Options trading is quite troublesome, it takes discipline, and alot of paper trading to become a successful and profit-making trader. There is no short cut.
Now im making a guess you would like to get into option trading because you hate your current job, or you simply need to generate extra money.
The good new is that option trading can free you from your dead end job, and let you do anything you would like or get anything you want. Average monthly returns of a nice option trader may be between 4% to 7%. Plus considering the effect with compounding, then you can see the potential for making big money with option trading.
However these traders have been in the game for a bit. It takes alot of education and paper trading to get to a profitable stage. You need to study option trading, and why and how it works.
Getting a good education, and hours of paper trading under your belt is critical. When you first start trading with options, you will probably lose money. The money you first lose is apart of the education, required to become sucessful. So if you don’t have money to spare, then options dealing isn’t for you.
The first thing you can do, to start your journey in becoming a successful option trading is getting a foundation course. Getting down the basics, will give you a foundation to build on. Don’t just read a couple books, read as much as you can, or listen to successful traders, who give clues to why they are successful. Once you completed reading a couple books, on option trading, then start to look for a mentor. Mentors are very important in the learning process. Go on option trading forums, and find people who are recommended by others, who mentor.
After you find a teacher, you must start paper trading, also known as demo trading.