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OptionSIZZLE is created to help you better understand and become more familiar with options and what the professional traders are doing everyday in the market and provide effective options trading strategies to allow you to trade better and trade smarter. We have found over the years some of the... More
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  • Why Size Matters; Especially In Options Trading

    (click to enlarge)

    A while ago I wrote a piece about how style drifting could kill your trading account. It's a must read in my opinion, which can be found here: Why Style Drifting Can Kill Your Success & Bank Roll.

    Today, I want to talk to you about another major blunder new (and even experienced) investors make. Like style drifting, it can do a lot of damage to one's account.

    What am I referring to?

    Investors can put themselves at a terrible disadvantage simply by sizing their positions incorrectly. This usually occurs when their position is too big relative to the risk and account size.

    The key to getting the relative sizing correctly is understanding the risks associated with the position. Let me walk you through a likely trade scenario an investor not familiar with relative sizing might make.

    For example, let's say on 7/31/14 an investor looking to take advantage of a short term move… sold call spreads in UVXY. UVXY is the PROSHARES Ultra VIX Short-Term Futures ETF. It attempts to replicate, net of expenses, twice the return of the S&P 500 VIX Short-Term Futures index for a single day.

    On 7/31/14, UVXY was trading at $31.70. Let's assume on that day an option investor sold 20 $36/$39 call spreads (expiring 8/8/14)…collecting a premium of $0.57 or a total $1140 (minus fees and commissions).

    Their goal is to get out of the position when the premium of the spread reaches $0.29…in which they would be buying back the spread for a profit of $560.

    Taking profits at 50% of the premium collected is a great level to exit…as outlined in Greater Profits in Less Time on Your Option Trades.

    The max risk on this trade at expiration is $4,860.00 (the value of the spread minus the premium collected multiplied by the number of contracts times the multiplier).

    $3 - $0.57= $2.43 x 20 = $48.60 x the multiplier of 100 shares = $4,860

    However, the option investor is only willing to risk $1,000 on the position on a $50,000 portfolio. They will buy back the spread for a loss if it gets close to $1.05. On 7/31/14, the UVXY exploded…moving up more than 16% and closed at $31.70.

    The investor felt that this was a good time to sell some premium as the UVXY has a history of sharp moves up followed by sharp declines.

    Well, on 8/1/14, UVXY continued to climb higher as fears escalated both geopolitically and within the US equity market. It finished the day up nearly 10% and closed at $34.73. The value of the spread closed at $0.93.

    Although the investor was looking at a paper loss of $720, they decided to get out of the position… if UVXY gapped up on the following Monday, it would probably get past the amount they were willing to lose.

    (Note: UVXY is a product I wouldn't personally sell call spreads on…I'll explain my reason a little bit later.)

    Now, when I typically short premium via structured trades… I size the trade to represent my max risk and play the odds. For example, if I were to put on this trade and was risking $1,000 on the trade…I'd sell 4 call spreads which would have a max risk of $972.

    I'm not a proponent of stopping out of short premium trades.

    As you know, most options expire worthless. However, there are cases where outliers occur and short premium trades go ITM and end up being losers.

    By sizing my trades according to the amount I'm willing to lose…I'm not really stressed about any large overnight moves or morning gaps.

    You see, I've already outlined my line in the sand.

    In fact, this is one of the problems that I have noticed with those that use option strategies like iron condors.

    In the SPX Method, I teach a few specific techniques on how to enter iron condors through the use of weekly options for short & long term opportunities; that attempt to stack the potential profits & probabilities in our favor.

    Now, I'm extremely disciplined about following my rules. I know that if option volatility isn't elevated (or rich)…it doesn't make sense to add on more risk (to receive a greater premium) because that's how potentially big losses can occur.

    Some of my clients achieve a great deal of success after a few weeks of learning my simple rules-based approach. However, when some tell me their profits, relative to their account size. I won't hesitate to let them know if they're taking on too much risk and sizing poorly.

    Of course, some listen…but others will still size up to big…thinking that they will always have a chance to get out of position before it reaches max loss. But sometimes it doesn't work that way…stocks can gap up or down pre-market…and you may never get a chance to cut losses at desired levels.

    If you're over-leveraged or sized incorrectly…one loss can wipe out several weeks or months of gains. Not only that, but if you're sized up too much…you might not have enough capital to adjust the position if it starts moving south.

