How Not To Lose Money Trading Options

7 (not so) easy topics I learned the hard way. That might help you earn huge money from options. A THREAD: 🧵

Emotional trading: It's important to keep emotions in check when trading options. FOMO can lead to impulsive trades, and chasing hot stocks or options can lead to big losses. Developing a trading plan and sticking to it can help you stay disciplined and make logical decisions.

Chasing: It's easy to get caught up in the hype of hot stocks or options, but chasing them can lead to big losses. Instead of chasing the latest trend, focus on doing your own research and identifying opportunities that align with your trading plan.

Lack of a trading plan: Without a clear and defined trading plan, it can be easy to make impulsive or emotional trades. This can lead to big losses.

Overtrading: Many new traders make the mistake of overtrading, which can lead to big losses and burnout. It can also cause a trader to deviate from their trading plan and make impulsive or emotional trades.

Lack of discipline: Day trading requires discipline to stick to a trading plan and cut losses when necessary. Without discipline, it can be easy to make impulsive or emotional trades.

Not cutting losses: Many new traders hold onto losing positions in the hope that they will recover, instead of cutting their losses and moving on.

Not having patience: Day trading requires patience to wait for the right opportunities and not make impulsive decisions. New traders often lack patience and can end up making bad trades.

I cover all of these in-depth every morning on YT LIVE. Please LIKE👍 & RT🔁 if this helped you in any way 😀 If you want more on these topics, join me @BulITrades and id be happy to dig further. twitter.com/EnhancedMarket/status/1616089606159585280