praveen

Not a big deal, but just wanted to point out that the Upcoming Calendar Events panel is now removed in the latest version of the Forum as illustrated and mentioned at the end of this video to visually see what possible trades are coming grouped by date.

Hi Bam1960, How do you pause execution in IB?

Hi Kim, I am needing some additional guidance. For the RL Aug 21 trade that took place recently, you had first opened a straddle for $8.50 debit. I was able to replicate the steps in the Classic TWS finally, but still have one question. Should the limit price be 8.50 or -8.50 since it is debit? Also then you mentioned you made an adjustment (rolling the calls up) for RL. I assume that is a vertical spread just like explained in your instructions. It's price was $2.55 Credit. So what should its limit price be? Should it be -2.55 or 2.55 since it is a credit? Also is it possible that the Vertical spread that you mentioned is no longer available to execute on because currently it does not give a 125 call option to sell when you try to buy a 130 call? Is there already an explanation somewhere on this forum where it mentions why you rolled up the calls and when you choose to do it? For the SPX trade, the combo selection interface looks slightly different and I have some doubts as follows: a) First there is a Trading Class which has options for SPX or SPXW. Which is the one I choose (if any)? (I notice each leg has a different Trading Class) The interface also has a Front and Back filtering criteria. Is Aug 20 considered the Front and then Aug 14 the Back? c) Also it has a Duration option to filter with? It seems the duration for this trade is 6 days, correct? d) I found the strategy titled "(1) Aug 14 '15 + (1) AUG 20 ' 15 2105 Call" which matches your alert. However, the price again is a debit of $2.80. So do I enter the Limit price as $2.80 or -$2.80? Thanks, Praveen

Hi Kim, I was told by the IB team that the ComboTrader has been deprecated out of TWS as of version 947 released on Oct 23, 2014. It has now been replaced with StrategyBuilder. It is also mentioned in their release notes. I have to watch a few of their webinars that they asked me to watch to see if I can figure out how to enter your trades into my Paper Trading account. But it would be nice if you are able to help update this topic with new instructions using their latest version of software so it will help speed up the process for myself and others who are new to options trading. Thanks, Praveen

Hi Fededito, I really cannot believe I am providing an answer on this forum Anyhow to respond to your question, there is no minimum balance needed at IB to have Paper Trading access. However, if you deposit less than $2K, they will charge you $20/mo fee which can be offset by commissions. If you deposit between $2K-$100K, they will charge you $10/mo fee which can be offset by commissions (ie. if you generate $2 in commissions, then their fee is $8). If you deposit $100K+, then there are no monthly fees. Now to begin trading, you will need $10K or your trades will not execute but you can still enter them. Unless you are younger than 25 years of age, then there is only a $3K requirement. More details are on this URL: http://www.interactivebrokers.com/en/index.php?f=4969&ns=T Hope this helps. And thank you for asking this question as I learned as well because I had to do research to find this answer. Thanks, Praveen

Hi Kim, I have ordered the Getting Started in Options and The Rookies Guide to Options books from Amazon. Cannot wait to receive them and dig deeper into them. I also setup my account at IB and I downloaded the Windows IB Trader Workstation Build 950.2g. However the instructions on your link do not seem to match the interface I have on my end. Could it be the software has changed significantly since that article was initially published in 2013? I am still waiting for my Paper Trading account to be activated which will happen next week. For Interactive Brokers, is there a preferred layout for their Mosaic Interface of what all monitors and windows I should have open on my screen within their interface? Thanks, Praveen

Hi, I am a Newbie to both (the concept of) Options and the Steady Options site. I do plan to do paper trading for 1-3 months until I have a better understanding of these concepts in case you are concerned I have many questions however, which are as follows: 1) If I have questions, do I simply post them here? What is the best practice? 2) Which websites can help me learn about the concepts used by Kim for Options trading? 3) Is there a site that spells out how to enter the trade into the trading platform (ToS, IB)? 4) I currently have a TOS account. I am thinking to PaperTrade in it and then when I am ready to trade, switch to IB since their fee structure is better. Is that a bad idea? Or should I begin Papertrading in a IB account (I will have to set it up though). 5) When I am ready to trade, and if I only have 10K in my Trading Account, and plan to follow the SO trades, how much should I allocate per trade? The reason I ask is because I want to keep the same trade size during Paper Trading. Any other tips or help would be greatly appreciated in my new journey. Thanks, Praveen