Just came across this site and I'm impressed at the advice and background of alot of the members.... I'd like to hang around and participate, so thought I'd introduce myself. I've been trading income option strategies for a couple of years, and after some serious hard knocks to start I've settles on a number of strategies and underlyings and have been profitable for 8 months straight now, and getting better with each trade. I shoot for 3-7%/month and have mest or exceeded that for this last stretch. For 2008, I'm up 40% on capital I had in January (I have put in more since.) Learned the hard way to be much more focused on managing risk and preventing losses than chasing profits, and how to diversify properly to even out returns, and those lessons marked my turnaround more than anything else. My plan is to pay myself as a hedge fund manager of my own funds, on a 3 and 30 plan. 30% exceeds my living expenses. Sound like a good plan? Yes, I'm doing this full time now. I have put alot of thought into trader psychology, and my current concern is dealing with increasing position sizes, but I think I've come up with a good system of metrics to help me sensibly assess risk of a position regardless of position size or how large the raw greeks are. Anyway, just thought I'd give some info, and I'd appreciate any feedback. My next step is forming an LLC for my trading to make sure I'm segrating it off and getting all the deductions I'm entitled to.