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Red

Options Trading Education

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Hello Everyone

 

I just joined Traders Lab today.

 

Am interested in trading options on NYSE.

Previously took a beginners options trading course to learn the basics and some strategies.

Been paper trading those strategies for over eight months now with very limited success and lately, a string of consecutive losses.

I have stopped paper trading to consider how to improve my trading.

Despite my record to date, I still enjoy trading. But feel stuck. How should I move forward? Acquire more knowledge? Continue practising the strategies that I have learnt?

 

I briefly considered signing up for more options education courses but do not think paying for more courses and mentorship again is the solution.

 

Grateful for any advice on how to move forward and/or online education resources.

 

Thank you.

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hi Red, welcome,

 

I think you're in the right place, at one time or another every trade experiences this........feel free to check the old thread regarding options trading and I am sure you will find some helpful stuff in there

 

keep trying

 

cheers

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Hello Everyone

 

I just joined Traders Lab today.

 

Am interested in trading options on NYSE.

Previously took a beginners options trading course to learn the basics and some strategies.

Been paper trading those strategies for over eight months now with very limited success and lately, a string of consecutive losses.

I have stopped paper trading to consider how to improve my trading.

Despite my record to date, I still enjoy trading. But feel stuck. How should I move forward? Acquire more knowledge? Continue practising the strategies that I have learnt?

 

I briefly considered signing up for more options education courses but do not think paying for more courses and mentorship again is the solution.

 

Grateful for any advice on how to move forward and/or online education resources.

 

Thank you.

 

Everyone gets stuck at times and knowing where to go as a begineer is always an issue.

IMHO - dont sign up and pay for any courses until you have done your own homework first. there is plenty of free info on the web.

 

Work out what style of trader you want to be, how active you want to be and how much time you can allocate to this.

eg; do you want to auto trade a computerised system?

discretionary trade longer term trends, scalp, use options, use stocks or futures, buy and hold, day trade, swing trade, ......

There are lots of styles and strategies - if you answer the one that makes money then you have missed the point. You need to think about what to focus on, otherwise there is a lot of information out there.....and time is a valuable asset.

Also - why have you lost money? You should review this for insights into what you are doing and maybe why you are doing it.....are you long or short options, do you have enough money to cover costs, is the market suited to your methodology.....is options trading even the right thing to start out with?

 

This will at least give you something to focus your self education on...and never be afraid to ask questions as the only dumb question is one that is not asked. :)

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Thank you Trading Wizzard and Siuya for your helpful advice!

There is much to think about. Appreciate the reminder about the importance of time and focus. Thank you.

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