Option trading for a newbie

Quote from MTE:

Looks like you are averaging down...

paul-tudor-jones-thumb.jpg
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Ben7;
Good news & bad news.

Good news first,OX has better option quotes than IB, mostly. So even if you do , or do not switch , IB says have 2 brokers.


Bad news is comissions & quotes are the least of your concerns;
see Paul Tudor Jones quote/warning .


:cool:
 
Quote from lolatency:

I'm an options n00b, but I don't understand your motivation for trading options. Cheap and easy leverage?

I hate options spreads and paying those huge spreads. I'm too scared to step in. I like modest-beta stocks with liquidity to help me escape if I am wrong.
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POT and AAPL options have tight spreads near the money, and are incredibly liquid. AAPL options for example have a spread of .05 and even tighter sometimes. I've day traded them often when they approach major support/resistance levels. The leverage makes for a quick return without tying up too much capital.
 
I read the thread's name and I got immediatly interested on asking here about a trading options platform. Can anybody recommend one?
 
Well I've got a platform from Tradeview Forex, and it's for trading vanilla options only. Core Options has happened great, and I also find it better for beginners.
 
I have been selling options for 2 years and it is precisely because of people like you that I am able to make a living.

Keep praying, one day it might :-)




Quote from Ben74:

I bought 5 more goog oct 390 calls at $0.60 just minutes ago. That's an additional ($314.95). The question is will goog rebound. time to pray.
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I learnt that gold coins spreads have lowered, does that have any effect on the gold Options field? Will gold Options spreads lower eventually?
 
Quote from murray t turtle:

=================

Ben7;
Good news & bad news.

Good news first,OX has better option quotes than IB, mostly. So even if you do , or do not switch , IB says have 2 brokers.


Bad news is comissions & quotes are the least of your concerns;
see Paul Tudor Jones quote/warning .


:cool:
More...

Thanks for the brokerage update, I know OptionsXpress does have a lot of useful tools. Their charts and scans are tops to me, just the pricey commission that used to be tops too, but is now beaten by others like IB, TOS, TK. And true averaging down is probably bad news, but we will see how that runs today.
 
Quote from couscous:

I read the thread's name and I got immediatly interested on asking here about a trading options platform. Can anybody recommend one?
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I have OX, and they have a great platform, with option pricing calculations, very good charts, quotes, and a decent streamer. Comm. rates are $14.95 ($12.95 for active users) min. and beyond 10 contracts its $1.50 per contract ($1.25 for active users).
 
Quote from Loki:

I have been selling options for 2 years and it is precisely because of people like you that I am able to make a living.

Keep praying, one day it might :-)
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So it must be people like you that I plan on making profits on then. Good luck to you, I think FDS and GS both move higher and pay me off.
 
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