Thursday, January 28, 2010

RE: [TheOptionClub.com] Some freebees for the newbies and beyond

 

I think useless is a pretty strong word, and probably inaccurate. The purpose of paper trading is to develop the appropriate trading skills to take you to the next step, and does not by no mean substitute for trading one’s actual hard earned money. Because the difference between paper trading and real trading is so different psychologically and emotionally, I don’t think the small hiccups in the execution price really does not matter. This would be especially true if your trading underlyings with a small bid/ask spread like the SPY, IWM, etc. It allows you to get used to the trading platform, performing the same analysis as you would with real trading.

 

From: OptionClub@yahoogroups.com [mailto:OptionClub@yahoogroups.com] On Behalf Of Reed Merritt
Sent: Tuesday, January 26, 2010 9:19 PM
To: OptionClub@yahoogroups.com
Subject: Re: [TheOptionClub.com] Some freebees for the newbies and beyond

 

 

Thanks, Mike.   Some very useful sites there.

Just be sure that the Think or Swim paper trading function is working properly. Several years ago, when I gave up on it, it would let you get into a trade (paying at the ask, of course) and then claim you were in halfway between the current bid and ask or at the current ask, instead of the bid, which would have been correct.  It incorrectly inflated your profits until you sold, at which time it would reflect the actual profit, which would be well below what your unrealized profits would show. 

I complained about it, but they did nothing about it at the time.  For that reason, I dropped Think or Swim and now use TradeStation.  I hope they have fixed it.  If not, their paper trading function is basically useless, although it is better than OptionsXpress. 

Reed

Mike Cleveland wrote:

 

Thank you very much!

Mike

From: bben1006 <bben1006@yahoo.com>
To: OptionClub@yahoogroups.com
Sent: Tue, January 26, 2010 9:25:22 AM
Subject: [TheOptionClub.com] Some freebees for the newbies and beyond

 

Some freebees for the newbies and beyond. Check the all out:

1)      Actionable daily options reports/suggestions from S&P:  www.cboe.com/ LearnCenter/ SP_Reports/ default.aspx

2)      Actionable weekly options reports/suggestions from ivolatility:  http://www.ivolatil ity.com/roller/ page/trader

3)      Daily report on unusual order flow/volume/ events by trade-alert: http://whatstrading .com/

4)      Unusual option activities: www.crimsonmind. com

5)      Daily premium values and program trading by indexarb: http://www.indexarb .com/index. html

6)      Daily option report by IB: http://individuals. interactivebroke rs.com/en/ p.php?f=daily_ analysis

7)      Option analysis/charting software OptionOracle by www.samoasky. com

8)      And the best of all: paper-trade of the ThinkOrrSwim platform: www.thinkorswim. com

Enjoy--

 

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