Again, tc5, your kind and helpful thoughts have prompted me to post the following information so that you, and other members of this thread, are fully aware of what it is I am trying to accomoplish as an Options trader.
1. I am very serious about Option trading for consistent profits.
2. I have been fortunate enough to meet a veteran Options trader whom was introduced to me when attending a seminar given by my brokerage firm.
3. This veteran Options trader agreed to teach me what I need to know in order to trade Options for consistent profits. His fee is $5K up front, with 10% commission on my profits for 1.5 years upon completion of training.
4. My first training programme is to interact with Option Market participants so that I become aware of the psychological issues that Option traders have to overcome.
5. I was instructed to join a Trading Forum of my choice and then start asking what ever questions I think may be relative to becoming a successful Options trader.
6. My instructor will then guide me and pinpoint all the rights and wrongs in relation to trading Options for consistent profits.
7. He has already informed me that the majority of Options traders loose money in the markets and the reasons vary, but that will become apparent to me as I progress.
As some of my replies may seem to contradict myself, this is because my instructor has pointed me in the right direction following a reading of the posts and my questions. I have asked him why I must do this, as many will now say why donât you just go off and learn with your veteran Options Trader and stop asking questions here, but as he has repeated to me, and stressed this many times when I keep asking, the reason why most Option Traders fail to make consistent profits in the markets is because they do not have the adequate knowledge or experience to do so. It is only by conversing with others that claim to have the relevant knowledge and experience, that he will be able to show me the differences between successful Options Strategies, and mediocre Option Strategies that will never yield consistent profits in the markets. His famous quote is,
âA good General will always survey the battlefield prior to launching an attackâ
He also says the following.
"It is important / imperative to first learn how others think and why they think / believe the way they do. In Options trading only a few survive and your aim is to learn how to survive before you are sent into the battle fields."
Apologies if this has offended anyone, but as I have said many times over, I am very serious about my trading and some of us newbieâs do take Option trading very seriously indeed. I will continue to post as I see fit, and whoever want to join in the discussions are very welcome to do so, and those who do not want to partake are free to do as they wish. I must stress, however, that I may be told to pull back at times in case I divulge any information in relation to my instructor or his trading methods, but as of now, he has no problem in me continuing and posting whatever I think is relative to me becoming a consistent profitable Options trader. Cheers.
Derivman
