Advice on Options

[ShareIt]

Hi,

I have been snooping around this forum for a while and find the information very helpful. Being a beginner, I have learnt a fair bit about options trading and the basics to go with it. I started trading 6 months back and was having a really good run thinking that "hey, I am really good at this"... then came the reality check and it did cost me a fair bit However, I definitely felt it was a very good lesson at the same time and that perhaps spending more on the technical side will eventually get me to where I would like to be

I was wondering if anyone could point me in the direction of some good books to read up on (easy to read)... about understanding charts, finding out when is a good time to enter the market for either a put or call, and some good simple strategies and when they are best to be used...

Also, out of curiosity, does day trading in options work out or is it best to look for trends over a few days? And how much time should you give yourself before an option is set to expire?

Any other words, strategies or advice would be much appreciated

Thanks in advance!

 

[wayneL]

I was wondering if anyone could point me in the direction of some good books to read up on (easy to read)... about understanding charts, finding out when is a good time to enter the market for either a put or call, and some good simple strategies and when they are best to be used...

Also, out of curiosity, does day trading in options work out or is it best to look for trends over a few days? And how much time should you give yourself before an option is set to expire?

Any other words, strategies or advice would be much appreciated

Thanks in advance!

There are no "easy" reads that will answer your question satisfactorily.

Options by Guy Bower is basic and may help, but you should really read McMillan or one of the more noted writers.

As far as daytrading.... nope, the option spread kills it and there is no point using them.