Members of Options Players generally fall into two categories:
1) those who have the time during market hours and the patience to watch the charts minute by minute
2) those who are unable to be 100% present during market hours due to other commitments, e.g., holding a full time job.
The latter group should only consider “Swing Trading” options and options strategies. Time in swing trades generally last from overnight to four weeks but often extend to eight to twelve weeks; decisions for entry/exit are made after the market is closed.
- A good charting package is required, e.g., TradingView, TC2000, TOS, etc… The instructor will use a combination of ProfitSource (by Hubb) and TradingView.
- Subscription to TomsOptionTools, an options analysis package that allows you to build spreads butterfly’s, calendars, collars, etc… and back test strategies is required. TomsOptionTools runs $79 per month after a 1 week free trial and is not included in the course fee.
- Subscription to TraderSync (https://www.tradersync.com/?ref=michaelkuhns) is highly recommended. TraderSync is a cloud based trade journal that tracks and analyzes trades. There are others out there, but this is the best of the best…