wkloss
231 posts
msg #96891
- Ignore wkloss |
10/13/2010 10:50:42 AM
chadik12000,
Before you pick a coach or software, you should investigate the different ways to trade options. Directional, income style, hedging etc? Well respected people have vastly different opinions so this is almost a chicken and egg situation.Here are a few of the better ones:
For income style trading, Dan Sheridan is the best. You can find a lot about him on sheridanmentoring.com. He is honest and doesn't nickle and dime you. He also has some great software. There are some free instructional videos of him at the CBOE site. The question is whether the markets will stay calm enough for income style trading. Jon Nagarian was one of the owners of Mercury Trading where Sheridan worked. Jon has said on several occasions that he doesn't like income style anymore.
Jeff Augen and Dan Passarelli are well respected. Both write weekly articles for SFO magazine which is a free publication. Augen doesn't offer much traditional education like seminars but he is probably the most creative person in the options industry. Passarelli offers traditional courses. Reading back issues of this publication would be worthwhile.
John Carter is well respected too.
Price Headly at Bigtrends seems like a brilliant person but several people I know, me included, have trouble making money with his methods and services.
There are several sites that specialize in covered calls. They offer some good web based software for finding trades.
You won't find many of these guys other than Headley who do much directional trading.
After several years learning from one of the above, I have come to the conclusion that the safest way to trade is deep in the money covered calls on quality stocks. I usually go out about 6 months or so and I get good downside protection.
Regarding software, you can find a lot of free software and free education on broker sites. Thinkorswim has great software but the learning curve is steep. OptionsXpress & Trademonster aren't quite as good but much less difficult to learn. I bought some stand alone software from one of the biggest names in the business. Big mistake. Be careful.
As you can see, I'm reluctant to trash anyone but I strongly suggest that you investigate first. The really difficult aspect is dealing with the totally opposite opinions regarding the different trading styles.
If you want more specific info on anything above, let me know.
Bill
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