    I just wanted to mention my approach and what has worked for me…however, I understand that some investors like to use more leverage on their trades.

    For that reason, I'll explain to you what else you need to take into consideration if you trade bigger than what you're willing to lose.

    So where did our option investor go wrong?

    First, they were trading options that were expiring in a little bit over a week. By selling 20 call spreads right off the bat, they didn't give themselves a whole lot of margin for error.

    These short call spreads were still OTM, meaning the time decay and option volatility would really get sucked out of the option premium… if UVXY prices declined or even traded flat for a couple of days.

    By fully sizing up, you leave yourself no margin for error.

    In fact, if they still believed in the trade they would of have probably wanted to sell more call spreads at those strike prices or even further out for higher premiums.

    However, they were forced to get defensive because they were sized up incorrectly.

    (Note: The following Monday, UVXY traded at $31.50…down 9%…the value of the call spread was $0.47. On Tuesday, it rebounded to $35.93…the value of the call spread was back to around $1.00. In 3 Ways To Keep More Profits & Know When To Sell, I explain the importance of closing out a position into strength.)

    What other information can we use to figure out the right size if you're going to use more leverage?

    Well, we need to know the risk associated with the trade or position.

    Are there any event or headline risks?

    Like an earnings announcement, conference call, analyst day, economic data release, Federal Reserve or other central bank meetings in the coming future, legal verdicts coming out, possible M&A or a reaction to earnings etc.

    In this example, the UVXY ETF is associated with fear in the marketplace. The event or headline risk would be macroeconomic as well as geopolitical.

    Are there any key technical levels?

    Some questions to ask yourself: Is a key moving average that is broken, support or resistance levels violated, a spike below or above the VWAP or whatever technical indicator you're looking at.

    Now, I know some option investors who don't use price charts or technical analysis; some are very successful.

    However, even if you don't…understand that there are other traders who do (with serious money behind them)…just knowing what levels they might be getting in and out of could be some useful information.

    Is There Liquidity Risk?

    During periods of high volatility…option and stock bid/ask spreads widen. Always play out a worse-case scenario in your head and try to calculate what the damage could be.

    For example, the value of the spread when the investor got out was $0.93… but good luck getting out that price….most likely they would have had to pay up to exit the trade.

    Sometimes the theoretical or mid-market price of an option…is just that…theoretical. The only thing that matters is what you can buy or sell at.

    If you'd like my shortcut on how I judge the competitiveness of the bid/ask spread read What Are The Best Stocks To Trade Weekly Options?

    Are you giving yourself enough margin for error when looking at the volatility?

    Over the last year, UVXY has had 23 (+/-) 10% single day moves or greater. In addition, option volatility can really take off in this ETF.

    For example, on 7/24/14 the 30-day option volatility in UVXY was 105.3% …on 8/1/14 the 30-day option volatility was 158.63% …on 8/4/14 the 30-day option volatility went down to 132.1%…on 8/5/14 the 30-day option volatility was back to 152.1%

    Pretty wild…right?

    (These kind of swings along with the wide bid/ask spreads and the upside risk are the reasons why I don't like selling call spreads in this ETF)

    The 52 week high in option volatility in UVXY is 185.18%. Again, the investor in our example was probably thinking now is a good level to short some premium.

    However, they wasted all there bullets without any room for error. Going all in or full size was not the right play in this situation.

    You see, it's important to have some kind of perspective and understanding of the stock or ETF you're trading. The type of move we saw in UVXY is not uncommon relative to how it trades.

    The option investor should have been aware of this and sized smaller.

    I like to keep it simple by using the tools offered on my thinkorswim platform. They rank volatility levels in percentiles…easily allowing me to see where we are now compared to where we've been in the past.

    Putting volatility levels into context is essential if you're going to be using options to express investment ideas.

    Examine the time frame?

    In Greater Profits in Less Time On Your Option Trades, I share a story of one of my trades, where I had to close out a position because I was leaving to go to a dentist appointment.

    I bought back some short puts for $0.10 expiring in an hour…those options that I bought back ended up closing deep ITM.

    Again, near-term options have the potential from being deep OTM to deep ITM very quickly (and vice-versa). Position sizing is critical for near term options… it doesn't matter if you're buying or selling premium.

    In many cases, if I do buy premium on an option expiring in a short time frame…I'll make it a binary trade.

