Congratulations on Getting Started in the Wonderful World of Trading!!!
Here are all the goodies I promised you in our bonus session together at the end of day three's class.
First off here's my welcome letter to you about your daily handholding you'll be getting. Download this first and read it!
Get your 5 Week Daily Hand Holding Outline click here . It's a pdf. version download.
If you have not downloaded all 9 of the software trading tools you'll be using to build your trades make sure you get that done ASAP. You will need these tools. You get them all for a $147 dollar investment. There essential to trading like a pro.
Also I would recommend you get this covered call calculator . It will help you build properly structured covered calls.
Here is a link to a video tutorial on how to use the Trading Journal and another guide book. The other tools have tutorials inside of them. Here are 97 examples of how to use your journal (this is a big download and takes a minute)
Machtrader Software Install Link, Click here.
You can sign up for free daily live webinars and training videos on using the software.
For Machtrader support or customer service click here or call 1-888-831-6642
Psychology of Trading Webinar for Machtrader here
Machtrader software demo here
There are also 9 training videos available 24/7 inside the Machtrader software. Look in the help menu.
A trade example for the next week: (for information purposes only, not investment advice) posted 05/13/12
This is a 23 day trade on SLV (Silver) It is a credit strangle transaction that has the potential to make 6.8 % return in 23 days.
I like to trade ETFs because of their broader diversification to individual stocks and I also like "non correlated" assets that don't necessarily move in tandem with equities. This ETF tracks the commodity silver. Its been trading for some time between support of 25 and resistance of 31, hence this trade.
This trade will expire profitable if SLV stays below $31.38 dollars a share and above $24.62 between now and the third Friday of May.
Sell to Open 10 contracts of the Jun. 31 strike calls and simultaneously sell to open 10 contracts of the Jun. 25 puts. It will require margin of $5312. The premium received should be $.38 cents (Limit order of $.38) minus a $15.50 dollar commission equals $364.50 net credit. I would set a stop loss to exit the trade if the options value exceeds $500 dollars. In other words your risking $140 dollars to earn $364dollars. About a 3 to 1 reward to risk profile. This is a 79% probability trade based on the delta reading.
(remember all trades are educational examples and not investment recommendations and should not be considered financial advice or council)
(All margin requirements and commission costs calculated with Optionshouse brokerage)
Remember to do your own due diligence on all your trades. We do not give investment advice. If you haven't reviewed my risk disclosure yet make sure you download it here
Optionshouse Brokerage account questions: This is my favorite broker and I highly recommend you check them out.
If you have questions on how to structure these trades in you Options house brokerage trading account Click here for a guide.
There is also a good article on how to use bracket orders here.
Here is my explanation of the importance of stop losses.
Finally, here is a link to the video tutorials to get you started trading in your Optionshouse acct.
Make sure you get registered for your E-learning classes that you enrolled in ASAP!
Go to www.TigrentLearning.com and click on financial instruments then pick the first class your going to take and get enrolled.
-Options Strategies quick start guide: Download here (use this practice guide to practice trading your first virtual trades)
-Bookmark this link as well: Excellent guide for what strategies do and how to build them here
-We also want you to get started practicing the collar trade right away. Here's a more detailed view of it here. This is another example right here.
-Use this matrix to analyze what trade is appropriate for what market condition here
-You will also need to get started understanding Options Greeks. Download this guide here
I also promised you a bunch of free "stuff" that's helped me be a better trader over the last four years. Here are a bunch of links to them below:
SFO magazine subscription: http://www.sfomag.com/SubscribeRenew/Default.aspx
Futures and Options traders: http://www.futuresandoptionstrader.com/
Trader Daily magazine subscription: http://www.traderdaily.com/
Journal of Index's magazine subscription: https://www.indexuniverse.com/subscribe.html
Equities magazine subscription: http://www.cybertradinguniversity.com/free-magazines/one-year-free-equities-magazine
Traders Magazine: http://stock-links.tradepub.com/free-offer/traders/tra?sr=hicat&_t=hicat:1202
Futures magazine subscription: http://www.submag.com/sub/fz?wp=free
Spread sheet link to the new "weekly" tradable options here
Covered call strategy guidebook: Download here
John Wooden's Pyramid of success : Download here
Killing Sacred Cows book: Download here
3 Common Candle mistakes: Download here
Technical Analysis from A to Z: Download here
Understanding profit and loss graphs: Download here
25 rules of trading: Download here
Acres of diamonds book: Download here
As a man thinketh book: Download here
Free Countdown clock: Download here
Dreamline Worksheet: Download here
J.Paul Getty 8 keys to wealth: Download here
William Ekhart keys to trading success: Download here
Jesse Livermore book: Download here
Networth tracker spreadsheet: Download here
Position sizing calculator: Download here
Putting volatility to work article: Download here
Richest Man in Babylon book: Download here
The new rules of money: Download here
The covered call trade is one of the most straight forward trades that a lot of students start with. I use a calculator that I find indispensable for building these trades. Check it out here.
Get this Free Report to get started with your next 5 weeks to profit!
Click on the FREE Membership login and get registered on this site. You'll use this site as a daily trading resource. It has powerful screening tools.
This is the very best overall money management system I've found to track your entire financial life and best of all...it's totally FREE! Get it set up now!
Free Incorporation Service Here's a way to setup an LLC for free! Just pay your state filing fees. You can see your particular state fees right here.
Download your free guide book to Exchange Traded Funds
You could cut your taxes in Half! Just from the tax benefits of a trading business. (watch the 14 min. video) Sign up for the newsletter. It's .99 cents You get access to the 7 categories of tax deductions. Your also going to want to grab all these free tax savings tools here.
Go to IRS website and in search bar find the following publications and download them all for free:
#334 Small biz tax guide, #463 Travel expenses, #535 Business deductions, #552 Record keeping, #583 Starting a business, #587 Home based business deductions, #929 Hiring your children, #970 Education /Tuition deductions
Are you earning better than 10.6% on your fixed income money? Check this out. I throw a little of my "spare change" into this program every month. I love it as a diversified option in addition to the stock market. You can get started with as little as $25 dollars! I'm currently averaging 15.12% A.P.R. on my savings.
This is just a glimpse into the tools and help I want to provide for you. As you have questions getting started please email me at any time at: Trainer@TigrentLearning.com and be sure to put my name ; Scott Stewart, in the subject line so they can forward it to me and I will be happy to help you in any way possible. Remember...I'm here for you on a daily basis it you need it. Please follow this rule when we email: Do not ask any questions that are outside the scope of your current learning level. I.E. I'm not here to teach you. That's what your classes are for. I'm here to help you understand and implement what you've learned.
Utilize that offer! If I do not hear from you on a daily basis asking for guidance and help I just assume it's because your making too much money to take a break and email me! Please utilize me if you need help. Here is my fiduciary commitment to you.
One quick favor I will ask of you. Go to the youtube video of Robert and Kim Kiyosaki introducing me and click the "like" button and leave a comment. If you will do that and then email me that you've done so I will email a special gift to you for your effort. The video link is right here.
Last but not least!!!! If you didn't get this done in our bonus session together at the end of day three's class I want you to download and sign in blood, with threat of death (o.k., that might be a little much). Sign and commit whole heartedly to your Personal Responsibility Contract. Download a template right here. Failure is not an option!