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Futures Algo trading vs Option trading (SteadyOptions style?)


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Futures Algo trading vs Option trading (SteadyOptions style?)

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  #1 (permalink)
pum267
Florida, Miami
 
 
Posts: 4 since Oct 2021
Thanks: 4 given, 2 received

Hello,

I have plenty of time on my hand and want to get into either Algo trading with futures or Options trading SteadyOptions style, what would you recommend and what questions should I ask myself to help me decide?

Thanks!

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  #2 (permalink)
Symple
Zuerich / Switzerland
 
 
Posts: 556 since Sep 2021
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pum267 View Post
Hello,

I have plenty of time on my hand and want to get into either Algo trading with futures or Options trading SteadyOptions style, what would you recommend and what questions should I ask myself to help me decide?

Thanks!

@pum267

Well, that's one of the question like the one at the roulette table: Do I take green or red or what do I do?

Fun beside: In order to answer, from who ever, such a question only somewhat meaningfully in your sense, it needs some more information about your person, even personality and about your previous knowledge that you bring with you. This can also be knowledge from your professional life, especially when it comes to mathematics, programming or analyzing things. Such knowledge is even helpful when it comes to abstract thinking or to be able to plan strategies on any used matrix.

Symple

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  #3 (permalink)
pum267
Florida, Miami
 
 
Posts: 4 since Oct 2021
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Symple View Post
@pum267

Well, that's one of the question like the one at the roulette table: Do I take green or red or what do I do?

Fun beside: In order to answer, from who ever, such a question only somewhat meaningfully in your sense, it needs some more information about your person, even personality and about your previous knowledge that you bring with you. This can also be knowledge from your professional life, especially when it comes to mathematics, programming or analyzing things. Such knowledge is even helpful when it comes to abstract thinking or to be able to plan strategies on any used matrix.

Symple

Hey,

Thank you for the response!

I do have coding knowledge and I do have a background in IT, UI/UX design prior to starting my local business. I know you must be thinking why the two comparisons, I am asking this question because I have a few businesses that I run and wanted to invest some of the money made into education and the market, I won't be investing much money at first, but a little to start and test my skills. I know trading is not the easiest way to make money.

If I was to go the Algo trading route I will be trading futures, I have a few education content/courses, that I will be using in conjunction with this forum, if I was to go the options route, I will be the steady options forum and content.

I just don't want to do into Algo futures trading or options and then regret it. I want to invest my time wisely in something that will be worth it in the long term, NOT just a quick buck.

Thanks

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  #4 (permalink)
Symple
Zuerich / Switzerland
 
 
Posts: 556 since Sep 2021
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@pum267

If it were up to me and from what I've read here now from you, I would say that you could very likely find your home in Algo Trading, especially with your experience in IT and UI/UX design.

I come from the other area you mentioned and these are options. You mention "Steady Options."

You might want to take a look at the book: "The Bible of options strategies" by "Guy Cohen". There you will notice very quickly what you are getting into and how far this may be compatible with your already existing skills and knowledge.

To go one step further, since this what you see there in the book, as well as in the Youtoube videos only the basis is before the curtain, then you may also be interested in the next level in the business. Therefore, here is another book tip under the title: "Options Trading, the hidden reality" from Charles M. Cottle.

To give you a visual insight, I'll show you just as an example how to plan your trades on a matrix, without going into detail, because you have addressed "Steady Options" and what you will see in the screen shots, even without details, how it happens and it planed behind the curtain.





If you want to trade options, you are probably better served if you are interested in simple buying "puts" and "calls" for the first time and less for the more complex option strategies. By simply buying options you have the opportunity to make your first experience in the market with small value "OTM" options. Small tip: Calls rather close to the market and Puts can also be further away from the market, because the market usually falls faster than it still goes up. If you do not like this idea, then you best concentrate on pure "Put and Call credit or debit spreads" as the risk is low.

So, this is my "2 cents" on the subject and also to give you a certain, realistic look at what you want to get involved in, especially when it comes to "Steady Option" strategies. Other surely will jump in with more, specific comments.

Now I wish you all the best and good luck with your decision, in whatever direction it goes.

