Option Trading For Rookies Make And Manage Profitable Option Trades

Part 3: Learn to make and manage profitable trades, find stocks to trade, use correct position sizing, liquidity & more

Last updated 2022-01-10 | 4.9

- Confidently make trades
- Manage trades for Maximum POP and Profit
- Understand the basic concepts of how options work

What you'll learn

Confidently make trades
Manage trades for Maximum POP and Profit
Understand the basic concepts of how options work
Get a refresher of basic option trading strategies using volatility
probability of profit
and other essential option trading elements
Create and analyze a checklist of key option elements to help you maximize your profitability while keeping your risks small
Learn to create watch lists following specific criteria
Understand the correct option position size when buying and/or selling verticals
Learn how to widen the strike depending on the option strategy you decide to use
Learn when to choose market direction over option expiration
Learn and understand how to manage your winning trades and maximize your profits
Learn and understand how to control your losing trades and minimize your risks
Understand and apply the importance of diversification

* Requirements

* Everyone is welcome
* Desire to learn
* Pen and paper for taking notes
* Basic understanding of how to buy and sell options (including vertical options and iron condors)
* Nothing else is needed
* everything you need to learn to how to make and manage option trades is included in the course

Description

  • Confidently make trades
  • Manage trades for Maximum POP and Profit
  • Understand the basic concepts of how options work
  • Get a refresher of basic option trading strategies using volatility, probability of profit, and other essential option trading elements
  • Create and analyze a checklist of key option elements to help you maximize your profitability while keeping your risks small
  • Learn to create watch lists following specific criteria
  • Understand the correct option position size when buying and/or selling verticals
  • Learn how to widen the strike depending on the option strategy you decide to use
  • Learn when to choose market direction over option expiration
  • Learn and understand how to manage your winning trades and maximize your profits
  • Learn and understand how to control your losing trades and minimize your risks
  • Understand and apply the importance of diversification

Course content

9 sections • 64 lectures

Course Introduction Preview 01:16

Risk Disclaimer Preview 00:17

Software Update Preview 01:19

You are Important Preview 01:29

"Understand Options Completely" Course Recap Preview 02:19

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical Strategies"

Option Trading for Rookies: Understand Options Completely Preview 00:35

"Vertical Option Strategies" Course Recap Preview 01:00

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical Strategies"

"Vertical Option Strategies" Course Recap: Selling Call Verticals Preview 02:36

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical Strategies"

"Vertical Option Strategies" Course Recap: Buying Call Verticals Preview 02:24

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical Strategies"

"Vertical Option Strategies" Course Recap: POPs for Buying vs. Selling Preview 02:20

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical Strategies"

"Vertical Option Strategies" Course Recap: Learning to Trade Verticals Preview 00:56

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical
Strategies"

"Vertical Option Strategies" Course Recap: Option Pricing Preview 03:02

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical Strategies"

"Vertical Option Strategies" Course Recap: Volatility Preview 03:15

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical Strategies"

"Vertical Option Strategies" Course Recap: Trading Rule #2 Preview 01:57

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical
Strategies"

"Vertical Option Strategies" Course Recap: Trading Rule #3 Preview 02:25

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical
Strategies"

"Vertical Option Strategies" Course Recap Preview 02:06

Recap from prior courses, "Option Trading for Rookies:  Understand Options Completely" and "Option Trading for Rookies: Trading Vertical Strategies"

Recap of "Understanding Options" and "Vertical Strategies"

A quick recap quiz of the prior two "Option Trading for Rookies" courses.  "Understand Options Completely" and "Trading Vertical Strategies"

Option Trading for Rookies: Trading Vertical Strategies Preview 00:35

Let's Start Trading Preview 02:13

What is Fundamental Analysis Preview 00:59

Defined and explained

What is Technical Analysis Preview 01:29

Defined and explained

What are the Greeks Preview 01:23

Defined and explained

Making a Trade: The Checklist Preview 00:27

The complete checklist for making a trade.  Each point will be explained in detail as we move forward.

