As I mentioned in the previous post I was on the road since Thursday on a trip to the Detroit area. Mrs. J.R. and I decided to mix a little business and pleasure for a change so we attended the free Thinkorswim class being offered in Detroit on January 29th. We stayed at the Ritz Carlton in Dearborn where the class was being given and managed to squeeze in a couple nice dinners and take in a few sites (mainly shopping with the Mrs.)
As for the class, once again the Thinkorswim team did a marvelous job of presenting their trading platform and their educational program of Investools in a manner that was understandable as well as enjoyable to both beginning traders and experienced traders alike. There were over 130 people attending and over 50% had more than just a basic knowledge of options. Did I mention this was free.
The first instructor was Bob Groves. He did an excellent job of showing what the TOS platform was capable of and how easy trading options was on it. He gave several trade examples such as vertical spreads and iron condors and showed how to use the platform to find and execute them. He also shared with us the 10 biggest mistakes that traders make, which are;
1.Trading without a plan
2. Unrealistic expectations
3. Cutting profits short and letting losers run
4. Impatience leads to over trading
5. Improper position sizing
6. Lack of diversification
7. Trading illiquid products
8. Timing tops and bottoms
9. Trading against the trend
10. Focusing on being right
Ever made one of those mistakes? If not then you are not trading the in the same world I am.
Bob also gave us a brief but good run through of the Greeks where by most of the beginning traders probably left with a better understanding of delta, gamma, theta and vega than they had before arriving.
The second instructor was Kim Crowther. He gave a very good presentation on the bells and whistles of what Investools has to offer. He spent a lot of time covering the investors tool box and how the variety of searches there can help you find the stocks you are looking for in any market condition. He also spent some time covering the 7 step investing formula which is part of the basic education package.
At no time did either instructor make any claims that by using their products a trader would make any particular percentage growth to their accounts or that they guaranteed you to become the next Warren Buffet. As a matter of fact, out of the seven hours we spent in class only about 15 minutes were spent on promoting the sale of the basic package. So where was the catch? To make their clients (me and you) become better traders by understanding how to use their products, plain and simple.
Just to set you all straight, I am in no way being paid or compensated for this review. This is the third such FREE class I have taken from TOS and will not be the last. Even though I have been trading for some time now it is always good to hear what you may or may not already know for different people with different styles. This is one old dog willing to learn a new trick or two. This is from me and only me as one trader to another.
As for the class, once again the Thinkorswim team did a marvelous job of presenting their trading platform and their educational program of Investools in a manner that was understandable as well as enjoyable to both beginning traders and experienced traders alike. There were over 130 people attending and over 50% had more than just a basic knowledge of options. Did I mention this was free.
The first instructor was Bob Groves. He did an excellent job of showing what the TOS platform was capable of and how easy trading options was on it. He gave several trade examples such as vertical spreads and iron condors and showed how to use the platform to find and execute them. He also shared with us the 10 biggest mistakes that traders make, which are;
1.Trading without a plan
2. Unrealistic expectations
3. Cutting profits short and letting losers run
4. Impatience leads to over trading
5. Improper position sizing
6. Lack of diversification
7. Trading illiquid products
8. Timing tops and bottoms
9. Trading against the trend
10. Focusing on being right
Ever made one of those mistakes? If not then you are not trading the in the same world I am.
Bob also gave us a brief but good run through of the Greeks where by most of the beginning traders probably left with a better understanding of delta, gamma, theta and vega than they had before arriving.
The second instructor was Kim Crowther. He gave a very good presentation on the bells and whistles of what Investools has to offer. He spent a lot of time covering the investors tool box and how the variety of searches there can help you find the stocks you are looking for in any market condition. He also spent some time covering the 7 step investing formula which is part of the basic education package.
At no time did either instructor make any claims that by using their products a trader would make any particular percentage growth to their accounts or that they guaranteed you to become the next Warren Buffet. As a matter of fact, out of the seven hours we spent in class only about 15 minutes were spent on promoting the sale of the basic package. So where was the catch? To make their clients (me and you) become better traders by understanding how to use their products, plain and simple.
Just to set you all straight, I am in no way being paid or compensated for this review. This is the third such FREE class I have taken from TOS and will not be the last. Even though I have been trading for some time now it is always good to hear what you may or may not already know for different people with different styles. This is one old dog willing to learn a new trick or two. This is from me and only me as one trader to another.
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