Two things I love; trading and sports. The similarities between the two cannot be overstated. Each requires focus, skill, practice, and most of all, strategy. We can learn a lot about successful trading just by studying our favorite teams or players. Let’s discuss, in brief.
So, I messed up big time this week. Yes, you read that right. I lost my shorts and I’m kicking myself for it. However, it wasn’t without a silver lining and I’m eager to share that with you momentarily. First, let me walk you through my poorly timed and executed long call trade in Apple.
Let’s talk about options adjustments. That mythical term that new options traders hear all about but are never actually made privy to. Well, take heart, I was right there not so long ago. I searched aimlessly for someone sharing their strategy on options adjustments but all I found were countless “gurus” claiming that to be consistently profitable you have to make proper options adjustments. Followed with…so buy this course…and so on…
The title should have tipped you off that this post will indeed discuss timing and more specifically, emotionally charged trade timing. That’s a head scratcher but let’s get into this because I know all to well (wink wink) just how important trade timing can be.
Lets talk trading drawdown. Yes, that nasty occurrence that traders everywhere love to hate. Drawdown equates to the sky crashing down on top of your portfolio and leaving you questioning every trading decision you’ve ever made. But wait please, before altering what could be an excellent trading