Learn How To Trade Options

[jpmartin]

Own Nothing, Control Everything

- JD Rockefeller

Curious to know if anyone would like to learn how to trade options? I'm building a course on option trading, that also brings another twist to the above quote!

 

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[GuestUser156]

If you're good, yes!

But why would you do this? Are you not supposed to be making money already trading options?

 

[jpmartin]

If you're good, yes!

But why would you do this? Are you not supposed to be making money already trading options?

Selling the byproduct. I'm not good, just average Question is how much would you be willing to pay...

 

[Ronnie]

Selling the byproduct. I'm not good, just average Question is how much would you be willing to pay...

If you're average, why would someone pay you to learn? Not knocking your hustle, just a potential FAQ topic for your future business.

 

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[jpmartin]

If you're average, why would someone pay you to learn?

Good / Average are relative words...

Thanks... definitely will be showing my own results before launching. I trade what I teach, and teach what I trade.

 

[MJ DeMarco]

If you're average, why would someone pay you to learn?

In the world of options, just knowing how to play is difficult, so I don't see any incongruency there. And then once you learn, making a profit from your trading is just as difficult. I used to trade options a lot and it's my preferred venue of speculation vs equity trading. Three items that it has 1) Control and 2) Defined Risk and 3) Time expiry ... these things have Fastlane qualities.

 

[Jinxus]

If you're average, why would someone pay you to learn? Not knocking your hustle, just a potential FAQ topic for your future business.

You know that a lot of the people who sell "how to make money from home" actually don't make money from anywhere else besides their make money from home offer. It's all about building an expert persona.

 

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[jpmartin]

Three items that it has 1) Control and 2) Defined Risk and 3) Time expiry ... these things have Fastlane qualities.

Precisely. Which is why I treat it almost like a business, like a craft.

 

[jpmartin]

In the world of options, just knowing how to play is difficult, so I don't see any incongruency there. And then once you learn, making a profit from your trading is just as difficult. I used to trade options a lot and it's my preferred venue of speculation vs equity trading. Three items that it has 1) Control and 2) Defined Risk and 3) Time expiry ... these things have Fastlane qualities.

MJ, just noticed that you said "used to"... what caused you to stop?

 

[Jinxus]

Seems like quite a few billionaires got their start with options/commodities. Just three examples off the top of my head:

https://en.wikipedia.org/wiki/Aliko_Dangote (Africa's richest man, $25b)
https://en.wikipedia.org/wiki/Marc_Rich (net worth: $1b)
https://en.wikipedia.org/wiki/John_Fredriksen (net worth: $11.3b)

What separates the average options trader from the future billionaire options trader?

 

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[jpmartin]

What separates the average options trader from the future billionaire options trader?

Maybe I should be clear on the definition here, I'm not doing options on futures or commodities. I'm doing on stock options (and ETFs). Maybe not as lucrative, but hey, I don't have the intention of becoming a billionaire... yet.

 

[MJ DeMarco]

MJ, just noticed that you said "used to"... what caused you to stop?

Priorities. I was spending way too much time on it and simply not making enough to warrant the time expenditure. I haven't been back since because my trade platform (TOS) no longer works with my Mac. (Need to upgrade to Mavericks) I will definitely go at it again though.

 

[jpmartin]

Priorities. I was spending way too much time on it and simply not making enough to warrant the time expenditure.

With what you're making in a month, yes... relatively speaking, it's probably not worth the time

But, cmon... "need to upgrade to Maverick"... especially when it's free! That's a lazy excuse - hint... nudge... Cmon MJ. Let me entice you with this chart...

graph...

 

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[MJ DeMarco]

But, cmon... "need to upgrade to Maverick"... especially when it's free!

Ha I know but I've always had a fear in upgrading my OS, my computer is everything. Guess it comes from the old days when I used PCs.

 

[splok]

Ha I know but I've always had a fear in upgrading my OS, my computer is everything. Guess it comes from the old days when I used PCs.

As someone who's recently had nightmares adjusting to a Mac after a lifetime of Windows use... there's still plenty to fear from upgrading

 

[jpmartin]

Just to get the thread back on track... I have a survey, incase anyone on the forum wishes to learn more on options trading.

 

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[Berters]

I'm certainly interested. I've studied Forex and charts, watched a lot of seminar material on candlestick charts/patterns by Steve Nison, covered a lot of technical analysis material, spoken to a few people who trade forex for their main income etc, but haven't put any real money into anything yet.

