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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?! -- Ignore unavailable to you. Want to Upgrade?

To: speedbird who wrote (50)	1/17/1999 12:56:00 PM
From: jttmab	Read Replies (2) \| Respond to of 611

Given that 90% of all options traded are losers....You might be better off remaining uninformed and avoid trying your hand at it. If you continue to be interested, I would suggest looking into selling covered calls as an experience...One could argue that it is virtually impossible to lose money selling covered calls..... Best Regards, Jim

To: speedbird who wrote (50)	1/17/1999 1:13:00 PM
From: Mark[ox5]	Respond to of 611

Speedbird, all I trade are CALLS, and I just profited from my first PUT (DBCC) Just stick to those 2 at first...that is all I know... and you can do well. they are very easy... its just leverage. If you buy a CALL and the stock goes up you make more money than if you bought the regular stock. The opposite is true of PUTS (they are a safer way to short) There are a million other complex option trading instruments but I would stick to the above 2 for the beginning and after you know them inside and out, then move on if you feel the need too. Personally, that is all I need to know about options... at least for the time being. Good luck.. go to cboe.com and click on education

To: speedbird who wrote (50)	1/17/1999 2:37:00 PM
From: J. P.	Read Replies (5) \| Respond to of 611

Options trading is very complex. Believe me, there is no book at Walden's or Borders or Amazon.com that is going to tell you how to make it work for you. You can know all about Scholes-Black equations, deltas, betas, and all the other greeks, and still lose every penny that you've worked all your life to save, and lose it on one trade. Fact is, you most likeley will lose all your money. Successful options trading absolutely requires you have and maintain skills in market analysis, security analysis, options pricing, and most importantly have an intuitive understanding of leverage points. Also it requires you have a mastery of your own emotions, and that you have b*lls of titanium. Missing just one of these items will cause you to fail, and the options traders will take everything from you and your children. Sound harsh? It's true. Options pits are shark pits and they swallow us small investors like minnows, we don't even provide an appetizer for them. They'll rip you off on executions, and look for every opportunity to screw you out of every penny you own. Just something to keep in mind before you quit your day job!