Option Trading Tips

A successful trader must learn to be a good loser before he can start winning.

The men on the trading floor may not have been to school, but they have Ph.D.’s in man’s ignorance.

Every battle is won or lost before it’s ever fought.

The goal of a successful trader is to make the best trades. Money is secondary.

Losses are necessary, as long as they are associated with a technique to help you learn from them

Don’t blindly follow someone, follow market and try to hear what it is telling you.

You don’t need to trade often. If you can catch one or two moves to the targets during the day with good size, you can make a good living and keep trading costs down

Confidence is not “I will profit on this trade.” Confidence is “I will be fine if I don’t profit from this trade.

The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.

Money is made by sitting, not trading.

You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.