Your Questions About Stock Option Trading
Mary asks…
Hi, I’m looking to open a stock option trading account lowest minimum to open account?
Hi,
I’m look for a brokerage that would allow me to trade in basic options, such a buy either Call or Put option, which brokerage, has the lowest mininum (if any at all) to open a “stock option trading account”?
Mike answers:
You can also check the companies on this list, which have no min balance for Options Trading.
Http://www.thebest-investments.com/featured-services.php
If you already have an account trading regular stocks see if they have “options trading” available. If you’re not going to be trading a lot this would be the easiest way to go. The convenience of filing all your taxes and manage everything under one account is a time saver!
Charles asks…
Which Stock Option Trading Systems Should I Use For My First Trades?
I just learned about iron condors and double calendars but which one should I use since I am just starting out?
Mike answers:
To be successful at trading options in the stock market, you’ll need practice. The best way to get practice is through paper trading, that’s where you follow a stock and pretend you are actually putting trades in and then taking them out, hopefully for a profit.
You can also find books on the subject, like on amazon or barnes and noble. You’ll need a good foundation on the basics. There are also different strategies when it comes to trading options so you’ll need to learn those first as well.
For more advanced ways on how to trade options, there are sites that offer guidance. The advantage with these sites is that they will take you beyond the basics and offer you a better chance at higher returns on your trades.
I’ve listed some sites below that you can check out, they are for information purposes only and not a recommendation. However, you will learn a little more than what you can get from reading books.
Http://www.stockoptiontradingsystems.com
http://optionsexpress.stockoptiontradingsystems.com
http://tradeking.stockoptiontradingsystems.com
I think if you start your learning this way, you will be able to succeed in trading options. Others have done it so there’s no reason why you can’t learn how to do it too.
Hope that helps and good luck!
Paul asks…
How to use turbotax to report stock index option trading?
For index option trading, there is a 60/40 rule. 60 percent of the profit is considered long term capital gain. 40 percent is considered short term capital gain. Does anyone how to report this in turbox so that turbotax knows the 60 percent part is for long term capital gain?
Thanks.
Thanks.
BTW, I use turbotax online. How do I manually override with “long term capital gain”?
Mike answers:
Over ride the form if you think it is calculating improperly or search for “long term capital gain” within the program.
Steven asks…
How to find live stock-option trading tutor in Chicago?
Mike answers:
You should contact better trades and see if they have one coming soon. I bought the DVD’s and found them very informative — plus that way I can pause or go back to a section when I want to.
Chris asks…
Which websites evaluate on-line advisers who provide recommendations for stock and /or option trading?
Which websites evaluate/compare on-line advisers who provide recommendations for stock and /or option trading?
Mike answers:
The best site that I have found is www.pro-trading-profits.com. They evaluate hundreds of advisories with analysis of costs, value for money, performance (several different measures). They list almost all the sites that offer autotrading on thinkorswim and optionsxpress. Membership is not free, but the resource is excellent.
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