Are there any Options Training Trading Firms......?

[uzoik]

Hi,

Do they exist? A lot out there that do training on Futures? Still suspect with those ones too.

I am interested in Options to beef up my learning the curve (read some good books already i.e Natenburg) and would like to get more serious with some firm/traders.

I am based in London but could also try in Amsterdam.

Please advise, need some help.

Cheers!

 

[LeveredHedge]

Best bet is to look at some legit prop shops: Optiver, Tibra, Wovlerine, Jane Street, SIG, All Options

However, make sure to have your mental maths and probability up to scratch with these.

 

[uzoik]

Best bet is to look at some legit prop shops: Optiver, Tibra, Wovlerine, Jane Street, SIG, All Options

However, make sure to have your mental maths and probability up to scratch with these.

Thanks LeveredHedge, trust me I have done loads of research. I have been in contact with All Options, Optiver, Tibra... However, these are firms that 'employ' you, and thats not really what I am looking for. The mentioned companies, tend to employ fast thinking mathematicians, then groom them accordingly (if they are excel). Again, not what I am looking for...

In Short. A prop training firm that trades Options. There are a few here (which I have been in contact with i.e GTC, Futex, Amplify. But they tend to deal only with Futures. Why is that? Also are there any that focus only on Options? If not, why?

Any one out there....?

 

[dmeista]

what do you want to know about prop techniques in options? If you think vol. is to high sell options and vice versa. If you think one month is too cheap buy it agains another month. If you think there's to much skew sell it and vice versa. If you think the div forecast is to high, sell div.

All your opinions you can translate it in buying selling straddles/strangles/risks/calendars/spreads.

That's all there is to know uzoik!

 

[uzoik]

what do you want to know about prop techniques in options? If you think vol. is to high sell options and vice versa. If you think one month is too cheap buy it agains another month. If you think there's to much skew sell it and vice versa. If you think the div forecast is to high, sell div.

All your opinions you can translate it in buying selling straddles/strangles/risks/calendars/spreads.

That's all there is to know uzoik!

Thanks dmeista,

BUT you make options trading sound so easy. It probably is if one has deep pockets to blow away cash. Not me yet. I have got only 50k to trade and I think Warren Buffets view of derivatives rings well in my ears, that ' derivatives (incl options) are "financial weapons of mass destruction'.
So if one does know how, one should not blow away 50K without thorough understanding and experience first. Which draws me to a few choices available....

(1) Paper trade and begin live trading ONLY when I see positive consist results.
Con: This could take forever without real interaction with someone/firm with experience. Plus the learning would be limited.

(2) Join a trading training firm. Learn what they teach and then begin trading slowly with the firm.
Con: Firms I found only trade Futures, still not bad (a stepping stone perhaps) but with monthly fees of about 2k, how long will I last with my 50k capital?

(3) Keep applying to a bank or a firm to become a trader.
Con: Extremely competitive and futile with no experience.

Guys, am I missing other choices? Can any one add to the disadvantages I raised in points 1-3? Or better still which choice would you take???

Cheers,

 

[dmeista]

Thanks dmeista,

BUT you make options trading sound so easy. It probably is if one has deep pockets to blow away cash. Not me yet. I have got only 50k to trade and I think Warren Buffets view of derivatives rings well in my ears, that ' derivatives (incl options) are "financial weapons of mass destruction'.
So if one does know how, one should not blow away 50K without thorough understanding and experience first. Which draws me to a few choices available....

(1) Paper trade and begin live trading ONLY when I see positive consist results.
Con: This could take forever without real interaction with someone/firm with experience. Plus the learning would be limited.

(2) Join a trading training firm. Learn what they teach and then begin trading slowly with the firm.
Con: Firms I found only trade Futures, still not bad (a stepping stone perhaps) but with monthly fees of about 2k, how long will I last with my 50k capital?

(3) Keep applying to a bank or a firm to become a trader.
Con: Extremely competitive and futile with no experience.

Guys, am I missing other choices? Can any one add to the disadvantages I raised in points 1-3? Or better still which choice would you take???

Cheers,

My opinion about your points:

1. Paper trading is good for learning what options are. Don't forget to include transaction costs, a real profitburner.

2. A future trading firm. What do you expect to learn there? The only thing they do is buy and sell a certain future/futures. A trader maybe has a certain strategy. For instance they compare two almost similar futures with each other, see a certain correlation and when the futures are out of the normale range they buy one future and sell the other and hope to make a profit. Whatever their strategy is, if it's profitable i can assure you...they won't tell you how it works.

3. Best option there is. But if you're not getting a job anywhere and see better people then you do, then draw your own conclusions and keep your 50k in your pocket and just buy some emerging market shares/gold/etc. with the 50k.

 

[xx765]

dmeista is 100% right.

If any firm knows a consitent way of making money, why would they teach everyone else instead of hire a couple of guys and secretly collect all the money for themselves?

I work for an options market maker in London. Trust me the edge professional traders get over retails (systems, expertise, transaction cost, information flow etc) is too big for any retail to have positive expectation in a 0 sum game like this.

 

[Swingtrader10]

I recommend this site for FREE inforation about options as well as their FREE book!
http://www.stock-and-option-trading.com