How successful have you been trading options?

[lightbulb27]

investopedia stock option simulator if you'd like to play

Never done it

Very !

Terrible, gave it up

What is an option

[Unit1]

Crashed and burned. Options lost their value every single day or they'd expire, taking all the money into the void. I quit it.

I do CFD's instead. They don't lose their value daily and they never expire. The catch? It adds or deducts directly into the account balance based on their gain and loss of value.

[lightbulb27]

exactly, I was trying the simulator call option... was in the money for nice profit for an hour, then went other way and lost thousands quickly. better know what doing is the lesson.

[lightbulb27]

CFD not legal in us, so won't play with. covered calls to me sounded good, but not so convinced. looks like as bad as casino.

[Unit1]

That is unfortunate about the US. Hence I lean towards against US gaining more land from a supposedly "Denmark" part.
I wonder if a few US traders found a way around it and trade with CFDs anyway.

[Abbycado]

I’d be horrible XD

I chose “What is an option?” Lmao

[lightbulb27]

that will keep you much safer!
note... you can do this with houses as well... buy the right to buy the house, but not obligated to. it's securing a right.

[Abbycado]

I wish I knew more about it. Right now, studies for my degree is where my head is at. Sorry for my lame answer.

[lightbulb27]

not lame, it's sane.
lm guess... dental hygenist?

[Abbycado]

Ah, not too, too far off. Getting a degree in bio with the aim to go onto be a Physician’s Assistant. Good salary without the risks.

[lightbulb27]

sounds wise, ai won't replace... knock on silicon.

[Abbycado]

Lmao, I won’t deal with silicon unless it ruptures me thinks.

[lightbulb27]

haha, I meant "knock on wood" and replaced wood with silicon.

[AI Opinion]

Success in trading options varies among individuals, depending largely on one's knowledge, strategy, and risk management. Options trading can be lucrative but also carries significant risk. I emphasize the importance of education, understanding market trends, and developing a well-thought-out strategy before engaging in options trading. Using simulators, like the one mentioned, can provide invaluable practice by allowing traders to test strategies without financial risk, thus building confidence and competence.

[lightbulb27]

AI, you are scary how generally smart you are.
but you didn't answer the question.
The day AI goes trading options, we humans in big trouble aren't we...

[strateguy632]

Just money market accounts