    Basically the premium spent on the position is what I'm willing to lose. For example, if options are $0.50 and I want to risk $500 max on the trade…I will buy 10 contracts. If I get my move…I'll take my profits.

    Too many times… traders will buy 20 or 30 contracts under the same risk parameters…see the options go to $0.30 and get out…only to see the stock start moving in their direction…but no longer in the position.

    The same could be said for those who sell weekly options on Thursday or Friday…the options have the potential to move very quickly…if you're sized up too much…you'll be out of the trade with a loss before you even got a chance to see the idea play out.

    For longer term time frames you have to be more concerned about the volatility risk. A classic example is a biotech company that announces their drug results in a couple of weeks.

    In anticipation, traders start buying and selling options in the contract month the announcement will be made. Of course, option volatility rises due to the uncertainty of the outcome.

    Again, you almost have to treat these like binary trades as well. Even if you think you've got time on your options… anything could happen. For example, they could come out and say that will not have their results ready and change the announcement date to something else.

    Those who bought option premium will see the value of those options lose a lot of value because of the volatility crush.

    (For the record, I don't usually trade biotech's because of all these wild card factors)

    Putting it all Together

    Relative sizing is one of the toughest things to get right as an investor or trader. If you invest for a long enough time…you're bound to get it wrong on some positions. The key is trying to get a deeper understanding of the risk associated with the position, what option factors influence (time, volatility, stock price movement) it and how.

    For me, I like to play the number's game and let the probabilities work out… by sizing my positions with the max risk already set in place. However, I understand that some of you have a little bit more risk tolerance than me… so I wanted to show you what else to consider when taking on more risk by sizing up.

    Obviously experience is the best teacher…but I'm also here to help.

    In the UVXY example, the investor should have kept their sizing small in case they were off with the timing of the trade.

    With that said, I'd love to hear your story…have you ever gotten into a position where your relative sizing was off? If so, what did you learn from it?

    Aug 07 3:07 PM | Link | Comment!
  • 3 Ways To Keep More Profits & Know When To Sell

    (click to enlarge)For some traders knowing when to exit a profitable trade is a lot harder than finding a good trading candidate. After all, you're not only managing a position…you're managing emotions. Unfortunately, there are no hard rules to follow.

    In most cases, it's situational.

    However, I'll try to share some thoughts that could probably help.

    When you're buying premium and playing for direction, you want to know how much you make on a winning trade compared to a losing trade. Some traders can actually end up being net profitable even if they only win 35-40% of their overall trades.


    Well, their average winning trade is significantly larger than their average losing trade.

    Furthermore, it's important to have some statistics on your trading results. If you're a new trader, you need to record your performance. I touched on this in Why Style Drifting Can Kill Your Success & Bank Roll…but would like to expand it here.

    What you should record:

    How many trades do you put on (daily, weekly, monthly, yearly)

    How many trades are winners (gross)

    How many traders are losers (gross)

    What are all your fees

    What are your net realized gains after fees

    What are your net realized losses after fees

    What is your winning percentage

    What is your win/loss ratio

    You see, knowing how much you win and lose on average…along with your winning percentage will give you great insight on what kind of adjustments you'll need to make to become a profitable trader.

    In an earlier example I mentioned there are traders who can get away with winning less because their win size/loss size ratio is high. On the flip side, there are traders who can win 55% of their trades and still end up being net losers.

    They either can't cover fees or their average losing trading is much greater than their average winning trade. For example, if your average winning trade is $1,000 but your average losing trade is $1,200…you won't make it if you win 54% of your trades.

    In this case, you've got to let your winners run more…or tighten up your risk…so that losses become smaller.

    With that said, it's important to recognize the type of trade you're in.

    For example, if you bought NETFLIX ATM calls ahead of earnings you should be aware that volatility will get sucked out of the options… and if the stock price barely moves or sells off…those options will get killed.

    This is a high risk/potentially high reward trade. Knowing this, you should prepare for the worst-what you could potentially lose if you're wrong.

    I'd also put biotech stocks in the high risk/potentially high reward category.

    For more information on identifying the type of trade you're in, check out: When to Stop Out of A Trade And Take A Loss.

    Now, if you're using options to express a technical view on a stock. You might want to do some "what if" analysis. Most brokerage platforms have position analyzers. For example, if you use thinkorswim (like me)…you can "play" around with the analyzer….

