I am new

I looked at IB. But, their customer service is geared torward the professional and sophisticated. Whereas, TOS's customer service is geared torward the retail trader like me.

 

I had to go back and re-read since I value your opinion.

1) relying SOLELY on market timing. notice the word solely...I know you and everyone use a number of resourses including the greeks...NOT just charts????

2) Buying ONLY OTM options...no option trader buys ONLY OTM options...

3) Using strategies that are too complex. You don't agree that you do need to understand how the greeks affect the different strategies before you use them? Start simple and work your way up...

4) casting too wide a net on option choices...this actually is tied to #3 Again as you experience different markets and have experience trading different volatilities then you can manage more effectively multiple types of trades.

I think what the author is saying is novice traders DO those things to the exclusion of perhaps more profitable...higher probability trades. Look at your CTM trades...you use your charts to HELP time your entry...and you often leg into the trade to get a higher probability of return. Those are not the types of trades a NOVICE would do...or could do with the success you have.

 

trust me, its not that difficult. if you can get a handle on greeks, IB is pretty easy to deal with.

 

good reply , Rally

 

Thats a mistake. I am just a poor schmuck trying to navigate through the sea of options.

Now that i know who the author is, it makes even more sense. Mislead the newbie with a bunch of bs in an effort to push services. Anyway, not going to take this any further off topic but just like mo said, that book is as good as a july spx 1300 call at july expiration.

 

Thanks for that! Assume was for informational purposes only.

Being a writer for Optionetics does not neccesarily lend credibility to his earlier published texts if that was the intention though. Indeed, some on ET would argue that an association with Optionetics implies the exact opposite! The pros/cons of Optionetics is an oft discussed topic here on ET so I'll defer to earlier threads on the matter.

If you are a happy Optionetics customer then that's all you need to know

MoMoney.

 

Not sure if anyone answered your question but have a look at www.ivolatility.com

MoMoney.

 

Thanks. Now I found that, and probably from IB TWS as well.

 

stay away from the greeks...there is a much much simpler way to trade options with out all the complications of black and scholes, greeks, etc. youll find it...just remember...the simpler the better

 

I know at least one ET member (Arnie Guitar) that will strongly disagree with you on the greeks statement.