My Psychology for Options Trading
It is always good to take stock of my trading psychology from the time I started options trading until now. I must say that I am grateful and thankful for the people that I have come across that have taught me how to trade options in the most efficient and practical way, and I must that it works.
The way I have been trading options is probably one of the most boring ways to do any form of investment. I usually go for very safe trades, and if I have taken your premium, I am unlikely to give it back to you.
I have been doing weekly options and I have gone through from greed to impatience to fear. The entire gamut of trading psychology that every newbie trader would go through. I won't dare to say that I have arrived at the ideological state of being a master, but I will say that I have a system in place that would make me a rich man - just as long as I stay within the rules of the system that I have created for myself.
Options trading at the very core of it, is a numbers game, and it is all about probabilities and there is some maths involved. If you're a novice trader without any pre-knowledge of how to invest, then my suggestion is that you get yourself trained for the basics of options trading before you start trading.
Once you have completed your basic training, it is time to demo trade and then finally when you're sure of your strategies, you can start putting in real money. I have invested quite a lot of money, and I have lost quite a lot as well. But I am slowly building my way back to where I left off.
I am leaner, more experienced, and I am ready to play the game according to the rules.
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