$37 per month, or less than the cost one 15-minute private session with any mentor or options teacher.
Learn to use options to reduce the risk of investing.
Learn how options work in easy to understand language.
Have questions? Get real answers, with details; no hurried or abrupt replies.
Visit the forum for Gold Members and find good discussion along with questions and answers
Gain access to an experienced trader in live GROUP sessions (at least 4 times per month). You ask, I’ll reply. Need a lengthy reply – I’ll offer an off-the-cuff seminar, if most of the attendees are interested in hearing that discussion.
It’s your membership: We work together to meet your goals. We are in the education process together.
We’ll examine a trade from entry to exit, discussing all decisions along the way. It’s a true learning experience to see how a long-time trader handles simple and complex problems. Gain insight on how you can improve your trading and risk management skills.
Become a Gold MemberYou’ve heard the hype. Now learn the truth
Know this: Making money with options is possible, not guaranteed.
You will discover whether you have what it takes to become a winner.
Options were invented as risk-reducing tools, and that’s how I believe they should be used. Reduce risk, enhance profits. That’s a winning combination.
You’ve heard that options trading is not for everyone, and it’s the truth. It’s not easy. Learning to use options involves work on your part. If you give that effort, I’ll guide you through the learning process. My writing and teaching style is easy to understand. It contains the details that help YOU understand how options work. To see samples, visit my blog: (Options for Rookies).
Do you prefer to take courses as part of a more formal education? We offer a complete Introduction to Options for Rookies on video. There is also a good iron condor course, but I’m still adding lessons (as of Oct 29, 2012)
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I’d like to join the forum
jr,
Invitation send by e-mail earlier today.
It is from ProBoards.
If you cannot find it, let me know.
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Got it thanks
Mark,
I’m responding to your email that says I should “confirm” that I want to participate in your blog and receive emails, and clicked on the link that brought me to this page.
I certainly do wish to participate and receive emails.
I’ve read your book and look forward to studying your trades and learning to make adjustments. Also how to use Interactive Brokers to enter combination trades that will give better executions than entering individual legs.
Permission Granted.
Thanks,
Tim
PS – I had some difficulty entering my credit card info when signing up, and may have signed up twice. If so, sorry for the inconvenience and hope it’s not difficult to refund the extra payment.
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Hello Timothy,
I use e-mail to notify Members of news and upcoming events. However,
I need your permission before adding your email address to the list
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Tim,
Welcome and thanks.
confirming
Which indexes do you suggest for iron condor?
Satish,
If you trade indexes, I recommend one of the three broad-based indexes becasue they are cash-settled, European style options. Those are SPX (or SPXPM), RUT, or NDX.
Those also have the tax advantage of 60% long-term capital gains and 40% short term.
I don’t know what size you plan to trade, but if those indexes represent too much size, then I recommend using the ETFs. The three that correspond to these indexes are: SPY, IWM, QQQ. These are American style options and less friendly to trade. Also be aware that SPY pays a quarterly dividend.
SPX is the least volatile of the three, but many times the trades are reported very slowly. I recommend iron condors with strikes that are 10-points apart – as a place to get started.
Has registration been disabled? After clicking “Become a gold member” I just get a page saying my shopping cart is empty. For kicks I used the ‘Return to Shop’ link and it says there are no products available in the shop.
Jason,
I’ll look into this and let you know.
Many thanks
Hi Mark
I have read your Rookie Guide and finally signed up. I look forward to learning from you.
Hannes
Just finished Rookie’$ Guide to Options and LOVED it… It’s really organized well. I am about to start going through it a second time (this time to really digest the math). Advanced Risk Management was an eyeopener. Double diagonals too.
Thanks Jim,
A couple of points: The ‘math’ in the book (the calculations in the tables, for example) is not really important on its own. The idea is for you to be able to make simple calculations.
However, Chapter 15 and the algebra is important. Understanding the concept of synthetic positions way an important role in your trading. It helps you understand your TRUE POSITION.
Chapter 20 on advanced risk management is JUST ONE EXAMPLE of what we can do. In 2012, it is no longer my primary recommended method. However, understanding the concept helps you make modifications that suit your personal needs.
I tried to join your gold members, but I got a fetal error message, so I do not think it went though. Too bad. Sound like something I would like. Please let me know if you get this fixed.
Sincerely,
Joseph Walker
Try this link: https://www.mdwoptions.com/Premium/checkout?action=add&subscription=2
Very sorry for the problem.
Mark
It appears that I am in (at last). Unable to get in to the Forum at this time, so I am attempting to ask a question here.
Mark.
I have seen you mention the well known (celebrity?) options mentor, Dan Sheridan. I believe that you called him “good.”
When I first got interested in pursuing learning options I looked at anything available.
One time on one of Sheridan’s webcasts, he gave a formula for determining standard deviation.
His formula was:
Price times IV x square root of days to expiration
divided by square root of 365.25 (which is 19.111514)
I have seen variations at times, but on so many on the option sites (there must be about 55 billion) I see little reference to this. There is no reference in either of the two Wolfinger books (Hedge Fund and Rookies) which I have read.
My real question is this. Sheridan said to use the answer to the formula as where to place the short strike.
I wish to trade verticals. Mark has a chapter on Credit Spreads in Rookies. If I have a bearish bias does Mark feel it appropriate to use this formula as a place to find the short strike for a bear call spread?
I hope that this is understood, and thanks.
Fran Sheehy
Fran, welcome to OFR
Good questions.
Look for reply as a separate blog post 10/31/2012
Thank you Mark. By your leaving the full question unanswered, I am taking it as tacit approval that this is a proper way to determine the proper short strike for a bear call credit spread?