The Fastest Easiest Way to Learn Option Trading
Anyone wishing to learn to fly state-of-the-art modern aircraft would expect to train on a flight simulator. Yet most people new to option trading do NOT avail themselves of SAME modern technology. You might be thinking that software to help you learn option trading at least ten times faster, would cost a lot, but it’s FREE!
Any of the top brokers such as TD Ameritrade (Think Or Swim), Fidelity, Options House, Options Express, and at least a dozen others – allow you to use the ‘paper-money’ trade simulation that you can download FREE (usually when you open an account -which costs nothing).
I am the author of Options Exposed -The Most Popular & Profitable Option Strategies of All Time. The first edition of this book has been out barely six months – and has already zoomed to the Top #20 and top #10 ranking of ebooks and paperbacks in Options‘ category on Amazon and Kindle.
Before I wrote my book on options, the first thing I did was to order the top 20 best-selling option books – and read them all cover-to-cover. I wasn’t sure the world needed ‘one more option book’ pretty much like all the others.
Here’s what I discovered: Some of the books were really great, but NOT a single ONE of those ‘best-sellers’ urged option students to use the best training tool ever invented to learn options.
One of the short-comings of people who write ‘how-to’ books have is that they tell the reader to use books – and then more books – to learn before doing a thing. My thinking is the exact opposite. My book has a quick overview of all the terms and basics, but then I urge my readers to open an account and download their free software trading platform. Use my book and the software to really get some hands-on training. Use the trade simulation mode (the paper-money trading), to actually learn BOTH the software and the options at the same time. Why? Because when you trade that is what you have to do! You can’t learn to drive an automobile by reading about it!
After all, when you go ‘real time’ with real money, you have to use ALL this together to trade successfully. Plus your learning is fun, accelerated, and interactive so you can see immediate real-time results. Like a video game, if you lose your money, you just reset and try again while you are learning. Sure – you will make mistakes – and that is what learning is all about — DOING a thing rather than just reading about it is so much faster and infinitely more fun.
My book features a lot of ideas about the types of trades that use a high probability of success. (Credit spreads, passive trades that use combinations of options). You have to learn to trade smart and find advantages. A special section discusses how to open your account, getting the free software, – and also gives hints to help you negotiate low commission rates.
You are going to hear and see ads that that tell you can buy their system; it’s like the ‘holy grail’, a system to make you rich quick with no effort and nothing to learn. They have a saying in West Texas: “Don’t piss on my boots and tell me it’s raining.” The ‘money back’ guarantee of those systems may cover part of the cost of the material but NONE of your losses.
Only about 3% of stock traders are trading options, so you will be in a relatively elite group. In Options Exposed, you can read how to avoid common mistakes, how to open your initial account, pointers on the psychology of trading. They have a saying at the poker tables that “scared money never wins”; read about how to control your expectations and and to trade within your risk-tolerance levels. Choosing the right type of trades to suit your account size and expectations – is vital to your success.
Trying to learn options without using one of the trade simulators free from your broker is crazy! You learn to trade by learning to use the software platform that you will be using to make money. We live in very exciting times for traders; we can trade from anywhere we have internet access on any one of a number of portable devices, or the comfort of a big screen desktop.
There are many links in my book and instructions on how to take advantage of your brokers free videos, webinars, chat-help, telephone help, and more. I discuss how you can use these things to help make learning beginner to advanced options trade as easy and fun as it should be. You never lose when you choose to invest in yourself – Learning to use options is a skill set that can make you money the rest of your life.
Thanks & Good luck – Don A. Singletary
Amazon listing for my book here. My book also comes with a 43-page BONUS chapter: Three Strategies That Work So Well the Pros Try to Sell Them To You.
Some recent reviews:
MONEY AND TIME: “If you were thinking of taking an expensive course to learn options, you should read this book first.” – C. Parks /OE Blog
By B.Fredrick on June 10, 2015
If like me you have tried online webinars and monthly “subscriptions” for trading options you will find this book an excellent easy to read and understandable “Toolbox” on option trading including references to free information including videos and webinars.
By Skidmark on October 11, 2015
When I first saw this book, honestly, I thought this was going to be one of those ‘We unlock the magic secrets of investing in market’ mega-hype kind of books. I’ve read a number of books on options that are twice as long as this one is, not nearly as brightly colored (options books have to be drably colored because the subject is complex and not too exciting, right?) and deal much more with the theory of options rather than strategies. If the book doesn’t devote three chapters to Black-Scholes how good can it be?
As it turns out it can be very good.
Before buying it I kept looking back at it as I probably understand about as much of the theory of options as most mere mortals can but expanding my arsenal of options strategies is where I could use some more work. Most books stress theory and not the daily application of it. I finally decided that even if I get one good tip that is profitable in time it will pay for the book many times over.
After buying and reading this book I wish it had been one of the first options books I’d read. I think it was a year after reading my first book before I ever entered a trade because that book made me think I needed to be able to solve for any variable in the options pricing model before I should ever *consider* placing a trade. I was pretty intimidated by options. In his book though, Don mentions things that need to be mentioned but not necessarily stressed, stresses things that need to be stressed and speaks in the language of traders and investors, not theoretical statisticians. His explanation of delta – how to calculate it and how to use it in trades – is one of the simplest I’ve seen.
see more reviews here Amazon