Lately, I have seen many bloggers and local YouTubers dive into the world of options, so I have decided to join in the fray. The world of options has been my playground for the past few months as I have been learning and doing some paper trading on the Thinkorswim platform. However, nothing could beat putting my chips on the table: the simulated trading experience was incomparable to investing with my own cold hard cash. Because no money was involved in paper trades, I lacked the financial discipline to monitor it on a daily or regular basis; hence, it wasn’t easy to pick up the ropes of option trading.
For me, the biggest hurdle in starting to trade was finding out how to transfer funds into Thinkorswim. I believe it’s the same for new investors who have yet to start trading because picking the right brokerage account and puzzling out the paperwork is sort of a road block...