Hey guys, that "3 Gurus" webinar from a few weeks ago is archived until 12-31 in case you're interested. Below is the link. I'm going to spend a few hours on it tonight so as of right now I have no idea what it's like. Just thought I would share.
ID: fredpatek
Wow, you guys should definitely try some of these archived sessions. This is well worth $99 and the time investment. I just watched the first one on ratio spreads and have several trading ideas. This is absolutely something I am going to use in the simulation account and try to learn as I go forward. I learned all the different option strategies at some point from a textbook, but using real world examples and showing you different scenarios brought this thing home for me and it makes a hell of a lot more sense now than just knowing the basics risk/reward relationship of each strategy.
ReplyDeleteThere are 18 videos/subjects that are each roughly 60 minutes in length. You can download the power point slides for each but I haven't figured out how/if you can save the audio. I'm going to call CBOE on Monday and find out. I'm very excited about this. The videos look to be great introductory lessons for the intermediate options trader, which is where I consider myself to be. This is going to provide lots of ideas for that 5-10% of the portfolio that I'd like to use for high risk speculation.
Knowing all the different strategies, the basic risk/reward trade-off, and when to best implement each one is very powerful because having all that in your arsenal allows you to make money whether we are in a bear, bull, neutral, high or low volatility markets. All that is really required is understanding what market you have and then employing a strategy to profit from it.
Remembering the risk/reward trade-off and when to best use bull call spreads paid off huge for me last March. I would love to have a basic knowledge of more strategies so I can find a way to make money in any situation. I hope you guys have some time and the interest to experience some of these videos because I would love to bounce some ideas off each other in the near future.
Hey Jason, I don't see videos only pdf files & audio links. Am i missing something. thanX for sharing.
ReplyDeleteI will try to find some time to check out those videos between now and December 31st. You mentioned that you are not sure if you could record the audio. If you use the Camtasia program that I saved in the drop box you can record the presentation and if you have a microphone and speakers with the microphone on while you are watching the presentation Camtasia will all record the audio.
ReplyDeleteWell I downloaded all of the presentations. So at least I can read those if I do not find the time between now and the end of the year.
ReplyDeleteThanks Jason.
So I finished those CBOE archived webinars on 12/31 before the cutoff deadline. But as of today they are still available so who knows if they will cut them off or not. To date I felt this was one of the most informational things I've spent money on. It opened my eyes to some trading tools, books, newsletters, and trading groups that are out there. As part of my daily regime I've set aside 3 hours a day for options education and portfolio management. I just want to pass along some of the things I found that were worth while.
ReplyDeleteOne of them is just a change in stance for me. I've historically never wanted to pay for advice or training or people's stock picks, etc. But I'm acknowledging to myself that my involvement with trading options was pretty basic. I wouldn't really even say what I did was trading. I basically sold covered calls for years. Occasionally I would buy them back on a market dip and then sell again, but that's really the only thing associated with trading that I could say I was doing until about a year ago. To increase my knowledge and actually trade options, I've got a lot of work to do.
I now think it seems silly to not enlist the help of anybody who can be of benefit. This forum has already been a big benefit to me. Had Dom not introduced me to the trading tools that OptionsMonster has, I would have been introducing them to you right about now. One of the sponsors of the webinar was OptionsMonster so after each presentation somebody from their company would take control of the screen and show you how their software and trading tools worked compared to whatever subject we just heard about. I saw Dom's post about signing up for a free account to get access to their trading tools and I will be doing that shortly. I haven't even spent the time on IB's webinars yet so I have no idea if they have similar tools or not. The fees at OptionMonster are prohibitive to me but if they want to give us access to their tools than I'll take it.
There is a website I think you guys should check out called http://www.hamzeianalytics.com/ This guy has some proprietary timing indicators that are valuable trading tools. CBOE is in discussions with him but they want to pay him a one-time flat fee and he wants an ongoing royalty instead because he knows the value of the tools. He has frequent free webinars. I attended one last night and I think this is one guy's service I will subscribe to down the road. I'm tentatively trying to decide on either setting a monthly budget for tools, newsletters, education material, etc, or whether I just take everything on a case by case basis and make a decision based on whether I think it will help me make money.
In general I've never really felt that I could manage my own account full time for a living. There has just been too many ups and downs to ever get that comfortable, unless I got the capital level up to a really decent number. But now I'm changing my mind a bit, partly because I feel like the odds of finding a formal employment situation are not that great. Also, my long-term plan has always been to amass enough capital and knowledge to eventually be self-employed and/or retired early managing my own account. Since that is my long-term goal, I'm now ready to set out to achieve it.
Ideally I'd like to be formally employed in the investment industry and get paid while I acquire that knowledge, but like I mentioned a few weeks ago, with the technology advances and decrease in fees, all you really need is the knowledge and the capital. I feel I've got a little of both, and as one grows so should the other. So I'll keep you updated on what I find along the way as I follow up on some of the CBOE webinar information.
Sorry for the long blog.
I think that we have all been there. It is sometimes difficult to buckle down and pay for information. But the truth of the matter is a lot of the traders out there that we are competing with have lots of capital invested in them so that they can enter the market with a solid knowledge base that will hopefully make them and the indvidual money.
ReplyDeleteThe hard reality in trading is that you can not learn a lot of it in school. You actually have to read books on your own, seek out help from industry professionals (usually through paid services).
You just need to do your homework and use your own common sense and judgement when paying for tools or services. It is very easy to be suckered in to the holy grail of trading. That is when you have to realize that if it sounds to good to be true, IT IS...But I do think that there are some very valuable sources out there.
I am really excited to see how this subscription to IWO turns out for us.