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Choosing an Options Trading Broker - It's Not Just About Commission Rates Before jumping into the various criteria that can be used to evaluate prospective options brokers, I want to lay the groundwork by describing the active options trader's world... at least my world. From this I think you'll see why I have the criteria I do. The active options trader's world When I say I'm an active options trader, I mean that I regularly enter options trades in various forms, mostly spreads (see my article on premium selling strategies for more on this). I also mean that I may do this multiple times in a day. I make decisions to enter a trade, do quick analysis and then I want to set the trade up, select a price and quantity and enter it. Sometimes the market is moving at a such a quick rate that the time window of opportunity is a matter of minutes. I often have the same requirement to exit the trade or make a trade adjustment. I not only want the ability to enter orders quickly but I also want to quickly construct standing orders that can help me exit the trade when a target profit point has been reached or I've hit my maximum allowable loss point. Because of the nature of my trades, I depend on getting a certain amount of theoretical edge on the trade. That means I may sell a spread for more than the offer price and buy a spread for less than the ask price. I often attempt to hit the midway price between the bid and the ask price. As a result, getting the best price possible on either side of the trade is critical to me. Another important part of my trading is having the ability to quickly assess my overall positions as a portfolio and knowing where I stand in my overall delta exposure and in regards to the other aggregate Greeks. Successful trading to me includes managing my portfolio and overall directional risk, consequently being able to get a quick view of these values is important to me. One final aspect of my world I want to cover is in the area of being nimble. In the course of my trading, I often ask questions for which I want to arrive at the answer quickly. Some of these include: What kind of credit can I get for this position I'm considering? What can I close my position for? If I add to my position, what is the impact to my overall portfolio? What is the best strategy to hedge some of my directional risk? With this background in mind, I now want to turn to the three key criteria I believe are important when evaluating options brokers. Criteria #1: Trading platform Earlier, I mentioned that agility is important to me as an active options trader. The trading platform to me is a key enabler to being agile. The ability to quickly answer questions, do analysis, set up a hypothetical trade, and adjust various parameters prior to entering an order is critical. To do all of these things, I often need to access different information such as P&L graphs, risk profiles, theoretical prices given a future date, price and volatility, etc. I find myself switching back and forth between the different information areas frequently. I need a platform that can keep my pending order details while I do further research. Furthermore, I need a platform that is able to answer all my questions rapidly. When I'm considering a credit spread or a calendar spread, I want to quickly be able to know what the credit might be. I want to know the delta, theoretical price, probability of the short strike expiring worthless, etc. I may want to know the probable range of movement of the underlying stock or ETF for the given time frame. Of course, charting is important and virtually all trading platforms provide some kind of charting tool. The ability to apply studies, view different time frames and the ability to annotate a chart are all important features to me. Criteria #2: Order routing I mentioned that getting a good theoretical edge is important to me. I'd argue that a broker that can get me the best theoretical edge is well worth the incremental commission it may cost to trade there. Usually the ability to get good fill prices is related to order routing (assuming sufficient open interest). For me, order routing has two aspects. First is making sure my order gets sent to the widest range of options exchanges. Most options trade on more than one exchange and doing so helps better provide fair pricing and a more liquid market. The second aspect is the speed with which my order is sent to the exchange. In the ideal world, I want my order at the exchange the moment I press the send button. With rapid price movement, time is of the essence. Criteria #3: Support & Education While somewhat less critical than the first two criteria, support and education are still very important to me. There have been many times I've been looking at a position and considering an adjustment and I just wanted an opinion as to whether my analysis was correct (Note: I am not asking 'Should I make the trade?'). There's nothing like getting on the phone or a chat session with someone at the brokerage to ask if I'm missing something in my analysis. Having people who are also active traders is a huge help because they talk my language and understand my world. Any options brokerage that offers ongoing, quality education benefits both trader and brokerage. The better trader I become, the longer I stay in the business, the more I trade, the more commissions they receive. An options brokerage who is willing to invest in a variety of educational outreach programs designed to sharpen me as a trader has my interest and potentially, my business. Conclusion Why aren't broker commission rates on my list of evaluation criteria? These days, the commission rates have been driven down significantly. In addition, it's often impossible to do true apples-to-apples comparisons. For me, the benefits gained from finding a brokerage that meets my other three criteria far outweigh the extra $.50 or $1 I may pay per contract on a transaction. Don't be drawn in by apparent low commission rates on options trades. In this article I have laid out what I consider to be the key evaluation criteria for options brokers. It is not my intention to make a recommendation for a specific brokerage. On my website I do go into detailed review of several options brokers that I've traded with.

10 Easy Steps to Succeed in Your Online Classes

Congratulations Youve made up our minds to pursue your upper schooling, and doing so online is how to pass if you have an interest in a versatile, studentcentered educating manner. Studying online permits you to pursue different pursuits and attend to different responsibilities whilst nonetheless operating your method towards some extent. However, it will now and again imply that its clean to get distracted. Here are 10 clean steps to verify luck on your online categories.

