OPTIONS
Ten Tenets For Trading
10 Rules For Options Traders
by Joe Luisi
The success of your trading career is determined by profitability. And this profitability lies in the way you follow your trading plan. Here are 10 rules you should always consider before making a trade.
It's a good idea to take some time each year to reflect on your trading successes and failures. What have you done right? What have you done wrong? Did your trades work out as planned? Did you make money? Don't let another year go by with failed dreams and hopes. Make this your year of change and financial advancement, one that offers many profitable trading opportunities. If you truly want success, you have to do what is necessary to bring it about.
The markets have been extremely rough and volatile during the past two years. But there are some trading rules that stand the test of time. Listed here are a few of the most important ones that I follow. I trade options, so the rules are tailored to them, but these principles can be applied to any market and any trading method. Take a moment to review the rules and see how you can change your strategies to make 2002 your best trading year yet.
...Continued in the March 2002 issue of Technical Analysis of STOCKS & COMMODITIES
Joe Luisi is a private trader and can be reached at joeluisi@aol.com.
Excerpted from an article originally published in the March 2002 issue of Technical Analysis of STOCKS & COMMODITIES magazine. All rights reserved. © Copyright 2002, Technical Analysis, Inc.