Welcome to track #1 here at optionalpha.com, and this is all for beginners who are new to trading or who haven't been trading that long and want to master the fundamentals and the basics of options trading and get to the next level.
First of all, I want to tell you I'm so freaking excited that you're here. It just blows my mind every time that somebody new signs up and I want you to know you've made a great decision to join the Option Alpha community here because I care about where you are the right now and where you want to get to.
So, as long as you're committed to making this a success, then I'll be here every step of the way to make sure that you master everything that you need to with regards to options trading and do it the right way so that you can find that groove that you need and that successful monthly stream of income that you're looking for.
Here's the deal. At the end of Track #1 you should be able to master all of the following key trading concepts. That's our mission and that's our goal and that's how we've laid out Track #1 so you know what the, path is from here.
First, you have to master what an options contract is. We'll be diving deep into this and talking about the specifics of different contracts, the differences between calls and puts, buying and selling, etc.
The second concept that we're going to master in Track #1 is options strategies, so how we lay out different strategies, the difference between a single leg or a multi-leg strategy.
Then we'll talk a little bit more on options pricing, so how are options priced, how do we gain our edge as an options trade, what factors determine an options price over time, etc.
The third concept that we'll master is technical analysis for determining the direction and how we can use that as part of our trading strategy in the future.
Then finally, we're going to wrap up all of this stuff for the end of Track #1 and start applying these concepts for generating income because that's really what you want to do, or at least that's what most people want to do with options trading is generate some stream of income.
By the end of Track #1 we'll make sure that we get all of that wrapped up, into a very concise set of videos on how you can start doing that immediately even if you have a small account.
Now, again, I promise you that if you invest as little as 30 minutes per day in this, I guarantee that it will pay huge dividends over the course of your life.
I've said this a bunch of times in welcome videos and videos that are out there online, but I can truly relate and truly point to the people in our program that have invested and logged in every single day or a couple times a week and are really, really active in the forums. Those are the people who find the most success.
There is no mystery formula for success here. It's hard work; it's dedication, it's putting the effort. But I guarantee, and I promise if you put in the effort, as little as 30 minutes per day, come in and watch one video per day, which is less than 30 minutes, obviously, that you can find success in this business.
It's just a matter of how much and how bad you want it. As most of you know, we started a Fast Track Program with you and that starts actually tomorrow.
So, if you're watching this video the first day that you're here at Options Alpha, which I hope you are, you'll know that tomorrow we're going to be sending you an e-mail that starts our Fast Track program.
It's basically my way of guiding you through this entire Track #1 progress and making sure you get the most out of Option Alpha as quickly as possible. Again, it's my way of helping you quickly get to the areas that you want to on the platform and on the website and get to the goals you have set for yourself for options trading.
Before I reveal the topics we'll be covering here today in Track #1, I need to tell you a few things first, and these are really important that you pay attention to these. Don't cancel out this video, delete it, stop it, whatever the case is.
Number one is that we're going to be having some member only webinars and workshops. These are going to be coming to via e-mail. There's a couple we'll be having as you progress through Track #1.
Each of these workshops or streaming webinars that we do is meant to help you at the stage that you're at right now. Be on the lookout for those, they're very limited in spacing. The webinar software that we use limits the number of people that we can get in here.
We've had hundreds of people who sign up for our courses and our training every single day, so make sure whenever you see one of those that you jump on it immediately.
There's also going to be an onboarding webinar that we do live with all of our members each and every week. So, if you're a new member, you want to jump on the onboarding webinar where we show you what we do here at Option Alpha and how we trade.
It's also a really good opportunity for you to get questions answered directly from me live every single week. Be sure to look out for those. Sign up for that onboarding webinar if you've got time in your schedule to make it.
Number two is I have to tell you that the way we laid things out here at Option Alpha is the difference between depth and width and that's how I've separated out a lot of the stuff you're going to see and a lot of the training.
Now, depth and width for me mean basically the difference between these tracks and modules. Inside of Option Alpha we've got these tracks which you're in right now, so Track #1, and then we'll have modules.
Now, modules can be anything from the Options Pricing module or the Bullish Strategies module. For me, the tracks are going to be a little bit longer videos, a little bit more in-depth, a little bit more hand-holding and step-by-step process.
The modules are going to be very short, very specific. So, if you're looking for a specific answer, like how to set up an Iron Condor trade, then you're going to want to go to the Neutral Options Strategy section, and they'll have a video there on how you can set up immediately.
It'll be a little bit shorter, still step-by-step, but it's going to give you the answer that you want a little bit quicker. That's the difference between tracks and modules here at Option Alpha.