1. Connect together with your instructors once conceivable. Even in case you are doing smartly within the category, its extraordinarily vital to increase a rapport together with your trainer. When you do that early on, you temporarily understand what the priorities are within the route, what expectancies the professor has of you and youre going to be motivated to prevail, surer of whats forward and higher ready to do smartly with the impending subject material.

Valuable questions to invite your trainer come with the next

How versatile are you with time limits How versatile are you with grownup freshmen What applied sciences do you employ within the route How to be had are you through e mail and different sorts of verbal exchange How do you put up an internet neighborhood and what are the expectancies for participation in it In addition, since instructors are to be had to lend a hand all over the classes, its all the time just right to have had private touch with the trainer early on. This method, when you wish to have lend a hand, its more straightforward to achieve out and get the help you wish to have.

2. Confirm the technical necessities of the route. Online categories can also be very advisable for college kids with busy schedules, however provided that they are able to simply get right of entry to the fabrics. It is vital to obviously perceive what the technical necessities are. So, ahead of the route begins or as quickly thereafter as conceivable, youll want to test that your pc will paintings with the entire online equipment, and that you understand how to navigate them. This will be sure that you dont must spend time all the way through the route attempting to determine the generation.

three. Create a time table and stick with it. Quality online instructors create classes which might be clean to navigate and feature transparent expectancies. Having that roughly easytodealwith framework in position will make learning and succeeding that a lot more straightforward. However, although the framework and necessities of your category arent as transparent, youll create a time table and construction, which is able to very much fortify your probabilities of luck within the route. Using equipment equivalent to Google Calendar is a good way to start out. Knowing how your weeks and months glance and scheduling blocks of analysis time for each and every activity or module will will let you stick with a time table.

four. Ask questionsall the time. When you dont perceive, ask questions. When you do perceive, ask additional questions. Instructors recognize scholars who take part, and if theres a participation or dialogue part a part of the grade, then asking high quality questions is helping guarantee your grade on this space. Even if there isnt a participation part, its all the time helpful to invite inquiries to remember to perceive the fabric and are transparent on what is needed of you.

five. Be arrangedand keep arranged. Students whore taking conventional, campusbased classes most often have a constant time table to observe each and every week, through which study room instruction is adopted through assignments out of doors the category. However, for online classes, scholars will have to search out their very own techniques to stick on most sensible in their paintings. It is crucial that you just be arranged from the start of the semester with the intention to achieve success in an internet route. For instance mark task due dates on your calendar, discover a submitting machine for each online subject material and bodily subject material that is helping you stay monitor of the whole lot simply, and shed light on find out about schedules that duvet sections of the route one by one so youve got an arranged tactic to protecting the semesters subject material as you pass alongside.

6. Have a blank, quiet, and constant workspace. One factor online and inclass classes have in not unusual is that scholars all the time want a spot to review or whole assignments this is blank, quiet, and constant. You can select the place that is for youwhether or not its at a espresso store, a college library, a devoted place of business, or at house. Wherever you select to review and whole assignments, you must make it a constant location that doesnt have out of doors distractions. It is basically key that where is quiet and lets you focal point in your paintings with out distractions.
7. Do no longer procrastinate. Successful distance freshmen hardly procrastinate. They dont do away with assignments or wait till the final second to write down their papers. Successful online scholars experience freedoms that come with operating at their very own tempo and the facility to finish their paintings in as a lot time because it takes them. On the opposite hand, they know that finishing their assignments is best performed early and on time cramming merely doesnt paintings, and it doesnt will let you retain knowledge longterm. Get began early on getting a success.

eight. Work in your studying comprehension. Successful distance freshmen generally tend to have just right studying comprehension abilities. Most conventional, campusbased scholars concentrate to lectures and take notes, and a few online classes additionally require this. However, the vast majority of distance freshmen are anticipated to grasp subject material thru a large amount of studying. Although far finding out classes be offering video recordings and audio clips, maximum systems require scholars to hide and grasp a considerable amount of written knowledge. If it is a problem for you, it could be very useful to first sign up in a studying comprehension route there are lots of assets online that will help you do that. This ability by myself could make a huge distinction on your luck.

nine. Establish and admire routines that be just right for you. If, for instance, youre employed best within the morning or in brief bursts, then set find out about routines that can help you find out about within the prelunch hours when your mind is contemporary. If, then again, you do best through learning at evening or at the weekends when youll devote nightowl hours or longer blocks in your learning, then make it some degree to take action. Consider how and whilst you paintings best, and enforce a find out about plan that respects the routines that be just right for you.

10. Connect together with your friends. Establishing sturdy connections with friends and professors is a very powerful facet of tutorial luck, in addition to skilled development. One of essentially the most rewarding reports in schooling is finding out thru collaboration. Forming significant relationships together with your friends and professors can can help you be told extra, keep motivated, and feature an outlet to specific your personal working out of subject material. So, keep attached thru message forums, chat rooms, e mail, and different digital assets. And take note lots of the other people you meet in faculty shall be conceivable process assets down the road so determine connections and keep in contact

Florida National University gives a wealth of tutorial and professional online classes. Check out the entire choicesyour long run is ready

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