While options trading has no formal requirements, investment banks are more likely to hire applicants who hold bachelor's degrees. Movies and TV shows about trading, anecdotal tests from friends and online “gurus” with no track record or professional experience fill people with false hopes and unreasonable expectations when they start trading options. A loss could help you improve your options trading strategy and teach you the importance of risk reduction. The put writing is a preferred strategy of advanced options traders since, in the worst case, the action is assigned to the writer of the put option (he has to buy the share), while the best case scenario is that the writer retains the full amount of the option premium.
As a result, the options trader must be expert in market forecasting and must create options contracts that maximize profits and minimize risk to the client. The answer to those questions will give you an idea of your risk tolerance and whether you are better off being an option buyer or an option writer. Use the options to negotiate one-off events, such as corporate restructurings and spin-offs, and recurring events such as the release of benefits. To increase your experience and knowledge, start trading options with your own capital or make investments for family and close friends.
Investors and traders trade options to hedge open positions (for example, buy put options to hedge a long position or buy calls to cover a short position) or to speculate on likely price movements of an underlying asset. You'd better learn how to trade stock options successfully before you put a penny in the market, otherwise you'll fail. If stocks are two-dimensional with just a simple bid and offer, trading options was like entering the fourth dimension. What initially puzzled me was learning how to trade income options is no different from being an insurance salesman.
Honestly, the size of your trading account has no bearing on whether or not you are a successful options trader. If you're able to develop the habit of objective research towards the beginning of your trading career, you'll improve your trading reflexes and spot inefficiencies quickly.