Options are very powerful instruments once you get a thorough understanding of how they work. However, they are very risky and only when you are ready, should you decide to trade them. A whole portfolio can be wiped out in a mere seconds and in my journey trading options, I have lost some money. However, I have gained more than I have lost. As a matter, of fact I took my account at Robinhood to $5ok+ this year. Look at the screen shot below (*all  my trades are real and verifiable for all the doubters out there*) I started with about $4,500.

Rules in Option Trading

1. Only invest money you are not afraid to loose
2. Always set your profit target in your mind and do not be greedy. 
3. Always capture your profits
4. Minimize losses and cut loose bad trades as quickly as possible
5. Adjust your option trading strategy as needed
6. Never buy option contracts that are way Out The Money
7. For a particular stock, make your trades on a catalyst driven event
8. Never have more than 5 positions open
9. Study all your trades to learn from success and failure
10. Don’t trade blindly

Learn the 10 steps to profitable trading today!