which option advisory is best for new trader

It proves a whole a lot more than the claims without evidence written on option advisory services.

Look I am not here to win a pissing context or convince you to look at audited returns or teach you something. Go ahead and sign up for your favorite newsletter today !

Best wishes.

Why would you need audited returns? Most of these advisory services are posting their trades. All you have to do is follow the trade to know if it's profitable or not.

I understand the comments about risk/reward on these types of strategies, although as with every strategy, it's the number of times over the long haul that an event like this happens. But I don't agree that you can't control risk. You have the opportunity to get out of the trade at any time during the week up until the close of Friday. If you were in a monthly spread and the market turned against you the day before expiration, you'd be faced with the same problem. In the long term, it's what you keep that counts.
 
Why would you need audited returns? Most of these advisory services are posting their trades. All you have to do is follow the trade to know if it's profitable or not.

I understand the comments about risk/reward on these types of strategies, although as with every strategy, it's the number of times over the long haul that an event like this happens. But I don't agree that you can't control risk. You have the opportunity to get out of the trade at any time during the week up until the close of Friday. If you were in a monthly spread and the market turned against you the day before expiration, you'd be faced with the same problem. In the long term, it's what you keep that counts.

There is a HUGE difference between monthly and weekly trades. With weeklies, you start with strikes relatively close to the current price (otherwise you won't get any decent credit). Then if the markets gap, your trade is already deep in red. There is no way you can control the risk. With monthlies, the gamma is not that big, and you should never hold till expiration anyway to avoid the gamma risk.
 
This is the latest trade emailed to me from the myweeklyoptiontrades advisory service during my free 2-week trial. The first trade they sent me is detailed in post #19.


S&P500 currently at 1928.70

  • FROM: MYWEEKLYOPTIONTRADES.COM
  • Date: Monday, August 4, 2014
  • Time: 7:20 AM PST
  • Expiration: Friday, August 8, 2014
  • This Week's Trade Type: VERTICAL CALL
  • Order Type: LIMIT ORDER
  • SELL: AUGUST SPX 1970 CALL
  • BUY: AUGUST SPX 1975 CALL
  • CURRENT CREDIT: $.20 cents
  • Premium collected on 20 lots: $400 minus commission.
  • (20 contracts x .20 cents = $400)


2% OTM weekly SPX credit spreads appears to be their strategy.





:)
 
Their last disaster of a call isn't on their website yet:
http://www.myweeklyoptiontrades.com/2014spxtrades.html

This is the latest trade emailed to me from the myweeklyoptiontrades advisory service during my free 2-week trial. The first trade they sent me is detailed in post #19.


S&P500 currently at 1928.70

  • FROM: MYWEEKLYOPTIONTRADES.COM
  • Date: Monday, August 4, 2014
  • Time: 7:20 AM PST
  • Expiration: Friday, August 8, 2014
  • This Week's Trade Type: VERTICAL CALL
  • Order Type: LIMIT ORDER
  • SELL: AUGUST SPX 1970 CALL
  • BUY: AUGUST SPX 1975 CALL
  • CURRENT CREDIT: $.20 cents
  • Premium collected on 20 lots: $400 minus commission.
  • (20 contracts x .20 cents = $400)


2% OTM weekly SPX credit spreads appears to be their strategy.





:)
 
Since it's only August 4th, they need those monthly renewals to kick in first......

The crazy thing is I have seen services trade SIM and then talk like they make real money. "I made $3000.....". NO, YOU DIDN"T!!!! This is SIM, and they admit it is SIM....but for some reason talk in dollars.

email them and do a youtube video on how the loss is missing from the website.
 
Weekly options are good if you know how to manage your trade. The key is your capital managementent.
Involve only one third of your capital to sell the spread and preserve the rest in case you need to roll your position.
Open your trade en Tuesday/Wednesday, not before.
 
Weekly options are good if you know how to manage your trade. The key is your capital managementent.
Involve only one third of your capital to sell the spread and preserve the rest in case you need to roll your position.
Open your trade en Tuesday/Wednesday, not before.


Now I know why Argentina defaulted.
 
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