There are a number of option trading courses being marketed by various entrepreneurs these days. Many of them would like you to believe that they are the answer to all your financial hopes and dreams. They speak of achieving financial independence, of giving up your day job and making more money working from home. It all sounds so good.
In the end, the option trading courses you decide upon, should fit the type of risk profile and trading style that goes with your personality. Do you want to be a day trader, watching the market constantly? Or is your style more of a 'set and forget' one, possibly because you love your career and are only looking for a second income stream?
This is the first decision you have to make before you proceed any further.
Once you've done that, you might like to peruse our reviews of the essential features of some option trading courses below - then decide which one best suits your trading style and price range.
1. Short Term Trading - Predicting Direction
In this category I would place Australian super-trader Kim Reilly. His methods and associated software recommendations are tailored to the Australian market but what he teaches you can be applied to any stock market in the world, including of course, the USA.
As far as options trading courses go, Kim Reilly focusses on short term 'technical analysis' of stock charts with a view to identifying short term breakouts in line with the overall trend. His strategy does not involve spreads or other advanced option trading strategies, but simply relies on 'going long' call or put options, as the case may be, and taking a profit within a few days. It is a well rounded system but one which requires your full attention and live trading charts. Decisions are made during the last 30 minutes of each trading day, when "the professionals" (fund managers etc.) enter the market.
A separate review of Kim Reilly and his option trading courses can be found on a separate page.
2. Monthly Trading Focus with Weekly Position Monitoring
This brings us to the next option trading course - trading credit spreads using the strategies taught by Planet Wealth. This course will teach you all you need to know about identifying the right opportunities for credit spread trading, the many advantages of this strategy, including how you can adjust your positions in the event of the underlying stock making a price move against you. They teach you what to look for to decide if you need to adjust your positions.
The idea is that, once the credit spread is established, you simply rely on the time decay inherent in options, to work to your advantage. You have a 4 out of 5 chance of a successful trade and if you add to this your own stock analysis, the odds for success are very much in your favour.
The Planet Wealth option trading courses are more suited to people who don't want to be watching the market every day and prefer to take a more passive role in their trading style.
3. Profiting by Adjusting Your Positions
This last one is a little different from the others. It focusses on how to structure more advanced option positions and adjust them if necessary as you see the market changing, so that you will continually remain in a profitable price zone until the option contracts expire.
This is a different approach to option trading, but the vendors
claim it is portfolio focussed and treating option trading as a
business. The Options Income System is excellent if you're looking to further your education as well as learn a system that produces consistent monthly profits.
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