February 2019 has been a great month for me in options trading as I have finally made a comeback in profit from my losses. I have made a comeback by taking less riskier trades and looking at the stock chart patterns to know how will the stock will moving during the day or the next day by after hours and premarket performance.
Making losses always suck and just puts you into a negative situation, but you can always make a comeback by understanding why you lost your trading position and strategize to win in the next trade. It is very easy to place a random stock trade and think you may make a profit, but the markets can change course at any time. It is very important to plan your stop losses, and exit to know when you want to sell to profit or reduce further losses.
Whenever I profit off an options trade I have now decided to withdraw cash in order to reduce greed and risk and focus on stabilizing my overall cash available for trading. Researching and staying up to date with current events has helped me become more profitable. Though I haven’t looked much into the greeks lately, it does give you a very important outlook to know the probable chance of profiting off of the options trade you
Looking back, I have almost traded options for almost a year. I started with Robinhood app back in March 2018 and now have used Tastyworks since October of 2018. I look forward to 2019 as a year I become profitable in trading as I learned from my mistakes and failures of trading options in the market.