I read a post which is eye opening to me on kirk's blog: Learning How To Trade .
A most successful options specialist said the winning rule is:
- I never make big bets.
- I want you to take a $100,000 paper option account and try to lose all of the money.
He said being a good trader is not about making money. Making money is about being a good trader. And being a good trader is about having the right rules to make a decision and then following those rules. So when you try to lose money, you are just as likely to fail as you are when you try to make money. The difference being in this exercise is to separate the two motivations. |
I'd like to begin this kind of losing money paper trade ASAP.
