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Created: 03/23/2008 04:18:13 PM - Followers: 173 - Board type: Free - Posts Today: 0

This board is for those who wish to enhance thier trading experience by investigating options. Here, you can learn how to determine option pricing and the advantages of using different strategies to hedge your portfolio during bear markets and to maximize profits on them during bull markets.

Before you trade any options, heed this advice:

1. Get a practice paper trading account and trade the same amount that you plan to fund your account. Practice for at least 3 months before you place your first real trade. Failure to do so will likely result in what is known in the option world as Max Pain on the options you own.

2. Call your broker and find out what Level of Options Trading Authority they will give you. There are 5 levels, and it is essential that you are allowed at least Level 4 trading authority. This way you can limit your risk and increase your chance of a winning trade.

I use the Think or Swim ( www.thinkorswim.com ) platform because they offer all 5 levels to everyone. It is a decent platform, They have a web based platform and a desktop application (which is what I prefer) and have the ability to project future option pricing and backtesting for those who prefer it. They have 2 charting programs for redundancy, one of which is prophet charts, one of my favorites. They are very customer focused and will likely match commissions. Most brokers will only allow level 1 or 2 to inexperienced options traders, which is, in reality limiting your ability to hedge any trade that goes against you. You need to be able to hedge your trades, which is the true meaning of the word OPTIONS, in my book. You need to have the option to turn a losing trade into a winning trade with these levels of authority.

3. Get with a group of traders who focus only on options and futures. You can learn alot from people who are all focused in the same direction. Contact me for details. I am not a paying member, so my posting is limited but can reached at optioneducation@yahoo.com, and "mrweekend" at HSM. I am sometimes found on paltalk as stockzilla too.

4. This is NOT A GAME! This is serious business and if you treat it like a business, you can reap the rewards of owning your business. Those rewards come in the form of $$$$$$$. If you treat this like a hobby, you will be paid accordingly. Every hobby I have been invoved in has cost me money. None have ever paid me.

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#447
Vertical Spreads Webinar leemalone2k3 12/19/2011 02:31:43 AM
#626 Hi sorry I missed your question last week. leemalone2k3 06/22/2021 10:00:33 PM
#625 Newbie Covered Call Question MTRX2 06/18/2021 09:08:03 PM
#624 Thanks for giving us this info. Manwaring 01/23/2020 07:26:06 AM
#621 Can someone explain these non-standard options to me? johnnyb61820 07/19/2018 09:15:15 PM
#620 What Farooq said. Also volume is low because leemalone2k3 10/25/2017 09:04:34 AM
#619 1- 90 % of option buyers lose money farooq 09/18/2017 12:40:25 PM
#618 Why is the volume of stock options so low? naturalborninvestor 09/13/2017 12:56:59 PM
#617 Any recommendation? dbelov275 09/01/2017 12:56:14 AM
#616 Great idea, get a demo acct. and practice leemalone2k3 08/28/2017 12:51:32 PM
#615 Okay. But I may some sort of d dbelov275 08/28/2017 09:22:01 AM
#614 You are welcome. Come on over to optionmillionaires.com leemalone2k3 08/24/2017 09:34:28 PM
#613 Thanks for this board. It was really helpful. dbelov275 08/22/2017 04:01:51 PM
#612 Question to board, does anyone know what this SSP 09/16/2016 12:28:20 PM
#611 Thanks. Still haven't figured out what they Zorax 06/26/2016 01:04:50 AM
#610 Hi KittP, leemalone2k3 06/25/2016 09:39:32 PM
#609 I'm extremely pissed at Oanda. They just Zorax 06/25/2016 12:28:14 AM
#608 On your site, it talks about a bronze Zorax 06/24/2016 07:31:40 PM
#607 Lee, thanks for the offer in Pm, but Zorax 06/24/2016 06:23:45 PM
#606 Just bought AAPL 93.50/92.50 put spread for next leemalone2k3 06/24/2016 03:53:38 PM
#605 Great! Keep me updated. When trading indices I leemalone2k3 06/24/2016 03:43:24 PM
#604 I'll be looking into this shortly. Zorax 06/24/2016 11:45:02 AM
#603 Unfortunately we don't have a free section. Premium leemalone2k3 06/23/2016 11:02:42 PM
#602 Checked out your site, way too rich for Zorax 06/23/2016 03:20:02 PM
#601 I will be a regular reader. It's Zorax 06/23/2016 10:11:03 AM
#600 I would advise paper trading them (practice) while leemalone2k3 06/23/2016 08:23:21 AM
#599 Thanks...I'm looking at shorting the main index's as Zorax 06/23/2016 02:32:07 AM
#598 Hi KittP. leemalone2k3 06/22/2016 06:35:07 PM
#597 Hey leemalone.... I think scottrade allows me Zorax 06/22/2016 06:16:29 PM
#596 I've been trading it and doing well off TheLastOneSitting 02/05/2015 10:46:40 AM
#595 I would rather trade the stock instead of leemalone2k3 02/04/2015 09:10:00 PM
#594 Just to clarify I understand the risk/reward aspect TheLastOneSitting 02/04/2015 04:32:46 PM
#593 This is probably a really stupid question... But TheLastOneSitting 02/04/2015 02:52:11 PM
#592 Here's another good resource...... Check out his other AnG5640 01/08/2015 12:10:35 AM
#591 Good training course for options. Well worth AnG5640 01/08/2015 12:06:24 AM
#590 I think the best place to learn to leemalone2k3 12/08/2014 04:09:19 PM
#589 What do you guys think is the best phaseshift 12/07/2014 06:34:25 PM
#588 What do you guys think is the best phaseshift 12/07/2014 06:34:25 PM
#587 Bbluck Part of that $155 is not really a Toofuzzy 07/26/2014 12:59:33 PM
#586 Hi bkluck Toofuzzy 07/26/2014 12:51:35 PM
#585 I had to call them and verbally prove Parabelle 06/26/2014 02:32:15 PM
#584 Jarvis, I recently switched over to TDA from Scottrade jukemaster 06/24/2014 06:29:46 PM
#583 I am having trouble getting approved for tier Jarvis27 03/06/2014 09:41:32 AM
#582 Earlier that week. leemalone2k3 02/19/2014 10:21:54 PM
#581 When did you starting Legging into the sold 530/535? db 02/18/2014 12:39:35 PM
#580 .... db 02/18/2014 12:34:56 PM
#579 Hi db, leemalone2k3 02/18/2014 12:30:35 PM
#578 Hi there Lee, thank you for replying to db 02/18/2014 12:20:11 PM
#576 BTW, the problem with your scenario of selling Newly2b 01/13/2014 07:27:00 PM
#575 I think what it comes down to is Newly2b 01/13/2014 07:05:15 PM
#574 I think thats a great way to buy leemalone2k3 01/13/2014 05:23:01 PM
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