I don't have much cash to invest to start with, what would be the absolute minimum I should outlay at the beginning? and I've heard there is some good beginners software that allows you to do virtual trading for a few months so you can get the hang of it before you outlay any real money, anyone know of any good ones?

If you are in UK, there is a good book called Trading in options by Geoffrey Chamberlain. I introduced someone to this book some years ago, he is now earning £50k+ trading options with futures hedging in his spare time!I know you said software but this is the best I can offer.Also look at US options called LEAPs. For example i have been trading Conoco phillips (COP) Jan 2009 $75

Trading options can be profitable if you get off to a good start. I would recommend that you subscribe to an option advisory service. That will allow you to learn how to pick the winners. Do a Google search for something like: option trading advice.

THIS IS NOT SPAM. This is what I KNOW:In the U.S. is a software company, GlobalTec Solutions. They have a software program, "WizeTrade for Options"The program has red lights and green lightsThe red lights represent Puts. The green lights represent Calls. It works - when you pay attention as to what else is going on.Go to http://globaltecsolutions.com you can get information about the software and the other programs. The WT for Options is under the "Products" tab. THEN its the 3rd one, down.GlobalTec also has live-in-the-market, computer generated, subscriber-supported [through a monthly fee] TV programming, On Demand Training AND MY personal favorite: User Groups for GlobalTec software. Its terrific!There are other software programs.Thanks for asking your Q! I enjoyed answering it!VTY,Ron BerueYes, that is my real last name!

First, do NOT spend a lot of money on advisory services or software. Everything you need to know is available for less money.As far as how much money you need, Lawrence McMillan (author of the best selling book on options trading ever written) was asked if $20,000 was enough to start trading options. He said no, it was not enough.My opinion is you might be able to trade successfully with less, but you would be starting with one strike against you.---To learn about options trading I suggest you start with the CBOE Learning Center athttp://www.cboe.com/LearnCenter/default.aspxTake the free on-line tutorials and classes. Look through the rest of the material there as well.Then read one or two good books on option trading. If you stick to the books in the bibliography athttp://www.cboe.com/Institutional/Bibliography.aspxou can be sure they are good books. My favorites are are "Options as a Strategic Investment" by Lawrence McMillon and "Options Volatility & Pricing" by Sheldon Natenberg, but that does not mean they are the best books for you. I suggest you browse though several of these books at a large library, a large bookstore, or at amazon.com and pick out one with which you are comfortable.---As for software, the options toolbox and options calculator athttp://www.cboe.com/LearnCenter/RCTools.aspxare both free and helpful. Although I have never used it, I have heard nothing but good reports about Peter Hoadley's options software athttp://www.hoadley.net/options/options.htmwhich was less than $100 the last time I checked. It does not teach you how to trade options, but it assists you one you know.For virtual trading, the CBOE has a new virtual trade tool athttp://www.cboe.com/tradtool/virtualtrade.aspxOnce again I have not tried it, but given the quality of the web site I have some confidence recommending it.

Thinkorswim.com is a great option centered broker. They have lots of good tools for option traders free with the account. It's $3,500 min to open an account. and they provide a papertrading account to practice in if you need it.CBOE has some great online classes. You can also learn a lot just by reading some option trading blogs, websites, etc.I would recommend staying away from option investment services until you get a good understanding of option strategies first. Otherwise, you won't really understand what they are recommending for the trades. When you can tell a buddy the difference between a bull put spread vs a bull call spread, or an iron butterfly vs a call butterfly, or what an increase in volatility will do to a position and how you would counter it; THEN look at an option investment newsletter.