Submitted by ByronR02 t3_zmfokd in StamfordCT
jjb5151 t1_j0bviam wrote
Hey man - So what exactly is your knowledge of options/trading in general? Are you currently in school studying finance to work in the field, and understand all the factors that impact an option as well as the risk?
Overall, I'd say to just stick with buying solid companies (or Index tracking ETFs) and holding. You're 20 and if you start now with this strategy you can easily build a solid portfolio over the next 10 years using some dollar cost averaging and reinvesting dividends. If you're hell bent on options, you can always do some covered calls if you're trading a name. Besides that I'd stay away from the WSB type trading. Options can make you money quick, and can lose all your money quicker. I've been working in the HF space for 7 years now since leaving school and I can tell you the way these traders understand derivatives and markets vs your average joe is night and day. Feel free to PM me to talk more on it.
ByronR02 OP t1_j0kapgt wrote
I’m not in school but I’ve watched a lot of beginner friendly YouTube videos. I’ve also read a few books on options trading and strategies. Since my plan isn’t to get rich fast but build wealth over time I think I will listen to a few of the comments advice and invest into an ETF and slowly build up my portfolio with companies that I like and think will do well in the future.
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