17 Comments
User's avatar
Chris Mc's avatar

So many people are hurt from trades that are never talked about.

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Jip Meijer's avatar

Thank you all for your good advice and concern. It is appreciated. I tread carefully, but will do so more. To be fair Gregory gives a lot of warnings too, but sometimes people don't listen or don't read the book or copy the trades blindly. And I am studying options and trading. My broker has lots of free information and webinars as well as other brokers overhere in the NL. I am also convinced simple strategies that you understand work best. Thanks again and heartfelt greetings

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PDA's avatar

Good luck...AND trade safely.

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Markinthelight's avatar

Peace. Thank you.

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JimO's avatar

Has anyone here thought of going with Michael Pento?

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Someoneisfollowyou's avatar

Thank you.

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Trader Joe's avatar

That answers my question! Thank you as I am a beginner and dont want to move too fast into what I am unfamiliar with. Your book is A+++. Thank you. Greg

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trumpHELL666's avatar

Greg's book is good, but starting at the basics might be a good idea for you little buddy. Just don't want to see you get eatin' ALIVE!

https://www.amazon.com/All-About-Options-Thomas-McCafferty/dp/B005Q7BQDW

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Jip Meijer's avatar

Took some time to set up with my broker and have done two call trades. I am getting comfortable with the operations of calls. I also get comfortable with looking at the 10Y, crude, DIX etc. But I could use a specific trade suggestion for call options and/or credit spreads now and then to get used working with the stock screener and setting up spreads. Can't let daddy's hand go yet ;-)

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PDA's avatar

Jip, you are NO way ready to trade options with real cash...Like 90% of Greg's followers on this site. Here's a free suggestion. Open a paper trading account with TD Ameritrade. The platform is called Think or Swim. It's free to you and will give you the ability to trade your ideas without losing a cent. ALSO, do NOT look to Greg's book for the knowledge that is required to learn and trade options. Based on the title of this thread, its a far cry from his suggestions a month ago. He went from suggesting to buy options...to..selling options without properly educating his followers. He roasted ALOT of people with this last selloff in the market over the past week. Trade safe and good luck with your journey.

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PDA's avatar

AND READ READ READ. Options are one of the most complex instruments to trade. They should not be so easily accessible to the public IMO.

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trumpHELL666's avatar

Like Paul said......you might want to paper-trade options FIRST before committing to buying for cash. Options are fun as hell to trade and I LOVE trading them, but I keep my options trading simple, I trade ONLY long Calls and long Puts. I trade no 2/3/4 legged options. I don't get fancy with Butterflies, Iron Condors, Straddles, Strangles orspreads. Options have their own trading "rules' to them also so make sure you know those rules. If you paper trade for 6 months or so first that will be a good thing.

You might want to read this.

https://www.amazon.com/All-About-Options-Thomas-McCafferty/dp/B005Q7BQDW

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PDA's avatar

YO 666 how's trading lately? Hope its good or at least survivable :)

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trumpHELL666's avatar

I'm swing trading. I'm all in. 98% SLV Calls. I cash out my other options when I see a decent profit so trading is.....like watching the paint dry. Hahahahahahahahaa! I'm a patient man though so I don't mind. 😃

Hope your self control is going well. I would say hope your trading is going well, but I've found that trading.....is not about trading at all, it's about self-control. We ALL can push that buy button, but do we ALL have the fortitude, stamina and patience to take a profit?

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PDA's avatar

There is A LOT of options pinning SLV to the $25 range (key Gamma strike). Once that breaks this will be off to the races until $30. Just to note exactly 8.82% of the $25 strike options expire on 3/19. Not to say it will back off, it just becomes vulnerable. Once we close above $25, I will be on this trade like a hobo on a ham sandwich. Trade safe!!!

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Markinthelight's avatar

Paper trade!!!!! till you see it.

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George Loveless's avatar

Just wish Fidelity would pull their head out. I applied on Feb 1 to trade options with them and as of yet have not been approved..... They told me on the phone over two weeks ago that I was approved and the just had to update my account. And have not done so yet..... And if you call you are on hold for 1.5 hours. Meanwhile I applied to TD Ameritrade as a backup and got approved instantly. Not sure what Fidelity is doing but Im not very happy with them....

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