Our brains are inherently wired to look for shortcuts or an easier path. It is part of our nature that serves us well in many situations, saving time, energy, and money. However, sometimes there are no shortcuts. When it comes to options trading, you should not waste your time searching for tips and tricks. Here is the truth about profitable options trading.
If it sounds too easy or too good to be true, it probably is.
David Jaffee of BestStockStrategy.com does not promise a shortcut to success when it comes to options trading. As one of the world's best traders and coaches, he has learned that success comes from taking action and making good decisions.
It is easy to be tempted by promises of quick tips and tricks, but you are often left spinning your wheels and wasting time.
Unlike many of the options trading coaches in the industry today, Jaffee does not guarantee a shortcut for instant success.
David Jaffee has taught more than 1,500 students how to profitably trade options. Have you fallen down the rabbit hole of options trading tips and tricks? Keep reading to break out of your rut and take confident action in the right direction.
Do you overconsume and under practice?
Learning a new skill takes time and dedication, and options trading is no different. As much as we would all love instant success at everything we try, that is rarely the case. Reality is, we are bound to struggle, and even fail, along the way.
If you wanted to ask someone out, you may Google effective pickup lines. You could look up local hotspots for meeting singles, learning the pros and cons of each bar and club. In fact, you could spend weeks watching YouTube videos in an attempt to boost your confidence and memorize cheesy greetings.
For all your time spent, you will have absolutely nothing to show and no dates on your calendar.
As it turns out, reading articles online, watching videos, and listening to podcasts will only add a little value. You can very easily spend too much time consuming information and not enough time putting in the practice to build discipline and acquire the skills.
Searching for shortcuts, like tips and tricks, is a waste of time. The secret to success is taking action, building discipline and making good decisions.
The same is true for options trading. Too many online courses and YouTube videos promise a shortcut to success. You can consume content all day, every day without ever earning a dime.There is no way to map out every single scenario for trading options. The only way to be profitable with options trading is to take smart, consistent action and learn from experience.
David Jaffee Says that It’s okay to New Traders to be Nervous
But what if I fail? With any new venture, the fear of failure has the potential to hold you back.
The thought of trying and striking out is often enough to keep people from ever making an attempt in the first place. For some, consuming information enables them to waste time. Searching for tips and tricks is an easy way to put off the inevitable, keeping failure at bay.
However, it also keeps success at arm’s length. Nerves are normal, and they often indicate that you are moving in the right direction. The only way to get past your anxiety and concerns is to push through them.
Recognize that failure is not the end. It is an opening for self-improvement. You may not be successful right out of the gate. But, if you commit to bettering yourself, you will be surprised by what you can accomplish.
One common “trick” among options trading coaches is to trade often, making multiple trades per day. This is a tip you may find in videos or articles from gurus, proving that it is easy to be led astray by the promise of a shortcut. The enticing titles on these videos and articles usually turn out to be a scam.
The truth is that it is better to practice patience and discipline when trading options. You won’t find clickbait shortcuts and worthless tricks in David Jaffee’s online options trading course. Instead, you will learn a strategic path that requires action for success.
You won’t remember the tips and tricks
You have probably read articles on interview tips or watched videos on tricks for public speaking. While this type of content seems promising on the surface, it actually provides little benefit. When it comes down to crunch time, your brain defaults to your own experiences and the tips and tricks go out the window.
We learn best by experiencing things first hand. Your personal experience is more memorable than any content you can consume. You may fall on your face a couple of times, but the lessons you learn in the process are deeply engrained in your brain.
If you only seek out shortcuts for options trading success, you will end up wasting your time.
The tips and tricks you find will not stay in your brain for long. You will either forget the information completely or you'll absorb very little of what you consumed.
Learn by taking action then you'll gain confidence and gain valuable skills and abilities.
Before you know it, action will become a habit.
Watch David Jaffee’s video, “Profitable Options Trading: Forget Trading Tips and Tricks. Focus on Action,” to learn more about why action is the most important thing.
Share your thoughts on why people are addicted to tips and tricks in the comments!
Frequently Asked Questions (FAQs)
What are the best options trading tips and tricks?
Sell far out of the money put options on market leading stocks.
What are the best tips and tricks in the stock market?
Sell options on stocks that you want to own. During periods when you feel that the market is overbought, then you can buy puts.
During periods when you feel that the market is oversold, then you can buy calls.
5 Tips to Keep in Mind if You Want to Begin Options Trading
Tip 1: Focus only on market leading stocks with strong brands
Tip 2: Sell put options on those stocks
Tip 3: Take ownership of those stocks once they hit your out of the money strike price
Tip 4: Sell those stocks once you feel the market is overbought
Tip 5: Buy options during periods of market extremes. Buy calls when the market is oversold and buy puts when the market is overbought.
How do I get better at option trading?
Learn from David Jaffee, an option trading coach, on how to get better at option trading. You can receive valuable training at BestStockStrategy.com
Options Trading Rules of Thumb
Rule 1: Focus only on market leading stocks with strong brands
Rule 2: Sell put options on those stocks
Rule 3: Take ownership of those stocks once they hit your out of the money strike price
Rule 4: Sell those stocks once you feel the market is overbought
Rule 5: Buy options during periods of market extremes. Buy calls when the market is oversold and buy puts when the market is overbought.