Normal - options related - blogging returns tomorrow.
Thanks for bearing with me during my dilemma.
Due to numerous requests, I've been considering using Options for Rookies to post, and then follow, a specific, simulated trade. I will not trade the position in my real account). This is the plan:
- Post a trade, with rationale for making the trade
- Post periodic updates, as needed - if the position remains unchanged
- Discuss any interesting aspect of the trade. I anticipate that most of the discussion will involve adjustment or exit decisions
- Readers comments are an essential part of this exercise - especially when you don't like an action I took (or decided not to take)
- My recommendations should not be considered as gospel
- Alternatives should be discussed. Please fell free to express your thoughts
- We each have a different comfort zone and that means the same position would be handled differently by other traders
- If you don't participate in the discussion, it becomes less of a learning experience for rookies
- My recommendations should not be considered as gospel
I repeat: The purpose of the exercise is to provide an educational experience for readers. It is NOT to suggest a profitable trading opportunity for you.
That's the truth. Please believe it. I suspect that no matter how often I repeat that sentence, there are those who will make the trade in their own accounts, seeking profits.
No records will be kept of profits and losses. When the primary objective of a trade is to turn it into a lesson (when feasible), then earning a profit becomes secondary. I don't plan to lose money on purpose, nor do I intend to take extra risk just because the trades are imaginary. However, the need to have a winner is not as strong when an important lesson can be taught in lieu of grabbing a quick profit.
The primary purpose of these trading examples is to make it easier for rookies to think about, and understand how certain trading decisions are made. Or least how I would make them. If you participate, we all get to see how you would handle specific positions. Feel free to criticize.
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That's the plan.
However, I don't have time to add additional features to this blog. I love writing Options for Rookies and communicating with readers, but have run out of hours in the day - as discussed three days ago. I requested reader input and received some very welcome suggestions.
The readers who responded to the poll were split evenly. The question was whether you would be willing to pay a small monthly subscription to have access to an additional blog. Although 'no' received the most votes, there were two categories of 'yes' votes, plus another that represents an unhappy 'yes."
The response convinces me that there is more than enough interest to make a premium blog viable.
There are no immediate plans to make changes. It takes time to get a new blog up and running - especially when no content has been prepared.
Thus, for the moment, there will be no changes at Options for Rookies, and I will do my best to keep up with questions.
Planning for an additional blog is ongoing.
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