The Key Steps to Your First Options Trades

During the past month we've welcomed in thousands of new subscribers over at Power Profit Trades . Many of you have started out with "paper trading" on my picks and are excited at the prospect of pocketing the gains in real time. Taking advantage of technologies that veterans like me didn't have when we started trading is a great idea! I know it's not like real trading, but one of the things using a "virtual" account will do is help you get familiar with order placement through the platform you intend to use BEFORE you commit real money. For those of you already on "live" platforms, congratulations! You're already enjoying gains. Beginners are also working through the "how to get started" phase of investing in options. In fact, the most common question I get is "how do I open an account?" For those of you not yet receiving Power Profit Trades , or for anyone who hasn't traded yet because of concerns over opening a live account, let me take the fear out of what is an easy process. Just follow my lead... Since moving to New York City back in the early 1990s, I've witnessed incredible changes in brokerage firms and the financial services industry. Back then, it took weeks to get an account opened, most trades were done over the phone, and commissions were unbelievably high. In the last 20 years, however, due to competition and technology, all three of these things have drastically improved for the retail trader. Competition has driven commission prices down to levels that are barely factored into risk and reward these days, and technology has allowed us to get instant quotes and fills in the blink of an eye. For the new options trader, it all starts with opening your first options account. The good news is that opening up an options account online is quick and easy. But before you get to that step, there are a few things you need to understand first... Tags: how do I trade options , how to get started with options trading , how to trade options , options trades , options trading , steps to begin options trading To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2015 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post The Key Steps to Your First Options Trades appeared first on Money Morning - We Make Investing Profitable .