During the past month we've welcomed in thousands of new subscribers over at Power Profit Trades.
Many of you have started out with "paper trading" on my picks and are excited at the prospect of pocketing the gains in real time.
Taking advantage of technologies that veterans like me didn't have when we started trading is a great idea! I know it's not like real trading, but one of the things using a "virtual" account will do is help you get familiar with order placement through the platform you intend to use BEFORE you commit real money.
For those of you already on "live" platforms, congratulations! You're already enjoying gains.
Beginners are also working through the "how to get started" phase of investing in options. In fact, the most common question I get is "how do I open an account?"
For those of you not yet receiving Power Profit Trades, or for anyone who hasn't traded yet because of concerns over opening a live account, let me take the fear out of what is an easy process.
Just follow my lead...
Since moving to New York City back in the early 1990s, I've witnessed incredible changes in brokerage firms and the financial services industry.
Back then, it took weeks to get an account opened, most trades were done over the phone, and commissions were unbelievably high.
In the last 20 years, however, due to competition and technology, all three of these things have drastically improved for the retail trader. Competition has driven commission prices down to levels that are barely factored into risk and reward these days, and technology has allowed us to get instant quotes and fills in the blink of an eye.
For the new options trader, it all starts with opening your first options account. The good news is that opening up an options account online is quick and easy.