Too many option traders fail because they load themselves with tons of option trading knowledge but do nothing to ensure that their emotions don’t get in the way. Yes, more than 95% of the option traders out there fail because of a complete lack of discipline and ability to control their emotions.
Here are 5 tips every option trader can use to ensure a healthier mindset and mental health while option trading:
1. 8 Hours Of Sleep A Day!
Yes! This is the most basic of all mental conditioning! Have ample rest! Many option traders who trade the US markets from the other side of the globe at night and option traders who do their research at night are high risk groups. Over time, your mind and body grows weary and tired. You become hot tempered and do all the wrong things and say all the wrong things at the wrong time…. And lose money.