soo true.... I could make 100% + a day paper trading options, at the expense of blowing up several accounts before the big win, now if I did that with my real account I'd be eatting out of a dumpster right now.
Also comms/slippage arent often included when paper trading as most paper traders dont think they are worth including!!!!
Did you notice on the Option House "smart execution" that each individual put or call has the 9.95 minimum. So on the 4 legged spread that is illustrated there is a commission of 39.80. Not as good as they make it sound.
TERA NOVA... great firm for options. How can one pay 9 bucks for an options trade? That is insaine. unless the trade is a 900 lot. Hell, even a buck a option trade is crazy. (both sides). how in the hell do you guys find an edge in trading high commission prices in options? I mean a cancel trade in options can cost you a buck,depending on what Exchange you pull the order from. Now if your an investor...buying leaps...... I might understand paying up 9 bucks for a trade...if you do not have the capital to open a IB account or get with a clearing firm like Tera Nova. Then again, you shouldn't be trading if you can't open an IB account. Leave your money in the 401k
TOS account minimum is beyond the OP's limit. I think it is $3500. ETA: But they are a great broker. I have an account there myself.
The question posed by the OP is disingenuous...NO ONE opens an options account with $1000 Even FX I think one needs $3000 to trade (and blow up in a week!) Options trading is serious business with greater risk/reward than trading equities. A solid foundation in equities/markets PRIOR to trading options is essential, and coming into option trading after having SUCCESS in trading equities is the only way you will make money. MUCH MUCH better question would be what are the steps to take and how much total capital should I save up when thinking about trading options. Once you have the grounding and funding to trade options THEN and ONLY THEN ask about a broker!!!!!!
Your statement is pretty arrogant from someone who I reckon has never traded an option in his life. Probably the best way to lose a bit of that is to blow your 1k or whatever you have at the moment to help you realise it is tough here.
It is hard to place combo in IB. Commission is lower in IB. TOS is easy to place combo orders & u can call to ask questions free.
I TOS after typing in the stock symbol, click whichever combol, open the month & click ask to buy. all I have to do is send. in IB after watching the webaire, I still can not get it. The interface is not so friendly to me.