How To Increase Income - Using The Right Broker

by Richard Grassi
MonthlyIncomeGuy

If you wish to become wealthy and/or increase monthly income, you really need to choose the best stockbrokers, centered on your trading strategy.

Back many years in the past when I was hunting for a simple but financially rewarding trading approach, I made the decision that options would definitely be a first-rate alternative. But I was having a significant dilemma determining which option approach would be most useful for me! Options have many factors like time to expiration, volatility of the underlying asset, current value of the underlying asset, etc.

I am extremely visual and presently there was no way I could easily envision the true worth of my option as the time moved on, or as the volatility changed, or the root asset value changed. I studied a good deal and understood that I needed a 'Real Time Risk Profile graph.

I looked at about 12 brokers and either they had no risk profile graph or the graphs that they had were difficult to read and not intuitive. I was about to fork out $200 to purchase a risk graph profile program that was not real time. Luckily, another attendee at an investment workshop I went to highly recommended I look into 'Think or Swim'.

Well at the time the name sounded odd to me, but I checked them out and discovered they had an EXCELLENT risk profile chart. And it was Real Time, i.e., the options value were uploaded real time. AND they displayed two value lines, one for the options present value and one for the options value at expiration. I attempted several different option techniques that I could 'envision' how their values moved with the market. Because of this I was readily able to come up with an iron condor method that generates a solid 10% per month.

One more significant benefit that Think Or Swim provides is real time pricing of an option strategy. They visually show you the high and low offer/bid price combined with the 'mid' price so you fully grasp where you preferably should place your bid. This is mandatory for you to attain the recommended buy or sell price for your option system. If you want, you may want to place a bid with a 'live' broker. 98% of times I use the internet based trading mechanism, but there are times I want to consult with somebody who has straight access to the trading floor.

What is more, they have great service. If you have a query, just email these folks and you will normally get a response back within just 15 minutes.

Are there any other brokers who are less expensive - sure! But you are dealing with your very own cash and you should really select high quality over pricing. You could very well save a few bucks on the trade execution, BUT lose much more profit by getting a lousy fill. Think Or Swim is now a part of Ameritrade, but their main service is options.

I receive no pay of any sort from Think Or Swim, so there is no prejudice. They quite frankly provide the best services for anyone trading options!

Now, even though you have a superior broker, it is your job to trade correctly. If you have the 'get-rich-quick' reckoning you are certain to absolutely not acquire riches. To get able to achieve prosperity you must recognize that the slow steady methodology will in reality get you there. Earlier on I revealed to you that thanks to Think Or Swim's risk profile graph, I crafted a program that makes me 10% every thirty days. If you have actually the get-rich-quick philosophy, you will without doubt scoff at 'only' 10% per month. But simply because of compound interest, if you commence with $3500 and gain 10%/month, in five years you will have over ONE Million dollars.

I are aware that there are lots of people claiming they produced 150%, 200%, etc. on an option transaction and that this could be true. BUT what they don't tell you that it occurs only rarely and that they usually have losing buys and sells. So don't be consumed by their sales 'lies', and go for the slow but steady approach to wealth.

Richard Grassi has BSEE from USC, MBA from U Texas. He has taught his family/friends for years

how to increase income with his Simple 3 Step System which also builds wealth. NOW you also can eliminate your financial problems and slowly but surely become wealthy. Learn more at his website:

: http://www.monthlyincomeguy.com

Article submitted Sunday, January 29, 2012 & read 29 times.

Leave your comments through Real Cash Cow:

No comments yet.

0-0-0-0-0-ADSO

Most Recent