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This group is for brand new option traders. If you've never traded an option, this groups for you. Although... we would like to have some experienced option traders to help us through the more difficult trades. I will start this group with a simple covered call. This will be my first option trade, so the excitement starts right away. We will be using The Options Playbook as our guide. Everybody can ask all and any questions without the fear of looking like an idiot.

Active Since 10/21/08

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Options for Beginners Forum > New to this and some helpful tools

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DX

Member since: Sep 08
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Posted December 03, 2008 (02:44AM)
Hello Everyone,
I have been following the forum posts for the past couple of months and just join this group. I am very new to options with just a couple of months of reading and learning. No options trades so far. I purchased some stocks to speculate and others for investment. The speculative ones have left a sour taste in my mouth, and learned that I should have used trailing stops. Oh well, anyways. I will be around here learning from all of you.

I am not sure how you guys like the charts here but I am have been using the free software from CBOE.com for a couple of months for paper trading and I have to say that it is the best specially since its free!. The quotes are very close to real time. CBOE uses thinkorswim plataform and you get the prophet charts and normal charts. You can add any study you need. I recommend this to anyone trying to find good charts.

See you guys around.
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Pro V1x

Member since: Jun 09
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Posted July 01, 2009 (03:58PM)

IMHO If you like the speculative stocks buy a protective put rather than a trailing stop to ride out the wild swings in such stocks. For your investment stocks you can write a covered call to earn some premium while you hang onto your stocks.