Step 1: How to Create a List of Tradable Stocks Preview 02:03

Step 2: Checking Liquidity Preview 01:28

The first and most important step in making your watchlist of tradable stocks

Step 2: Checking Liquidity Continued Preview 01:06

The first and most important step in making your watchlist of tradable stocks

Step 3a: Watch List Creation Preview 01:02

Using the Dough (which is now called "Tastyworks") Trading Platform for watchlists

Step 3b: Checking for Earnings Preview 03:50

Before we make a trade, we need to check for possible Earnings

Step 4: Checking Implied Volatility Preview 02:33

The most important step in actually making a trade

Step 5: Think like Warren Buffet Preview 04:04

Why wouldn't you want to do the same thing as the most successful investor of all time?

Making a Trade: Recap of Five Steps Preview 01:07

Print it up and put it on your wall

Making a Trade

Making Trades, our Checklist

Rule No. 1: Trade Small Preview 01:39

The key rule in being able to trade for a lifetime 

Understanding The "Drawdown Effect" Preview 03:04

How much do I have to make back to get even?!

Position Sizing Rules Preview 01:45

So how do I trade small?  Here's how you do it

Position Sizing: Selling Verticals Preview 02:27

Higher POP, Higher Risk

Position Sizing: Buying Verticals Preview 01:33

Lower POP, Lower Risk

Position Sizing: Widening the Strikes Preview 04:33

Taking more risk without Buying/Selling more options?  Show me how

Position Sizing: Widening the Strikes Comparison Preview 02:47

Taking more risk without Buying/Selling more options?  Here's how you do it

Position Sizing: Real Trading Platform Example Preview 01:17

Here's how you widen the strikes in a real trading environment

Position Sizing: Widening the Strikes Comparison #2 Preview 03:11

Here's how you choose how wide to go

Managing Trades - Trade Small

Rule No. 1

Rule No. 2: Trade Often: The Law of Large Numbers Preview 02:53

We trade more because it helps us?

The Law of Large Numbers Explained Preview 02:26

This is exactly why Vegas always wins 

Wealth Creation Is All About Discipline Preview 02:20

The only way to consistently make money in the stock market is discipline.  Lose it, and you lose you money

Rule No. 3: Duration Over Direction Preview 01:20

Since you can never be 100% sure of the direction a stock price will take, why not give yourself time to be right

Duration over Direction Illustrated Preview 03:04

Time to be right visualized

Avoiding Expiration Preview 01:59

With expiration comes unnecessary risk, and who would ever choose unnecessary risk?

Managing Trades - Rule No. 2 and No. 3

Rule No. 4: Managing Winners Preview 02:00

Just because it's a winner today, doesn't mean it will be a winner tomorrow.  As a wise trader once said, "Nobody ever went broke taking profits."

Managing Winners Works: The Proof Preview 03:20

In case you didn't blindly believe me (which you shouldn't), here's the actual proof.

Outperforming POPs Preview 02:51

Why do I want to outperform the POP?  Here's why.

Managing Trades: 50% Profit is the Key Preview 03:23

The Golden Rule of becoming a long term profitable trader

Selling Verticals: Trade Page Example of Managing at 50% Preview 03:39

Let's look at all these rules in action

Buying Verticals: Trade Page Example of Managing at 50% Preview 02:33

Let's look at all these rules in action

Managing Losing Trades Preview 02:11

Nobody likes a loser

Reminder!! Preview 02:13

Managing Trades - Rule No. 4

Rule No. 5: Diversification Preview 01:49

Ever heard the saying, "don't put all your eggs in one basket?"  Here's why

Diversification: Stocks from Different Sectors Preview 03:07

The nuts and bolts of diversifying

Vertical Management Spreadsheet Preview 01:11

No need to work out anything yourself, or fear you are doing something incorrectly.  This spreadsheet will track all your trades and tell you when to close them and how much risk/reward you have on each trade.  A truly invaluable tool for any trader.

The Next and Final Step Preview 01:49

Time to be like Nike and "Just Do It"

BONUS - Follow Up Courses Preview 02:37

A list of all my courses now available on Udemy

Conclusion Preview 00:55