2007-03-10 05:14:36 · 7 answers · asked by Jc 1 in Business & Finance ➔ Investing
There are plenty of people who will help you with option trading, for free, if you first invest the time and effort to learn more about the subject first.
If you know very little about options, start at the OIC site
http://www.888options.com/
and read through the "basics" "advanced" and "strategy" pages. Then
(1) Start paper trading (simulating trades on paper without actually making them)
(2) Take the "online classes" at the OIC site mentioned above.
If you have questions while going through the above steps, do not hesitate to ask. As well as (or instead of, if you prefer) asking here, I suggest asking on the message board at
http://messages.yahoo.com/Business_%26_Finance/Investments/forumview?bn=4686677%23optionsquestionsansweredhere
You may also want to post paper trades on the message board at
http://messages.yahoo.com/Business_%26_Finance/Investments/forumview?bn=4686677%23optiontradestraderecommendations
where you may, or may not, get some feedback from options traders about the pros and cons of the trade.
Once you have the background from the above steps, buy and read at least one or two good books on options. "Options as a Stragegic Investment" by Lawrence McMillan is probably the most widely cited and praised option book, but it is long and, IMHO, a little dated. "Options Volatility & Pricing" by Sheldon Natenberg is another classic and widely praised book on options, but some people find it too technical. The important thing is to find a good book that you are comfortable with. You can browse through a number of books at a large library, a large bookstore, or at amazon.com to find those you like.
When you are ready to start doing actual trades (which may be before finishing reading any books you buy) start with small, relatively low risk trades. Many people say covered calls are good for novice traders.
Keep asking questions when you have them.
One final comment. Offering to pay someone when you start making money may get you advice that is not in your best interest. If you said you would pay me a certain number of dollars when you started making money, I might steer you towards strategies that will usually make money but that could have masive losses, while if you said you would pay me a certain percentage of your gains, I might steer you towards trades that had the potential to make massive gains or losses, since I would profit if there were huge gains but have no loss if you lost all your money.
2007-03-10 07:27:26 · answer #1 · answered by zman492 7 · 0⤊ 0⤋
Not certain about the points made but ,if anyone else trying to find out what is trading binary options try Imforda Trading Profits Guide ( search on google ) ? Ive heard some unbelievable things about it and my mate got excellent success with it.
2016-06-05 23:09:23 · answer #2 · answered by Manish 1 · 0⤊ 0⤋
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2016-10-18 01:09:28 · answer #3 · answered by Anonymous · 0⤊ 0⤋
the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.
2014-12-18 13:58:19 · answer #4 · answered by BRANER 3 · 0⤊ 0⤋
This is for free, but some of the sites will charge you, still there is plenty of free stuff that is quite very good, especially the really authoritative stuff from the exchanges.
2007-03-10 08:32:03 · answer #5 · answered by Rabbit 7 · 0⤊ 0⤋
You will pay us when you start making money huh? My suggestion to you is don't "Invest" too much in options until you know what your doing. They are a lot riskier than stocks, if you "Invest" (BET) too much before you know what your doing you may find yourself BROKE.
2007-03-10 08:30:58 · answer #6 · answered by Mike H 1 · 0⤊ 0⤋
I have a blog on option trading. The blog roll links to other option traders. Read & learn:
http://coveredcall.wordpress.com
2007-03-10 15:43:26 · answer #7 · answered by Tim P 2 · 0⤊ 0⤋
read tips on investing , stocks and mutual funds to help you better on this site
2007-03-10 05:31:58 · answer #8 · answered by tuff luv 2 · 0⤊ 0⤋