I want to learn how to trade options. Beginner here. I kinda want to spend the entire weekend learning and start trading with a small amount next week. Best resources, videos, experts? Any help would be appreciated. Thank you.

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It's hard to tell the useful from the crap on YouTube. Some good, some very misleading.

I'd start with the Schwab (Think or Swim) or the Tasty Trade training. If you are starting small, you won't be able to do covered calls as they require buying shares first.

Small credit spreads far out of the money and tracking the greeks will teach you a lot with minimal risk. The greeks will seem confusing at first, but theta, IV, delta, strike and duration are the most important initial terms to master.

There is no rush. You can create a paper trading (no real money) account for free and play.

Don't get caught up in the Robin Hood hype. Real option traders use Think or Swim from Schwab, Tasty Trade, e-Trade, or Interactive Brokers. All have trade desks to help manage your questions and any mistakes you make. All have access to dark pools, multiple public markets, and Citadel. The popular new apps are primarily Citadel, which gives much worse "fills". All are no commission.

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Since you have a Schwab account, you have access to Think or Swim. Simple to stay with that.

I wasn't trying to lose you. I taught financial derivatives math many years back. I used to be affiliated with Think or Swim.

Not to scare you, but approximately 80% of first year options traders trades are losers. If you use debit spreads and diagonals (more advanced version of covered calls) you need to be about 40% correct to break even.

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hear me out… reddit and youtube. lots of valuable info. i suggest youtube first so you can filter out garbage on reddit when browsing thru lol

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no problem! happy to discuss more via dm if needed

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I recommend some of kamikaze cash’s older videos. Video the the Greeks, the wheel, covered calls, iron condors etc. He’s now pivoted to much less interesting mass-market clickbait content, but the old stuff is good. After that, Tastytrade (the brokerage) has a lot of more in-depth videos.

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I would recommend start by doing paper trades, track them in spreadsheet. Do this for at least 3 months. You can do 100s of trades and perfect your strategy without risking any money. I did this and learned to be successful on 85% of my trades. But my losing trades wiped out any gains I had made. Good luck, I hope you do better than me.

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Where are you from? I can recommend some training and even weekend bootcamps yo learn about Options.

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Options Alpha on YouTube

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