The complete options training course
By Simon Gleadall, CEO of Volcube.
Learning about options and options trading used to be a matter of finding a book on options theory and reading it! Then if you were lucky enough to be sitting on a trading desk you could watch the senior guy next to you and try to learn by observation. And if you weren’t in the markets at all, you would just have to make do with the book!
Thankfully, times have changed. There is now a wealth of information about options trading available online (not least here at www.volcube.com in our Resources section) and some great insights from real traders via blogs and news sites. Even so, this still left a gap in most options training courses: the practical experience of trading. Volcube however has changed everything in this regard because its users can practise option trading in a risk-free simulated environment that is available 24 hours a day through any compatible web browser. When a senior trader is interviewing a potential new hire, he is unlikely to be impressed if the candidate has ‘heard of’ a straddle or if he can give a definition of a call option. Where Volcube gives its users the edge is that they know what it feels like to trade and risk manage a straddle. Big difference.
Volcube started out as an options market simulator. Derivatives trading firms loved it because it was easy to use but sufficiently realistic. But what they really wanted was a simulator that actually taught people. Most simulators or paper trading accounts don’t do this. They let you make simulated trades, which is great, and you can track your profit and loss. But what they don’t really tell you is how you are progressing. How is your understanding of options trading improving? And where are you making mistakes?
So we did several things to Volcube. We added the Volcube Market Mentor which is an intelligent help agent that is right there with you in the trading session. As you play in an options simulation, the Market Mentor looks at your position and gives you intelligent help about how to price options, how to reduce your risk, what trades to look out for etc. It’s the kind of advice a senior trader might give you if you were sitting next to one; and Market Mentor doesn’t even expect you to fetch it lunch!
Next, we added a scoring system (Volcube Trading Performance Index) that actually grades your performance in each game. This takes into account several factors and has become a benchmark for many firms in the industry. Hundreds of professional option traders around the world and of varying experience have carded up a Volcube TPI and this meant we could be sure that it was a meaningful number. Now anyone can play on Volcube and see how they compare to professional option traders as a Volcube Options Trader.
A complete options training course teaches you the theory of options, gives you realistic practical experience of trading options, gives you lots of feedback on how to improve and let’s you benchmark your progress. Volcube does all of this and what’s more, it even means you can earn a Volcube Options Trader certification, by trading well enough to complete the different Levels.
Volcube is an options education technology company, used by option traders around the world to practise and learn option trading techniques.
Volcube : options education technology
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