- Written by OptionDave
Many people come to ETNtrade wondering how me continue to create returns that outpace our competition by such a wide margin. Well, in the spirit of the Olympics, I thought I might take a moment to explain. And let me warn you, the answer is so simple that it might shock you.
It all comes down to a proper mental approach and preparation through practice. Let's start with Practice. Many people tell you that practice makes perfect. Well, let's ask them this: Do YOU practice? I find that most "experts" don't. Why not? I can promise you this... there is no one reading this post that does more practice trading than me. I practice what I preach. But I don't just practice, I perfectly practice. That is right... practice will never make perfect unless you are practicing perfectly. We do not want to create bad habits, so make sure you are practicing the right way.
Next we have preparation. Being prepared mentally is very important. Just like the athletes we cheer for in the Olympics, the right mental attitude is critical for profitable trading. This is why 1 of the 7 segments of my Boot Camp Training is dedicated solely to Psychology. I feel it is that important. As we go through our trades with our Members on Mondays and Wednesdays, we already have an extensive watch list put together (and of course I share mine with our Members), we research each stock in depth, and we spend much of the 2 hours of Live Trading analyzing and preparing our trades. So what do we look at? The answer is probably not what you think.
The most important part or our analysis is measuring what the Market itself thinks the stock will do. While most people sit down scouring through financial numbers (as if they really understand them), and reading what "analysts" have to say about the stock, we look at the numbers. There is so much that can be determined just by looking at the options on a stock. Many of these things will be discussed on our Free Live Trading Classes this week. I would love for you to join us by clicking the link to the right of this blog. If you cannot make it, let's set up a time to talk. You can always contact me directly at Support@ETNtrade.com.
See you soon. Happy Trading and God Bless,
President and Founder of ETNtrade