3. BE DISCIPLINE
Last but not least, always be discipline. You could have the perfect plan in place and you can fully understand that you can’t control the market but if you are not discipline and follow your rules, you will not make money in as an option trader. Discipline is the most important aspect of options trading yet the harder to follow. Sometimes. even with a plan in place we go into the plays blindly and we do not follow/execute our initial plan and therefor you end up losing a lot of money. This has happened to me in many occasions, where I have my plan, I’m following a clear trend, I have profit but because I was “believing” that I was going to continue to make more profit I let my contracts to become losers, and my emotions where already out of line. Instead of cutting my losers shorts, i let it run resulting in worthless contracts. Understanding that you have to be discipline above all, not matter what, its super crucial to be successful in this field and/or any other field that you attempt to go in.
