It takes 4 years to get a degree, and over 10 years to become a doctor, please don’t expect that you’ll be successful after just a month of trading. Trading and making tendies is not easy, especially when you’re playing with options. There’s a reason why statically people who trade are more likely to lose out on trade and sell at a loss (trading is not investing).
I need you to understand the basics before blindly following into a trade. PLEASE ASK QUESTIONS. I know many of you watch videos with gains, and think, “WOW, that could be me!”
If you ever find yourself asking questions like:
- Is it too late for me to get in?
- It probably is. Don’t buy at a high
- Should I hop on now?
- Don’t chase, or you might get crushed
- If only I did 10 contracts instead of 1 contract!
- Realize you could also be 10x down
RISK MANAGEMENT and UNDERSTANDING WHY YOU ENTER A POSITION are KEY
As retail traders, we’re already a step behind compared to institutions and the big boys. Hence, as someone who is already behind compared to “smart money”, it’s even more crucial to take advantage of ALL the RESOURCES to learn and understand what’s going on. Bears make money, Bulls make money, Pigs get slaughtered, don’t be the pig! Please don’t blindly follow and lose money, especially with money you can’t afford to lose. There’s no such thing as a free lunch, and it sure as hell not as easy to make quick money. You may be lucky this week, next week, or next month… but if you’re not careful, sooner or later, you will lose it back to the market.
MARKET GIVES and MARKET TAKES