Ep 75: Trading Options: The Real Way Money is Made from Options
★ SUMMARY ★
In this episode, number 75, what I’d really like to do is go into some basics and just give you some more insight, some ideas about how options are traded.
Over the last couple of weeks I’ve been busy filming an options course, and I’m still working on that course, there’s a lot of material that I’ve been working on but, I do realize that I haven’t really focused a lot on sharing some insight and wisdom at least on the Thursdays lessons here on the webcast that we do, about options
And there’s a few different reasons for that really. One of the reasons for that is because options are very different from trading stock.
Trading options is different than trading stocks
They are a little bit more complicated, in fact quite a bit more complicated if you don’t know or don’t understand what you’re doing. So the risks can become much greater if you are unknowledgeable and if you are unaware of the consequences and the risks.
There are of course great upsides, so options really were invented for risk management and proper risk management with options, can actually give you a lot of advantages if you know and understand what you’re doing.
The problem with options, with most people is that they don’t know what they’re doing, and when you don’t know what you’re doing, then that’s really when you can burn your account and blow your account up and have a lot of damaging consequences when you don’t know and understand what happens when trading options.
Don’t read this if you’re a beginner
If you are just joining me, if this is the first time you’re listening to these let’s talk stocks sessions, or the lessons then I highly recommend you actually don’t watch this lesson, don’t listen to this lesson, go and get the basics, go to the website tradersfly.com and just go to the training section and get some of the basics and fundamentals.
Once you’re in this training section, when you get there, there’s going to be a lot of different lessons in here that you can just go and browse to, such as the wall street basics and terms. Even the trading basics and fundamentals, technical analysis basics, money and risk management basics. All these things will help get you started on the basics and fundamental level.
Once you do get into some core material and you’re starting to understand things and you want to trade options, what you could do is go through some of the videos that I’ve already created such as these little shorter videos, and go through them and learn some of the basics behind trading options.
Just search for “trading options”, or “options” and you’ll see a lot of different videos that I’ve already created, so I won’t be covering exactly all these basics in the sense of going through the basics of these option videos, I’m not going to go in detail about every single one of these things that I’ve already covered in these videos.
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