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Here is an alternative to a mentor. Listen to Dan's webinars on cboe.com several times. Also, his book is coming out this spring. Start small, $5k, one or two contracts, for at least six months. Learn one specific strategy, and learn it well. For example, become an expert on calendar...

Read an article that commodity traders are hot now. http://www.traderdaily.com/news/item/11471.html (may need to register to access) Get a good understanding of the energy market, for example. NG, crude, etc and I would suppose that this would set you apart from the crowd. Just an idea.

Got a Roth IRA. I have to wait, and then withdraw it tax-free.

I use one specific strategy which works well in low volatility markets. Well, the entire market goes into high volty a couple of months ago. So I'm smart. I don't use the strategy. Now I'm stupid. I use another strategy designed for high volty markets. After all, it's very popular...

You might want to look at calendars.

Professionals who have been around for a long time hedge their risk. Professional traders who do not hedge will eventually have their retirement plan managed by Burger King.

This is really a very tired argument. Let us suppose that a stock trader purchases puts to hedge his position. If the puts expire worthless (his long position is profitable), is he a "loser"? If I invest in fire insurance and my home does not burn down, did I "lose"? Finally, I write an...

I am looking for something to trade during the Asian session == Pretty much the majors against the yen and aussie. I really like the gbp/yen but the spread is pretty wide.

What you say is true, of course, but the calendar spread is typically ATM options which have the greatest demand from every trader who does options, regardless of his or her system. Even investors with primarily stock positions use atm options for a hedge. I don't think calendar spread...

It all comes down to how he "speaks" to you. Does his style of trading fit you. If you are a short term trader, forget it. You need to follow his strategy for weeks before you see a profit, and if that suits you, he's the man. Second, "once something is disseminated it's loses it's edge"...

Not sure I follow you. Of course there is no bottom to volty, but when it is low, it will "bleed" rather than fall off a cliff. It is equally likely to shoot up. In any case, calendars are all about theta, and I would rather bet on theta rather than a slowly decreasing volty.

Take the profit, and move on to the next trade. This is where traders start losing money due to greed.

When you include commissions, the RUT is more cost efficient if you are trading multiple contracts.

Look at the free webinars and materials on cboe.com

You are now learning one of the great mysteries of options. The market goes up, and call premiums are flat. The price stays flat and the option premiums move up, then back down, and back up again. The price of options move independently of the market price, as mentioned above. Supply...

The other day I was trying to liquidate my long one RUT sep 910 call. It was pretty worthless, but I put it out for 10 cents. What the heck, I thought. The order sat around for a couple of days, and suddenly it was gone! RUT was around 790. Guess someone had a sense of humor, or just...

Of course theta is a factor. Long options are wasting assets, losing money over time unless there is movement. So if the market sits still, or moves very slowly, the short option is the winner.

I agree. You need to develop your own style. Do you go for the speculative, "home run" style of trading (Jon Najarian)? Or the "slow but steady" income strategy (Dan Sheridan). You need to become familiar with both strategies before getting a mentor. Otherwise you'll just waste your...

It's a win for her. If no attack, helps dems. If they do attack, she can say "I told you so."

While it does not address your question directly, you might find the "Three Step" webinar interesting. http://www.cboe.com/LearnCenter/webcast/archive.aspx