Dwayne Buzzell Blog | Five Crucial Goals You Should Set to Guarantee Successful Options Trading. | Talkmarkets

Dwayne Buzzell

Forex Trader
Member's Links: Forex Trader

Between 2003 and 2007 I was studying Economy at Berkeley University.

Since 2014 I've been investing in the forex market. It takes me about 2-4 hours daily. I have a lot of experience and I want to share my knowledge.

Five Crucial Goals You Should Set to Guarantee Successful Options Trading.

Date: Tuesday, June 5, 2018 3:58 AM EDT

Options trading is a risky venture that nevertheless has the potential for high reward. Success depends on some common factors, for instance, understanding historical and implied volatility.

However, one factor that most traders, especially those who are just starting out ignore is setting their goals before the start of trading. Tony Robbins said, “setting goals is the first step in turning the invisible into visible.” This statement holds particularly true when talking about options trading.

Trading in Singapore—either in the US market via online brokers or in the Singapore market— is quite popular. As a result, it is important that traders learn to set their goals to ensure they are not frustrated. Here are five goals that any successful aspiring trader ought to set.

Learn First, Then Let the Dollar Amount Come Second.

Learning is particularly important for a beginner to note. There is no magic formula; veteran traders will tell you that their success largely depends on instincts honed over a long period. Therefore, setting a number like 40% per year is unrealistic and will probably lead to frustrations when not achieved.

The trick is in learning the strategies and picking one that works for you, learning the market and learning how to make informed decisions that will yield good returns.

Just imagine for a second, that an individual dared venture into the Singapore Forex exchange without first understanding Structured Warrants. That is a recipe for disaster for sure.

Take Your Time to Formulate a Good Trading Plan.

Once you have gained a bit of experience in the world of forex exchange; learned the basics, the lingo and most important your instincts, it is now time to take a minute and come up with a trading plan.

A trading plan is akin to a business plan—more important than the actual business. A trading plan is an individualized method of assessing risk, evaluating stocks, and coming up with investment objectives.

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