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January 26th, 2014 at 8:31 am
~crs101010
Welcome to the club of Philstockworld. Well advised to take thinks in small steps. The USO trades are not the most recommendable trades for beginners. I have been trading them myself sometimes forgot about them and missed the boat. Overall on my trading record sheet I show a reasonable profit over some time. But you have to watch it all the time.
My records I keep at present on a special excel platform which is handed out by ricoveru@cox.net .
Rich covers a trading system of covered call writing which is a field on it's own, following more the 1000 div. plays some stocks held for more than 1 or two years. His philosophy is you should get paid while holding a stock by selling CC writing in good and in bad times of the stock's paper position. Strangely enough you can follow his trades over a year sometimes and find the stock has done a full cycle from high low back to high again. His membership fee is 19.90 a month and I think it has its value just using and adapting his trading platform in which you can update your stock values on a daily manor regretfully it does not up date the option positions. Rich give good ideas and logic on his trading. The platform links the excel worksheet with a live trade provider like yahoo.
Option Oracle used to do the same on a free bases but regret after many tries I can not get to do it any more on my window 7.
Phil uses a platform from Power option a very good but somewhat expensive platform where you can work as well on some very good future possibility trading results. The problem with this one is if you stop paying your monthly fee you lose your complete records which is not the case with Rich from CC writing. I regret not being such a computer wizard to work over the links between excel and a trading provider in stock and options.
Possible some one on this board has the savy to set it up and sell it for a fee, which I think many will gladly pay for. As it is always good to know where you actually stand on paper at a days closing.