Never met Nicholas Tan but got one of his books. According to the forward he also worked in a bank. He also conducts these forex seminars.
At least you have a system that works which you can still used when you retire. No need to do drive a cab
Books on options trading - recomendations?
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Never met Nicholas Tan but got one of his books. According to the forward he also worked in a bank. He also conducts these forex seminars.
At least you have a system that works which you can still used when you retire. No need to do drive a cab
For a start, read Cohen's Opitons Made Easy, loanable from yr local lib. There's a strategy for that too, to cover against sudden up and down moves. Of cos, the corollary is that if the mkt stays still or moves only a bit up or down by expiry time, then you lose what you paid for the option.
Naturally, you can also buy another option to cover when the mkt doesnt move at all, but if you keep doing that, you will be buying more and more options which in the end yr margins get eaten away. So all trading in the mkt is a gamble. TA or fundam analysis can help but in the end it's yr judgement call. Often it's a gut feel.
If you know which way the mkt will swing in a big way, just buy a simple call or put option near to the price which is trading and over a well-timed expiry date, and you can make a pile. Good luck!
Naturally, you can also buy another option to cover when the mkt doesnt move at all, but if you keep doing that, you will be buying more and more options which in the end yr margins get eaten away. So all trading in the mkt is a gamble. TA or fundam analysis can help but in the end it's yr judgement call. Often it's a gut feel.
If you know which way the mkt will swing in a big way, just buy a simple call or put option near to the price which is trading and over a well-timed expiry date, and you can make a pile. Good luck!
In today's market you can have a large swings in one day
I don't know what "iron condor" is but if it'll help avoid losing money, I'm willing to become a "kiasu" trader :o
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Going to be fighting with the students for a seat at the NLB
Might as well enjoy the comfort of the library's aircon.
I've been watching CNBC's daily segment on options trading but don't really understand what they are talking about
and CNBC is for the home mom & pop investor
Don't know if I'll ever be comfortable with options to use it but at least I'll be able to understand it.No prob if yuo are just starting. Like me, I first read those books, then got on to a website that allowed me to open a free trial account just to do paper trades. No money is involved. The free acct gives you a certain amount to kick off. The scenario is a realistic mirror but it is not the live market, so no real money is lost. You get all the tools and risk profile analysis for every stratgey you select. Supplement these with free online seminars and BANG! off the blocks you go!
Google to CBOE and open a virtual/paper trade free 3 mths acct with option to extend.
Google to CBOE and open a virtual/paper trade free 3 mths acct with option to extend.
Going to be fighting with the students for a seat at the NLB
Might as well enjoy the comfort of the library's aircon.
I've been watching CNBC's daily segment on options trading but don't really understand what they are talking about
and CNBC is for the home mom & pop investor
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I remember last time(20+ years ago) options was only available to big time investors, the same was true if you wanted to invest in US markets. According to my broker who specialises in US markets, MAS was making it difficult for small investors to invest in the US. Maybe they wanted to encourage people to invest their $$$ in CLOB & the mutual funds being offered by local banks
With the demise of CLOB, I suspect it opened up opportunities for small time investors
Other than Etrade, Sporeans can take a look at ThinkorSwim which is a subsidiary of TD Ameritrade. In 2011 Thinkorswim got approval from MAS to accept Spore clients.
I have 2 accounts with Etrade, my own & the one opened by my employer for share options & employee purchase shares.
I don't know if Etrade or ThinkorSwim offers simulated trading accounts? I'm sure they provide alot of free info but I think books are better especially since they target specific needs.
I've already checked with the library & found some books that are interesting. I'll have to become a member of the NLB to borrow these books. At least membership is free for citizens
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I've already checked with the library & found some books that are interesting. I'll have to become a member of the NLB to borrow these books. At least membership is free for citizens
For citizens, membership is not only free but also automatic, don't need to apply. The pink IC is the membership card. I'm not too sure about PR blue IC though.
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It might help with learning & understanding of options, but not with the platform of a broker.
With so many brokers out there Etrade, ThinkorSwim, Interactive Brokers, Tradestation,... I was going to ask which broker is better
However I'm at the newby stage so I don't know what makes a good broker. When I'm further along in my project, I'll ask this questionThat's what I thought but when I tried swipping my IC it didn't work:o
When I went to the desk I was told I had to join. I was in a hurry so I'll be "joining" another day.
