Hey everyone, I've been studying options for about 3-5 months now, depending on what counts as studying , and I think I've got a decent sense of what's what. I'm still studying how to do Technical Analysis, and I'll get there relatively soon, I think. This is not a thread asking about the fundamental rules most traders know (limit losses ALWAYS, do you proper research and due diligence when investigating a stock, etc.), this is more of a thread for specific questions that kept popping up as I was reading. When I was reading up on the various ins and outs, these questions kept recurring: -It seemed important to learn and test strategies before putting money on the line, and I imagine this meant paper trading this and that to see what happens. My question is what sort of software (free is better, but it doesn't have to be) do you guys use to do your analysis, and what have you found has the most intuitive interface? -When creating rules for entering and exiting a trade, and yes I know this has a lot to do with my personal particular requirements and such, what are some typical rules you guys use to determine when to enter and exit a trade. I'm talking specifically about stuff like "Once i have made x% profit on a trade, I get out" or "if an option drops by y%, I get out." -When you do decide to get out, what are the mechanisms by which you go about doing it? (Y'know, which buttons do you click or commands do you give?) -How do taxes work with options? Is there a way to structure one's accounts or entities so that it minimizes the resulting tax burden as much as is legally possible? -What do you consider to be "First Principles" when it comes to trading? First, I think it's generous for anyone here to offer up any of their thoughts, and I don't expect anyone to answer every single question, and that instead answer as many as you feel you would like to. Any thoughts?