The radio show with Jason has been awesome and since then there are a lot of people (friends included) who have finally decided to try to give this a go. Obviously, when you start you want to avoid a few things that will deter you from even starting.
1. Spending hours upon hour on YouTube
2. Start without knowing how to do this and end up losing money
That being said here are 5 steps that I would suggest to anyone to get started.
1. Sign up for the Shark Pack:
You get access to 1 Beginners Webcast where we cover the questions to help you get started. Second, you get access to two long lessons on Options & Futures with two live trade videos with real money. Sign up here, it's free.
BTW, try to schedule to attend one of them, it takes an hour to do and it's easier then trying to plan that business idea you've been working on for the last two years.
2. Learn the basics of options (calls and puts):
This is important. Don't get sucked into the other strategies when you start. They're confusing. Just learn the basics; What is a call? What are strikes? We have that information here for you on this page. But you can search too.
3. Start reading about candle stick charts:
Don't buy a book. Google it and read a few articles. The idea here is to get you familiar with the lingo, don't worry if it's not clear, just start surrounding yourself with some basic terms. This is like learning a new language...so learn the basic phrases.
4. Open a Think or Swim Account:
You can get a demo account with them so you can start practicing. This takes ten minutes. Also, download the iPhone app for it (Choose the Think or Swim One).
5. Follow our YouTube
We put out videos periodically. They're free and are usually less than 10 minutes. Of course it will make no sense but just keep watching them for a while and they will.
Finally, when you're ready you can take a course. This is a process, expect to put in 5-10 hours a week for the next 3 months. Yes, true, it's not 'passive' like real estate but then again you don't need tens of thousands to do this as you do in real estate and second, you can start without having tenants or worrying about things breaking at properties.
This is not a full time thing for most, don't expect it to be, but expect to create an additional stream of cash flow for part time work.
I hope this helped.
