First off I am not as uninformed as you might think. I have traded options a few times and Trippled my money (On google). I have read through 4 books so far (the past week) on someone who has traded successfully on the market with a low amount of capital. Turning it into enough to live off of dividends and covered calls. I have also spent countless hours scouring the web for anything I can find. The reason I am looking for successful profitable traders is to find a mentor. I want to learn from people who are successful. There is no point in trying to learn from someone who hasn't done it or doesn't believe it can be done. And for clarification these are the reasons I want to compound my money. #1. Parents in bad medical condition and has no financial future (not there fault won't get into it) #2. I absolutely hate my job and want to be financially free to enjoy life. #3. Want to give and fund charities and be able to give to people that need help. I have no intention of driving an expensive car around or buying an expensive house. I am not a material person. My goal is to make enough money to be able to live off of (And support my family) with dividends and conservatively selling Covered-Calls. I am not on here to find someone to email me "The Formula". I am here to get as much rock-solid information from people who have been successful and learn as much as I possibly can. I have said nothing rude or accusive to anyone so please don't post those type of things on this thread. And if anyone successful out there wants to be my mentor I would be more then happy to take your offer. Thank you for your time in reading this.
Well all the websites out there are scams. Most of the books are scams. The only true and real information you can get is from experienced people who actually did it. Thats where I want to get my information from.
thn/x I am not "super rich" so to speak. but making a living is achievable at this point solely from options. Anyway, some guideline from me, if it's not that bold: Do not follow "bullish", "bearish" strategies - arbtirage is the real deal. Yes, option arbitrage does NOT grow on streets - but with some persistance and about 10k in your pocket you can at least achieve a "lving". If I had better business connections I'd be probably running a hedge fund by now, but...well....life's a bitch most of the time .
Ok isn't arbtirage something to do with options at expiration? I havn't looked into that. What is it exacly that your doing?
In economics and finance, arbitrage is the practice of taking advantage of a price differential between two or more markets: striking a combination of matching deals that capitalize upon the imbalance, the profit being the difference between the market prices. Source: http://en.wikipedia.org/wiki/Arbitrage