once you become a profitable equities trader, what is the next step? the following is an interesting statement from "ral" of undergroundtrader.com: "...the question of trading becomes a two part adventure.... the first part is finding methods that work (with the proviso, that you can work the methods) and teh second part, is determining the most "money" efficient markets to trade.... by money efficieny is meant the %gain in relation to the amount at risk per unit of time.... on this basis, there is a clear "order" in terms of money efficiency.... the most efficient market is the options market.... the next most efficient market is the futures market and teh least efficient market is the equities market this is very interesting because the number of traders in these markets is exactly the reverse.... most daytraders are equitiy market traders and the fewest number of day traders trade options.... one point in favor of this arrangement is this.... if you can succeed in equity trading.... everything you learn there will benefit you in trading the other markets so it makes sense to cut your teeth in trading stocks and to get good at it.... then you will be ready for more money efficient trading..." if he is right, should i now start reading books about futures and options? here is something i'm curious about.. aren't options more like betting on a horse? in trading equities, i've learned to not necessarily bet that i will be right, but instead let profits run and cut losses quick as they happen. with options, is it even possible to cut losses quick and let profits run? i admit i don't know much about futures and options..