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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Grantcw who wrote (141078)	10/15/2010 11:47:39 AM
From: CommanderCricket	1 Recommendation Read Replies (1) of 206182

cwilly, First, learn to trade TD Ameritrade's "Thinkorswim" platform. It was designed for options trading. Second, I like trading in lots of 10 for options (represents a 1,000 shares of stock). Depends on your capital though. Forget about the commissions and consider them a cost of doing business. Regarding the bid/ask spreads? Place your sells/buys mid point between the two and wait. I can usually do better on the bid/ask on the higher priced stocks like IOC, BTU, etc...then the lower priced stocks such as ATPG. Returns? I'm happy with a goal of 2% a month and have beat that number since starting trading options. It's a full time job and requires you to completely understand the fundamentals of the stock. It's a lot of work. Trade what you know and take profits when presented. No buy and hold with options - LOL

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