The Option Club

The Option Club is another great resource and thats what my website is all about providing you with some of the best resources available and The Option Club is definitely a “best” resource. It is owed and operated since 2003 by Chris Smith, a lawyer (I know eeeww, but he is a good guy from what I have read)

It provides a free mincourse, lots of resources, a blog on trading the SPX, and a yahoo group

The yahoo group has over 1500 members and is a very active group. It consists of many individual traders many of them professional. the topics can be a little over the head for new options traders but the advice is sound.

The blog is very well done (almost as good as this one…LOL). It mostly has posts on trading the SPX using Credit Spreads and Iron Condors (my favorite ways to trade), but there is some valuable information such as on the topic of volatility which I am going to discuss in the near future, but heres Chris’ post on the subject - Implied Volatility Chart Training Video

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How to Trade Conservative Credit Spreads

It is finally completed - How to Trade Conservative Credit Spreads ebook is finished and for sale.

I have been negligent in posting lately because I have been focusing on completing my new website - Conservative Options

Here you will find two new ebooks -

Six Steps in Taking the Risk Out of Stock Option Trading - a beginners book for how to start trading options - the resources, the educational websites, what brokers to use, etc. etc. It has information about what you need to be comfortable trading options, i.e. Knowledge and Experience and where to get those items. This book is FREE!

or

How To Trade Conservative Credit Spreads (click on the “How to…” button in the menu)- a step by step guide on how I trade credit spreads. It shows you what tools I use, what technical analysis I use, and it includes a step by step trade using all the tools and analysis. I am selling this ebook for less than $20. Reason is that I would like to make education available for everyone, which is why I give my stuff away. I enjoy teaching. Could I sell this book for more? Probably, most option trading ebooks are going for $50 even for the unknowns. If they are well known, forget about it, you are looking at over $100 to $1000 for some of their ebooks and courses. For me I would like to focus on the beginners, people that are not quite sure if they really want to try options.

So go on and check out the new site. Leave me some feedback here in the comments on what you like and what you would change. Thanks.

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Off to a good start - Rules for the game

Here is another blog that seems to be off to a good start.

Business of Trading

He starts off by giving a good synopsis of 40 rules for staying in the game of professional trading. I do agree with the majority of these rules.

However a couple of rules like #2 and #28 are entirely too negative. If you look for negativity you are going to find it. Now when trading don’t ignore the obvious but I would not go looking right away that I was wrong - too negative for me.

#12 Does not apply to longer term trades like credit spreads. In fact the majority of the time it really does not matter when you trade. Day traders make plenty of money during the choppy period…then again many day traders lose money during the choppy period too!

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Getting edgy on stocks!

OK this is not another post about how the Bear is coming…

Nope this is about a new popular videocast with a beautiful young lady named Lindsay Campbell. She has an edgy show she does once a day on the stocks - as she says it is where stock culture meets pop culture! They are very funny and sometimes very insightful. Can give you ideas on certain stocks and the news about them.

Today’s show on Altria (MO) is down right hilarious!

I am going to have to find some space somewhere on this page to put a permanent link up.

Check it out here…

Visit Wallstrip

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