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Sunday, July 27, 2008

How to learn to trade options

1) Learn something about the stock market. With options, there are strategies where if you guess wrong you can be hedged (and sometime even make money). I recommend the book Power Trading by Oliver Velez.

2) Implement the scans / screens in a charting package. I use TC2007 from www.worden.com

3) Learn to trade options the right way. I recomend the guys over at Options University.

4) Open an account with Think or Swim. They are the best options platform out there by far. Paper Trade, Paper Trade, Paper trade the material in the Power Trading book and Options University education.

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