Symple

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  #5 (permalink)
 kevinkdog   is a Vendor
 
 
Posts: 3,324 since Jul 2012
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Why does it have to be "either/or" - why can't you pursue both at first?

The 2 alternatives seem to be completely different things: one is "just follow our signals" and the other is "do it yourself" - which one suits you more?

With the options service, once you do your due diligence (are those performance numbers real? Is the November 20 "closing the doors" real?), maybe sign up for a month and see how well you can duplicate the trades in your own account (options are notorious for showing prices you can't actually get filled at, making many results bogus).

With the algo trading route, make sure you are learning from someone who actually trades. There are a ton of cheap courses on udemy and coursera which are created by people who do not even trade!

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  #6 (permalink)
pum267
Florida, Miami
 
 
Posts: 4 since Oct 2021
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Symple View Post
@pum267

Well, that's one of the question like the one at the roulette table: Do I take green or red or what do I do?

Fun beside: In order to answer, from who ever, such a question only somewhat meaningfully in your sense, it needs some more information about your person, even personality and about your previous knowledge that you bring with you. This can also be knowledge from your professional life, especially when it comes to mathematics, programming or analyzing things. Such knowledge is even helpful when it comes to abstract thinking or to be able to plan strategies on any used matrix.

Symple


kevinkdog View Post
Why does it have to be "either/or" - why can't you pursue both at first?

The 2 alternatives seem to be completely different things: one is "just follow our signals" and the other is "do it yourself" - which one suits you more?

With the options service, once you do your due diligence (are those performance numbers real? Is the November 20 "closing the doors" real?), maybe sign up for a month and see how well you can duplicate the trades in your own account (options are notorious for showing prices you can't actually get filled at, making many results bogus).

With the algo trading route, make sure you are learning from someone who actually trades. There are a ton of cheap courses on udemy and coursera which are created by people who do not even trade!

Hey,

Thank you for the response!

Steady Options is by no way following my signals. He teaches you how to fish and does not want to just follow signals.

I did a free trial and think it's great.

As for Algo trading, I have more than enough content for free and some paid stuff too, I am not a fan of Udemy or Coursera, I plan to get a few paid stuff from people I've done my due diligence on.

I have read into both and I am leaning towards Algo trading.

Thanks!

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  #7 (permalink)
 kevinkdog   is a Vendor
 
 
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pum267 View Post
Hey,

Thank you for the response!

Steady Options is by no way following my signals. He teaches you how to fish and does not want to just follow signals.

I did a free trial and think it's great.

As for Algo trading, I have more than enough content for free and some paid stuff too, I am not a fan of Udemy or Coursera, I plan to get a few paid stuff from people I've done my due diligence on.

I have read into both and I am leaning towards Algo trading.

Thanks!

Awesome! Sounds like you have it all figured out.

Good Luck to you!!!

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  #8 (permalink)
 bobwest 
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Sarasota FL
 
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pum267 View Post
Hello,

I have plenty of time on my hand and want to get into either Algo trading with futures or Options trading SteadyOptions style, what would you recommend and what questions should I ask myself to help me decide?


Symple View Post
So, this is my "2 cents" on the subject and also to give you a certain, realistic look at what you want to get involved in, especially when it comes to "Steady Option" strategies.

I believe that the "SteadyOptions style" referred to has to do with a particular website, https://steadyoptions.com/ , which is an options advisory service.

Is this correct, @pum267? Since not many people trade options on this forum, the service referred to may not be very well-known here, and you may not get much feedback directly related to them.

Algo trading with futures is another matter. You may need to look around some and ask more specific questions, but there is a lot of this being done.

Good luck. Hope you find what you need.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #9 (permalink)
Symple
Zuerich / Switzerland
 
 
Posts: 556 since Sep 2021
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@bobwest

You may missed this part of the mentioned page: https://steadyoptions.com/so/

And then we are back about what my posting was about.

Symple

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  #10 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
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Symple View Post
@bobwest

You may missed this part of the mentioned page: https://steadyoptions.com/so/

And then we are back about what my posting was about.

Symple

@Symple, thanks, you're right.

By the way, I am glad that you have the knowledge of options that you do. It helps to fill in gaps in the more futures-oriented coverage of topics on the forum.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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