Tuesday, September 15, 2009

Re: [TheOptionClub.com] Is it required and does it actually help: esignal or Platinum

 

>> I believe that in trading, the money flows from the weak to the
>> strong.

Hi Greg, you never told me that my money was flowing to you all this while:-) Thanks for solving the puzzle that I have been trying to solve for years.

>> What software tools are considered "musts" or "best to have" to
>> write options and generate a monthly income from writing options?

Hi Meister, you may be disappointed to hear this but there are
no such tools/software. If there was one, the person owning the software will most likely not share it with people like you and me.

Also please do not get too carried away with what many call as "the way to generate monthly income for writing options". Trading is extremely hard so kindly concentrate on understanding different options strategies, their pros and cons and risk management. And please follow Greg's advice on starting small and risking what you can afford to lose...

Cheers

--- In OptionClub@yahoogroups.com, Greg Farber <gregfarber@...> wrote:
>
> 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@...> 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?
> >
> >
> >
>

__._,_.___
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

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