Mistakes to Avoid in Options Trading (Chapter 1)

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 Mistakes to Avoid in Options Trading   

 Trading is not an easy thing. Most of you do not know that. You just start the business with no plans, tips, and strategies. How do you even expect to survive? Entering into the options trading game with so much excitement, forgetting the crucial things you need to do will lead you nowhere. Mistakes eventually arise, and you become stranded on what to do. You will be informed of some of the mistakes traders commit and the ways you can shun from those mistakes.    

Common Options Trading Mistakes   

There are several common mistakes that traders commit while trading options. Below is a detailed list you can go through it.   Lacking a trading plan. Most traders enter into the options trading game without a plan. You have got a high potential for loss. Failure to organize you into trading is preparing to fail. Without guidelines, you cannot make it in trading. All your goals of making money will be destroyed. When you buy or sell that option, you will be incurring a lot of losses. Lacking an exit strategy. When your plans fail to work out, what do you do? Do you just implement rushing decisions on your trading? An escape plan comes in handy here. Having an exit plan is very crucial in all trading. You can control your profits and losses. Most traders fail to have a detailed escape plan, which makes them fail tremendously. You lose all your money and fail in trading. Having ignorance at the time of expiry. 

Options have a date of expiration. It is an important factor when purchasing calls and buying put options. Most traders fail to recognize this factor and end up messing up the last minute. Options lose their value when you are closer to the time of expiration. Buying options with the mentality that they are cheap. Cheap is expensive. 

Cheap options have lower premiums compared to the expensive ones. You will earn little or no cash with cheap options with many losses. Options that are out of the money are not friendly at all, especially for beginners in options trading. Selecting the wrong trade. Working on a trade that you cannot handle can land you into big trouble. There is a high potential for bigger risks. Work on the trade you can manage to succeed. Putting effort into complex stuff than your ability is a total failure. Many traders who get themselves on the wrong trade lose a lot of their money and precious time. Depending on guesswork. Too much guesswork in options trading is a risky game. 

Guesswork like the rise and fall in the stock’s price is not an advisable strategy. You should take advantage of the tools of research, analysis, and education materials. Tools for analysis help in analyzing outcomes in a detailed manner as compared to guesswork. Education materials will empower your knowledge a lot in trading, and you will be aware of the basic concepts. The research tool will assist in the formulation of strategies to be used in trading. The use of guesswork will surprise you a lot with the trading failures. Ignoring protective stop loss. Failing to have a stop loss is a really bad idea. 

You can fail tremendously in trading. Most traders, who prefer to cheap options, wait to go out of the market when the option becomes fruitful, or it declines when it reaches the time of expiration. Being over-optimistic. Optimism is always acceptable though being over-optimistic is another bad idea. Options trading are all about performing some mathematical calculations and coming up with the right figures for your returns and losses. Putting a positive mind always is not healthy in trading since many risks are involved here. You need to be prepared for the losses that might occur and be ready enough to handle them. Using only one strategy. 

There exists some information about the many strategies you can implement in options trading. You need to go through the many strategies before deciding you will settle on which strategy. You not advised to rely on only one strategy. Having different strategies will help a lot. In case one trading strategy fails yet you are in a critical situation, you can implement another successful strategy as quickly as possible. Your trading will experience no delay. You should consider mostly the simple and crucial strategies that are needed to be implemented in all options trading. 

An example of the strategies is the covered call strategy.  Trading with a bigger bite. What’s all with the rush? A successful money-making procedure requires smaller and sure moves other than big and weak moves. Take your time in trading and go at the right speed. Do not be so greedy for the money that you make complex decisions ending up losing everything. Good things take time. You need to accept that fact. When you utilize much of your cash, there are higher chances of bigger losses other than just spending a little money.  

Lacking persistence and consistency. Trading is not like any other business that makes a huge amount of money just in the few days after entering the business. First and foremost, trading is tough and risky. You need to persist with all the risks and also be consistent. Most traders give up when there are occurrences of risks in trading. Keep pushing hard and of course, everything will work out fine. Failing to accept uncertainties. All markets have imperfections.