The basic membership is free for citizens, while PRs have to pay a small fee for a basic membership.
Citizens/PRs have to pay if they want to become advanced members. I believe you can take more books and multimedia materials(DVDS, CDs, etc)
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Mmm...funny...oh I think I know why now. Should be that those with old card membership auto-updated to IC barcode membership. Those without old card membership must apply.
Very chimm, no wonder I see so few "old" members borrowing books.
Some of the NTUC outlets even have automatic self-checking cashiers without any human cashiers. Never mind that NTUC is suppose to be a pro-worker organisation. NTUC is suppose to be non-profit organisation, one has to wonder where the $$$ for these expensive experiments come from
I thought you were going to learn and then trade yrself?
Why you need broker? What you need - after learning the basics - is just a trading acct with a broker. Then trade online yrself.
Why you need broker? What you need - after learning the basics - is just a trading acct with a broker. Then trade online yrself.
It might help with learning & understanding of options, but not with the platform of a broker.
With so many brokers out there Etrade, ThinkorSwim, Interactive Brokers, Tradestation,... I was going to ask which broker is better
I was referring to the features of the various trading platforms that the various brokerage houses offer when you have a trading account.
For example Interactive Broker boasts that you can trade option, shares, forex, etc from their platform. Must be complicated to use with so many options? Heard that they offer 1 free wire transfers per month for active traders, which would be cheaper if you need to wire profits to Spore.
Tradestation has powerful graphics with it's own programming language. Can be useful to customise various indicators on your charts if your using technical analysis. Even on Etrade there's the basic trading platform or their more powerful one which provides more features.
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Try optionsxpress.
Why do you recommend optionsxpress
Has it got an easy to use interface, good charts, cheaper costs, ....
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Why do you recommend optionsxpress
Has it got an easy to use interface, good charts, cheaper costs, ....
Heard Fren say is the best for optionsn trusted ..:o
Low com. N certified by Singapore ...something like that...
Options too complicated for me.. :o
OptionXpress URL is here:
http://www.optionsxpress.com.sg/?cmpid=gssg21141119p&ef_id=1d9OBB7c4BUAAIXr:20110822040626:s
Have to agree that there is a steep curve in learning about options. The same can be said with doing anything worthwhile.
However Sporeans are not dumb, had colleagues who went to night school to get their MBAs because they thought it would help secure better pay.
Personally I think learning about options is more valuable because "if" you understand it, you'll be one of the few with a useful skill. If you know how to apply you can make $$ & in Spore that's very important.
Talked to the librarian & confirmed you have to register 1st at the counter before you can start borrowing. Simply show your IC. For citizens the basic membership is free while for PRs there's a one time registration fee of $10.50.
Johnny333,
Optionxpress is a good starting pt. Why look for broker accts now when you have not even started. Anyway, selecting one is based on commissions they charged, some by amts, some by transacts, etc. But there's one thing you have to concern yrself with: taxes. because you are dealing with U.S. equities and gains are taxed. read abt yr liabilities.
Options are not difficult to learn. Hve you traded in warrants before? It's similar but options are better because you can short safely. No need to buy back to close.
Optionxpress is a good starting pt. Why look for broker accts now when you have not even started. Anyway, selecting one is based on commissions they charged, some by amts, some by transacts, etc. But there's one thing you have to concern yrself with: taxes. because you are dealing with U.S. equities and gains are taxed. read abt yr liabilities.
Options are not difficult to learn. Hve you traded in warrants before? It's similar but options are better because you can short safely. No need to buy back to close.
Your are right that it's premature looking for an options broker until I know more about what options is about.
However if other forumers want to include their opinion about good brokers, I'm not going to complain because there may be others who may be looking for one
I hold US shares in my Etrade account & since I'm not a US resident, I don't 't have to pay any US taxes. Same thing with forex which I'm trading using US brokers. Don't know about the options but suspect the same rules apply. What I know is that foreigners are not allowed to buy US mutual funds(unit trusts) because of the taxes implications.
I have zero knowledge about warrants or options. :o I'm an old fashion investor, have only bought shares and unit trusts using cash, and held them for years. If anyone still has $$ invested in unit trusts, I recommend they get out :(
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