What I recently have on my mind is that learning how to be a successful option trader and learning how to 'make money' is very different. Like, you can be right for 99% times of your trades, and somehow the loss from the other 1% can give you a margin call. That's a ridiculously simple example, there would be a lot more complications beyond that. Any opinions on this? I'm thinking of conversing with a poker player and asking him questions like when should I raise, and by how much.
The word "successful" will have a very different definition from everyone here. If your trading as a business, [successful option trader]=[make money] If you lose money, how can you consider it successful? To me, P & L for the risk level you took is all that matters. If you make a lot of money doing a lot of "gambling" over a short period of time, it will come back and overwhelm you. If you grind out profits with consistent money making trades, you have a profitable business. Then you will be successful.
You may want to read these two articles. http://www.optionsweekly.com/category/option-trading/ Take it from an options day trader, swing for singles not for home runs. We don't have the money to be betting on a black swan like Taleb.