It’s About Them... Not You

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It’s About Them... Not You 

 

Do you notice what all of those things have in common? If you truly want to become a developer of people, it can’t be about you. You’re not the center of the relationship; the other person is. You may not even get the credit for helping them grow. (In fact, most likely you won’t.) That can’t be why you’re doing it. You have to do it for them. If you’re thinking that you hope one day to be “the wise one,” always ready with some answer or solution, then you’re already starting from a deficit. 

The ripples of genuine life change can only radiate out from a center of humility. Only if you’re willing to invest yourself into another person’s life will you be able to develop them. If you can authentically earn their trust, and on the terms that they need, only then will you be in a position where they’ll be willing to learn from you. If you’ve wanted to be a better developer of people in the past, but you’ve struggled to get good at it, be encouraged: you can do this. Maybe all you need is to turn over a new leaf: learn to make the other person the center of attention, and to help them discover how to pursue becoming the person God made them to be. Anytime we’re not sure where to start, it’s always a good idea to look to Jesus. In Matthew 20, Jesus set the example for how we can make others the center of attention. In verse 20, the mother of James and John comes to Jesus and, kneeling down, asks a favor of him: What is it you want?” he asked. She said, “Grant that one of these two sons of mine may sit at your right and the other at your left in your kingdom.” You don’t know what you are asking,” Jesus said to them. “Can you drink the cup I am going to drink?” We can,” they answered. 

Jesus said to them, “You will indeed drink from my cup, but to sit at my right or left is not for me to grant. These places belong to those for whom they have been prepared by my Father.” When the ten heard about this, they were indignant with the two brothers. Jesus called them together and said, “You know that the rulers of the Gentiles lord it over them, and their high officials exercise authority over them. Not so with you. Instead, whoever wants to become great among you must be your servant, and whoever wants to be first must be your slave — just as the Son of Man did not come to be served, but to serve, and to give his life as a ransom for many.” 

(Matthew 20:20-28, NIV) 

She was asking for something that would elevate her sons to a position higher than that of Jesus’ other disciples. Now let’s look at how Jesus responds. First, he checks in with them to see if they’d even be willing to do what it would take to get there. Would they be willing to suffer equally with him? Self-sacrifice? They say that they would. Then Jesus acknowledges that they would, essentially validating that their motives are right. But then Jesus takes a sharp turn. He explains that even though that kind of influence is possible, it isn’t achieved in the ways that we might expect: through power, authority, knowledge, and other means we might consider more “conventional.” No, he says that instead, influence results from helping others. He says that those who want to be servants. He then takes that further 

— “whoever wants to be first must be your slave” — 

indicating that there are actually degrees of servanthood. This gets right to the heart of what our mindset should be as people-developers. the degree of our influence in a person’s life is directly tied to how much we help them Influence in another person’s life is not about you, not about your agenda, not about your wisdom. It’s about them. You simply need to be committed to helping others be all that God made them to be. 

Each of us has several roles that we play in the lives of others: 

• As parents, fostering growth in our kids is not about asserting our authority or being viewed as great parents; it’s about enabling our kids to become who God made them to be. 
• As leaders, fostering growth is not about our authority or position; it’s about how well we empower our charges to succeed in their role and become who God made them to be. 
• As mentors, fostering growth isn’t about building our reputation as the local Solomon; it’s about equipping others to think for themselves, to choose to act, and to discover more confidence and self-awareness. 
• As small group leaders, fostering growth isn’t about convincing others to think of us as great teachers or even facilitators; it’s about fostering group discussion that leads each person in the group to accept responsibility, become more self-aware, and choose steps that will lead them toward growth. 

Instead of me trying to think of even more ways to tell you how very important all of this is, let’s just leave this topic with some really wise words from Paul: Do nothing out of selfish ambition or vain conceit. Rather, in humility value others above yourselves, not looking to your own interests but each of you to the interests of the others. In your relationships with one another, have the same mindset as Christ Jesus: Who, being in very nature God, did not consider equality with God something to be used to his own advantage; rather, he made himself nothing by taking the very nature of a servant... (Philippians 2:3-7a, NIV)

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Reliable Indicators for Growth 

 

Just as the process of growth is completely predictable, here are four principles of personal growth that you can take to the bank. When you’re engaging in helping others grow, keep an eye out to make sure all four are present. If these things aren’t happening, growth’s not going to happen either. 

