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Time Management And Options Trading

Options Trading 101 - The Ultimate Beginners Guide To Options

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by Gavin in Blog
February 15, 2011 0 comments

I heard a great piece of advice regarding time management recently that I wanted to share. This is something that will be very useful for people getting started in options trading who feel they are just overloaded with information. Basically the theory goes, that you should only concentrate on learning things that will make a difference to you now, things that you can put into action now.

When I first started trading options, I was so excited by everything like all the different strategies you could trade. I bought so many books off Amazon on every topic under the sun to do with the stock market, options trading or investing. You name it, and I probably have it! There is just so much information out there it really does take years for beginners to learn most of it. I’ve been at this for 13 years, and I’m still learning!

If you’re starting out trying to learn options trading and finding it hard to find the time to learn everything, just try to focus on those things that will make a difference to your trading today. One thing I did when I was starting out was sign up for all these different email services, newsletters and various options trading tutorials. But pretty soon you will be suffering from information overload and you may get disheartened and think “I don’t know enough to be a good trader”, or “There’s just so much to learn and I don’t have the time”.

If you find yourself in this situation, try this time management technique of only focusing on the things that will make a difference to you today. Any time an email comes into your inbox, think to yourself, does this apply to me today? Will this help improve my trading today? If it does, great go through it in detail, but if not just file it away to read at a later date. If your trading plan is to trade covered calls, learn everything you can about that strategy before moving on. Sure, information about volatility trading, delta neutral trading, iron condors, stochastics, moving average convergence divergence etc. might be interesting, but if it’s not going to make a difference to your trading today, file it away to read later when you have more time and when it will actually make a difference to your trading.

I hope you found this helpful, I have been applying this to my trading and also other walks of life over the last few weeks and I’ve found it has made a big difference to my productivity levels.

Happy trading!

Options Trading 101 - The Ultimate Beginners Guide To Options

Download The 12,000 Word Guide

Get It Now