I've always liked the idea of options, like MJ says everything is defined and there is a sense of control.

Feel free to use me as your success story to sell the product, all I require is free access (Seriously though, if you need any feedback from the perspective of a buyer...)

 

[David P]

Options are tough, that's why I learnt with :

http://www.daytradingzones.com/

But he's not the only one :

http://www.investimonials.com/

SO, what will make yours be different?

Be different, don't follow the crowd....

Good luck

 

[jpmartin]

Options are tough...SO, what will make yours be different?

No & Yes.

No, options are not tough - they're simple once you understand the fundamentals.

Yes, you're right - there's probably not much difference anyways.

In fact, I'm re-thinking the idea teaching others. I might as well make money from my options trading and keep quiet. Oh, btw, this is not day trading - I call it life style trading - I'm not glued to the screen.

Cheers

 

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[David P]

No & Yes.

No, options are not tough - they're simple once you understand the fundamentals.

Yes, you're right - there's probably not much difference anyways.

In fact, I'm re-thinking the idea teaching others. I might as well make money from my options trading and keep quiet. Oh, btw, this is not day trading - I call it life style trading - I'm not glued to the screen.

Cheers

Your'e right, it's more a Yes/No thing, I agree.

As goes the lifestyle thing, I like the sound of that. Sell them on the lifestyle thing.
So many people go the "guru" route, or the "I trade, hence I can teach"....

But people want time to do other things. I day traded for a time, and yes, I enjoyed it,
but it is draining, and there is a lot of hype. I traded the ES, and small caps, and I still
do once in a while. Options are just too technical at times, but for the Lifestyle thing
they are probably the best. Time decay and stuff like that, if played right means you
can "trade" a few hours per week, depending on the vehicle, weekly/monthly options.

Go do it, good luck.

D

 

[MJ DeMarco]

like MJ says everything is defined and there is a sense of control.

My strategy tends to be a seller of options because I like the time component. Fastlane is about having time work for you, not against you. When you sell options, you put time on your side. I updated my operating system and TOS is back online!! Look out! HA HA

 

[David P]

Agreed MJ,

Options selling gets the cash in the bag, but time decay needs to be tracked, today being a Friday, and less risk of "holding the bag".

This could be of interest to you : http://www.daytradingzones.com/

Have a look, nothing to loose.

Have a good day......

D

 

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[jpmartin]

Mj, curious as to what you're doing - now that you're upgraded and back in the game with TOS...

My take...

So are we in the midst of a correction or something even more dramatic, the start of a bear market? As a strategy, instead of taking a long put option, I'm taking a short term put position (few months). If I'm wrong, I won’t lose as much, if over time I prove to be right, then I’ll have made a profit and will be more clear about taking a longer term position. Let’s let the market tell us where we’re going...

If you're following the VIX, then you'll know Volatility is your friend, especially when selling put options.

 

[sanrrys]

I've already traded options stock market in brazilian's Bovespa , but per lack of knowledge, wasted much money what i earned in Swing Trade.

 

[markonestock]

but your losses are unlimited. Many a trader has been wiped out selling options. Black Swan event = end of your account and more.

Keep to the stocks.

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My strategy tends to be a seller of options because I like the time component. Fastlane is about having time work for you, not against you. When you sell options, you put time on your side. I updated my operating system and TOS is back online!! Look out! HA HA

 

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[jpmartin]

but your losses are unlimited. Many a trader has been wiped out selling options.

Sorry, can't comment unless you're clear as to whether you're talking about puts or calls.

 

[markonestock]

Sorry, can't comment unless you're clear as to whether you're talking about puts or calls.

if you sell then it makes no difference. Unlimited unless you edge it

 

[jpmartin]

if you sell then it makes no difference

How does selling a put option make unlimited loss?

 

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[markonestock]

How does selling a put option make unlimited loss?

on what? Stocks/indices can tank 25%+ in one day or worse. In theory your losses are open ended in practice...you will probably get away with a big loss to fight another day. But it is a skewed risk/reward ratio. 8 winners can be wiped out by 1 big loss.

 

[liquidglass]

There's a little friend called an Iron Condor that fits some situations you're mentioning that can limit your loss in the case of unexpected volatility.