Now that you're set up and engaged with the community, it's time to begin your actual trading journey. However, we're going to start with a crucial rule that will significantly impact your development as a trader:

For the next 3-6 months of trading, use only one contract per trade, regardless of your account size.

This extended "One-Contract Rule" is designed to help you develop essential skills and understanding without exposing yourself to unnecessary risk. Here's why this approach is so valuable:

1. Risk Management: Trading a single contract limits your potential losses while you're still learning the ropes.

2. Emotional Control: Smaller positions help you manage the emotional rollercoaster of trading more effectively over an extended period.

3. Focus on Process: With less money at stake, you can concentrate on perfecting your trading process rather than obsessing over profits and losses.

4. Market Exposure: This approach allows you to experience various market conditions across different seasons with minimal risk.

5. Learning Option Dynamics: You'll get extensive firsthand experience of how options prices move and how factors like implied volatility (IV) affect your trades.

6. News and Earnings Impact: You'll observe how external factors influence stock prices and option values over multiple earnings cycles.

7. Chart Pattern Validation: You'll see how chart patterns play out in real-time, reinforcing your technical analysis skills across different market phases.

During these 3-6 months:

• Trade different setups to see which ones work best for you.

• Pay close attention to how news and earnings reports affect your positions.

• Observe how option prices move in relation to the underlying stock.

• Take note of how implied volatility impacts your trades.

• Practice entering and exiting trades based on your predetermined plan.

Remember, the goal of this period is not to make a substantial profit, but to gain invaluable experience and develop your skills as a trader. Treat each trade as a learning opportunity, regardless of its outcome.

Keep detailed notes on each trade:

• The setup that prompted the trade

• Your entry and exit points

• How the trade played out

• What you learned from the trade

At the end of each month, review your trades. Look for patterns in your successful and unsuccessful trades. This regular review will be instrumental in refining your strategy moving forward.

By following this One-Contract Rule for 3-6 months, you're laying a solid foundation for your trading career. You're putting some skin in the game, which is crucial for real learning, but you're doing so in a way that protects you from significant financial or emotional stress over an extended period.

This longer timeframe allows you to:

• Experience different market cycles

• Develop consistency in your trading approach

• Build a substantial track record for analysis

• Ingrain good trading habits deeply

Remember, successful trading is a marathon, not a sprint. This initial period of controlled, mindful trading is an investment in your long-term success as a trader. The patience and discipline you develop during this time will serve you well throughout your trading career.