Hi Clappy: Answers to your questions follow:
David did a great job selecting some of my past posts that he referenced in post 25428. Therefore, I'll try to be brief and not ramble too much other than to supplement my previous posts he mentioned to you.
1. Did you learn options trading on your own or did you take any courses or seminars on it? If books, which ones. If a seminar, where?
Learned trading options on my own. School of hard knocks. No courses. Books, yes, I read some and there are some good reference material posted in the headers on the various option threads on SI that I know you are aware of.
I am a believer in experience.I have told many friends that to do options you might as well write off the first three years. I believe it takes that long to really get good at it. I've told people to consider it as tuition. My belief has been confirmed by a few who stuck it out and later came back and said I was right on. So, don't get discouraged, just realize options are not easy. They are risky. You will make mistakes that cost you those initial years. But, you are gaining experience which the books can't teach you. You have to experience getting burned a few times and experience some market fluctuations a few times.
2. Do you use TA to help you decide when to buy and sell?
If so, what tips can you throw to us.
This was well answered in one of the posts David referenced that I had posted before. So check it out. I will reiterate, I do not square root TA to death. I fail when I do that. I use my gut and experience the most. Feel for the market... I like to use charts and look at the recent movement and then compare with a longer trend as explained in my post David referenced. I like channel charting and, right or wrong, when I look at charts the way I do, I can tell within seconds what I want to know. A snapshot and I move on. Check out my answer in one of those other posts for more.
3. Do you play "Puts" as well?
Yes, I buy puts. I don't sell options. I buy calls. I buy puts. You may recall that a couple or three months ago when the Naz went crazy I mentioned on the Porch that I was trading QQQ. Until things settled down, rather than worry about a specific company or sector, I simply traded QQQ. And, I did great. I'd buy calls, let it run up a couple of days, sell, take small profits, watch it, wait for turn, then buy puts, let it go down a day or so, sell them, then buy calls, and do it all over again. Those little ole elementary rules like up 3 down 2 do wonders. I like keeping it simple and I think that is where experience and feel for the market also helps me.
Hope this helps, along with those other posts of mine which I appreciate David taking the time to find for us.
Good luck.
Have a great weekend, Clappy.
RR |
