I’VE TRADED BEFORE BUT I WANT TO BE CONSISTENTLY PROFITABLE
SEAN ALLISON KNOWS WHAT IT’S LIKE TO NOT EXPERIENCE CONSISTENT RETURNS FROM TRADING
Sean has been teaching Options trading to people from all walks of life for over 8 years now. He understands that one of the challenges for people who trade for a side income is making consistent returns. There are 4 main reasons why a trader isn’t experiencing consistency. Once you know what these 4 reasons are, you can start enjoying more consistent returns instead of going through a roller coaster of big gains and big losses.
DO YOU THINK YOU NEED YEARS OF EXPERIENCE TRADING TO ENJOY CONSISTENT RESULTS?
Many intermediate traders believe that in order to enjoy consistent gains from Options trading, you have to be a Warren Buffet or a Paul Tudor Jones or a George Soros. Some even believe you need to have access to specific information or to have 20 years of experience under your belt. Indeed, some of the best traders in the world do have years of experience and do have access to information and education many don’t but that doesn’t mean that their success hasn’t left clues. It doesn’t mean that you can’t model how they trade and how they think when they trade.
If You Want More Consistent Results, You Need to Master 4 Key Trading Principles.
- Keep a trading journal
- Master risk management
- Understanding trading psychology
- Lock profits away as they become available
So Here’s What You Need To Do:
So now that you have some experience trading and you’ve experienced some gains but would like them to become more consistent and more predictable, you need to master these 4 key principles. When you do, you’ll be able to relax and enjoy a more comfortable lifestyle.
FOLLOW SEAN ALLISON’S 4 KEY PRINCIPLES
1. Keep a trading journal
A trading journal is a simply notebook where you log all your trades. Thanks to a trading journal you learn to identify trends and patterns, and allows you to analyse what strategies work and which are worth reconsidering. Plus, a trading journal helps you improve your trading skills and monitor your progress. More importantly, a trading journal will keep you accountable which is key to enjoying consistent returns.
2. Manage Risk
The goal of risk management is to make sure that the trader only takes the risks that will help him/her achieve its primary objectives while keeping all other risks under control. Risk management is a key factor in becoming a successful Options trader regardless of the size of your trading account and how much money you are trading. With trading, losses are inevitably going to happen so managing risk effectively minimize these losses.
3. Understanding Trading Psychology
Trading psychology refers to a trader’s mindset when they’re trading. A trader’s psychology can determine the extent to which they succeed in enjoying gains and can also explain why a trader incurred losses. A trader’s state of mind, such as feelings of fear or greed can cause a trader to close out positions prematurely or refrain from placing trades. This leads to making irrational decisions which can really affect a trader’s results.
4. Lock Profits Away
One of the thrills of investing is watching your money grow. If you’ve been trading for a while, chances are you’ve seen your account grow nicely. So the last thing you want to do, is see those gains disappear. This is why the 4th principle to enjoy consistent returns, is to close your position and lock your profits away. Locking profits away can sometimes go against your natural instincts but they will definitely allow you to enjoy more consistent gains over the long term.