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THE OPTIONS COURSE- Tools of the Trade

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THE OPTIONS COURSE

Tools of the Trade
Options traders today have a wide array of tools at their disposal. Thanks to the Internet and the proliferation of finance-related web sites, a great deal of information is available at no cost at all. In addition, many online brokerage firms today provide a large amount of research, information, and analytical tools to their customers. However, the abundance of tools and information can also be a double-edged sword when traders get bogged down by information overload and subsequently lose sight of the real objective of options trading—making profits.

We examine some of the tools traders use. Not all of them are necessary. Some, like stock charts, may seem essential; but a number of successful traders can even get by without those. So, when reading through this chapter, and learning about some of the featured tools of the trade, keep in mind that not all of them are absolutely necessary. Instead, think of them as shortcuts that are designed to make …