I do not understand Options. Being the strategic currency trader that I am, many have told me perhaps that Options, would be where my aptitude could be applied.
I concentrate on money management in everything that I trade and money management is a big portion of my trading.
Sure you need an edge....but without money management you could be wasting a lot of time. The uses for money management seem to be most effective in the ranking of your trade probabilities trade by trade and assigning a money management value according to your quality of current set-up. Some "iffy" signals simply get less money to trade. Canned Kelly...FRM....percentage approaches simply do not work, no matter what your winrate is. You gotta' look at the set-up.
I have set up a TOS IRA account and subscribed to some advisories. I have two advisories through TOS's autotrade programs. Optionsmart ( I have subscribed for two years) and Crowder Investments (a new one).
I cannot post the trades as they happen as they are not my trades and I subscribe to get the signals.
But I will post my spreadsheet after the fact to show that there can be a way to trade options and add them to your diversification without having to understand them. This is how I take baby-steps to grow in Options trading. Hey if someone else can make the money in options for me...what do I care. I have my hand in the money mangement part....and that is trading too!
I hope this might be helpful to the many "have N.O.T.S." readers here. Do not be afraid to diversify and find a way
G.O.T. to ya' (Good Options Trading) to you...
Michael B.
I concentrate on money management in everything that I trade and money management is a big portion of my trading.
Sure you need an edge....but without money management you could be wasting a lot of time. The uses for money management seem to be most effective in the ranking of your trade probabilities trade by trade and assigning a money management value according to your quality of current set-up. Some "iffy" signals simply get less money to trade. Canned Kelly...FRM....percentage approaches simply do not work, no matter what your winrate is. You gotta' look at the set-up.
I have set up a TOS IRA account and subscribed to some advisories. I have two advisories through TOS's autotrade programs. Optionsmart ( I have subscribed for two years) and Crowder Investments (a new one).
I cannot post the trades as they happen as they are not my trades and I subscribe to get the signals.
But I will post my spreadsheet after the fact to show that there can be a way to trade options and add them to your diversification without having to understand them. This is how I take baby-steps to grow in Options trading. Hey if someone else can make the money in options for me...what do I care. I have my hand in the money mangement part....and that is trading too!
I hope this might be helpful to the many "have N.O.T.S." readers here. Do not be afraid to diversify and find a way
G.O.T. to ya' (Good Options Trading) to you...
Michael B.
