Getting Set Up Fast!

What's up everyone!  I just got back from a relaxing Spring Break with the family.  Tubing, zip-lining, ice skating etc...  It was a good time for all.  Now its time to get back to work!  If you've been keeping up with my blog you would know that my favorite investing strategy is trading Bear Call option spreads.  I look to earn between 2% to 4% per month using trades that have at least an 80% probability of success.  In this post I wanted to touch on getting your options brokerage account set up.

For several years I've had my primary financial accounts at a large bank.  The big banks are generally OK for checking and savings accounts but when it comes to brokerage accounts they are usually WAY more expensive to deal with.  When I started trading options I used Big Bank's brokerage arm because it was the easiest thing to do.  I later found that my profits were being eaten alive!  After a little research I found several "discount" brokerages online.  Some of these sites like Options Express and Trade King were much cheaper to use than Big Bank but I still wasn't satisfied.  After digging yet deeper on the web I found a company called E-Option.  To date, I haven't found a cheaper place to trade options.  Now I admit that E-Option's web interface isn't that pretty and lacks some of the bells and whistles of other sites but the price is right.  If you can find a cheaper place to trade options please leave a comment with their name!

I found that the application process at E-Option was also a breeze.  Another positive aspect of the site is that they've partnered with several companies that offer a service called "auto trading". Basically you sign up with a company and for a fee they will automatically send their trades to E-Option who will in turn execute the orders on your behalf.  It's a hands off approach to investing that takes the decision making out of your hands and places it with a "professional".  Auto trading is cool, but I would highly recommend you research the company you're dealing with first.  Some are better than others.

Next time I'm going to dig up some old account statements and give some examples of successful trades  I've made over the last several months.  As always please leave comments if you have any questions.  Good night ya'll!