Again, we found this to be very, very beneficial for a lot of our members because if you want a little bit more in-depth training, a little bit more hand-holding, you go through the tracks first. Then as you need different topics to be covered, you can quickly go back and forth between the different modules.
The other thing I want to talk about or encourage you to do is to take our quick platform tour. I think the platform tour is cool because it's in the Support Center and it lays out what the platform is and how best to navigate the four different areas that we have in our Option Alpha platform.
If you have the time today after you're done watching this video if you don't want to get started on this track, you want to do something else, get familiar with the platform, that's a great way to do that is take the quick platform tour.
The last thing that we want to talk about here real quick is our Popular Answer Vault. This is the difference maker, one of the difference makers that we have here at Options Alpha.
I've spent literally hours and hours, weeks and weeks writing out these Answer Vaults and we basically compiled about 196 I think right now is where we're out, based on when we did this video, about 196 different specific questions that people had on all different facets of trading.
We categorized everything out and I wrote out specific answers to each question. Every time that I asked a new question that we don't have in the Answer Vault, we add that to the Answer Vault.
86% of the thousands of members that we've surveyed before in the past said they found their answer to a specific trading question by going to the Answer Vault and searching there, in less than five minutes.
Now, that's incredible. It means you can get specific detailed answers without having to submit a support ticket. Now, we'll always be here if you have specific support questions, but if you want to find a quick answer to a quick question that you have, the Answer Vault, which is located in the Support Center is a really, really great way to get the answer that you need.
Now, finally, it's incredibly important to realize that everything I do here with my trading is my own account. It is not a paper account, I don't manage money for people. It is my account, my personal portfolio size, my market perspective, etc.
That also means that everything that we do here is not a recommendation to buy or sell any security. You, obviously, know all the legal stuff but it's worth mentioning again and it's linked at the bottom of every single page on our website.
Also, hopefully gives you a little bit of confidence and a lot of bit of trust building with me that everything that I'm doing here is real money that I have on the line.
It's not your money or somebody else's, we're not managing money, it is real, legit money that we're managing every single day for my personal account and for my family. So, I take this very, very seriously and this is, hopefully, a great way to show everything that I do.
Now, again, I've laid out the entire process, the procedures, the guidance, etc., on everything that I do and why I do it for free, as in it's never going to be charged for you, it's 100% publicly open and available, not like everyone else online, free. Everything that we do here at Option Alpha as far as training, education, guides, all 100% free.
That means you do not have to sign up for a PRO or ELITE membership unless you want to see what I'm doing on a daily basis and the trades that I'm making. That's it. There's nothing more. There's no hidden secrets that you'll learn.
There's nothing more that you'll learn by signing up for a PRO or ELITE membership in our higher level programs, because everything that we have is laid out 100% free and that's just how I feel that education and this business should be is that we should teach people exactly what we're doing.
If you want to see what I'm doing and then get support and guidance and feedback on a day-to-day basis, then you can upgrade to a PRO or ELITE level, or if you want to buy any of our software or research you can do that.
But I'm just letting you know, again, everything that you get here at Option Alpha is 100% free, and it's 100% better than everybody else's paid stuff out there. Having said all that, here's the roadmap of what we're going to cover here in Track #1.
The first set of videos and we break these things down into five parts and sets of videos based on topic and category to get you through different milestones quickly.
The first set of videos is going to talk about what is an options contract, so understanding what it is, the difference between stock trading versus options trading, and then we'll go a little more into details of contract specifics and look at a bunch of different examples.
The next part is going to look at put and call option basics, buying options versus selling options and then profit and loss diagrams and understanding how those can help you in your trading.
The next part is going to talk about in the money, out of the money and at the money options, so ITM, OTM and ATM options. We'll also look at reading an options pricing table, a little bit more on options pricing advanced stuff and then a real in-depth talk about options Greeks.
Another track that we're going to be going through, our second to the last track, is going to talk specifically about options expiration and assignment, like what that process is, who the parties are involved, what can happen, all that stuff that you might have questions about right now.
Defining our edge trading options, so where do we get our edge, where do we learn how to take advantage of market situations and market pricing to make some money. Now start the transition from single-leg options to multi-leg option strategies.
Finally, in the last part, the last chunk of videos we have here in Track #1, we're going to be talking about technical analysis indicators, small account option strategies and then wrapping this all up with generating consistent income.
What does a full-blown trading look like and how can we get from basic knowledge to start making some trades that generate consistent income on a monthly basis.
Again, I am extremely humbled that you're here. I want to thank you for choosing Option Alpha and let you know that we'll be here with you every step of the way.
Hopefully you get engaged early in the process here and start working on these tracks in our Fast Track program because I know that if you put the time in now, you're going to see a lot of success later on. Again, thanks so much for choosing Option Alpha and we'll talk to you soon.