Bare with me here, got a bunch of dumb new guy --about to shoot himself in both feet— questions that will make you laugh. Not expecting any single person to answer all this. Advice on any of it is much appreciated.
Some people talk about stocks and options as generating cash flow or passive income. Or maybe it’s far more than “some” and I just don’t know it yet. That would be the direction I’m most fascinated with and eager to learn. If you happen to know some great online courses to take regarding stocks and options for passive income, please let me know what they are.
Till now I’ve spent the majority of my time reading and listening to Andy Tanner. Have not yet heard him say the words Iron Condor but other people have said that’s a main strategy of his. Is it true that an Iron Condor can generate long or medium term passive income if properly understood and properly executed? Or, do you have a suggestion for a better angle(s) regarding passive income through stocks and options?
Has anyone worked through Andy Tanner’s online courses and could say if they were effective or not?
Not sure to what extent this part is related to Iron Condors, but supposedly Warren Buffet acquired his shares of Coca Colo in a way that could be considered passive income. Meaning, he sold options for a while, made over 7 million doing this,
and after the strike price hit he bought the shares while they were temporarily below their true value, which meant they would bounce back to normal in the near future. And although he still holds them today, nothing would have prevented him at the time from selling them at a profit, then start the process over on a new stock. If this method is not the underlying concept behind an iron condor, then what is this tactic called? Is there a book, video series or online course you recommend for this approach?
Next... There is a simulator put out by Investopedia which they say mimics market behaviors to help people practice. Has anyone tried this? Did you like it? Is there a different simulator that anyone would recommend? Are there strengths and weaknesses between different simulators?
People also say that you should set up a virtual account so you can digitally “paper trade,” and that way, everything you think you understand in theory will become hands on real world learning experience. Does anyone recommend a particular website or websites for digital paper trading?
And finally, if you had a time machine to bring you all the way back a year or two after you first began trading, have a cup of coffee with your younger self, what sorts of things would be among the MOST important advice you would give?
Please and thank you very much.
Some people talk about stocks and options as generating cash flow or passive income. Or maybe it’s far more than “some” and I just don’t know it yet. That would be the direction I’m most fascinated with and eager to learn. If you happen to know some great online courses to take regarding stocks and options for passive income, please let me know what they are.
Till now I’ve spent the majority of my time reading and listening to Andy Tanner. Have not yet heard him say the words Iron Condor but other people have said that’s a main strategy of his. Is it true that an Iron Condor can generate long or medium term passive income if properly understood and properly executed? Or, do you have a suggestion for a better angle(s) regarding passive income through stocks and options?
Has anyone worked through Andy Tanner’s online courses and could say if they were effective or not?
Not sure to what extent this part is related to Iron Condors, but supposedly Warren Buffet acquired his shares of Coca Colo in a way that could be considered passive income. Meaning, he sold options for a while, made over 7 million doing this,
and after the strike price hit he bought the shares while they were temporarily below their true value, which meant they would bounce back to normal in the near future. And although he still holds them today, nothing would have prevented him at the time from selling them at a profit, then start the process over on a new stock. If this method is not the underlying concept behind an iron condor, then what is this tactic called? Is there a book, video series or online course you recommend for this approach?
Next... There is a simulator put out by Investopedia which they say mimics market behaviors to help people practice. Has anyone tried this? Did you like it? Is there a different simulator that anyone would recommend? Are there strengths and weaknesses between different simulators?
People also say that you should set up a virtual account so you can digitally “paper trade,” and that way, everything you think you understand in theory will become hands on real world learning experience. Does anyone recommend a particular website or websites for digital paper trading?
And finally, if you had a time machine to bring you all the way back a year or two after you first began trading, have a cup of coffee with your younger self, what sorts of things would be among the MOST important advice you would give?
Please and thank you very much.
