I have been using index option spreads and ETF,s. I would start with the DOW and S&P and NASDAQ 100 indexes There is a lot of study material also available on these and have one of the highest PROBABILITY of SUCCESS. STUDY STUDY STUDY first I like most did not I tend to take chance and jump in the water !! before I could swim very well. It cost me $4,000 in 6 weeks and I was considering spending $6,000 on MENTORING/ training. NOW I wish i had the $4,ooo back I would add the $2,000 and be so much better off
I will mentor you for FREE right here LIVE in front of everyone. Time to prove that the best mentoring comes from readily information already out there in the world, just have to know how to find it, harness it, apply it and learn from it. Some is worth paying for (Cottle or Sheridan maybe) but in general for beginners most is freely available. So to prove a point I will mentor you for FREE here. To make sure it is clear, I will NEVER require any money from you whatsoever but just be patient sometimes as I might not be able to post every second of the day. I think this will be educational for many people to follow along with and maybe prove to myself that ET can be educational and useful and not just a pool of racist rants or Hershey posts. So I throw my offer out there for you and if you say no, no harm no foul. I am not sure spread trading is the best way for you to go being a conservative retired investor looking for capital preservation above all else. If I think you are not ready at all for trading yet or taking too much risk and you choose to ignore the advice then we simply part as friends and I wish you luck. A true mentor will teach you options so that you can trade for yourself and learn. I am not here to show you any tricks or shortcuts as there are none. I cannot promise you performance as it all depends on you. I can teach you how to use the tools properly but you alone are responsible for building the house. If you are looking to be handed a grail or trading system then this will not work as I am not here to hand you anything but teach you to fend for yourself. You must devise your own trading approach and system. Oh... I wont force you to buy my book either lol...
I,ll be your student. Should be very interesting. I know I am new to this BUT ! I think spreads on index,s seems conservative. Also, please do not put me in the retiree box. I am the youngest 64 old you would EVER meet. Not only by look ,people think generally I am about 52-56, but thats not important what really counts is that I have been a penny stock player by HEART and made a lot of money and lost some of it.I have THRIVED on RISK all my life but have had above average success with spread trading, but i am interested in learning ALL types of successful trading techniques. What do you think?
Spreads on indexes or any option strategy can be conservative if applied conservatively with tight risk management so it all depends on how you approach it. In other words, using 90% of your capital for options in a retiree account is not conservative no matter the strategy. As for retiree I meant no disrespect with respect to age, I meant that your capital needs to be preserved more than someone at a younger stage who can earn back early blow-ups. I would tell any retiree to divide their capital and make sure a chunk of it is safe and secure for retirement and the options portion like you are looking at should be a % of total portfolio. Be aware that every single strategy can be used to make money IF used under the right ciscumstances. Clearly some strategies are riskier than others but I would not force my opinion on which strategy you must use. The more you learn about options the more you may learn of other strategies that match your risk tolerance and trading style. For example, I was never a big Butterfly person but the more I studied spreads and volatility I started using them more (also after many discussions with Cottle and Riskarb). So you never know where or what strategies you might morph to.
Saving that for the $10,000 a head advanced seminar I will promote on late night infomercials right after Wizetrade.
I'm a bit puzzled too, very generous offer from coach...did he mention he was an OPTIONS....tradingcoach????? Exactly what are you looking for in a coach? Someone who teaches you timing? or someone who teaches you the best types of trade in various markets? Position management? This could be a very educational thread for many of us.