Looking for an options trading mentor

Submitted by ByronR02 t3_zmfokd in StamfordCT

As the title suggest I’m looking for a mentor who trades options in the stock market. I’m 20 years old today (happy birthday to me) I’ve been trading options on and off for about 2 years. I’ve made little money but I’ve also lost a lot lol. I don’t wanna say I’m too familiar with trading but I do know some stuff, just not familiar with all the jargon.

I would like to connect with people in my area who are also trading options and can possibly help me and become my mentor.

I am aware that a good mentor will charge for their time and I’m ok with that as long as it’s not a scam or another person like me who barely knows what they’re doing.

I’m not trying to get rich quick I just want to learn from someone knowledgable.

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Neoseo1300 t1_j0b646x wrote

I cant be your mentor but let me give you your first piece of advice: don’t option trade, you will not make money.

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urbanevol t1_j0bl2eu wrote

Free advice: put that money in a low-fee index fund that is broadly invested in the market and don't touch it. Vanguard, Schwab, Fidelity are all good choices. If you start now then you can be quite wealthy later in life. If you have retirement benefits through work, then definitely do whatever you need to do to maximize them (e.g. put in what gets you the highest matching).

Very few people beat the market when it comes to options trading and other types of "active" investing. You will probably lose money. Everyone thinks they will be in the very few.

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jjb5151 t1_j0bviam wrote

Hey man - So what exactly is your knowledge of options/trading in general? Are you currently in school studying finance to work in the field, and understand all the factors that impact an option as well as the risk?

Overall, I'd say to just stick with buying solid companies (or Index tracking ETFs) and holding. You're 20 and if you start now with this strategy you can easily build a solid portfolio over the next 10 years using some dollar cost averaging and reinvesting dividends. If you're hell bent on options, you can always do some covered calls if you're trading a name. Besides that I'd stay away from the WSB type trading. Options can make you money quick, and can lose all your money quicker. I've been working in the HF space for 7 years now since leaving school and I can tell you the way these traders understand derivatives and markets vs your average joe is night and day. Feel free to PM me to talk more on it.

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ByronR02 OP t1_j0kapgt wrote

Replying to jjb5151 (#936,738)

I’m not in school but I’ve watched a lot of beginner friendly YouTube videos. I’ve also read a few books on options trading and strategies. Since my plan isn’t to get rich fast but build wealth over time I think I will listen to a few of the comments advice and invest into an ETF and slowly build up my portfolio with companies that I like and think will do well in the future.

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