How to Make More Money With Options
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How to Make More Money With Options? Answer: Win More when You Win. Lose Less When You Lose. Win More Often. Stop Screwing Up, Making Mistakes. Stop Chasing “Emotional Affirmations” from the Markets.
How to make money with options and how to actually make money with options while not going to some sort of lucky streak and then meltdown.
A lot of people want to pursue the epic story the epic series of trades or even epic one trade so they can impress their friends or be like the guy that read about and they trading book.
And that’s cool and all, and you can do that, but if you can remember this: that when you actually succeed at making your epic run, you’re going to have to deal with a whole lot of very strong emotions when you achieve that one, one time goal. And those emotions can get you doing dumb things.
And in a similar to the statistic of 90% of lottery winners having to file bankruptcy later, a lot of one time wonder traders end up in a similar situation because they did not have a long term methodical plan.
Also, what you want to do is have a plan of what to do with a huge chunk of that money, reduce your living expense by completely owning a home (that’s not expensive to maintain), a solid car or two and all the key and core things, computers, furniture, health devices, maybe some land for growing your own foods, shoot plant a bunch of food bearing trees in the process, etc. go buy, pay off any and all things, to create a foundation of living security with no more debt. This will give you tremendous confidence that you’ll need to better succeed over the long term in trading. Because the money desperation mindset in trading, usually loses.
You then go and try to do the same feat again but you’re going to need the same focus that got you there in the first place. So what is suggested is that you start learning, mastering and working up several trading systems, trading systems that reduce your involvement in the markets to a minimum so you can more efficiently start generating multiple streams of cash flow…
To be continued…
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