    …what will my options be worth if the stock reaches this level?

    …what will my options be worth in a couple days if the stock stays flat?

    …what will happen to my options if implied volatility comes in a couple points?

    By doing this type of what if analysis you'll have an idea of what your options will be worth under various scenarios. In addition, you'll have insight on how long the options can be held for until the time decay starts accelerating.

    The position analyzer is a great feature for those technical traders who want to know how various price levels will affect the value of an option under different volatility moves and time frames.

    What If you buy options based on unusual options activity?

    This one is a little trickier because you're following the smart money…but it's not your idea. Unlike trading an event or a technical pattern…you're not always sure why the smart money has gotten into the trade.

    In most cases, the options market is forward looking and ahead of the news. Was This 2 Million Dollar Options Trade Ethical? is a great example of this.

    That's why it's important to tap into your inner detective…which is covered in some detail in : When to Stop Out of A Trade And Take A Loss and more in depth in this FREE Report.

    Again, knowing what your average win rate, win size/loss size ratio, average winning trade and average losing trade can really help.

    You'll hear many professionals tell you to trade your position and not your PnL. Of course, this is easier said than done. For example, I know some traders who will get less aggressive on a trade they like if they are getting hurt in other positions.

    Or they might take profits a little early to make sure they cover their losses in another trade. Is this the right way to trade?

    Probably not…but it will help you avoid large drawdowns.

    Piecing Out

    One method of taking profits is to scale out of a position. For example, let's say you buy 10 call options for $1.00 apiece. The options start moving up to $1.30. The trader sells 8 calls for $1.30. The trader makes $240 in profits, they are left with 2 options that initially cost $200.

    This trade guarantees a profit, with two runners. The trader could hold the rest of the call options and see where they go. This is just an example, different configurations could be used. Is this how you should trade?

    Again, hard to say…what if the stock really runs…if you held all 10 of those calls…they would have given you incredible gains. Remember, options offer convex payouts…unlike stocks they don't move in a linear fashion.

    For example, on Monday, July 21, 2014. Herbalife 7/25 $50 puts opened at .25 when the stock was around $60 per share…the stock fell 11% and option volatility exploded after Bill Ackman announced he would give a presentation on why the company is a fraud….those $50 puts traded as high as $2.50…if you pieced out…you could have missed out on some nice gains.

    Is it smart to piece out? It could be…again, it depends on your numbers and what your losing trades look like. If you are a responsible trader with who doesn't take big losses…then piecing out or scaling out will work.

    In fact, it's a technique that I use very often.

    Of course, there will be times when you piece out and the stock really moves…probably wanting to kick yourself for not holding the full position. But that's trading…successful investors and traders I know and have met know that it's about longevity, not getting greedy, taking a little bit out of the market and stacking your chips.

    After all, no one can really pick tops or bottoms-and that the stock market can be very random at times.

    Sure, lady luck could be on your side when the stocks in your direction when your fully sized up…capturing massive gains…but when you're buying options and playing direction…when you that move…it makes sense to sell in it.

    Remember, when you are buying options you're not only playing direction…but you're also long option volatility and it's a race against time.

    In addition, you've got to take into account the opportunity cost. For example, money allocated in one position means less money available for another. Having some dry powder for the next opportunity is never a bad idea.

    For me, the decision is an easy one…sell into strength…if I miss a bigger move with less positions on…so be it. I know my numbers and what I've got to do to be successful.

    On to the next trade.

    I bring this up because last month some members of the OptionSIZZLE community followed very large unusual call buyers in September $50 calls in Twitter on June 12th….The large buyers paid between .80 and .90 cents on over 60k contracts. Within three weeks, those options more than doubled…some are still holding…at the time of this writing those options are trading .47 cents.

    If they pieced out, they would have taken their profits and had capital free for the next opportunity. Not saying that this trade doesn't have a chance to still work…but you've always got to look at your opportunity cost.

    And for those Herbalife put buyers…if they held those options on Tuesday they would have seen the stock rise over 25% and the option volatility get crushed.

    It's examples like this (which happen way too often) why I piece out of my trades.

    Now, here are some advanced alternatives to taking profits. Always keep in mind that costs associated with trading…bid/ask spread and commissions.


    Another way one could take profits is rolling out of your position. For example, let's say you bought 10 of the 7/25 50 puts for $1.00 and sold them for $2.00. You could take your $1000 in profits and buy another strike or contract month. This gives you chance to still gain…while only risking profits.

