lost beginner

D

Drmic

can anybody give me the simplest way to try and learn what it is to profitably use options markets ie easiest way to becoming a potential options broker for dummies?

(yes I read the previous thread about mentoring, but im wondering if there's something even simpler, not to loose 10k in 6months seminars)

thx:confused:
 
I'd really rec you don't trade options...if you want leverage...why not futures?

Sorry I can't be helpful with recs but I don't trade options.
 
Quote from Drmic:

can anybody give me the simplest way to try and learn what it is to profitably use options markets ie easiest way to becoming a potential options broker for dummies?
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The best way to learn about options is to track down some beginner's reading material on the intertubes, and read it. Understand what you can from it.

Then, paper trade. See how options behave when the stock moves, and as time progresses toward expiration. When something happens that you don't understand (like yesterday - stocks went up, calls went down), ask a specific question on this board and learn from the answer.

Then, when you're nice and ready, start trading small lots. One contract or two. Get a feel for it. Keep asking questions, and keep reading more advanced material as you are ready to understand it. You will lose money on some trades, and it's important to learn from those. At least with one contract at a time, your tuition will be cheap.

Every journey begins with a single step.
 
Learning about options is a good exercise but don't expect to make any real money from it.

Do you want to be an option broker? If so, why? :D

I have said it before and I'll say it again. For options "Options as a strategic investment" $35 is better than any "seminar" you will ever attend.

There are NO easy ways to do this.

The above comments are good advice. I just like to post about how wasteful seminars are. :cool:
 
Have to agree with commie and insane here. "options as a strategic investment" is about the best but its not an easy read by any means. the flip side is there is a good reason its been around for over 20 years and is kept current... its simply one of the best.
 
Start free here:
http://www.numa.com/derivs/ref/os-guide/os-0.htm


then the books
"Options as a Stratigic Investment" next

"LEAPS" by the late Harrison Roth next

"Trading Options to Win" by Johnston next

"Option Volatility and Pricing" by Natenberg next



You should be able to get most of the important basics down from these.

Peace and gtty,

Lar
 
Cottle's books rock.
The free and low cost seminars by TOS/OptionPlanet are good for beginner to intermediate info.
But of course even after all the reading and listening, you still need to attend the school of trading by actually trading and likely losing some money. Just keep on learning from your mistakes (and there are an unlimited number that can be made), and you'll get there.
 
Quote from ajna:

Cottle's books rock.
The free and low cost seminars by TOS/OptionPlanet are good for beginner to intermediate info.
But of course even after all the reading and listening, you still need to attend the school of trading by actually trading and likely losing some money. Just keep on learning from your mistakes (and there are an unlimited number that can be made), and you'll get there.
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I've been trying to get a copy of Cottle's "Options: Perception and Deception Position Dissection, Risk Analysis, and Defensive Trading Strategies (Hardcover, 1996)" for a couple of months now.

It is out of print.

Ajna, do you have a copy you want to sell?

Thanks,

Lar
 
I think very few newbies have any luck in options. imo, only v experienced traders can consistently make profits in options. best to try good old stocks...
 
Quote from lar:

I've been trying to get a copy of Cottle's "Options: Perception and Deception Position Dissection, Risk Analysis, and Defensive Trading Strategies (Hardcover, 1996)" for a couple of months now.

It is out of print.

Ajna, do you have a copy you want to sell?

Thanks,

Lar
More...

His newest book The Hidden Reality brings back all the information from his first two books and adds some more. You can get the new one and get all the important info plus recent additions.
 
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