Lesson Overview

Paying Yourself A Small Salary

My personal strategy for using options trading as a source of income for my family is to set a monthly salary draw at the beginning of each year. Contrary to what most traders do in taking out whatever they make as a profit each month (if there is anything there to take), I prefer to know exactly what I'm getting so that I don't feel the need to fit the market for my income. Important: This doesn't mean that we can take whatever we want. There are some set guidelines to use as far as monthly/annual draw-down that you should follow and whenever possible you should continue to add funds to your account if you are able.

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