I know you been doing this a long time, here's my experience...
Ain't no fancy book can teach you to trade options!
I make a lot of consistent money in options. The only thing I do is buy calls or puts naked (the options, not me -g-) and let em ride (again, the options, not me -g-).
The only caveat is you have to have the proper market analysis, the correct security analysis, then you have to have the courage of your convictions to weather the inevitable storms. Oh yea, you have to have a good instinctive feel for perfect leverage points...then you have to know when to buy, and you have to know when to sell...and you can forget about all the loss cutting schemes and stops you always hear about....did I leave anything out? Oh yea, before you start making money, you have to fail about 1000 times, and lose all your money at least twice, and if you then fail some more, my advice is to give it up, buy an index fund, and do something much easier, which is just about anything -G-
EDIT: Oh yea, I forgot, you have to know how to get a good fill on your contracts so the market maker doesn't do to you what Clinton did to Kathleen Willey... |