1. Growth only happens when we’re in the game. 

Simply reading a book or taking a class won’t cause change. It was only because Allison and I had already been working together for a long time that her insights carried enough weight with me that I was challenged to grow. You can expect that to be true in your life most of the time. everyday life is where we discover possibilities for growth, pursue self-awareness, choose action steps, learn, practice, fail, adjust ...and see growth Perhaps the greatest example we have is Jesus, the best people-developer of all time. Jesus developed each of his disciples while they were in the process of living life. We find one example in Luke chapter 10, where Mary and Martha, who were sisters, had welcomed Jesus into their home as a guest. Mary wanted only to sit at Jesus’ feet and listen to him, while Martha busied herself trying to be a good host. Martha eventually grew angry enough with her sister that she asked Jesus to tell Mary to help her. Jesus turned their tension into a teachable moment, sharing an observation about choosing priorities. Through that experience, Martha learned something a person can’t learn in a classroom. And that’s exactly how Jesus developed all of his followers. There was no “how to be a follower of Jesus” class; Jesus simply taught them as they were in the natural process of experiencing life together, talking and asking them questions as things happened that they didn’t understand. 

2. Growth only happens when we take ownership of it. 

No one can make me grow. External forces can’t impose growth on me, can’t force it to happen. I have to choose to actively pursue growth for myself. My motivation has to come from inside, and I have to do the work to develop myself toward the outcomes I want to see. If John had just called me one day out of the blue and said, “Hey Jeff, let’s read a book together!” that would not have motivated me. Because I looked up to John, and because he’s a friend, I probably would have agreed to do it out of obligation. But that doesn’t mean I would have had the initiative (or the energy!) to allow it to make changes in my life. There’s a wide gap between simply discussing a book with a friend and actively pursuing opportunities to change my behavior. But of course that’s not how it happened. I was internally motivated. I already wanted change. I was actively reaching out for help. So when John suggested a book, not only was I eager to read it, that actually sounded like a pretty easy way to start! In Luke 10, Jesus sends out seventy-two of his followers, tasking them with preparing surrounding communities in advance of his visits there. Even if you’re familiar with this passage, I’d like you to go back and have another look; specifically, I want you to notice the approach Jesus has his disciples use. Beginning in verse 5, he essentially tells them to focus their efforts only on those who seem interested in hearing what they have to say. Then in verse 10, he tells them not to waste their time on communities that aren’t open to their message, and just move on to the next place. Why would he tell them this? Because Jesus knew this foundational principle: people only grow when they own their own growth It’s important to make clear that Jesus wasn’t “giving up” on people who rejected his message; he was merely being practical and honest: if people aren’t ready for change, then it’s better to just pass on by at that time. Change is only going to happen when people are internally motivated to begin seeing things differently. 

3. Growth begins with self-awareness. 

Self-awareness is like a springboard toward personal growth and development. That first conversation I had with Allison was like a good, hard look in the mirror. I had to come to grips with the reality that the way I perceived myself was different than the way she perceived me. And I can tell you: that motivated me to change. It also clearly identified for me some specific things I needed to change. The primary approach Jesus used for teaching truth, whether it was to his followers or to the crowds gathering to hear him, were parables. But don’t let a word you don’t hear in everyday conversation overcomplicate what it actually is; we would call them stories. A parable is simply a story that helps make a point. In Matthew 13:10, Jesus’ disciples ask him directly why he uses so many stories. In their experience, most teachers of their day would instead outline rules, then list the positive outcomes that would happen if people obeyed...and the negative consequences if they didn’t. Jesus explains that he tells stories to create readiness and to nudge people to be receptive to new insights about truth and life. He goes on to explain that people can hear speeches day in and day out, but that won’t change their lives. Jesus recognized it was critical for a person to first imagine themselves in a different light; once they could do that, it opened the door to growth and life change for them. We can see this same principle at work in how Jesus responds to Nicodemus in John 3. Nicodemus was one of many leaders of a Jewish religious group called the Sanhedrin, but it wasn’t until Nicodemus saw himself in a new light that he became aware of how God truly wanted to transform his life. He had to reach his Light Bulb Moment before change could occur. Just think about this: isn’t that same thing also true of you? You see yourself how you really are, usually in a specific area of your life (health, self-discipline, finances, generosity, and so on). Then you picture a different you in the future, a you that you think you would like better, a you that you could be in that area. your objective for the people you want to help develop is to help them discover those same ‘Eureka!’ moments for themselves 

