FoodieTrades

Beginner’s guide to options trading

FoodieTrades

Start your journey.

Are you insterested in trading, but don’t know where to begin? Have you started trading, but feel lost? This site will help provide you with the necessary tools to begin your journey. There are many free resources or cheap resources in the web that can be used to get started in your investing & trading journey.

Study Plan

There are a lot of resources on YouTube that offer great videos on learnings different strategies, but sometimes it’s hard to know where to start or where to go. Here are some sources that may help you understand.

The wonderful thing about trading is that there is no one-set strategy fit for everyone. Here are a couple of resources that you may learn to find the one that fits your trading style.

Beginner Charting

Beginner Options Trading

#theStrat

  • Sara Strat Sniper Playlists
  • Adex Beginner's Guide to #theStrat
  • Adex Public Lessons

ICT

Helpful Links

Weekly Analysis

I post my weekly analysis on the market here. It’s for informational purposes ​only, not financial advice.

Watchlists

Helpful TradingView Watchlists

Think or Swim Scripts

Preparing for the market

01

Chart Indices & Futures (ES, SPY, NQ, DIA, QQQ, VIX, DXY, etc.)
This will help you find the direction of where the market is going.

02

Chart Sectors (XLB, XLK, XLY, etc.)
This will help you see which sector this market is moving in and out of.

03

Chart tickers within sectors.
If you see certain tickers within the sectors that look strong, you can find great plays in there.

04

Look for setups with the most confluences (EMA’s, trendlines, strat setups, etc.)

The more confluences you have, the more likely the trade may go in the direction you want it to go.

05

Once you find the tickers you like, look for option contracts to make sure you have favorable greeks, implied volatility, volume and open interest.

06

Do a look back on what moved the market the previous day. Was there a big event or did we chop? It’s important to see where we are on the daily or weekly timeframe to gauge where we are going.

07

Look for catalysts that may affect the tickers you selected to trade. Earnings, Overall Economic News (CPI, Fed Rates, etc.), Ratings, Company Events can add additional volatility to your tickers.

08

Review your rules and mentally prepare for the day.
Make sure to rewrite your rules to make sure you follow them.
Morning meditation is a great way to mentally prepare for the day.

Study Curriculum

FOUNDATIONS OF STOCK TRADING: Click here to learn the essential topics. Think of it as homework. Follow at your own pace. 

Journaling

Journaling is one of the most important parts of trading successfully, yet it is overlooked by many traders, specially beginners. Here are some tips to help in your journaling.

Explain what you did well and what you did poorly and what needs to improve.

  1. What trade did you take (was it called out or did you find it)
  2. Compare your entry, stop and exit to the IDEAL trade you would have taken.
  3. What did you do well and what were your mistakes?
  4. What will you do tomorrow differently?

You can mark your entry, exits and notes on your TradingView chart or print them out and mark them up. Save them on a binder and go back and review.

Study Curriculum

Books that deal with trading psychology are necessary to help with your trading journey. Here’s a recommendation of a few I have read.

  • Trading in the Zone by Mark Douglas
  • The Zen Trader by Peter Castle
  • The Best Loser Wins by Tom Hougaard
  • Think and Grow Rich by Napoleon Hill
  • Atomic Habits by James Clear
  • The Compound Effect by Darren Hardy
  • The Mental Game of Trading by Jared Tendler
  • Discipline is Destiny by Ryan Holiday
  • The Mountain is You by Brianna Wiest
  • The Organized Mind by Daniel Levitin
  • Mastering the Market Cycle by Howard Marks
  • How an Economy Grows and Why it Crashes
  • Volume Price Analysis by Anna Coulling

Contact

Join our Discord Community. Learning to trade by yourself can sometimes make you feel lost.

If you’d like to be part of a community that focuses on discipline, education, live trading and overall a fun environment, please click here.

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