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Why You Need To Struggle When You Start Trading Options
Nobody wants to struggle.
We all want it easy – and if possible, quick and easy at the same time.
Yet for some money things in life (of which include options trading) it’s the struggles that make us better. Stronger and more prepared.
In fact, I have gone so far as to tell some of my coaching clients that I require they struggle and fail the first month. With most of the bad habits I see floating around and the sheer statistics to back me up, it’s not hard for new traders to fail quickly.
You Should Embrace The Struggle
Have you ever watch an egg hatch? I know it sounds odd but follow me on this if you haven’t.
Just before the new chicken is born it goes through a huge struggle to break free. Actually it starts weeks before pushing out on it’s shell and building enough muscle to finally breakout one day. Weeks and days of failure yet all along it’s growing stronger.
Then, when it’s gotten strong enough to break out, it starts a completely new life! And more importantly it’s strong enough to survive outside the shell.
Sounds like someone you know? Possibly sitting in your office at your desk? Me too.
All too often we look for the easy path when it comes to trading options and investing. Three payments of $19.95 and some cheap old system that you just plugin to your computer and it’ll trade for you profitably for 100 years.
Don’t tell me you guys are still falling for this? But it’s in our DNA in today’s society. We want things fast, with little hassle and no struggles.
I have shocking news. . .
It’s the struggles that allow us to grow and succeed on the next level. Think about what would happen if we just cut the chicken out of the shell weeks early. Do you think it would really have the strength to survive alone? Hell no!
The same goes for options trading. You have to struggle and get back up. Make losing trades and come back again the next day ready to learn. Weeks and years of small struggles make you wiser and more profitable.
90% Of Lottery Winners Go Broke
You read it right – 90% go broke in less than 5 years! We are talking about people with multi-million dollar fortunes who blow their money.
How does this happen? Easy.
It’s not the money that sends them back to poverty. Nope. It’s that they never struggled to earn/save money before.
They haven’t developed the skills, habits, or financial muscles necessary overtime that would allow them to survive outside the “shell” of being for all intensive purposes poor.
Next Steps. . .
If I’ve convinced you that struggles are okay then what are the next steps right? Easy.
Focus on learning the fundamental options strategies. Forget about market direction and learn how probability trading works. Sure it’s going to be a tough transition because most investors don’t think like this. But just as in life, it’s the struggle that will make you stronger.
Watch The 1st Video In This Free 4-Part Series
I’ve been told by tons of people that you’ve got to either have a lot of money or a really killer system to trade options and win. Some new indicator or signal that will transform your portfolio.
And I’m sure you’ve heard the same thing and are sick of these expensive, dead-end courses and websites wasting your time and money.
Honestly, there is no “magic secret” to trading options. It simply comes down to an understanding of risk management, option pricing and strategy selection.
Instead of learning these lessons the hard way (i.e. losing your shirt in the market), why not take my free 4-part video course as I cover each area in detail. Plus, I’ll go over the exact checklist I use for selecting trades each month!
Source: http://optionalpha.com/why-you-need-to-struggle-when-you-start-trading-options-15685.html
