As a stock option trading coach, I frequently get clients that tell me that they have been trading for many years. In discussion before their first coaching session, I uncover that they have been using a service that tells them what stock, when to enter, at what price, and when to exit. These services provide what I call – “Monkey See, Monkey Do” trading.
While there is nothing wrong with using these services if your trading account shows a good profit. In addition be sure to consider how much your actual trading skills are improving – and if improving your trading skills is a personal goal of yours or not.
If you want to develop trading skills you will need to begin with the basics of how to select stocks for your watchlist, how to qualify stocks for potential entry, how to develop entry rules, how to select the proper option strike and month, how to manage your open trades, how and when to exit your trade, and how to conduct a post-mortem on your closed trades.
I can help you with your stock option trading. You will learn more, learn quicker and lower your risk. Contact me today: Jo@TradingCoachJo.com.
Jo – Your Options Trading Coach