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3 Keys To Trading

The three biggest keys to trading so far as I have been learning the last 6 months.

1) Strategy - To me, this took some trial and error because I had to do a bit of trial and error to figure out what kind of strategy I wanted to follow and learn effectively as I am trading.

2) Risk Management - Your risk to reward ratio needs to have rules. Only buy contracts of the amount that you are willing to lose, because there will be losing trades, and you will lose money. At the end of the day, trading options is not about making money, it is about not losing money. If you can 'not lose money' more than you make money, you will be a successful trader.

3) Trading Psychology - No FOMO, not switching strategies, not chasing profits after losing a trade. The Trading Psychology piece of this is huge because this is where you not only learn about the market psychology, but your emotional intelligence as a trader. You will need to figure out where your strengths and weaknesses are, and this area in psychology is usually where beginner traders struggle with the most.

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