Discussion in 'Options' started by curious2, Jul 5, 2006.

  1. curious2


    I have no experience in options whatsoever. That being said experience is the best teacher. I am considering a thinkorswim account combined with the red option equity calendar strategy and employing the auto trade function. I'm thinking it's like riding the bike with training wheels. I get to ride without taking the big crash, and maybe make a few bucks while I learn. Any and all comments welcome :)
  2. Happy riding.
    daddy's boy
  3. There's no risk of financial loss.
  4. Redoption won't teach you most of what you need to know. You'll still need to get some good books and do some studying. There is a lot of good info here on ET too. Read through some of the journals that focus on the strategies you are interested in.
  5. How will you learn if RedOption is doing all the work?

    Better off taking the classes Thinkorswim offers and learn how to fish :)

  6. This goes back to the same argument or question....are those advisory services any good?

    From what most people say, they aren't...more like cons, giving people good advice they can figure out after reading a book...and giving bad advice that screws them out of more money, in addition to the sums that they forked over

    btw, I really love options trading now and I owe it all to Larry Mac's "Options as Strategic Investment" book
  7. curious2


    first, I want to thank everyone who responded. I plan on reading books, taking classes etc... but I figure this will let me see the whole process in action, and trust me I will be asking tons of questions along the way. unfortunately like you young guys I don't have the time to devote to this pursuit that I would like to. I have a young son and all the responsibility that come with him, and would like to be able to point him in the right direction one day. If this service turns out to be a loser don't worry I will share with the class. If it's a winner you'll know about that too. The thing about getting older is your ego doesn't get in the way as much.:D
  8. leonnis


    I'm a subscriber to Red Options calendar spreads and several others RO spreads. When their advisories come out i put them on the TOS charts and run them thourgh an old copy of OptionVue i have. I use about half of them. I find that the fact that they are watching the spreads and not just me is probably the best thing about them. :) Sure wouldn't let RO or anybody else trade my account without seeing the spreads first.
  9. curious2


    so of the ones that you use, in hind sight how many of the total were winners? How many of the ones you end up trading are winners?
  10. leonnis


    The calendars that i've used since i've been using it were eight winners and four losers.
    The credit spreads were also about 2:1 positive.
    Commissions take about half the winnings, but i've learned to accept that if the net value of my account keeps going up!
    #10     Jul 6, 2006