Welcome to Track #2. The intermediate track that we have built out for you here about options trading. Now whether you're starting out with Track #2 or you've moved here after completing Track 1, it's important that you take a moment to watch this video and understand what we'll be covering moving forward.
Now Track #2 focuses on the following key concepts, and it's everything up to and including option trade fill or entry. The way that we've divided out these tracks is that order entry or fill is the differentiator between Track #2 and Track #3.
We'll help you get all the way to placing, finding, entering, filling and order in Track #2. Track #3 once you move forward is all going to be about managing the trade, exiting the trade, portfolio kind of management and all of the advanced level stuff.
In Track #2 we'll also be talking about the difference between historical and implied volatility, how you can use that as your edge in options trading moving forward. We'll be talking about how you can target a specific portfolio return and then back into the types of trades you need to make.
Also we'll talk about trade size and why that's so important as you start thinking about order entry. We'll talk about how you can scan for trades, choosing the best strategies, choosing the strike prices, the contract months, how far out you should be placing trades, all of that stuff in part three.
Then in part four towards the end we're going to talk about how to correctly price trades and place the trades including some order tips, entry tips, and contingent order types.
Here's the deal, I promise you if you invest as little as 30 minutes a day in this it will pay out huge dividends over the course of your life.
Track #2 is the track that differentiates those traders who are successful and those who aren't. Those people who go through Track 2 and understand all of the concepts that we're about to show you become very successful.
Again, it takes just as little as 30 minutes per day. This is what we've seen after tracking and talking with thousands upon thousands of traders who have taken our courses.
Now fast track program for you starts tomorrow if you're new to Option Alpha will help you get started here with Track #2 and every few days we'll be sending you some tips and guidelines on how you can use Track 2 moving forward and kind of guide you and walk you through the process.
Be looking out for that in your email. Now before I reveal the topics we'll be covering, I need to tell you a few things that are really important. One, you should have some general knowledge requirements.
Hopefully you took Track #2 if you started here with Option Alpha understanding that you should have some of this kind of background understanding of options. In case you haven't, it's important that you understand some general options basics.
What is the difference between a call and a put? Strike prices, expiration dates, things like that. You should also understand the difference between buying and selling options. Knowing that you can buy to open or sell to open and how that process works.
Then also you should have a very good understanding of different option strategy types, so credit spreads versus iron condors, et cetera. Now we've got a lot of video tutorials on all of those so if you need some help in understanding some of those; you can check out our video tutorials in the modules and training section and library.
Again, this is just kind of basic guidelines and knowledge requirements on what you need as you get through or as you get started here with Track #2.
Now it's also important to know that we do have members-only webinars and workshops that are going to be available as you get started here with us at Option Alpha. Again, be on the lookout for those.
We do those randomly throughout the month, but they're going to be workshops that are based on where you are inside of the current education track here at Option Alpha.
We're not going to be doing basic concepts if you're now in Track #2. We're going to be doing some more advanced concepts and making sure that you're progressing forward at a steady pace. The next thing we need to talk about is depth versus width.
This is the difference between our tracks here at Option Alpha and the modules. We've split our education into two main sections. We have our tracks which are now in, so the three main tracks that we have and then we have video tutorial modules.
Now the tracks are going to be a little bit longer in form. There are not as many videos in each track because they're a little bit long, a little bit more in-depth as they go through bigger topics with a lot more detail.
The video tutorial modules are going to be a lot more of them in those, and they're going to be a lot more narrow in focus, meaning we're going to just basically show you how to place this trade or how to exit this trade.
It's going to be short, sweet. They're going to be very helpful. You can use the search functionality here at Option Alpha to search for any different topic that you want to cover, and those will pull up any of the different video tutorial modules or tracks that you're looking for.
Again, I just want to clarify that difference here between tracks and modules. Now the next thing I encourage you to do is take a tour of the platform real quick.
If you haven't already done this, it's incredibly helpful to know what you're looking at and our quick, platform tour which you can find in the support center helps you understand the different sections of the Option Alpha platform.
