www.incomespreadtrader.com. I came across this site and wondered if you guys could check it out. I am a series 7 rep who has a basic understanding of options but I have no idea how to make money with them. Any help would be appreciated. I know if you know what you are do there is no need to subscribe to a service, I don't however.
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- Thread starter newbie24
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Quote from newbie24:
www.incomespreadtrader.com. I came across this site and wondered if you guys could check it out. I am a series 7 rep who has a basic understanding of options but I have no idea how to make money with them. Any help would be appreciated. I know if you know what you are do there is no need to subscribe to a service, I don't however.
If you're a spammer you picked the wrong site.
If not, think about;
1) 7 months and 32 winning trades in a row, and
2) using their 10% per month and 20K starting account you would be north of $6mil in 5 years.
Where can I sign up for only $49 per month?
There's ten minutes of my life I won't get back...
Quote from newbie24:
I am not a spammer, I am just looking for a website to point me in the right direction. I appreciate your response and was thinking the same thing. Are there any sites out there that are worth the time?
You might actually learn something from the site you mentioned. Just don't expect to get rich, and play small.
I would go to books first. This way you'll understand the lingo a little better. It would have saved me money, and time, if I had spent more time reading up front (I did, but obviously not enough).
First, try McMillian's "Options as a Strategic Investment".
Next, do Natenburg's "Option Volatility and Pricing".
Hint: If you're too lazy to read these two books you have NO business trading options.
Also, if www.optionplanet.com is coming near you try one of their free seminars.
I would advise staying away from the subscription sites and the $2k+ seminars.
Quote from newbie24:
thanks I will do, CBOE has a trading simulator as well. With a few years of learning and practicing, is 2-5% a month a realistic goal?
I think 2-3% ON AVERAGE is reasonable for a good, risk-minded trader. Can you hit it consistently, month to month? I'm sure there are those that do. I've hit the target, even exceeded it, but I'm not even an acquaintance yet of Mr. Consistently.
I once heard a fellow say your initial goal should be to stop losing money. The making money part will then come. With options I believe this especially true.
Good luck.