Number 1 Destructive Trading Habit
This One Might Come as a Surprise to You.
We, as traders, have many self-destructive trading habits.
I’ve tried them all at one time or another over the years, and there are a few that constantly try and work their way back into my trading.
When I Say Many, I Mean Many.
- Over-trade (big one)
- Greed
- Ego
- Presumptuous
- Blame Others
- Blame your dog
- Blame Someone Else’s Dog
- Blame Your Computer (tell me you have never screamed at your computer)
- Laziness
- Treat Like Gambling
- Greed
- Fear
- Arrogance
And the list goes on…
The only one I have not had to deal with personally is that I have never, ever blamed someone else’s dog…
…it was definitely their cat.
As big as this list is, it doesn’t include the biggest one I have seen destroy traders over and over and over again, and it is one that I have to constantly watch out for.
And it might surprise you what it is…
Traders (maybe you) have been or are guilty of conforming our trading to what we are comfortable with, rather than conforming our trading to what works.
I’ve heard this excuse 1,000 times… “I’m not comfortable with this kind of trading”.
And my question is… “so you are comfortable losing”?
There are times I am still guilty of it myself…not wanting to take a trade that I
know I should take (because it is in my plan), but I’m not comfortable taking it
because I just know the market is going to move the opposite direction.
Does comfort keep you from trading what works?
If it does, I created a trading platform, TradePartner, that changes the trading game.
If you are tired of watching the markets to find your fill price, your ideal exit, or to stack on an amazing trade…Trade partner is for you.
For most, trading is a MASSIVE expense in time and money that ultimately carries little reward
in comparison.
So Let’s Get Uncomfortable
My first and foremost goal in trading is SURVIVAL.
That one tip alone is worth GOLD.
And I am not even kidding.
If you don’t survive, you won’t last long enough to experience the kind of successes I have experienced, and no doubt will experience in the future.
My Next Tip is:
It’s Not Just the Spread or the Strategy..
“Ryan’s strategy is the most consistent way to make profits if you take the time to learn from Ryan as he explains the intricacies of the trades, the potential traps, and the numbers behind the trades. Once you understand and trust the process, this method is the most consistent and profitable strategy you can trade without making market predictions. I am ever so grateful for Ryan’s work and his dedication to helping others”
-Carlo L
For Example…
A lot of people when they first get into option trades and option spreads,
they want to go high probability.
They gravitate towards the iron condor because that’s what the industry pushes, right?
And inevitably, most everybody that takes those trades, hold onto the iron condor until the last day.
And that’s their strategy.
Put on the Iron Condor..
Hold on the last day..
And then eventually they have a whole bunch of winners….
But then they have a big loss and it WIPES them out.
Looking at that approach, most think, “Well this isn’t gonna work.”
So then they move into the realm of managing the legs of the trait.
So they’ll switch out this leg for that leg and that leg for this leg and extend the risk if you will.
So they begin that process and that becomes the strategy.
And one thing that you have to understand about any option opportunity is that the strategy isn’t just simply to hold on until expiration.
In other words, it’s not just the spread. It’s how you play the spread.
That is a rule 99% of the time I apply to my trading.
While holding until expiration can work out great for a couple of times, more times than
not, you will be better off getting out early.
And it proves to be the better rule every single week in my live trade calls.
Stop being comfortable and follow a step by step plan that addresses every
aspect of the trading process.
And that is the Truth About Trading.
Change Your Trading, Change Your Life
Ryan Jones
SmartTrading Founder
