Thank you for pointing out the SEC rules. Do you mean the document here? I'm going to start reading it this weekend. Anything in specific I should pay attention to?
OP is not gambling, OP is taking risk, trading options using a method he/she believes gives positive expectancy. I give OP credit for studying and reading up before started to trade. Good luck and welcome to the option traders club.
Thanks for all the great replies! I wish I had time to reply to each post, but I'm looking for a new spread. I must say, y'all are way nicer than most forums... A newb like me would probably be trolled out of another forum by now. I'm getting a huge psychological takeaway from the thread and I'm interested how I'll respond when the market eventually goes against me. I'm aware that the risk I'm accepting would be considered more of a gamble than an investment. I keep my positions small relative to my bankroll. I'm gonna read SEC 15c3-1, but I'm gonna keep trading even if I haven't read it. I'm looking forward to chatting with everybody and hopefully making new friends. Thanks again everyone!
Damnit, don't go pizza and stuff...Take pizza to a different forum. Destroy death hell. Can't get into it here, this is option forum. *bristles*
Actually, sometimes I wonder if I should take gains on a spike, or if I should hold and squeeze every penny until expiration. So far, I've squeezed every penny. I welcome any decision criteria on this.
OK, so I started reading and so far it is a bunch of stuff for broker/dealers. Is there a section I should focus on?