What is your experience with trading options?
TRADINGFEATURED
“You will get rich if you give society what they want at scale.”
Most traders have bad experience with options because they don’t understand when to stop.
Imagine you are in a sinking ship. The last thing you would do is drill another hole in it.
So why would you add a second position to a losing trade?
An important question you should ask yourself.
What do I need to do to guarantee my success in trading for another year?
Make sure you are constantly adapting to the slight changes in the market. This is how you survive.
“You will get rich if you give society what they want at scale.”
Apply this understanding to trading.
Focus on one great setup that you can trade at scale.
Wealth is created by compounded action. Consistent processes that compound over time. Consistent small losses and big wins that compound over time. Consistency is your friend.
Flow charts can be a game changer.
I have built a flow chart with over 40 variants included for one system (still keep on updating with more when needed). It allows me to clearly see every if, but and variant that is included in my system. Develop systems to bring clarity.
Tunnel vision
You should have a tunnel vision when it comes to your strategy. Strive to learn more and become better but do not let your curiosity take over your successful trading process.
Credit: Quora