Day trading strategies: the complete guide with all the advanced tactics for stock and options trading strategies. Find here the tools you will need to invest in the forex market

Setting Profit Goals
If you were going to trade this way probably the best thing to do is to set a
specific level of modest profit to use as a goal. One that I use is $50 per
options contract. Some people may be more conservative so you could set a
goal of $30 profit. Some people might be more risk-oriented. I would
honestly discourage that kind of thinking because sitting there hoping for
$100 dollars profit per contract, while it is possible, you may also find
yourself in a situation more often than not where you lose money. What
might happen is you have to sit around waiting too long to hit that magic
number and it never materializes. Options can quickly turn from winners
into losers because they magnify the changes in the underlying stock price
by 100. So it’s very easy to lose money quickly.
In my experience, the $50 price level is pretty good. The only time that this
value has hurt me is when I see the $50 profit hit and I failed to sell my
positions because I got greedy watching the upward trend and hoped for
even more money. So that is something you should avoid it’s better to stick
to your law, whatever you happen to pick, and then always implemented no
matter what the situation is. Remember that there is always another day to
trade. You’re trading career never depends on a single trade or a single days
trading. The bottom line is that it’s better to take a small profit her option
contract and per trade and then go back and trade some more, then it is to
hope for large profits that may never materialize. Also, you can always
magnify small profits by trading multiple options at once. So if you trade 10
options and you’re only going to accept a $30 profit on the trade, which
means in total you could make $300. It doesn’t really matter what specific
number you pick, but you should pick a value and stick to it. If I have a

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regret from trading the only regret is that I didn’t stick to the rules that I
have set for myself.

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