Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
OptionsMike
-
Content Count
13 -
Joined
-
Last visited
-
Hello Cuttshot, Yes still selling options in the form of cc's and csp's. Psst two months have been great. Hope your trading is going well. OptionsMike Safe Options Trading Income
-
SIUYA, Many thanks. At the moment I'm somewhat simialr to you in that I like to test ideas reather than actually do pure mechanical trading. Great trading to you. OptionsMike Safe Options Trading Income
-
Blowfish, SIUYA, and riwaseeka, Thanks for your posting on this thread. What software, if any, do you use for backtesting? OptionsMike Safe Options Trading Income
-
Chrisadam, Thanks very much for he ideas. I'll check into them! OptionsMike Safe Options Trading Income
-
Hello Manolo, Thanks for your response. I agree with your comments. Do you use any particular software? And how does it work for you? I have been using Wealth-Lab but I do not like all aspects of this program. I have been checking out Tradery products and StrataSearch products but have not formed an opinion yet. Wishing you successful trading. OptionsMike Safe Options Trading Income
-
All, I'm interested in developing some robust medium-time-frame trading systems that I can evaluate by backtesting. I'm looking for soild recommendations on which software people use and why they like it. Thanks, OptionsMike http://www.safe-options-trading-income.com
-
One of my favorite strategies is to watch for stocks that are down hard for four or more days, then begin to show signs of stabilitzing or going up. I consider selling-out-of-the- money puts on these. Once in the trade, I put a pre-defined stop loss on the trade. Interestingly, XOM is showing up on my screens this past week as a possible candidate for this put-selling strategy. OptionsMike Safe Options Trading Income
-
Introduce Yourself Here - Don't Be Shy!!
OptionsMike replied to trading4life's topic in Beginners Forum
Hey MC, Thanks for the kind words. Happy Trading! -
Introduce Yourself Here - Don't Be Shy!!
OptionsMike replied to trading4life's topic in Beginners Forum
Dude, You bring up some real concerns. I believe everyone should have a well-defned plan before going into the options-trading world. Several ideas with which to mitigate some of the risks you bring up: Sell far out-of-the-money options; the win rate is higher and the pennies (or dimes and dollars) in front of the steamroller can add up. Second, always have an exit plan. Get out at a pre-defined loss, well before the option goes in the money. Third, under some circumstances, sell cash-secured puts where you don't mind being put the stock because its part of your plan. Good trading to all! -
Introduce Yourself Here - Don't Be Shy!!
OptionsMike replied to trading4life's topic in Beginners Forum
Hello MC, I agree with you. When the VIX is high it is a good time to sell puts with their elevated premiums. I describe this in more detail at Options Volatility Trading. My special caveat on this would be how will you exit the position if the market really goes strongly against you. In other words, have a pre-defined exit position and stick to it so you don't suffer a huge loss. -
Introduce Yourself Here - Don't Be Shy!!
OptionsMike replied to trading4life's topic in Beginners Forum
Hello to all. I've been a trader of stocks options and futures for over 25 years. By far my favorite way to trade is to use conservative techniques to sell options. I like entering into cash-secured puts, covered calls and credit spreads. I like the built-in edge that options selling provides: they waste away with the passage of time. I have built an informational website on safe-option trading and I invite everyone to visit it at http://www.safe-options-trading-income.com I look forward to my involvement on this board. Good trading to all! Options Mike -
I use them for trading stock options, futures and futures options. I am very pleased with the service and educational materials they provide.
-
For options on futures I use OptionsXpress. I like them. They have good service and an excellent website. OptionsMike