I want to start options trading, which is the best way to learn,where should I start,calls/puts to make fast m

Question

I am a beginner with little money to pay fall tuition. I need to make money fast to pay my fees. So whats the best method to trade and make fast money. I have no knowledge abt options, but have great passion to learn in detail and trade. what will be the best way to learn

Answer 1

Would you buy a airplane and try to fly it,

Why would you jump into something you know nothing about and try to do it.  

Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself

Here are some website that may help you, BUT only a fool would jump into something with their money and not know where their going.

http://www.schaeffer.com/

http://www.zacks.com/

http://www.options-trading-advice.info/

Answer 2

If you are thinking of "fast money",  then options are NOT what you want.

Options are leverage vehicles, which means you can lose many times your investment -  way more than you put in ( if you sell options )   If you confine yourself to buying options, then your max loss is the entire investment, but not more than that.

If you really want to be successful, take plenty of time to learn all about it;  the previous answers give good websites from which to gather material.

Then do some "virtual" trading on paper, to get the feel of it before you use real money.

Answer 3

Be careful because options trading is not a way to make fast money unless you have a knowledge of the markets. You can make a lot of money in options but you can lose a lot of money in options. if you are looking at making fast money it might be easier to go to the casino. The way the market is right now, it is a good time to make money because of the volatility but you need to know what you are doing because you can lose your shorts.

Answer 4

There are two excellent web sites for learning the basics of options.

http://www.cboe.com/LearnCenter/default....

and

http://www.optionseducation.org/

Both are sponsered by the option industry and contain free, accurate, spamless educational material.

After getting what you can from those two sites, I recommend reading at least one good book about options. Any of the books at

http://www.cboe.com/Institutional/Biblio...

contain quality material, but will only be good for you if they are written in a style that you can follow and comprehend. My favoirtes are

McMillan, Lawrence G.: Options as a Strategic Investment, Fourth Edition. The grand-daddy of options books. The complete treatment from intermediate level to advanced.

Natenberg, Sheldon: Option Volatility and Pricing, Revised Edition, Burr Ridge, Illinois,  Extensive treatment of volatility and advanced strategies as they pertain to commodity options.

I suggest you go to a large library, a large bookstore and/or amazon.com to scan multiple books and choose the ones you find most appropirate for yourself.

I will mention one other book that just came out this year, The Rookies Guide to Options by Mark Wolfinger, because the author contributes to the message board at

http://messages.yahoo.com/Business_%26_F...

under the name "dagnyt". Although I have not read any of his books, I will recommend his work based upon his contributions to that message board. (Be careful when reading that board. There is at least one individual who like to use names similar to those of regular contributers. Do not confuse "dagnyty" with "dagnyt" or "zman493" with "zman492".) In any case, it gives you a chance to ask the author questions directly if you believe that would be valuable. You can learn more about Mark Wolfinger and his books at his site

http://www.mdwoptions.com/

I would also recomend several months of paper trading before risking real money.

If you do not understand options now I recommend you find some other method for raising funds before the next school year starts.

Answer 5

Totally a bad idea.  You will surely lose what money you now have.  You are up against seasoned professionals.  Remember the old saying, " when a person with money meets a person with experience, the person with money comes away with experience and the person with experience comes away with the money."

Answer 6

http://www.options-university