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Reliable broker for a rookie

  #50 (permalink)

Houston, TX
 
 
Posts: 131 since Jun 2018
Thanks: 111 given, 71 received


spoolmak View Post
Calming, I think it all depends on how you're trading. If I was day trading, and wanting to do it on my own, it would be more expensive, yes. However, I might still want the professional guidance, and Mark has been great at that. In a recent trade, he saved me easily $1000 in one day by taking action at the right time. Normally, however, with options selling, it's like 'watching paint dry', so there's no need to be watching a computer screen for 4 or 5 hours every day, and much less risk of major, sudden losses. The number of contracts that have to be executed is much lower, and as I mentioned in the last post, it's more of a sell and hold process. Between the smaller number of transactions required, and the value of getting some professional advice, the commission cost is actually the least of my concerns with the style of trading I'm doing. I'm not ever interested in being a day trader--roughly 80% of day traders end up existing the business, and most do this within a year. I'm in this for the long-term and I'd rather make a 35 or 40% ROI, but do it very reliably, than gamble on hitting it big occasionally, but losing a lot of the rest of the time. I also don't want the stress or have the time for watching price action daily, and making decisions every day. My 2 cents worth!

You're right about the difference in trading. Curious, what signals do you use for entering and existing your trades?

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