    You might want to roll your position to reduce the size the of your premium exposure. In addition, you could do it to increase your leverage…while reducing risk. For example, let's assume the trader still felt that Herbalife had more room to go down.

    They could have taken their profits and 13 bought 7/25 $44 puts for .70. In this example, they have more leverage (13 contracts) but less risk.

    Is this a viable alternative? Possibly, but I wouldn't do it with this stock. Why? Because Herbalife options are tough to trade. If you don't know what I mean, just read What Are The Best Stocks To Trade Weekly Options? In it I go over my criteria on finding good options that are tradable.


    If you're in a long term option trade that has profits, spreading might make sense. For example, let's say you bought ATM options that are 200 days till expiration. The calls you bought doubled from $2 to $4….however, you still like the trade but don't feel comfortable with having that much premium concentrated in the position.

    You might look to sell some further out of the money options to collect a $1 premium. This reduces your overall exposure…while keeping your trade in play.

    You could also do this with near term options if the implied volatility is high enough.


    Another way to keep the trade alive is by hedging. For example, you bought bullish calls and still believe in the trade. You might want look at buying puts to hedge against an adverse move. Keep in mind, you may be adding to the risk. For example, if the stock trades sideways…the time decay will come out of the calls and puts.

    Furthermore, it's best to do what if analysis if you want to go this route. After plotting the trade in your position/risk analyzer…you'll know if it makes sense or not.

    What Should You Do?

    As you can see, there are several approaches to taking profits. To be honest, we know the best answer after the fact.

    "Oh If I just held those options, I'd be up X amount of dollars now"

    "I should have sold here, but now it's too late"

    "I sold way too early"

    Again, if we knew the perfect time when to sell our winners trading would be easy. There are no hard rules. The best thing you can do is familiarize yourself with your trading performance, identify the type of trade you're in and do some what if analysis.

    Piecing out, rolling, spreading and hedging are viable methods worth exploring…but the right answer/technique is always found out after the fact.

    What about getting out of short premium trades?

    Well, I'll be covering that next for you. What I will say is that it's a completely different approach than taking profits on long premium positions. In fact, it's a lot easier to understand in my opinion.

    By the way, which of these three techniques will you start using first to take profits on winning trades?

    I'll be hanging out in the comments section below.



    Join For Free To Receive My Ideas & Market Commentary I Only Share In Email

    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Jul 23 4:55 PM | Link | Comment!
  • Why Style Drifting Can Kill Your Success & Bank Roll

    (click to enlarge)Getting started with option investing or trading is not easy…especially with so many "education" vendors out there-promising that their services are the only thing you'll need to be consistently profitable.

    The reality is-most of them are just plain awful…lacking the knowledge and experience needed to help investors strive in today's market.

    However, I'm thankful for them…because they get people engaged and involved in the market.

    Eventually, they stumble across OptionSIZZLE…which gives me an opportunity to show them the right way to approach the financial markets. Now, I was fortunate enough to see the power of unusual option activity (and following smart money trades) very early in my career.

    In fact, I saw it work with my own eyes when I was a runner on the floor of the Chicago Mercantile Exchange (NASDAQ:CME).

    To do this day, I believe it's the best indicator for finding potentially profitable trades-my number one method for generating ideas.

    Does this mean that it's the only way to make money from the markets?

    Absolutely not.

    But I know it works…and have seen it work…more times that I can remember. But trading ideas can come from so many different places. For example, some traders like to focus on the technical landscape, looking for patterns in charts that may provide information on where a particular stock may be headed next.

    Others, might ignore price charts and focus solely on the fundamentals of the company.

    Furthermore, there are traders who focus on news, earnings and economic releases. Their skill lies in their ability to digest the information and make an opinion on whether or not the market participants are gauging the new information correctly.

    I could keep going, but I think you get the picture. The bottom line, there are many ways to skin a cat.

    Which method is the best?

    Well, it really depends on what you're comfortable with. It's going to take some trial error to piece it all together. In the beginning of your investing or trading career, it makes sense to explore several different methods to see which you feel works and what you're comfortable with.

    I myself, am very active in selling option premium and creating structured trades, which I believe creates a higher probability of success than buying option premium. In fact, statistics and research backs my belief. However, I still have people that tell me that they only buy options.

