Guest Cashflows Posted April 11, 2018 Posted April 11, 2018 What is everyone's opinion of the must have tools to trade options? Lets see if there is any new gems. Quote
bam1960 Posted April 11, 2018 Posted April 11, 2018 11 minutes ago, Cashflows said: What is everyone's opinion of the must have tools to trade options? Lets see if there is any new gems. ONE or option net I think is essential. Quote
Guest Cashflows Posted April 11, 2018 Posted April 11, 2018 Does it do more than TOS Thinkback feature? Quote
Djtux Posted April 11, 2018 Posted April 11, 2018 28 minutes ago, Cashflows said: Does it do more than TOS Thinkback feature? TOS is only good if you have all your positions there. If you want to do adjustments to your option positions, then you need something like ONE. I believe many SO members have ONE software to track their option positions and do adjustments. Quote
bam1960 Posted April 11, 2018 Posted April 11, 2018 54 minutes ago, Cashflows said: Does it do more than TOS Thinkback feature? definitely Quote
Guest Cashflows Posted April 11, 2018 Posted April 11, 2018 Do you use ONE software to actually place your trades? Quote
bam1960 Posted April 11, 2018 Posted April 11, 2018 You can but I just use it for tracking my trades Quote
Guest Cashflows Posted April 12, 2018 Posted April 12, 2018 What about other services? How necessary is optionslam for earnings trades? Is it the best deal for the price or other recommendations? Quote
PGAmbrosio Posted April 12, 2018 Posted April 12, 2018 I would argue that nothing is a MUST outside of a platform/interface to place orders. Just from reading the forums I know there are some that do not use ONE or look at RV charts that can be found on VolatilityHQ/Art of Trading. That being said, those are probably two of the more important tools IMHO. CMLViz looks pretty interesting as far as trade ideas. Finally, I've been "test driving" TradeHawk as an interface for Tradier and I've found the order stager to be a very useful tool. Basically, it lists trades you might want to trade in the future with the current price...very helpful in watching straddle prices for entry. I've been trading with TastyWorks and I'm not aware they have something that can do this. Quote
Guest Cashflows Posted April 12, 2018 Posted April 12, 2018 Sorry I feel incredibly dense on ONE. I see the benefit as the risk profile I get in TOS and being able o manually backtest with thinkback on TOS. What other uses cases do you get? Please dont think I'm knocking it I plan to use tastyworks because I do not know if I will trade enough contracts to justify getting tradier. Quote
Mary Posted April 16, 2018 Posted April 16, 2018 @Cashflows Without any doubt the greatest gem I found through my membership here was the introductory deal to Optionslam. I know few members use it; but here is the trick - you have to LEARN how to use the site. I took out 2 months of my time to watch almost all of the 65+ webinars. These webinars are priceless and not only teach you how to use his site, but how to strategize and manage trades. Marko who conducts the webinars is an exceptional and patient teacher. He has a great respect for others and never makes a newbie feel...well..like a newbie! He has a passion for trading options and he cares about sharing his knowledge. which may be why so much of the information on the site is offered for free. The CML Trademachine is also a favorite. My portfolio has increased substantially due to it, and so it is definitely worth the subscription fee. However, once again you must take the time to learn it and do the due diligence when you are entering a trade. Larry McMillan's weekly newsletter is great for getting a technician's clue as to where the market is going. You know Larry, he is the person who wrote the Bible on options. Final thought: I have studied the patterns and cycles of markets for over 25 years and it has given me the extra edge. If you ever get to this point of interest, then check out Elliott Wave Trader. It is by far the best of all in this genre. I have followed Avi Gilburt for almost a decade and I rarely disagree with him; and he is almost always right about predicting when the market is going to turn. Watching and analyzing patterns takes time; so now he does all the heavy lifting for me so I can spend more time having fun trading. Quote
Guest Cashflows Posted April 16, 2018 Posted April 16, 2018 (edited) Starting using VolatilityHQ by DjTux and I am hooked. I think it is a must. Art of Trading is another great tool as well to checkout. Edited April 16, 2018 by Cashflows Quote
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