I am a forex trader looking to get into options. Can you recomend a good option course. Not too basic.
There is a ton of info on the web so don't be too quick to pay for an options course. Try the OIC (option industry council) and CBOE websites first. Also check out the book recommendations on ET.
shucks, like one that gives strategies and how to adjust them as the market moves against you so forth and when to use the strategies, you from a trader who is the man and makes money.
It is highly unlikely you will find one that gives you an edge. Better as above, find freebies on the web, and learn all the aspects - greeks, writing vs. buying, slippage, broker, etc. But you are most likely to find out after a few years of this, you did not make money I would avoid forex and options, and consider individual stocks or maybe non-index futures. Highly liquid instruments tend to be more efficient, but illiquid instruments punish you in slippage. But EVERYTHING is tough to find longterm edges...
I am a forex trader too and I have been trading FX futures options in Globex for several years. You might want to try some simple strategies first, such as time spread or vertical spread to get an idea how the options work. For free strategy analysis tool, Check out the Options Lab at http://www.TheOptionsLab.com which is pretty good.
Please refer to http://optiontimeline.com where you can paper-trade options and build strategies. Don't get into options before you fully understand the risk!
I havent traded in 2 yrs or so but i did the forex thing for 5yrs and never made money on it . The last few years of trading i broke even but its just a losing proposition . too much stress and time being a 24 hr market then the broker screw you daily . Gave up the dream of working 1 hr a day on the beach and making $200k a year stress free. Thats what they sold me on when i signed up !
There a list of free internet resources on learning options trading here http://optionstradingresource.blogspot.com You can even get a free options strategy physical poster from CME mailed to you.
Have you tried to analyze your fx trades ? I trade both fx spot and fx futures options and have been doing well from very beginning. Below is what I feel I have been doing right, ** only my two cents of course ** Do opposite what most fx traders do, which is Never day trade fx, I usually hold fx position from several days to several weeks. If you cannot sleep at night, cut down your position size. As matter a fact, I sold some EUR puts two weeks ago and bet that EUR wouldn't drop below 1.48 during the same period. I closed the trade yesterday with a decent profit. FX offers huge leverage, but you don't have to take the bait :-} I only take 10x leverage, not 100 or 200.