Options trading portfolios are notorious for having huge swings in value. It’s a challenging psychological ride for many new traders. Use these tips to keep your right and your profits growing.
Don’t spread your capital all over the map – learn how to read charts, create watchlists, and focus on the rising sectors. Follow these simple steps, and you’ll be on the right track.
When you’re a beginner, follow the trend. The analytic skill, trade management techniques, and capital required to be a bear in a bull’s world are beyond most new traders.
I’m a firm believer that you always need to trade for an OUTCOME. Set a profit goal, then determine how you’re going to meet it.
The moment you think you know everything, you’ve ceased to grow.
Today we’re going to look at three key quotes that have stuck with me and helped guide my progress.
You need to do your homework and build a filter to determine what trades are likely to be profitable. Here’s how to stand out from the pack.
No matter the rationale for entering a trade, there are two primary reasons you might hold onto a position gone wrong. Let’s examine both and how to fix them.
If you’re going to get anywhere as a retail trader, you must stop chasing trades that have already happened.
Be sure to track your delta and theta, or you can get into a situation where you’re bleeding money so fast that even a run on the stock won’t make you any profit.
Build your watchlists and check them regularly for solid trade opportunities using your most successful strategies in line with your plan.
A simple task, but one that will ensure you can always profit-making opportunities.