Million Dollar Contest

So today I have been a little distracted from trading options by the new Million Dollar Portfolio Contest over at CNBC.com. Let me tell you though, I wish these options from The Niche Trading System were available to trade in the contest. I strategically picked out my portfolios for the contest, yet I’m still not getting the kind of gains I do when trading options.

I’m going to do some trading with the system in a little while, after all we trade to make money and chances are this contest just isn’t going to cut it. I also found one of the first reviews on this system other than mine today, here is the link.

Well I hope everyone has good luck on what stocks to pick for the Million Dollar Challenge. I will keep everyone updated as I continue to review The Niche Trading System, and hopefully about success with the Million Dollar Portfolio contest as well.

End of First Trading Week

Well, all I can say is the past few days have been a wild ride. Although, I am glad to say the week ended with a net profit of $550, starting with only $100 in the bank account. Unfortunately my returns should have been a little higher; I just couldn’t help diverging from the risk management laid out in the system. It is just so hard to say no to 1000% returns on slightly riskier investments.

Unfortunately the software doesn’t compile each statistic for the profit of each trade, but I will continue to work on a way to better illustrate my trading from each day. I know it has been a couple days since my last post, but once I find a reliable way to show my results I will try to post them from every trading day.

Meanwhile, if you are interested in using the system, support the blog by using the link below to get your copy of The Niche Trading System.

My Affiliate Link, thanks for supporting this review!

$125 in a couple hours, not to shabby

So today was a fun start to the beginning of using real money to trade these options. I managed to turn the first $100 I deposited into $225 in just a few hours of the trading day. I decided I would start with only $100 in the account as a learning amount and will continue to only trade with $100 until I can get completely familiar with the system. I was completely shocked at how high of returns I could see on such a small amount of capital. I am very anxious to start trading with higher capital, those profits should be unbelievable. 

Ready, Set, Go!

Well today marks a special day for this site as I have finally completed all of the work needed to begin trading. I have gone through the system thoroughly, taking notes and customizing my own trading plan as the system suggests. Then I continued by setting up my account with the Nadex exchange, the suggested exchange according to The Niche Trading System.

After spending some time getting myself familiar with the trading platform I decided it would be best to get some good sleep before beginning to trade with real cash. Bringing me to where I am now.

If I had to take this time to say one thing about the system, it would be explaining how intrigued I am by the simplicity of it. It seems that anyone with a minor background in the financial markets could easily get their head around this system. After day one of reading through the system I can definitely say that this will be an interesting journey while working with this system.  

Sticking to the Plan

So over the past day I have been carefully going through my newly purchased copy of The Niche Trading System. So far I have briefly reviewed the whole thing but I am going through it carefully now in order to work on my personal trading plans, which brings me to an aspect I really appreciate about this book.

Not only does this system teach the strategies needed to become profitable while trading these special options, but it also emphasizes the need for a plan and the importance of sticking to it. Throughout all of my careers I have found that nothing other than extensive planning can guarantee success more. The Niche Trading System exclaims the importance of a plan and even gives its readers a professionally written plan to use as a template. Although I am following the systems instructions on rewriting my own plan, it seems very plausible to use the completely finished plan that it comes with.

Well I am going to get back to determining which entry, exit, and risk management strategies are right for me. Once I get past this point I will get registered with the exchange and come back to give you all another update.

A Little About Myself

                Before I get started with my reviews of The Niche Trading System I think that is important that I go over a bit about myself and my credentials as a trader.

Early in my college career I became interested in trading the financial markets. This led me to reading a vast amount of financial books with an underlying connection to trading the markets. I began trading stocks with little avail. It seemed to be that I just didn’t have enough capital in order to bring in returns that made my time worth it.

Later on I began trading with leveraged forex accounts. I found that this method was much more beneficial as I could actually bring in returns that made the time trading worthwhile. Although I finally found something I could profit consistently on, I began getting tired of counting my earnings in PIP’s very quickly.

This led me to my research on other types of financial instruments. I started learning more about options and futures until I stumbled across something called exotic options. These are a whole collection of option based financial instruments that range in trading difficulty from unbelievably easy to trade all the way to “I think I might need to get a PhD for to trade that.”

Once I learned more about these exotic options I realized that these were the financial instruments I have been waiting for all along. The returns are exponentially larger than the returns seen with basically all other financial instruments while being some of the easiest to trade. Not to mention, these options can be traded with expirations ending every hour of the trading day. This means that you can go through complete trades with large profits many times every day.

Basically, when I learned about the awesome potential of exotic options I decided to try out The Niche Trading System, which brings me to this review now.

The End

Welcome Everyone

Thanks for checking out "The Niche Trading System Review" blog.

The purpose of this blog is to review "The Niche Trading System" by www.tradetheniche.com. I began by researching systems for trading exotic options and found that very few systems actually exist on the market today. I thought to myself “since I bought the system, I might as well blog so I can track my progress and share the results with others.” This way, if the system works out for me, I can join the affiliate program with a site that already has some followers.

Every so often I will be posting updates on how implementing the Niche Trading System, as well as the actual results from the system, is coming along. I will post as much actual information on the system as I can. Unfortunately, a lot of the book has security features to stop copyright infringement. This means I am going to have to be careful what I post but I will do my best at giving you as much information as possible. As you could guess, I don't want to get in trouble for just trying to put information out on something that has little literature currently written about it.

One of the most exciting points about this system is that you can start trading with as little as $100. For this review I will be investing at least $500 into the system, which is substantially less than the thousands you need for most other systems to make worthwhile profits. This system is also very cheap compared to other comparative systems on the market.

After I complete my review I may decide to become an affiliate since this is a new system in a niche market and then those of you who are interested in trying to mimic my results can support the blog by just clicking a link.