Options trading is a smart way to take advantage of the stock market’s price action, as it offers a cheaper way to go long or short while limiting downside risk.
But you may end up losing a good amount of money before you even have time to blink if you invest without a game plan.
We’re often asked what separates successful and unsuccessful options traders. And far too often, it comes down to knowing how to manage positions.
Most people spend a lot of time determining when they should get into a trade. But figuring out when to exit them is just as important — regardless of whether or not they’re going in our favor.
This seems obvious when a trade moves against us… But it becomes more difficult to remember when we’re sitting on a huge gain.
This psychological dilemma is often called FOMO, or the “fear of missing out.”
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