Any choices traders here? Want to discuss trading choices? Not sure if this thread will go anyplace. If I loe even one trader inforexsoutheast.asiawho wants to share some decent options trading thoughts, then I'll be happy.
I am not a very complied choices trader - been trading choices m/l full time for just the last year or so. I am basically a newcomer, but I make money. Being a greenhorn, I am not out to be the guru of anybody. And I am not searching for you. I enjoy learning by doing.
I don't want to spend much time talking options in general, for example, what is an option? Why trade choices? Etc - but I'll find those topics from the way in this first post. There was another thread about options trading aboutforexsoutheast.asiaawhile back and trader laid out some excellent ideas for novices - worth a look if this is you:
https://www.forexsoutheast.asia/gene...ing-forex.html
Also, if you are relatively new to options trading I highly recommend you get about the CBOE site and use the free instruction and trading tools that are there:
http://www.cboe.com/
Some great books to begin with:
So, wait, dude, this is a forex website, why are you talking about choices?
Well, of course it's possible to trade options on whatever - stocks, FX, metals, indices, financials, ags - virtually anything that trades on the futures and stock exchanges. And, as our friend was able to say It is all 1 trade.
So that's 1 thing I enjoy about trading choices: there is lots of selection available to you if you need or want it. If you are into intermarket analysis as I am, you can find good trades. But the primary reasons I have gotten m/l an options trader would be these:
1) Risk Control: Generally talking, and for me personally anyway, trading choices has compelled me to reside within defined risk parameters for every trade. I never have uncontrolled transactions anymore. I get my ass handed to me personally, and no doubt, but it's on my terms.
2) Tax functions: I trade options from several accounts. Brokerage accounts and IRA accounts. I am at daytrading degree ($25k) on a single account and building towards there on the others. What I really like is the idea of trading from the Roth IRA accounts, where all of profits are tax-free. I could not trade place fx but choices trading is permitted. This is, although there are methods to beat the taxman. So my focus is on building these Roth accounts.
OK, so enough generalities by way of introduction. If you are doing some options trading, I'd like to hear what it is you are taking a look at.