4. It is nearly impossible to grow without trusted relationships. 

We’ve already seen how important trusted relationships are throughout the predictable growth model. We need others in our lives who can give us both perspective and support — friends and mentors who will challenge us to imagine a better way. As we might expect, this is exactly the way Jesus interacted with his disciples. He spent time getting to know them. He built credibility with them through his consistent behavior. The disciples knew they could count on Jesus and that he ultimately had their best interests at heart. That trust changed their lives, which of course led them to change the world. And that same approach still works today: one relationship at a time. John was one of my most trusted relationships. Because we were already good friends, I knew I could trust him, so I was willing to really spill my guts, not just about what was happening, but how I felt about it. John responded first by asking me great questions and challenging me. He also encouraged me over time. Once I saw the things I needed to change, I could have tried to sort through the problem on my own. I could have tried to guess which paths might lead me where I thought I wanted to go. But John’s experience and perspective shortened that difficult cycle, even as his insight was helping maximize my results. Trusted relationships make all the difference. Even if you’re watching for those opportunities to help others develop, and even if you can tell that these four indicators are present, those are only part of the equation. A lot of other pieces already need to be in place: How do you develop that trust in the first place? How do you make conversations a safe place where people can be open with you? How do you keep from judging people as they’re telling you their deeply personal struggles? How do you grow yourself into a consistent encourager? In short: how can we follow the example of Jesus in the way he cultivated trust with the people around him?

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UNDERSTANDING DOG LANGUAGE

Meeting other animals

Socialising a dog is an important activity which is done through playing with members of its own species and other animals. Its advisable to get your companion accustomed to being around his fellow creatures from a young age. He should be able to tell the difference between his friends and animals he doesn't know. A dog that plays with every dog he comes across is a poorly trained dog.

 

No more holes

Dogs naturally dig holes when they smell prey or want to bury a bone. In these cases, they will fill them in again themselves. However, if you notice that your companion wont stop this excessive digging, you need to find out more. Your pet is anxious and is calming himself down by expending energy. You need to get advice as quickly as possible to find out what's troubling him.

 

Stealing food

Dogs learn from a very young age that the food they are allowed to eat is found in their bowl. Pets that start stealing whatevers within reach are either hungry or have n self control. This behaviour is quite common among hyperactive dogs that find it impossible to reason and forget the basic rules when they're excited.

 

Fetch

Throwing toys for your dog and getting him to fetch them is not an innate behaviour. Most dogs, whatever their breed, will chase objects but they wont necessarily bring them back. It's worth teaching him to fetch from a young age. Use a lead and pull gently on it once your companion has retrieved the toy. Praise him when he brings it back to you.

 

Heel

Getting your dog to heel will require a lot of patience. Start by putting on him on the lead and letting him roam. Call him in a neutral tone. If he doesn't listen, pull gently on the lead to attract his attention. Praise him each time he comes back but above all don't tell him off if he doesn't come to you. Repeat the exercise as many times as necessary.

 

Playing tug

Its not advisable to play tug with a pet dog. This game consists of taking a toy, which your dog bites on to and pulling, whoevers strongest wins. This game may make your dog forget who's in charge, especially if he sometimes wins the game. Your companion may then think he can challenge you.

