How To Increase Income - Using The Right Broker

If you want to become wealthy and/or increase monthly income, you need to choose the best stockbrokers, centered on your trading approach.

Back several years ago when I was searching for a very simple but financially rewarding trading method, I made the decision that options would probably be a first-rate choice. But I was having a major dilemma picking which option approach would be best for me! Options have several factors such as time to expiration, volatility of the underlying asset, current value of the underlying asset, etc.

I am extremely visual and there was no way I could easily see the true worth of my option as time moved on, or as the volatility changed, or the fundamental asset value changed. I studied a lot and understood that I needed a 'Real Time Risk Profile graph.

I considered about 12 brokers and oftentimes they had no risk profile graph or the charts they had were confusing to read and not simple-to-use. I was planning to hand over $200 to purchase a risk graph profile product which was not real time. Luckily, another attendee at an investment workshop I came to highly recommended I look into 'Think or Swim'.

Well at that time the name sounded weird to me, but I checked them out and discovered they had an Top Notch risk profile graph. And it was Real Time, i.e., the options value were uploaded real time. AND they showed two value lines, one for the options current value and one for the options value at expiration. I tried several different option strategies that I could 'see' how their prices changed with the market. Thanks to this I was readily able to come up with an iron condor approach that yields a continual 10% per month.

The additional significant advantage that Think Or Swim includes is real time pricing of an option strategy. They visually clearly show you the high and low offer/bid cost combined with the 'mid' cost so you have an understanding of where you will want to place your bid. This is important for you to attain the best buy or sell price for your option method. If you choose, you have the ability to place a bid with a 'live' broker. 98% of times I depend on the online trading mechanism, but there are times I really need to speak with someone who has straight accessibility to the trading floor.

In addition, they have great service. If you have a inquiry, just email them and you will typically get a reply back within 15 minutes.

Are there other brokers who are cheaper - sure! But you are transacting with your money and you will want to choose quality instead of pricing. You could quite possibly save yourself a few bucks on the trade execution, BUT lose much more bucks by getting a poor fill. Think Or Swim is now a part of Ameritrade, but their main busines is options.

I receive no payment of any sort from Think Or Swim, so there is no prejudice. They plainly give you the best product for any person trading options!

Now, even though you have a superior broker, it is up to you to trade correctly. If you might surely have the 'get-rich-quick' thinking you are likely to absolutely not acquire riches. In order to achieve abundance you need to recognize that the slow steady approach will in reality get you there. Above I divulged to you that because of Think Or Swim's risk profile chart, I produced a method that makes me 10% a month. If you have now the get-rich-quick philosophy, you will without doubt jeer at 'only' 10% per month. But basically because of compound interest, if you commence with $3500 and acquire 10%/month, in five years you will have over ONE Million dollars.

I know that there are individuals claiming they produced 150%, 200%, etc. on an option transaction and that can be possible. BUT what they don't tell you that it happens only almost never and that they normally have losing buys and sells. So don't be sucked in by their sales 'lies', and go for the slow but dependable approach to prosperity.

About The Author Richard Grassi has a BSEE from USC and an MBA from U Texas. He has been teaching his family and friends for several years how to increase income by using his Simple 3 Step System which also builds wealth. NOW you also can eliminate all your financial problems and slowly but surely become wealthy. Learn more at his website: => http://www.monthlyincomeguy.com