Options Made Easy: Your Guide to Profitable Trading, Third Edition

Chapter 11. Putting It All Together—A Call to Action

So now that you’re armed with several options strategies, all you need is a trading plan. You should trade only when the odds are stacked in your favor. Professional card players operate in this way. By counting the cards (a proven technique not encouraged by the casinos), the pros can identify periods of high and low probability for placing higher or lower bets and adjust their bet size accordingly. Professional traders stick to a plan that proves itself over the medium term, and they don’t just trade for the sake of it or because of boredom and something to do. My own trading systems are discretionary in nature, but they are governed by rules that must be adhered to for the best results. ...