New Traders - Consider Slowing Down
Obviously doesn’t apply to all, but I’ve seen three folks this week lose a years plus worth of gains because they thought they figured options out over the course of their 6 month investing career. It’s super unfortunate to see. We can guard against this by slowing down, and thinking through what we’re doing. I was just helping another trader that STO a put vice BTO. They’ll have a losing position on Monday to exit, shouldn’t be too bad but nonetheless a completely preventable mistake.
The markets are quick to take your money, it’s an unforgiving place to learn.
Please remember, it’s truly not a sprint. Not even an annual event. Our performance is built over decades. Take it slow and make time to learn what you’re doing - your future self will thank you.
I made my largest investing mistake less than 2 years into my investing career and it crushed a sizable portion of my account. It happens to many of us but leverage the community so you don’t need to make the mistakes - learn from those who have been around a for a while.
Be an Outlier! Erik