So many going around, all paid for of course. Are any actually worth it? If so which ones? Are there any free ones that are actually good? Thank you!
I wouldn't look for shortcuts, and especially paid ones. More often than not, those will lead to disappointments and wasted money. But you can find, option veterans in here. Fail often, re-invent, come back here, ask questions , have a good time and spend no $.
If you're talking about a signal calling options trade alert room for options to give you advice on which option plays to trade...I don't recommend using such. Never follow specific trade advice on what to trade, when to buy and when to sell from a signal calling trade alert room unless you're sitting next to the person and you're able to see that person take the exact same trade. In contrast, if you're talking about options chat room with different traders posting their option trades, market analysis and other typical market chat that you will see at any forum...just use Google. I've seen a few listed on Twitch / Discord but they are not there to provide education if that's what you're really after. Best to get your education about options from your local library or Amazon. You can then test your knowledge on simulators and/or simulation trading competitions prior to any real money trading. There's a guy here at Elitetrader with the user name destriero that's well knowledge on Options and he knows a lot about Twitch / Discord even though its typically a site for gamers. Talk to him because he may have come across a few free options chat rooms that are not there acting like a signal calling options trade alert room. He may also recommend some good beginner books on Options. wrbtrader
Jtrader is the best. doing also options. need to pay of course. if you join tell that Yossi recommended
ty for the reply I had a look at his site, seems like the rest of the sites that charge. What are your thoughts on why he is so good? thank you again
I took a peak at Jtrader's sight. I would be very cautious of someone claiming >70% win rate for long option positions. My understanding is a typical trend trader is 30 to 40% win rate (for options that would be long puts or calls; @ironchef what's your win rate?). I think those who add fundamentals or a news catalyst to the decision making get a 50 to 60% win rate. I don't know what kind of win rate a swing trader gets (they sound like trend traders on a shorter time frame to me though) Short option positions have high win rate because the trader is betting the market will continue to go in the primary direction, side ways or even slightly against. But because of vega and gamma any fast or large move against you (even if position is still OTM) can show a loss. And if not careful the losses can be big. I'm a short options trader. Failed at directional trading, the why would be for another post. I've taken my lumps from big news announcements and earnings. It took about 3 years to figure out how I wanted trade selling premium
I find following people on Twitter good because they talk through their trades and welcome contrarian opinions. Except some people, they block me when I tell them they are wrong.