Monday, August 08, 2005

My First Step

Like the wise old saying, "Every Journey Starts with the First Step .."

Well, this is my first step - my foray into the options trading world, accumulating my trading experiences, learning from my money-losing mistakes and refining my skills as I ploughed this journey.

US equity options trading only become popular a few years ago in Singapore. Now you can see a no. of options trading seminars advertisement sprouting in the Straits Times frequently.

So, is options trading really profitable? From my own opinion - the answer is YES, BUT only if you treat options trading professionally and put in lots of hard work in it. First of all, it is not to be mistaken as a get-rich-quick scheme. It IS related very closely to shares trading and you know any form of trading carry some form of risks, just think of dot-com crashes, currency crises etc.

I started trading options only seriously after I attended a 2 1/2 day seminar in Nov 2004. It was eye opening and I graduated with good skills that I apply immediately (with real money) in Nov 2004. Well, you ever heard of the "Santa Claus Rally"? I was lucky as my options trades in Nov and Dec 2004 were 90% profitable. But that was the start of bad news for me - I hope to share with you soon.