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Rockwell Trading - Option Trading Mistakes You Should Avoid
When you are trading options, there are a couple of simple mistakes that can be costly.. Here are a couple of mistakes you should avoid when trading options.
No Defined Exit Plan
Emotions play an important role in trading; whether it’s trading stocks or options, you must be able to control your emotions. You must have a proper, well-defined exit plan when you start trading options. No matter what you think, and how you feel, make sure you stick to your plan and not deviate from it.
Don’t Try to Make Up for Past Losses
Several options traders have their rules that they will not buy “out-of-the-money options”, or sell “in-the-money options.” The rules are fine until you run up against a situation where a trade has moved against you. Try to avoid “doubling up” on a particular options strategy, in most cases it just does not work. Though “doubling up” can bring down the cost on a per-contract basis, it usually compounds the risk.
Trading Illiquid Options
When trading in options, always make sure to check the bid price and the ask price. Many times, the ask price, and the bid price do not reflect the true worth of the option. The “true” value of the option might be between the ask and bid price. “Liquidity” means that there are active sellers and buyers in the market.Liquidity helps bring the asking and bidding prices together. When there are no active buyers and sellers, the gap between the ask and sell prices will widen, which results in illiquidity. Trading in illiquid options might not be a very good idea for beginners because there needs to be a significant move just to make up for the spread.
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Rockwell Trading: VIP Membership to the Rockwell Trading Club
Membership to the Rockwell Trading Club (RWTC) comes at the monthly or yearly level. Whether they choose a monthly or annual membership, aspiring or experienced day traders get instant access to an extensive database of trading strategies. Each strategy is fully explained and taught by some of the most knowledgeable and experienced traders in the business. These strategies include instruction on trading swing stock trading, trading spreads, Forex, and many other strategies proven to work and make you money faster. Another benefit of the RWTC is a suite of money management tools for all traders. As you get more involved in day trading, the ability to manage your assets becomes more important. The RWTC provides its customers with some of the most powerful money management tools available today.
Another service that the Rockwell Trading Club provides its members is the “Trading for a Living” module. This course covers the basics of how to make a living day trading. This course is a must for beginners and a useful course even for the most experienced day traders who may have a few gaps in their trading education. The RWTC also provides all of its users with a resource portal for trading tools. This is a collection of the best tools and resources all day traders need to succeed. All of these resources are tested extensively and proven to be effective. The “What’s Working Now” section is the forum for which strategies are working the best in the day trading industry. This section features monthly sessions that are aimed at getting the word out about the hottest strategies that are working right now.
Rockwell Trading: A Comprehensive Day Trading Strategy in Less Than 60 Minutes
Rockwell Trading was founded by Markus Heitkoetter ten years ago on the principle that simple is better. The simpler and easier to understand a plan is, the better people can implement it. That philosophy is fully explained in Heitkoetter’s e-book, The Simple Strategy. This book enumerates a number of day trading strategy axioms designed to eliminate ambiguity and second-guessing in day trading.
Many day traders become afflicted with analysis paralysis when they try to analyze too many factors at once. This has even happened to Heitkoetter on more than one occasion. Its part of the reason he developed his simple strategy so that everyone can eliminate the mental handcuffs that come with overly-complex strategies involving too many moving parts.
The Simple Strategy goes over several simple rules when setting up charts, entering trades, placing your stop loss, taking profits, and what to expect every step of the way. These rules are meant to be guidelines for all of your decisions in day trading. They teach you to look for a specific metric when executing certain types of trades, so that you know immediately when to place a trade, and when to cut and run. This strategy makes it clear when to enter and when to exit. It defines what to look for in order to find opportunities and get in and out of the market, no matter way you are trading.
Rockwell Trading - Long Reach
Rockwell Trading has spread the secrets of day trading to all corners of the globe, reaching over 300,000 day traders in 196 countries. The founder and CEO of Rockwell Trading, Markus Heitkoetter, started trading stocks part time in his home in Munich, Germany 25 years ago while he worked for IBM as a manager. When he decided it was time to move on, Heitkoetter quit his day job to move to Austin, Texas and day trade full time. Pretty soon his new American friends became curious about how he seemed to be very successful working from home and managing his own time and business decisions.
He became an informal day trading guru in his community, showing people how he worked and how he used strategies and technical analysis to find opportunities in the market. In late 2004, he decided to write all of his advice down and publish it on the Internet. In January 2005, Heitkoetter launched Rockwell Trading. His website, www.rockwelltrading.com, drew high traffic numbers and helped launch his new business—helping people succeed in day trading. In 2013, he decided to put all of his advice into a book. Soon, The Simple Strategy came out on Amazon.com. It was the highest selling book of its kind on the website.
Today, Rockwell Trading provides advice and classes to people who want to make their living day trading. Many people think they know everything about working in commodities and other assets, but find themselves over their head. Rockwell provides simple, usable lessons that turn the complex world of day trading into an easily-digestible plan for success. Rockwell emphasizes simplicity and easy concepts that anyone can follow and use to make money day trading.
Growing, Rockwell Trading
It is always a good sign when a company has had a history of success and continues to exist for a nice stretch of time. Rockwell Trading has been in the day trading industry for more than 10 years as of this year. They also enjoy a growing and energetic audience that is spreading its influence and reach throughout the world. In over 196 countries more than 300,000 day traders are within the reach of this company.
They show no signs of slowing down as the word is spreading and more and more synergy falls in their direction. For example in July 2013, the company’s founder Markus Heitkoetter put out a book filled with day trading advice which was called The Simple Strategy.
This high selling book was number one in its category on the site which is a remarkable achievement in a highly competitive market of financial advice books. The company is known for its easy to use trading methods.. It was always the mission of the company to provide the easiest way to get this information in people’s hands.
The result is an incredibly useful tool that benefits beginners and experienced traders alike. Today the company is seeing a growing trend in the wake of economic uncertainty and their products are needed more than ever before.
No chances, Rockwell Trading
In order to become a successful day trader, it is important to structure a system that will help you achieve your goals. The challenge in day trading for many is dealing with too much information. With fast moving markets and too much information at hand traders can become a victim of analysis paralysis. Out of Austin Texas, Rockwell Trading has blazed a path of exceptional leadership in the world of day trading and they have helped thousands of traders across the globe. Their body of tools and services have been developed to help traders achieve their goals. With simple methods that can be used in any market, Rockwell Trading helps traders understand trading techniques to find entries, exits, and to identify risk parameters before a trade is placed.