Strategies: Choose the strategies that align with your market outlook and trading style.
• Create a Trading Schedule: Plan when to enter and exit trades based on market conditions.

Step 3: Execute Trades

• Paper Trading: Start with simulated trading to practice without risking real money.
• Live Trading: Transition to live trading once confident, beginning with small positions to minimize risk.

Step 4: Monitor and Adjust

• Track Performance: Regularly review your trades and performance.
• Adjust Strategies: Make necessary adjustments to strategies based on market changes and personal experiences.

Step 5: Risk Management

• Set Stop-Loss Orders: Protect your capital by setting predefined loss limits.
• Diversify Trades: Spread your investment across different strategies to mitigate risk.

Tips for Success

Stay Educated

Continuously update your knowledge through courses, webinars, and market analysis.

Practice Discipline

Stick to your trading plan and avoid emotional decision-making.

Engage with the Community

Join trading forums and groups to share insights and learn from others.

Utilize Mentoring Resources

Take advantage of the personalized mentoring offered by Sheridan Options Mentoring to refine your strategies.

Review Regularly

Periodically review your trades and strategies to identify areas for improvement.

Conclusion

Achieving a consistent monthly income of $4,000 from a $20,000 investment is a realistic goal with the right approach and resources. Dan Sheridan’s plan, with its focus on strategic options trading and robust risk management, provides a clear path for traders to reach this objective. By following the outlined steps and leveraging the support from Sheridan Options Mentoring, you can enhance your trading skills and achieve financial success.

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