I suggest you check out tastytrade.com for free options education. Theotrade has a paid membership where options are discussed frequently. There is no easy path to options trading. You will invariably begin with iron condors or credit spreads, lose money, then start selling naked options, blow out your account, and then start the entire evil process over again. Peace on your journey!
I need help with trading options
- Thread starter ilovemoney01
- Start date
Welcome.
ilovemoney is usually the wrong reason to trade options. Your chance of success would increase if you love the challenge instead. You should love to solve the problems of how to win, like playing blackjack or poker.
If you love the challenge, buy a few books and read up on the what and how of options, then come back and ask the experts here some specific questions instead of a generic question.
You seem anxious and desperate. Relax.. Before you end up parting ways with your money..
I suggest you read Incerto(Fooled by Randomness, Black Swan, Antifragile, Skin in the Game) Nassim Taleb. Some of them are free online, I believe.
You can go google and understand options and how they work and expect it’ll take you a few weeks to get a bare minimum understanding. But that’s the almost irrelevant part. The relevant part is realizing the philosophy behind the methodologies of successful option traders. How they’ve survived for so long trading multidimensial, nonlinear securities (options).
I believe that if you’re wise, you’d heed this advice but having experienced the taste of your hasty attitude in your posts (at least that’s how I am interpreting them), you won’t. Perhaps I’m wrong.
I suggest you read Incerto(Fooled by Randomness, Black Swan, Antifragile, Skin in the Game) Nassim Taleb. Some of them are free online, I believe.
You can go google and understand options and how they work and expect it’ll take you a few weeks to get a bare minimum understanding. But that’s the almost irrelevant part. The relevant part is realizing the philosophy behind the methodologies of successful option traders. How they’ve survived for so long trading multidimensial, nonlinear securities (options).
I believe that if you’re wise, you’d heed this advice but having experienced the taste of your hasty attitude in your posts (at least that’s how I am interpreting them), you won’t. Perhaps I’m wrong.
Taleb generally has a contrarian view of everything. He'd disagree with you on the color of the sky. I think while his writing is good (in structure, I generally think even though he has a PhD his view on things as broad as the normal distribution are strange from a PhD). it's not useful to read for OP.
He's famous for being against options and has some sort of valid points related to black swans. He's also famous for promoting hedge funds over mutual funds and that's where it's clear he's not a trader, he's some kind of psuedo-trader philosopher. He contradicts himself with every other sentence.
If OP read anything Taleb had to say without any frame of reference in options he'd probably sell everything he owns and live in the mountains. Taleb would probably also disagree with that, saying that the fractional percent chance of a bear attack is enough to discredit the entire industry of outdoorsmanship.
Complete nonsense of a post. Respectfully, you're a fool.
Insults instead of information.
Reminds me of Fooled By Randomness where Taleb establishes himself as a prophetic trader-philosopher not through demonstration of skill but rather berating other people. His ego matches his followers. Some people need a leader, and you have certainly found yours.
Ping me when he actually posts his trading record. He's just a Jordan Peterson of trading - full of useful dad tips but vacuous in the action department.
If you understood risk management, you would've understood Taleb 100%. That is one of my heuristics. (I say this genuinely; Unfortunately, it is a lost cause explaining anything to you with your embarrassing (and false) assessment of Taleb). You're a fool in this regard.. (fool is defined as a person who acts unwisely, or imprudently; a silly person).
You seem to have taken personal offense by his work. Given your name, Gaussian, I can probably take a guess as to why...
And if you're capable, and I bet you are, of putting your emotions aside for a minute.. you and others, including myself, can learn some useful things; https://www.youtube.com/channel/UC8uY6yLP9BS4BUc9BSc0Jww
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Thanks for my morning chuckle.
Nothing serious except a fool and his money will soon be parted."I don't know anything about options, but I want to start trading as soon as possible."
What could possibly go wrong?
