How to Improve your Options Trading Plan

How to Improve your Options Trading Plan

Options Trading
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Following are the steps you start practising or doing from today to improve your Trading Plans:-

1. Learn the Basic Trading Fundamental Skills

It is important that you first understand the basics of options trading before go out. It’s like the basic math ( addition and subtraction) before going to learn division and multiplication. You need to know everything about the binary options trading so that you get the best of it in future.

2. Read Books related to Trading

Honestly speaking in each investing book , there is different overlap about options trading. It helps to learn different techniques & approaches that how to do trading in market. The other advantage of reading books that you can also lean about the hidden facts of options trading.

3. Organize your Technical Skills

Don’t use multiple technical analyses to compete against other technical analyses. Just learn the basic like multiple averages , convergence and resistance.

4. Continue to go with Trend

If you are expert or trade in real money it doesn’t mean that you need to stop learning more about binary options. Just enhance , nourish your skills , approaches and try out different strategies. Keep trying to experiment different approaches from all angles.

5. Choose the method that you love it

Just stick with the method in which you are master. Just try out all the in’s & out’s by practising historical data, testing conditions etc.

When you completely understand what this exactly is will increase the chances of probability of getting higher profits and also able to judge the situation well.

6. Stick to Basic Plan

Don’t take random decisions , go with a plan. like bechance if you want to take a risk it should be calculated and analysed one.

7. Wait for the Best

Most of the beginners facing this problem even i also faced when i started my trading journey. Just wait for the best opportunity to come don’t chase stocks otherwise eventually they turned against you.

8. Learn from Your Past Trading Experience

There is something to learn in each and everything that whatever it is. Every trade is like an experience it might be a losing or a winning one.

For losing one, just analyse why you lost , how to improve & prevent that in future. Make the overall real time adjustments.

For winning one , look into the possible profitable factors , Analyse your real time adjustments.

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If You're In College And Your Parents Pay Your Bills, You're Privileged, Full Stop

It’s support, not a gift.
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Car, phone, insurance, rent, groceries, gas, school, textbooks, utilities – these are all things we will find ourselves paying at some point in our lives.

For some, they may never have to pay a dime for any – or most – of these until they graduate college.

Some until they start a career or get married.

If you throw a rock on a college campus, almost anyone it hits still has at least one or two of these bills paid for by their parents. Being college aged, it’s not uncommon to receive financial assistance from parents. There are so many things to pay for and sometimes a college student budget can only cover so much.

What many of these kids fail to realize though is the assistance they receive makes them privileged. The more your parents pay for, the more privileged you are.

Money is the key to everything: it’s gets you an education, a place to live, ways to communicate, food, and any other necessity or luxury in life.

The less you have to pay for, the less you worry. It means the less you have to budget, stretch a dollar, or worry about having the most basic things.

Being supported by parents means not having to worry so much. It’s easy to walk into an apartment fully stocked with food, using an expensive phone with a large data plan and not think twice about where it came from.

Kids who pay for certain bills like rent or groceries are always aware of the hundreds of dollars they have to take out of their account every month.

They are aware of the fact if they eat too many breakfast meals for late night snacks, they might have to skip eating in the mornings until they can afford more cereal on the next paycheck. They are aware of the fact if their phone drops, they’ll have to live with a horribly shattered or malfunctioning screen.

Even if you are aware of what you are given by your parents, it’s so easy to live a life without certain bills. It’s easy to forget that other people don’t get that break.

I am grateful for the support of my family. I am grateful to have a phone with a plan, and to know that if things get really tight, they’re there to help me. I am aware that I am privileged to have their support.

Next time a parent pays a bill or covers a fee remember that you are privileged to be a part of a family that can financially support you. Be thankful for their assistance and never take it for granted.

You should never feel bad for being supported, but always remember that everyone’s situation is different.

Remember the privilege you have.

Cover Image Credit: Flickr

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5 Things That ALL Millennials Get Wrong About Investing

Millennials tend to save more conservatively and our aversion to taking risks may prevent us from reaching our full wealth potential.

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Millennials get a bad rap when it comes to making personal finance decisions. But while we may enjoy our avocado toast, surprisingly enough, we're also saving more money than previous generations. We also tend to save more conservatively and our aversion to taking risks may prevent us from reaching our full wealth potential.

Here's what millennials get right about their money and where room for improvement exists.

1. We wait too long to start

Even though experts have long recommended starting an investment portfolio as young as possible, many millennials hesitate when it comes to opening their own trading accounts. This results in missing out on the opportunity to sit back and watch our money grow through compound interest.

Many of us utilize savings accounts but relying solely upon these avenues prevents us from letting our money do the heavy lifting for us. Most savings accounts pay relatively little in terms of interest, often less than 1%. Throwing all our money into savings accounts earns us mere pennies for each $100 we invest.

Instead, millennials need to harness the power of the stock market which provides far more in terms of long-term financial gains.

2. We overvalue cash

Because we came of age during an era of financial crisis, millennials shy away from the stock market. But this hesitancy costs us big time in terms of future economic freedom.

No reward comes without risk, and by far the easiest way to reap huge financial gains remains investing in high-yield growth stocks. The best time to take any financial risk occurs before age 35, before the expenses related to home ownership and child-rearing require more financial conservancy.

Stashing away a small amount of cash under our mattresses for emergencies can't hurt, but wasting valuable time simply saving for a rainy day impacts our long-term wealth. If you're hesitant about investing on your own, hire a qualified financial advisor to manage your investment portfolio.

3. We miss out on tax deductions

Failing to diversify investments means missing out on valuable deductions come tax time. While interest from savings accounts gets taxed at the same rate as ordinary income, the capital gains tax rate remains substantially lower.

In addition, certain types of investments, such as investments in oil and gas partnerships, allow taxpayers to take advantage of government subsidies to offset any potential risks to capital.

Millennials do themselves a disservice by failing to seize these opportunities, as experts predict no decrease in demand for these resources over the next few years.

Even making an additional contribution to a 401k or other qualified retirement account can offset tax liability but far too few of us take advantage of this potential tax-buster!

4. We don't do enough diversifying 

Even though one out of every six millennials possesses over $100,000 in assets, few take the time to adequately diversify their investment portfolio. A strong portfolio consists of a mix of high-risk, high-yield stocks, steady, reliable blue-chip stocks, bonds and other forms of property.

Failing to diversify costs us big time in the long term. No matter how much cash we stash away today, inflation remains a powerful force that decreases the value of each dollar saved over the life of our savings.

The only way to account for price increases due to inflation remains investing in the stock market, where gains have a reasonable expectation of keeping pace.

5. We ignore history

Many millennials, myself included, tend to panic when we hear news stories of the stock market rising and falling at breakneck speeds. Indeed, current fluctuations in the Dow tempt many of us to pull out of riskier investments in exchange for less risky vehicles such as bonds.

Savvy millennials, though, resist the temptation to abandon ship.

Historically, investments in the stock market pay off over the long term. Market ups and downs tend to balance out over time.

Despite saving more than ever, we millennials need to educate ourselves about the importance of building a diversified investment portfolio.

Being willing to take greater risks while we're young will lead to a wealthier, more financially free retirement down the line. We millennials must learn to make our money work for us!

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