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A meeting place for option traders to discuss strategies.
Active Since 11/27/07
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Gordon Gekko
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I have been making small options trades for about a year now and was wondering what resources Tradeking Option Traders use to pick options such as news sources, publications, educations websites / courses, and software. Currently I use CNBC, yahoo finance, americanbulls.com, and this site as sources of news and analysis. I am looking to improve my knowledge and ROI and am thinking about subscribing to a financial newspaper such as Barrons or something more specific to options such as monsteroptions.com. What do Tradeking Option Traders use?
Posted March 11, 2008 (07:00PM)
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jimmyzzz
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can anyone help me understand why someone would purchase 8,800 shares of dryships over a seven day period and than short sell 17,000 of the same shares for a major loss.not just dryships,but also mastercard,rimm,pcu,and euronext.why would anyone lose over a half a million dollars in a three month span of someone elses money.mostly done with short sells.or how could a person show these big losses. but really might be hiding stocks or other assets elsewhere.how is this done.please any help would be greatly appreciated
Posted March 14, 2008 (08:05PM)
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Marcus
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Gordon, I read Wall Street Journal, eWeek, Business Week, Forbes, INC., Value Line, etc.... Also, I have accounts at Fidelity, Vanguard, ThinkorSwim, Sharebuilder, Tradeking, etc... I use Valueline tools, Fidelity, ThinkorSwim, and Tradeking, etc... I have to tell you that the analysts typically are worthless. I treat options just like stock. My venture into options started with LEAPS. Progressed to more risky short term spreads. Must say the FRO's really intrigue me. I am not great at picking stocks that increase in value and seem to have a knack for the more declining type. Probably where I am going to play from now on.
Posted May 12, 2008 (12:16AM)
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The Inside Skinny
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look at chart setups and earnings announcements. try playing stocks with a high beta. they say that volatility can cause you to spend to much on an option but if the underlying moves then you are going to make money. do not make it more complicated then it seems. compare the stock to the industry average and if the stock looks like it is going to move compared to the indicies then place the trade. see the percentages of the stock move compared to the indicie average. if you think that the indicie is going to move a certain amount then look how that stock moves in comparision to that indicie move.
Posted May 20, 2008 (01:16AM)
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JOHNEDGAR
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Have use valueline options survey. It allows screening for option returns based on strategy very well and save it to a spreadsheet.(excel). It can screen by setting a minimum return % etc. seems to work well used it for now 6 months. only do covered calls in my retirement account
Posted May 22, 2008 (09:36PM)
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Jim Bradley
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Gordon, I read Optionaddict.net daily, look at OneOption scanner for daily highs/low, and then look at technicals before I enter a position. Also like Finviz for scanner, and market graphs. For technicals I use stockcharts gallery view and look at MACD, %WilliamsR, RSI, Aroon, and Oscillator, before I enter a long or short option position. I also subscriber to Vector Vest, and two Schaeffer option services. VectorVest is good for fundamental analysis, but the market is pretty irrational since Nov 07, so I trade more on technicals. The option services are also pretty weak now, because the market volatility is high and direction is sometimes unpredicatable. Trade Smart, JB
Posted May 23, 2008 (06:20PM)
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Jim Bradley
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Gordon, I am also starting to use Pivot Point analysis for intraday entry and exit pricing. JB
Posted May 23, 2008 (06:21PM)
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rmvtrebor
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Gordon......I am in a trial period with vectorVest, do you recommend on staying with it or is it no better than other stock analysing software? Im just starting to use it so new to it, I have wasted 2000 over the last 6mo. in trading options, not using stops to protect myself and lose all my money. Services are crap lately, I have used several off and on and that may be part of my problem. like they say do your own research before investing. I am an indicators trader I guess you could say, try to time as different indicators show a stock going in a direction, but miss on timing and usually catch it on the reverse. So if there are veteran traders (options) that could lend a hand in a little guidance would appreciate it, I love trading but the loses are greater than my wins so far.
Posted August 08, 2008 (04:14PM)
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Jim Bradley
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Hi, I have been trading stocks lately, after blowing up my options accounts. Lost some big bucks on credit spreads and iron condors. Volatility really did me in. So I'm trying to learn more technical analysis skills and trading stocks. Using MACD, oscillator, as the primary indicators. Also use pivot points for intraday support/resistance levels. I use Vector Vest also. It's good to screen stocks for your criteria. But some of the standard screens don't work well with the rapid sector rotation we have now. The high VST, Smooth comfort, etc, seem to weigh the long term history too much. You have to look at the technicals to decide if the stock is still in your desired trend either up or down. The Aggressive screen is pretty good as sectors rotate, but many of the stocks are very small floats - bulletin board, pink sheets, and no options available. regards, Jim
Posted August 14, 2008 (07:54PM)
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sandirose2
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I use Wizetrade and Wizetrade fpr Options. The software is very helpful. The charts are easy to read and it's a great company. I don't know what you have to pay dor the vector vest, Wize trade can also be used live for 99.00 a month. I myself have bought the software and I would not trade without it.
Posted August 25, 2008 (03:05PM)
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FX_Capitalist
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I use the Bible of Option Strategies and Investopedia. I trade away and I trade to death all the contracts I can buy when I have decent info on what security I want to exploit.
Posted September 15, 2008 (09:58PM)
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