Knowledge is power and nothing will serve you better than information when it is a question of options trading. More than anything, you must have a good understanding of what the risks of options trading are, because only then can you have a handle on what to expect and target from the standpoint of returns.
My recommendation is to download demo platforms offered by almost brokers’ websites and test them thoroughly. If you have any specific questions you can chat online with brokers to get answers straight away. Also be careful, some dishonest brokers give you the answers that are just to entice you open a live account with them. Another best solution is to consult with a trustworthy Introducing Broker (IB) to discuss and to have a clear understanding what you need. The IBs can help you best match your needs with various suitable platforms. You should get free consultations from IBs because they’re compensated by the broker firms that they’re doing business with by right. So the solution is to consult with reputable and trustworthyIBs only, in which their best interest is to add values to their customers on a long-term business relationship. As long as their clients are happy with recommended brokers so their compensated fees.
And, what about…..
The internet and Ebook technology has provided investors with hundreds of resources, but along with volume comes a variance in quality. You must do research when assessing if a source of options information is legitimate or not. Investigate any resource and be assured that the information they’re providing is both accurate and in your best interests (rather than theirs). Also, look for experts and advisors who actually use their own strategies, and even their own capital, when promoting their strategies.
Like most elements of the court’s decision to scrap Internet openness rules set by the Federal Communications Commission in 2010 — how it affects Netflix, and your bill, is complicated. The short answer is that your bill won’t go up this month. It probably won’t go up next month either. It may go up eventually, but in all likelihood, Net neutrality won’t be the reason, or at least not the primary reason. Netflix’s $7.99-a-month price will have to rise eventually, but …
One resource you surely will never need: an expensive seminar. Options can indeed be complex. However, the overplus of free or inexpensive resources available in books or websites makes paying hundreds or thousands of dollars for a class unnecessary.
Cashing in on Covered Calls. Investing with Stock Options by Alan Ellman and Barbara Karnes. This eBook’s value lay in its detailed consideration of the most popular type of option trade. It provides step-by-step strategies for both finding the best stocks to write covered calls against, as well as when to close out one’s position.
Understanding Options by Michael Sincere. Another Ebook that is mainly for the beginner, but also offers up a few advanced lessons and uncommon advice. The book has 44 four and five-star reviews on Amazon out of 47 total, with many reviewers praising the book’s content.
Option Trading in Your Spare Time: A Guide to Financial Independence for Women by Wendy Kirkland and Virginia McCullough is a terrific book that concentrates on providing women tools to augment their household income using options. Written by women for women, it empowers women who’ve never set foot across the world of investing by teaching a number of the basic strategies for covered calls and selling puts. The prose is concise and easy to see and makes an excellent basis for newbies.