The Psychology of Trading
One of the first things I teach new options traders is the psychology of trading. If you can learn how to manage your emotions and keep greed and fear in check, you can survive – and succeed – as a trader. During this options trading webinar, I covered what you need to know and essential tips that will help keep your head in the game, including:
- The dangers of greed and fear
- Why it’s important to tune out the noise – and what to listen to instead
- How to handle surprises
- How to protect your portfolio
Options Trading Webinar Recap
We started off discussing the last few trading days of April and how it is likely to shape the months to come. We are in the throes of earnings season, and given the poor results and action, it’s no wonder everyone is worried and concerned. The action had been decent up until Thursday, but a late whack triggered a massive selloff. We’ll have to see if there is follow-on selling.
Our main focus was on the psychology of trading and how to keep your head in the game, accept the wins and losses, be prepared, and trade within your means.
Simply put, trading is a non-stop game that requires a commitment to getting better through experience, watching, listening and paying attention.
This Week’s Market Action
Earnings reports took an ugly turn this week. Apple took a beating, following in the footsteps of the entire tech sector, which continues to get nailed. Restaurants also took it on the chin. However, the energy sector and small caps are doing well, so it’s not an entirely gloomy picture!
Given the backdrop, the VIX still shows complacency. Puts/calls rose a bit, breadth is outstanding (thanks to energy and small caps), and the McClellan oscillators are back in positive territory.
Options Trading Webinar with Bob Lang
Watch the webinar to gain a deeper understanding of the psychology of trading.
If you love the insights you gained in this webinar, don’t miss your chance to join us live. Each week Explosive Options hosts a FREE options trading webinar during to discuss recent market action, current plays and charts of interest, along with the trends that may affect future action. Join us live and get your chance to ask your own trading questions!
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