What books and resources do we recommend for beginners who want to learn options without wasting time?
None. Just get started. No courses, no books. Books and courses are simply adrenaline porn without actually doing anything. They delay you actually getting started and are a waste of time.
Instead, open an account with money you are WILLING to lose or a paper trading account. Because, odds are you will struggle. Learn as you trade rather than learning prior to trading. It will give you reference and will make the learning experience a smoother process.
Here’s what we would focus on if we were starting from scratch:
- Trade from a 1D chart
- Expiration dates 3-6 weeks out
- Delta between 0.4 – 0.6
- Buy breakouts above resistance or pullbacks to support
- Tight stops. If support breaks, you’re out. If breakout fails, you’re out.
TLRD; quit delaying getting started. Start and learn simultaneously with a paper trading account or an amount of money you can afford to lose and are WILLING to lose. Reading without any experience is a massive waster of time.