Looking for a good mentor for option trading...

[Maverickz]

If you are interested here is a decent article on market timing based on supply and demand (support/resistance).

http://www.trade2win.com/knowledge/articles/general_articles/cross-the-bridge/page1

 

[annieebee]

has options trading a higher success rate than
intra day trading? is one more riskier than the other?

 

[wayneL]

Quote from pengw:

Check out the Options Lab at http://optionslab.appspot.com it will help you analyze your options strategy and positions.

pengw,

Can optionslab do more than 4 legs?

 

[pengw]

The Options Lab does not support a strategy with more than 4 legs because we found a position with more than four legs hard to enter and exit. However, it supports a position that has four legs and underlying position combined.

Thanks,

 

[wayneL]

Quote from pengw:

The Options Lab does not support a strategy with more than 4 legs because we found a position with more than four legs hard to enter and exit. However, it supports a position that has four legs and underlying position combined.

Thanks,

Understood,

But I find the provision of additional legs useful for modelling adjustments.

 

[dagnyt]

Quote from pengw:

The Options Lab does not support a strategy with more than 4 legs because we found a position with more than four legs hard to enter and exit. However, it supports a position that has four legs and underlying position combined.

Thanks,

I often have positons on top of other positions and manage entire portfolio, not just individual speads.

Thus, it may be difficult to enter a many-legged position, but it's easy to own them. Would like to manage whole portfolio and not just a single trade.

Mark

 

[TraderZones]

Quote from annieebee:

has options trading a higher success rate than
intra day trading? is one more riskier than the other?

No. No. it is the trader, wielding it as a blunt instrument that matters

 

[TraderZones]

Quote from wayneL:

pengw,

Can optionslab do more than 4 legs?

 

[pengw]

The Options Lab does not support a strategy with more than 4 legs because we found a position with more than four legs hard to enter and exit. However, it supports a position that has four legs and underlying position combined.

 

[pengw]

Mark,

Sounds like what you need is more like a portflio tracking tool. I am sure many tools will help you do that. Our team have been thinking of letting Options Lab support unlimited number of legs, but that requires some sacrifices of space and easiness of use,
which will also make charting a little messy.

Thanks