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Pretty Cool

I’ve never taken an online course of study, before. Sure, I’ve researched a million things on my own over the years and sometimes scanned through dozens and hundreds of pages on a single topic. It’s really remarkable how quickly you can become conversant on virtually any topic within minutes, if you know how to use this vast Internet resource and you’re not so dumb that you believe something just because it shows up on a computer screen.

I’m beginning to lightly dabble in the area of currency trading, having finally settled in on a profitable options trading strategy that nets a pretty consistent 5-10% return per month. Problem is, it’s boring. It involves trading bear call spreads and bull put spreads on the SPX, which is the index traded fund representing the S&P 500. Essentially, you make your plays at the beginning of the month and wait for the options to expire. These are credit spreads, so the option you sell is more valuable that the option you buy (as a hedge), the difference being the credit that you keep. So long as your spread stays out of the money by the time the options expire in a few weeks, you walk away with the credit you earned at time of the transaction. The cool thing is that if things start to go wrong, there are numerous was to defend your position. But, it’s generally pretty boring. This is good, since I don’t have time to monitor positions all day long.

Currency trading is 24×7. You can literally log in at two in the morning anywhere in the world and trade currencies online. And, currency trading is very suitable for making very short-term trades, like only being in a position for a matter of minutes.

So, with my background of education in stocks and options, which consisted of books, DVDs, and personal coaching, I decided on a "power-course" in currency trading through FXCM. It’s online, and the format is very interesting. Essentially, they use a contemporary BBS sort of interface where an initial post is made and then there are replies and follow-ups. The instructor posts the lesson, which really resembles a classroom lecture with illustrations on the whiteborad in the form of graphical images. Students then post replies in the form of questions and the instructors follow up with more detailed information/clarification, and even more graphical representation.

It’s slick as hell, and best of all, I can go back and review all the lessons and questions and detaied answers as often as I like. What’s more, I can take the lessons whenever I like. This isn’t happening in real time. For instance, I’m reviewing Wednesday’s lesson right now, on Friday. If I think of a question, I can still ask it, the instructor will post a reply, and other students will be alerted that there’s a new question and reply on that previous lesson when they next log in.

I’m only just getting started with it, so maybe an update in a week or so.

Richard Nikoley

I'm Richard Nikoley. Free The Animal began in 2003 and as of 2021, contains 5,000 posts. I blog what I wish...from health, diet, and food to travel and lifestyle; to politics, social antagonism, expat-living location and time independent—while you sleep—income. I celebrate the audacity and hubris to live by your own exclusive authority and take your own chances. Read More

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