I appreciate the more frequent updates to OMM that you’ve been giving over the last few months.
Also, in this video you mention not to load up on the options initially, but rather start slowly, with the ability to add more if the trade is working. You acknowledge that some of the trades haven’t worked out that well lately. My point is that this is very useful information. I have not done well as a new option trader thus far with OMM. I believe that I wouldn’t be in this position if I had been more cautious initially as you are suggesting. I am currently, frankly, too timid (scared really) to enter any option positions and I feel that I need to sit back and see a few of these trades work first. During this time, I find these kind of risk management strategies you are stressing to be very helpful.
Dan, I wish you could consider to introduce some trades (or at least some tactics) on longer term or LEAPS options. I also got scared of short-term, e.g. 1 or 2 months, options. Got burned several times before joining the community. Even now i follow some of your trades, I dare not enter. Now I lean towards the concept of using longer term options as a substitute for stocks, esp. high price ones (like WLT) in light of my limited capitals. Appreciate any advice you could give. Thank you for all your efforts.
I appreciate the more frequent updates to OMM that you’ve been giving over the last few months.
Also, in this video you mention not to load up on the options initially, but rather start slowly, with the ability to add more if the trade is working. You acknowledge that some of the trades haven’t worked out that well lately. My point is that this is very useful information. I have not done well as a new option trader thus far with OMM. I believe that I wouldn’t be in this position if I had been more cautious initially as you are suggesting. I am currently, frankly, too timid (scared really) to enter any option positions and I feel that I need to sit back and see a few of these trades work first. During this time, I find these kind of risk management strategies you are stressing to be very helpful.
Thank you for your continued improvement of OMM.
Dan, I wish you could consider to introduce some trades (or at least some tactics) on longer term or LEAPS options. I also got scared of short-term, e.g. 1 or 2 months, options. Got burned several times before joining the community. Even now i follow some of your trades, I dare not enter. Now I lean towards the concept of using longer term options as a substitute for stocks, esp. high price ones (like WLT) in light of my limited capitals. Appreciate any advice you could give. Thank you for all your efforts.