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How to Trade Options » OPTION TRADING SYSTEMS » Option Trading Class

Option Trading Class

The Best Option Trading Class Delivers These Essentials

The right option trading class can make all the difference between success and failure for the serious trader. There are literally hundreds of courses and seminars out there, all claiming that they will make you a fortune if you follow their methods. But I have learned from personal experience that first impressions about options trading are the ones that tend to stay with you for a long time. If your initial approach to option trading is based on a system that doesn’t fit with the kind of trading style you’re best suited to, the result can be disaster.

For example, the simplest option trading system involves only the purchase of call or put options depending on where you expect the underlying price action to go within a few days. An option trading class like one conducted by supertrader Nik Halik will teach you about short term entry signals and chart patterns, which, if followed exactly, should result in about 7 out of 10 trades being successful. Combining this with stop loss, profit taking and money management rules – with a starting bank of about $10,000 you should theoretically be able to make about $1,500 per week and quit your day job.

But … and here’s the reality of it … do you have the self discipline it takes for the two major components necessary to achieve success and not wipe out your trading account using a system like this, which are:

1. Patiently wait for the exact entry signals to appear, which may mean you only enter one or two trades per week, if that.

2. Take your stop losses at the recommended limits every time.

Not everyone can do this. Some are distracted by their “day job” while others just can’t bear the thought of accepting a loss (especially if it is your first trade) and hold on in the hope that the price will recover. More often it does not.

Another option trading class I know about teaches you how to trade credit spreads. They provide an e-book and Excel spreadsheets plus historical data to help you paper trade historical charts. These have a different risk profile than simply buying options and are more of a longer term monthly strategy. But they do teach you the value of rolling your positions up or down – or even out.

The Best Option Trading Class

But the best option trading class I have come across so far, is a set of videos that teach you two things:

1. How to set up iron condors and double calendar spreads on index related options on USA markets.

2. How to adjust your positions for maximum profit. This is the part that makes all the difference – learning the art of adjustments.

3. How to use long term strategies that maximise wealth

The videos are very professionally produced by a company that call themselves Tradingology. You can either watch them online or download them and play with your media player. All up, the viewing time is about 40 hours including bonus videos, but you can get the main gist of it after only a few hours viewing. The rest is about refining the technique.

I have viewed most of the Trading Pro System videos and found them very exciting, as the profitability is very reliable and extremely low risk.

There is another option trading class produced by an organization called “Safety in the Markets” which focuses on using the techniques originating from the famous Wall Street trader W.D. Gann but this is quite expensive.

Some option trading classes focus on just one area of option trading such as covered calls – and you can find a covered calls coach to help you with this, or do a Google search for the Sharelord program run by Nik Halik.

In the end, the most important thing to remember, is to choose an option trading class with a profile that matches a trading style which is best suited to your available capital and what you know about yourself.

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Filed Under: OPTION TRADING SYSTEMS Tagged With: best option trading class, class trading options, find options trading class, good options trading class, option trading classes, trading options classes

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DISCLAIMER: All stock options trading and technical analysis information on this website is for educational purposes only. While it is believed to be accurate, it should not be considered solely reliable for use in making actual investment decisions. This is neither a solicitation nor an offer to Buy/Sell futures or options. Futures and options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this video or on this website. Please read "Characteristics and Risks of Standardized Options" before investing in options. CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVERCOMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.