Dear Meister:
I have been learning how to trade for a couple of years now. I believe that in trading, the money flows from the weak to the strong. I entered this experience with a "free-introductory" options advisory system tucked into my MoneyShow bag and dollar signs dancing in my dreams. I want to tell you not to make the same mistake that I have, but who am I to cheat you out of your fun?
Why do the biggest global financial organizations - waste their money in an "arms-race" of sorts by hiring the best and the smartest computer programmers and money managers and traders, and outfitting themselves with ever faster and faster computers, when all they really need to make a killing is a $20 newsletter?
I have read Groenke's book. We all have a style of trading that suits us best. His was not for me. If you like put selling, try Jeffrey Cohen's book "Put Options" for another perspective. See if you have a local options investor group where you live. They can be fantastic places to rub elbows with many who have "been there, done that" before you.
Food for thought: If you want to trade this or any system for real money, fund your account with money that you are willing to lose to the stronger trader. We all take our lumps. The challenge is to make it consistent profitability before we run out of money. My good friend CJTrader says: "You can learn how to be a good trader, you just can't learn it fast." Best wishes. ~greg
On Sun, Sep 13, 2009 at 9:46 AM, schlange.meister <schlange.meister@gmail.com > wrote:
I have read one of the PDFs from the files section about minimum account balance to start. The author of the question implied that one should have Advanced GET or Platinum to do option trading. I am looking to do credit spread options and covered calls.
Do these tools actually help or make one more successful? I have TOS and that package seems quite good. If you combine that with Groenke's Vision software you can screen for good candidates without too much trouble.
What software tools are considered "musts" or "best to have" to write options and generate a monthly income from writing options?
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