Researching an underlying and forming an opinion, implementing one of the infinite strategies to capitalize on it can be learned from books or from others. For instance, early in Charles Cottle's book, he shows 10 different ways to create the exact same risk/profit profile for a long 45/50/55 butterfly. These implementation strategies reflect the personality of individual traders as much as personal preferences related to time, risk, ratio, liquidity, etc. To me, the day to day risk management of positions is what makes very successful traders different from average to losing traders and for that you need to go deeper and learn as much as you can... the greeks, portfolio managemnt, and the inherent relationships between financial instruments. You don't need to know all of this to be successful but why leave that on the table when you're talking about your own money.
For instance I had a home run month in July that significantly crushed my personal expectations, however, I'm more proud of how I traded in June. July's success was mostly due to a bullish earnings month and the leverage power of options but in June, I managed out of post-Brexit disaster positions by adding delta neutral hedges using country ETF, commodity, bond, and currency options I never used before, turning June into a decent profit even if the end of month saving reversion had not occurred.
Good luck. I love trading options. It's more flexible, scalable and dynamic than trading stocks. You can wait years for a 100% return on a stock, if you're lucky, but I had couple triple digit returns at the open just this week.
For instance I had a home run month in July that significantly crushed my personal expectations, however, I'm more proud of how I traded in June. July's success was mostly due to a bullish earnings month and the leverage power of options but in June, I managed out of post-Brexit disaster positions by adding delta neutral hedges using country ETF, commodity, bond, and currency options I never used before, turning June into a decent profit even if the end of month saving reversion had not occurred.
Good luck. I love trading options. It's more flexible, scalable and dynamic than trading stocks. You can wait years for a 100% return on a stock, if you're lucky, but I had couple triple digit returns at the open just this week.
