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4 Tips For New Stock Traders
Stock trading can be a nice skill to pick up. That isn’t to say that there aren’t going to be challenges to overcome. However just like all areas in life if you stick with it there is a great potential to make money.
However before you begin trading here are a few tips to help you.
1. Don’t Trade with Money You Need Today
Isn’t the goal to make money? Yes it is, but don’t trade with money that you will need right now. If you start to trade, make a bunch of mistakes and lose it all it would be nice to not end up in the homeless part of town. Aside from that it is harder to make money by trading with money you need to pay your bills in the next few months.
2. Don’t Let Your Losses Run Wild, Keep them Small
Anybody can make a lot of money on a single trade; it is not losing it on the next trade that is important. Always make sure that any losses you do have are small and have a minimum affect on your account. You can do this by using stop loss orders and position sizing.
3. Create a Method
You want to have some basics guidelines on what an entry signal looks like and what an exit signal looks like. Many new market participants don’t have this and as a result they lose money when they try to trade short term.
4. Make Your Own Decisions
It is easy to get swept up in market noise. That is one of the reasons I don’t watch the news. Don’t get caught up in other people’s opinions no matter how qualified they might seem to be to talk about it. There are too many scams and ignorant people out there to believe everything you hear.
Instead work on creating your own trading plan and making your own decisions. In the long run this is the only way to succeed.
For more free stock tips visit Shaun’s site about the stock market basics
The Secrets to Locking In Profits for Option Traders
Recently, I had an important chat with a stock-option manager who is still seeking for the mysterious formula to yielding dependable returns with option investing each month. He mentioned some things which were so obvious to me and brought up many past memories.
The thing in particular that really stood out to me was when he alleged “Non-directional option investing doesn’t mean we will produce a return on investment in every direction. It really means that we produce a return if the asset doesn’t move in any direction. Another way to look at it, it’s really a directional strategy, sideways.” This is very true, and most schools say that it’s easy to manufacture returns with options simply because we can produce money for every direction the market goes. This is true in some points of view and false in others.
Investors using Condors as their main strategy understand what I am saying here; especially if you are investing in the Iron Condors which most schools and written materials preach. If you are investing with this option spread this year, you most probably aren’t earning much. This is because that the Iron Condor is just as directional as the other option spreads only that it’s direction is sideways. To most, it’s just as difficult to forecast a non-move in the market as it is to forecast market that will be moving.
Over the last few months I have had many phone calls from option traders losing most of their trading capital with Condors and Credit spreads. They all have said one thing in common: “I was making great returns at first, and then one day, I lost most of my money.” I’ve heard this tale many a time.
This is precisely why I don’t preach the normal style of Iron Condors. If you are a couple days from expiration, and the RUT is right up against the sold contract, subsequently you are investing in the same manner as the average investor does. I’m speaking of the one who has very little investor education, and because of this, shortly you’ll be telling your buddies a similar story. However, it’s a very different story that you’ll be telling your wife! You smile today at this, but you won’t be showing your pearly whites during a time when it happens in your own trading. Another serious problem with this aggressive style of investing is that the anxiety level can be so elevated that it really destroys your well-being on a daily basis. Many of you reading this know what I am talking about.
Anyway, to deal with this problem San Jose Options Mentoring has redesigned Iron Condors and Credit Spreads. We have a different technique which gives the underlying much more wiggle room, lowering our stress level and keeping us out of dangerous situations. Remember, the less you have to adjust your condor, the better off you will be in most cases.
Our safer method of trading speaks for itself, but we have also developed another method that is very exciting to share with you. For most option strategies we trade, we now have a way to lock-in the profits and stay in the trade to make more. This is a great technique to use as an investor.
Also, when we do have a trade go against us, well, we have ways to get a free trade from it. This is another important technique that we teach to our students. While many traders exit with a loss or never exit and sustain a huge loss, we exit and get a free bonus trade that can always lead to returns at a later date.
So there you have it! Whether it’s a winning trade or a loser, we have really developed some nice trading tactics that can improve your personal trading immensely.
Want to lock in your profits?? Improve your Option Trading now by visiting San Jose Options Mentoring online at www.sjoptions.com. Visit now and receive a Free Option Trading Video on Option Greeks, a $200 value absolutely free! Visit the Uber Article Directory to get a totally unique version of this article for reprint.
