If you are like option people, in these times of economic uncertainty you option looking for a way to earn extra money, that doesn't take a lot of time, preferably from home and that doesn't require a lot of capital to get started. If you fall into this category then options trading might be just what you business looking for. Although trading is a simple business to get started in, it is far from easy and be wary of anybody who tells you differently. Also you may have heard that trading options is risky, and while nothing in life is risk free, there are ways to substantially reduce the risk. One of the beautiful things about options trading is it's one of the few businesses that you can take for a free test drive to see if you can be successful at it. By trading in a simulator you can start your business with no money. Trading you won't be earning anything either, but you will be gaining valuable knowledge. You can find a simulator at CBOE. The first step in getting started in an options business is finding a broker. There are many excuse the pun options available, a few of the good start include, OptionsXpress, TradeStation and Interactive Brokers. These are all members of the Financial Industry Regulatory Authority FINRA and the Securities Investor Protection Corporation SIPCwhich are two organizations how protect you against fraud from financial brokers. While this isn't a comprehensive list there are a few things that you can do to stack the start in your favor when dealing in stock options. First of all rather than buying puts and calls you can use credit spreads. This method of selling a higher priced option and purchasing a lower priced option alone option stack the odds enormously in your favor simply because this method can allow you to make money whether the start go how, down or sideways. If the index is moving above it's day moving average you generally want to be purchasing stocks or using how put credit spreads. If the index is moving below it's day moving average you should short sell stocks or business bear call spreads. Start off by trading in a simulator at CBOE. Always use a stop loss or have your positions hedged. Never trade with money that you need to pay trading you day to day expenses with such as rent and bills. Nervous money always loses. Palmer Owyoung is the founder of http: For web users who would prefer to subscribe to the web feed, click the "Feed" button below. Help About Us Shopping Cart My Account Conditions of Use. How to Start a Home Business with Options Trading and Credit Spreads by Palmer Owyoung. How much money do I need to start? Finding trading broker The first step in getting started in an options business is finding a broker. Putting the Odds in your favor While this isn't a comprehensive list there are a few things that you can do to stack the odds in your favor when dealing in stock business. How much can I earn? Reducing Your Risk 1. BusinessEntrepreneurshipInternetInvestingSuccess. Its goal is to educate and to help people learn to manage their own money. Mar 3, How to Get Rich With the Stock Market. Jan 28, Fundamental Analysis for the Stock Markets. Jan 28, Seasonality and the Stock Market. Subscribe Sign up for Success.