    In any event, learning how to make money from the market is not a skill we're born with…it's something we all have to learn.

    Heck, I passed several security exams to get in the industry as a professional…but still managed to lose over $2k on my first ever options trade.

    Once you've identified the "style" of trading that works…you try to improving your method…refining and tweaking your techniques as the market evolves.

    One major issue new and sometimes experienced traders make is "style drifting." It's when you put on trades that are out of your wheelhouse or take someone else's trade idea without fully understanding the merits behind it.

    For example, let's say you generate ideas from researching stock charts and thought a particular stock looked bearish…however, there is breaking news-a rumor that the company is going to be acquired. With that said, you jump in and buy calls in the stock.

    An hour later, it turns out the rumor is unwarranted and the stock price starts dropping hard…the volatility in the calls get sucked out and lose half their value.

    In the example, the trader's strength lies in reading price charts-not dissecting news. They didn't know how reliable the source was or whether or not the story had merits. They simply hoped that it was true and they would catch a quick pop in the stock price.

    Not only did the trader lose money…but they probably cursed themselves out a little bit for not sticking to their trading plan and staying disciplined.

    Here's another one…a trader focuses on longer term option strategies, mainly trend trades that last a month or two. They don't like weekly options because they feel they move to fast for them…the rapid fluctuations often cause them to exit at the worst times.

    However, longer term option trades give them time to see their idea evolve without panicking if it doesn't work right away.

    For some reason, they feel compelled to buy some weekly options in a stock mentioned by a guy with ponytail on TV …hoping that this time would be different and they'd have success with weekly options.

    It turned out that the stock options did pop on the mention….however, not enough to get out (when you factor in commissions)…a day later the stock didn't move and the time decay crushed the value of the options.

    Again, a situation of taking someone else's trade idea…and putting something on in which the trader has struggled with in the past and doesn't feel comfortable.

    Style drifting can happen out of boredom…excitement…the desire to make money even when opportunities are limited.

    In order to fight the urges, you've got to focus on your process…treat investing or trading like a business…your job is not take make trades everyday…it's to find opportunities that give you a chance to make money….and if there are no opportunities that day-it's OK.

    It's a terrible feeling when you make money from your A Trade…but instead of adding gains to your portfolio…it's making up for losses you made from style drifting. Without a doubt, this requires patience and discipline…but it's well worth it. It pays to stick to your bread and butter trades when building your trading account…you'll thank yourself in the long run.

    How Can You Figure Out What Your A Trades Are?

    Keep a journal and record your ideas, trades and overall feelings on a daily, weekly or monthly basis (depending on how active you are).

    You see, by keeping notes on why you got into a trade, the risk you took, trade specifics (option strike, expiration, option premium spent or received, # of contracts bought or sold, implied volatility, historical volatility, option greeks, the bid/ask spread, date position optioned, adjusted and closed etc.).

    In addition I rate my mood and energy level.

    For example, I rate my overall emotions from 1-5 scale…a 1 being: Feel Great…and 5 being: Feel Rubbish.

    Eventually you'll have enough stats on your performance to identify what you do well…and what you struggle with.

    For example, let's assume you think you trade earnings well…however, looking back at your journal, you find out that you actually stink at trading earnings.

    Instead of relying on your feelings or memory…you can go back and look at the numbers for some hard evidence.

    It's very similar to a sports team watching game film after each competition. They study what they did right…what did they did wrong…and what they have to do to improve for their next game.

    You might see it at the health club, individuals writing down the exercises they're doing, the amount of time spent…if they're lifting weights, the number of sets and weight being used. They do it to track progress, improvement and make adjustments.

    And believe me…keeping a journal is extremely important when you're just starting out as an options investor or trader. I recently read that Lebron James gets a four-page scouting report before every game…while his teammates get a two-page report.

    Talk about studying and preparation!

    By the way, two great places to journal are EVERNOTE and Google Docs. And yes…they are both free.

    Now, if you're still in that trial and error stage…trying to figure out what you're A Trade will be… check out my free report on how I use unusual options activity to find tomorrow's big stock movers.

    Have you ever caught yourself style drifting?

    If so, I'd love to hear your story…it happens to the best of us.

    I'll be hanging out in the comments section below.


    Join For Free To Receive My Ideas & Market Commentary I Only Share In Email

    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Jul 16 5:12 PM | Link | Comment!
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