Hi, Im new to option trading, but have traded stocks for a few years now. Im very interested to get start into option trading. But lost where to start, I have been reading on this forum and others but its mostly over my head. I have purchased a few books so i can get a feel how to trade. Im just wondering if anyone has any tips on what to study or what books are very good for new ppl to this vast world of option trading? I would like to get a firm grap of option trading in 2-3 years is that possible? Thanxs for any input!!
1) The Rookies Guide to Options. Explains what you need to know, in easy language and in detail. (I wrote it) 2) CBOE.com Look for education section. 3) http://www.optionseducation.org/ The Options Industry Council has free inroductary webinars. Take it slowly and don't begin with any of the more advanced books. Mark http://blog.mdwoptions.com/options_for_rookies/
Just read everything that you can get your hands on. Absorb what you can. Don't worry about the rest. In time, it will make sense if you put the effort in.
That's what i was hoping I bought two basic books, very excited to read them. Taking alot of notes, hanging them in my room, studing like crazy. I have been in automotive repair and I'm sick of getting screwed for a reason or another and I don't have a huge trust fund to start my own business. So I like the idea of getting payed for all my efforts and not sharing profits with the other guy. Don't get my wrong, I'm keeping my head I don't think i will make 40% every year. But every extra hundred dollars is hundred dollars in my pocket. Not $25 in my pocket and $75 in the dealership's pocket. I'm young, very little responsibilities, so i have room for mistakes also with time to recover if the worst happens. I'm ready to learn a lot, even if options don't work I will have a better feel for the market and that will never hurt me in the long run. Again thanxs, for helping out the new guy!!!