We've made it as incredibly simple as possible to categorize our entire website into basically four or five different sections. Again, that quick platform tour is going to help you get the most out of your time here. Finally, I encourage you to check out our popular Answer Vault.
Most of the people that we've surveyed, about 86% of the people that we've surveyed say that they find their answer to the question that they have in the Answer Vault versus sending us an email. We always know that email support is going to be a little bit slower.
Obviously if you're a free member versus a pro or elite member, we give priority email support to pro and elite members for obvious reasons, but most of the questions that you probably already have a particular strategy or expiration or assignment or some other thing are likely answered in our Answer Vault.
We've got over 200 answers in there now that I've written out in detailed format, so check that out first before you maybe submit a ticket. You might just find that you've found your answer there a lot quicker.
Finally, it's incredibly important to realize that everything I do with trading here is my personal account, it's my portfolio size, my market perspectives. Obviously, I am not a registered advisor for you. Nothing that we talk about here or that we go through here is a recommendation to buy or sell any security.
Please take the time to read through our legal and risk disclosures on the bottom of every single page. Now I've laid out the entire process, procedures, guidance, et cetera on everything I do and why for free, as in it's never going to be charged to you. It's 100% publicly open and available, not to everyone else out there online.
It's total, totally free. The reality is is that 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, no hidden secrets that you'll learn being a pro or elite member. It's the difference in what we think that options trading and education should be, which is complete, open and transparency on as many levels as possible.
Again, everything that we do here and teach is exactly what we do. You don't need to sign up for a pro or elite membership unless you want to follow our trades and get our kind of trade commentary and market analysis on a daily basis.
Here's the roadmap of what we're going to cover here in Track #2. The first part of Track #2, we're going to cover fearless, confident, options trading, just understanding how to be more confident with your trading.
I think it's a good place to start. Most people don't start with this, so I think it will be a good place to set the foundation and the tone for the entire track.
We're also going to talk about the difference between historical and implied volatility, how you can use that to your advantage and your edge. Then finally we're going to talk about targeting your portfolio returns.
In the next part of Track #2, we're going to talk about predicting the market's next move, how you can do that with technical analysis if you can. We're also going to cover trade size and capital requirements.
How big should you be placing these trades as a percentage of your account size? How much capital should you have allocated overall?
We're going to cover all of that in that section. Then finally we're going to talk about portfolio balance and beta-weighting, which is insanely important as we get closer to trade entry.
In the next part we're going to talk through scanning for the best set ups, so what we usually do, what our scanning process is, what we look for, how we find trades. Then we're going to talk about choosing the best options strategy for whatever situation that you're in.
Finally how far out should I be placing trades? Should I be placing trades 30 days out, 60 days, 90 days? What's the answer to that question? In the next part, we're going to talk about strike price anchoring which is a concept that we developed here and we talk about about probabilities.
Then also an in-depth talk on how to correctly price your trades, which I can tell you is one of the fatal errors that most traders have when trading is that they'll get into a trade that has a high probability of success, but they won't price the trade correctly.
Therefore they end up losing even though the might have a high win rate. They end up losing on total dollars-wise.
Then finally in the last section of Track #2 we're going to talk about some tips on how you can get your trades filled a little bit faster or with better pricing, how to use advanced or contingent orders and then finally a very long in-depth talk on our seven step trade entry checklist, again, to get you all the way to and including trade entry and fill before we end out Track #2.
Then again as we go into track number three, those of you who do move on from Track #2, we'll talk more in-depth about managing overall positions, trade exits, stop losses, portfolio management, all that other kind of high-level stuff beyond just getting trades filled.
Okay? That's kind of the roadmap we're going to work at here at Option Alpha. Again, thank you for taking the time to watch this video. I'm extremely humbled that you are joining us on this journey.
If you have any comments or questions at any point, there are multiple ways that you can get in contact with us, in the comment box, in the forums or you can reach out to us on social media or email, but again, thank you so much for choosing Option Alpha and happy trading.