How To Trade Safely

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In order to be safe, I don't go out of the money too much, maybe 2 places at most. Prefer 2 places ITM. Most mistakes made in Options is that people buy at the price they think it is going to reach. For anyone to make money on that , the price would need to surpass your target (or option strike).
Imagine if you if your price target is 400 and it gets there and it closes at that price. Your option has no intrinsic value. All your money is gone and you may get assigned if expired.
Mistakes are sometimes inevitable. There was a big mistake I made when I chased a dividend. I saw a stock cheap in price have a special Dividend above 2.00 a share I bought in on the day before Ex-Div Date on Div date it droped over 2.00 a share So what I thought would be a great quick grab was a break even I lost over 200 and had to wait weeks to get what i lost back from the Div payout
Don’t look into penny stocks as ways to get rich. They’re not safe trades. They’re risky. Volatility is good, but if you don’t know what you’re doing, you’re going to be the 95% who lose.