Greetings from Canada. I'm brand new to this forum. I'm a novice Options trader (< 1 year). That said, I've been successful for the most part until recently. I have several open Call Credit Spread contracts that are all in the red right now. Needless to say, feeling a lot of angst and trepidation at the prospect of suddenly losing a lot of money. Anyway, this has convinced me that I need guidance/advice/mentorship (whatever you want to call it) from others in the know to learn better how to assess potential trade candidates and mitigate risk/reward so I don't find myself in this predicament again.
Anyway, I'm wondering how others feel about Options trading advisory services? I've never subscribed to any of these before. I recently learned about WallStreetZen, and although it's not technically an advisory service I do like their approach and offering. If you opt for their Premium membership you get access to insider buys and Strong Buy recommendations from top trade analysts. Regardless, they have a free screener as well as several pre-built to choose from. Would anyone recommend using one of these? For anyone that has, did you find it beneficial?
Up to now, I've been using a stock screener from Barchart. I know some people may not put a lot of faith in them, but I think knowledge is power. If they help make for more informed trading decisions (even if just from a further validation/confirmation perspective), the better. That said, I've become disillusioned with Barchart as of late. I'd like to hear from anyone else that has used Barchart's screener to discuss the problem I see it having.
Speaking of stock screeners, if anyone has a recommendation for one or more that are more accurate in terms of the direction a stock's movement is set to go (whether that be up or down) please let me know, thanks! That's the issue I have with Barchart now. Again, I can elaborate in a separate thread (this one's already too long... LOL). I'm just wondering if a better approach to finding trade candidates (at least initially until I gain more experience) would be to use an advisory service and a stock screener for added validation/confirmation(?)
Of course, regardless of approach I think having access to trading forums such as this are invaluable; being able to discuss all things trading with like-minded people. I hope to learn a lot from the community here in terms of trading ideas, strategies, and get advice/recommendations.
Sorry for the long-winded thread. Looking forward to your responses. TIA
Anyway, I'm wondering how others feel about Options trading advisory services? I've never subscribed to any of these before. I recently learned about WallStreetZen, and although it's not technically an advisory service I do like their approach and offering. If you opt for their Premium membership you get access to insider buys and Strong Buy recommendations from top trade analysts. Regardless, they have a free screener as well as several pre-built to choose from. Would anyone recommend using one of these? For anyone that has, did you find it beneficial?
Up to now, I've been using a stock screener from Barchart. I know some people may not put a lot of faith in them, but I think knowledge is power. If they help make for more informed trading decisions (even if just from a further validation/confirmation perspective), the better. That said, I've become disillusioned with Barchart as of late. I'd like to hear from anyone else that has used Barchart's screener to discuss the problem I see it having.
Speaking of stock screeners, if anyone has a recommendation for one or more that are more accurate in terms of the direction a stock's movement is set to go (whether that be up or down) please let me know, thanks! That's the issue I have with Barchart now. Again, I can elaborate in a separate thread (this one's already too long... LOL). I'm just wondering if a better approach to finding trade candidates (at least initially until I gain more experience) would be to use an advisory service and a stock screener for added validation/confirmation(?)
Of course, regardless of approach I think having access to trading forums such as this are invaluable; being able to discuss all things trading with like-minded people. I hope to learn a lot from the community here in terms of trading ideas, strategies, and get advice/recommendations.
Sorry for the long-winded thread. Looking forward to your responses. TIA