 

BUG OUT BAG LIST

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BUG OUT BAG LIST 

 

Some explanations are provided here for your information and understanding.  “Bugging Out” is the decision to temporarily (or permanently) say bye-bye and leave your home behind, to get to a safer destination in the event of a large-scale disaster.  When you bug out, you may or may not be able to leave with your vehicle. This is why most preppers suggest you have a bugout bag stocked and ready to walk to your safer destination if needs be. Some preppers are really prepared on this one. They know what their ‘safer destination’ is, and they have a plan and a route to get there on foot.
And guess what else? Some of them bury a separate bug out bag at intervals along their route to that ‘safer destination’. Why? Well, let’s say your safer destination is 5 days walk away from your home. 5 days’ worth of food, supplies and essentials can weigh a LOT. So preppers bury bugout bags at 2 to 3-days walking intervals. Look, I’m not suggesting you do that. If you do, that’s great. But at least have one bugout bag per family member, all ready to go, and stored as close as possible to your front or back door for immediate exit if needed. Here are the lists of items needed for a well-stocked bugout bag, sorted by supply type.

WATER AND HYDRATION

Most important, as the body can’t go over 72 hours without water, yet it can go up to 3 weeks without food. Have a 1 liter minimum, per day, per person. Highly recommended.
Here are the items that man sites recommend.

• Drinking Water (3 Liters) 
• Water Filters / Purification Systems  
• Water Purification Tablets (Qty 3)  
• Collapsible Water Bottle  
• Hard Water Bottle  
• Metal Water Bottle / Canteen
  

FOOD AND FOOD PREPARATION

Have a variety of off-the-shelf, dehydrated, store-bought items. Consider non-perishable food items, where some require water and some that don’t, as there’s no way to predict how scarce the water supply will be. Assume it will be scarcer than you think. Plan for enough food to last a minimum of three days. Also, take metal cooking utensils and cookware. They last longer and can’t get busted on while you’re bugging out.  

• P-38 Can Opener 
• Metal Cooking Pot  
• Metal Cup  
• Pot Scrubber  
• Portable Stove  
• Protein / Energy Bars (Qty 6 per person)  
• MREs / Dehydrated Meals (Qty 3 per person)  
• Spork (all-in-one spoon plus fork)  
• Stove Fuel (Qty 8 Tablets)
  

CLOTHING

Choose comfortable, warm, stretchy and breathable clothes.
Pack in layers. Consider time of year and climate. You need at least two changes of clothes per family member (and 4 for children). That way you’ll always have a dry set to wear and can avoid hypothermia.  

• Lightweight Long Sleeve Shirt 
• Convertible (Zip-Off) Pants  
• Underwear  
• Wool Hiking Socks (Qty 3 pair)  
• Medium Weight Fleece  
• Hat w/ Flex Brim  
• Working Gloves  
• Rain Poncho  
• Shemagh
  

OUTDOOR SHELTER AND BEDDING

Don’t skimp on these. Many come in lightweight formats and all of them will help you to be more comfortable in the elements. During an emergency that requires bugging out, you need a restful sleep more than any other time in your life.  

• Tarp 
• Tent  
• Sleeping Bag  
• Ground Pad  
• Wool Blanket
  

HEAT SOURCE

Staying warm when bugging out can keep you alive and keep you eating healthy foods. The survivalist mantra around items that provide heat, light and protection is this:
“Where there are two, there’s one. Where there’s one, there’s none.” This means you are a sure goner if you’re primary item fails and you have no backup. This is why many recommend 3 or even 4 of the following items in your bugout bag.  

• Ignition Source (Qty 3) 
• Tinder (Qty 3)  
• Waterproof Storage
  

FIRST AID

There are so many first aid kits out there, yet we know that some things in the kit always run out and others are underused. This is why you want to have some of the following additional first aid items ready.  

• First Aid Kit 
• Insect Repellant  
• Mylar Survival Blanket  
• Burn kit  
• Extra plastic and fabric bandages
  

HYGIENE

Never underestimate good hygiene. Don’t believe for a moment that you can run away from a pandemic, and that just because you bugged out, you’re safe. There are worse illnesses you can easily get from improper hand washing and poor hygiene. These can be the little things that make a big difference when you bug out.  

• Wet Napkins 
• Hand Sanitizer  
• All-Purpose Camp Soap  
• Hygiene/Signal Mirror  
• Small Pack Towel  
• Travel Toilet Paper (Qty 2)  
• Feminine Products  
• Face tissues
  

TOOLS

Stick to the basics in this area. Not everyone can or wants to carry guns and rifles, so choose to your preference. And have 2 or 3 backups.