So you’ve learned the basics. You speak the lingo and you understand the difference between your “rights” and “obligations” when you are “long” or “short” a put option. Your account is funded and you are watching all the indicators do their thing as you navigate around your new platform.
Now what? Is it time to attend some educational trading webinars and take some small pieces of each to “build your own” style?
In this episode, I speak with Steve Williams, a long-term client and retail trader that made all the wrong moves until he began making the right ones.
Trial and error is an important part of learning any new skill, but maybe I can help you avoid some errors and save you some money. While we’re talking about saving money, don’t forget to check out this week’s freebies and sign up for a FREE 7 Day Trial of ADT’s Premier Membership.
Today Steve and I discuss topics such as:
> Why Trade?
> The “AH HA!” moment – That’s what I was looking for!
> Scaling, confidence and the proper way to build a position
> Patience and how scratch a loser hours before expiration
> Dealing with the noise in the retail education sector
> The benefits of relative value trading
(1:25) If this guy can do it… So can I!
(2:35) Puzzle pieces; why don’t they fit?
(3:40) Revelations from the “webinar circuit”
(4:50) Facebook Groups – An interesting place to learn
(6:35) Be skeptical of where you get your information
(7:40) How much is your time worth?
(8:35) Stop the noise!
(10:10) “Get Rich Quick”
(11:10) Position Management – The Holy Grail of Trading
(12:20) Patience can save you money
(14:15) The “AH HA!” moment – Take profits, wait for more.
(18:15) Holding Scratching losers - $YRCW – Time is on YOUR side!
(21:40) “Luck is the residue of good design”
(23:00) Confidence. Do you build a position?
(24:50) $0.02 Options & exponential returns
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