I am a new forum member and I am new to options trading as well. currently I paper trade with thinkorswim.
I am approved only for covered calls and cash secured puts in my "real money account" however I have yet to "live trade". I am buying/selling calls and puts with paper trades to learn all that I can. I hope to have my live trading choices expanded to be able to buy to open as we'll, or I will go to another company.
I am not confident enough to sell puts and sell covered calls with real money. I have been buying puts/calls via paper trading for about a month now. I want to learn more before I swim with the option trading sharks. I am grateful for a forum such as this where information can be shared especially for a newer trader like me. I hope I can contribute at some point
I am in the banking industry 25 years but hope to learn and make some good cash to supplement my income and bounce back more from some financial medical expenses and setbacks due to the health of one of my children. Greener pastures ahead, I hope.
As a fellow Clevelander, I wish you all the best! But, your comment (that I've bolded) gives me pause. I can tell you that there are much surer ways of supplementing your income than by trading (a second job, for example). Trading is one of few jobs where it costs most people to work, instead of the other way around.
It is possible to make good money trading, but just remember that most people don't. Trading is really hard, and anyone who tells you it is easy is either lying to you, trying to sell you something, or both.
Thanks for the information sent and your reply. I will surely look at it. I am new to all of this yes, but I do have the guidance of a good friend who has made his full time living as a trader for 15 years so I have his input to help out, which is great. I will move cautiously forward with his help.