If you are, as this reviewer self-identified, “not a financial person”, but you have always wanted to be, keep reading! Options Trading University’s Starter Package is the perfect vehicle for learning what it takes to become an options trader. The U.S. Virgin Islands-based trading education group seminars went live in 2018 in response to increased demand for workshops begun in 2015 by trader and retired educator Norecia Callwood. While any investment involves risk, a growing number of island residents are discovering this nimble and versatile opportunity to generate multiple streams of income. The Starter Package contains 3 fundamental courses at a discounted rate: Option Trading Basics, Charting Basics and Technical Analysis.
The stock market is unpredictable. This inherent risk inspires reverent caution, even in expert traders. There’s just no way to get around how much you need to learn in order to understand the patterns and trends that should guide your decisions. Callwood’s straightforward coursework touches on some items and stresses others with the intent of eliminating much of the time and guesswork she found necessary as she began learning, sorting fact from fiction, in 2013.
You should have a notebook and pen or pencil handy; you may repeat sections that go over your head. You will view a brief “How-To” video describing the work area and functions of the controls, so that you are able to navigate back to the sections that are most challenging to you to repeat them. You are also provided with downloadable handouts for personal use, and direct contact information if you have problems with your account. So, let’s get started!
Don’t skip the appetizer on the way to Options Trading Basics!
Course One: Options Trading Basics is a great swan dive into market terminology and transactions types. Most of us are already intimidated by the stock market listings that we see in the papers and hear about on the news, with their rows and rows of tiny numbers and arcane words in the column headers. Fortunately, the free Stock Market Basics course has explained a lot of these words to you already; even if you are impatient to get started, you’re advised to take that course before beginning this package. Every bit of information in that little appetizer is there for a reason, and many terms will ring familiar to you as you take on options trading terms.
Once you have a lot of definitions under your belt, there is less to puzzle over once things really get going. And get going they will. You will learn about the trade action types, pricing norms, recommended timelines and how to examine a chart before trading. The training steps backward and unpacks each of the terms after you’ve just learned them, too. You will then move on to the factors that determine a stock’s true value. Light will begin to shine on the chart you saw for the first time, each time you see it again. Your understanding of the columns and rows of tiny numbers will grow. It helps to be able to replay sections of the course, which makes it a self-paced learning experience.
Plot your course with Charting Basics
Course Two: Charting Basics is for when you’ve gotten comfortable with the visual trading environment. Callwood channels your focus, because by now, you realize that you don’t know what to do next with all of this information! It is in this second course that you are taught to spot trends. You will be introduced to analysis tools and resources included in TD Ameritrade’s award-winning Think or Swim® platform and paperMoney® (which allows you to practice with virtual money at no financial risk). In this course, you will go more in depth regarding transactions. You will also learn to spot trends and stick to best industry standards for reducing risk as much as possible.
It is not possible to guarantee a profit all of the time in any financial venture, but knowing what to look for can help you to jump in or out, or automate activities based on thresholds that you set in advance. You’ll learn to manage your time and attention and how to interpret different graphical representations of market activity. Once you begin creating your own charts, you are urged to back them up for they will become part of your portfolio environment. This course is also terminology-intensive, but you don’t have to memorize it all — use the visuals, your own notes and the downloadable reference files to support you in your practice.
Use Technical Analysis to bring everything together
Course Three: Technical Analysis is really what you came for, but your head would have been afloat with so many different terms and processes. So you needed to get your foundation. You will reference your notes and repeat segments, but mostly you will back up the concepts you have learned. The key to these courses is their simplicity and insistence on no wishful thinking, only informed decisions. By now, you have learned how to spot a bullish (aggressive) or bearish (cautious) market or stock with a glance and have become familiar with industry standards for working within acceptable risk margins.
This course reinforces the use of charts that you will eventually create yourself using pre-formulated analyses. Once applied, statistical data is put to use in generating various views for tracking volume, pricing and long-term trends. If you back up your charts as instructed, they will become part of your arsenal moving forward. No longer confusing, each squiggle, bar, hill and valley represents a space in time and what occurred within it. From this point, the measurements that matter most to you will become clearer, and you can operate more knowledgeably.
Options trading – it’s not what I thought it was
The image this writer (and admit it, perhaps you too!) had of options trading was of a “seat-of-the-pants” environment where only the most daring become wealthy in the blink of an eye; nothing could be further from truth. The big secret the experts will tell you (if you ask) is that there are neither magic nor personality types that guarantee trading riches. You must start with the fundamentals and commit to practice so that you develop confidence in navigating the matrices that swirl and flow like the weather. Here, the information you need is laid out for you in increments, to aid your steady progress. Norecia Callwood has culled the essentials from a vast array and laid out a path for you. Her approach is clear-cut and tempered with reminders and caveats.
While you may opt to continue on your own, completion of this bundle entitles you to enroll in the Membership Access Group where you are allowed to observe as your trainer charts her own stocks (the weekly Market Recap). You may also progress to advanced and master classes. As a huge advocate for Digital Inclusion, I take pleasure in knowing that high-speed internet access supports options trading and many other entrepreneurial opportunities in the United States Virgin Islands. I highly recommend this course for those wishing to becoming a member of what Norecia has dubbed the Mastermind Trading Team! And, I am no longer “not a financial person.”
Get all three fundamental courses at a discounted rate. Completion of all of the courses in this bundle is the prerequisite to the strategy and advanced courses. Students are also entered into the WhatsApp trading group.
Included: Option Trading Basics, Charting Basics, Technical Analysis
Stock Market Basics Course (FREE)
Learn the fundamentals of the stock market.
— Anita Davis, Editor