In every type of trading, we always chase after a large of money and avoid losses, as well as possible. Fortunes are not made overnight and it requires hard work and discipline. To being a successful trader we have to develop a trading system and stick with it always. So, there is nothing impossible to become a millionaire in option trading. The essential key here, when you find a reliable system that can make you rich undoubtedly because you have tested it with twists, you should invest a bigger money to scale it up.
Alright, now we are ready to start talking what you need to achieve for being a millionaire. It's about time, I suppose you would be saying that. Everything needs time in order to proceed, but it all depends on you whether you can consistently learn and proceed, or maybe you are just not capable enough in this industry?
Okay, first things first. Have you ever heard about The Secret? It's a really good book that teachung you how to achieve what you want by visualizing it. So, let's take an example, suppose you want to have a car, so just pretend you are driving that car on your couch regularly. As a result, you are attracting energy of the nature to help you buy the car. Technically speaking, it's closely related to dream. How we can apply it in Option trading? Well, as a trader you have to set your goal why you are into this. Try to visualize what you want to become after having profits from Option trading, that could be your dream car, luxurious yacht, house that boasts swimming pool, and beyond.
Furthermore, you need a strong motivation to become a millionaire. Without motivation you cannot become a millionaire, but having a chance to win a lottery. Motivation is a machine to keep you working, and the fuel is your dream.
The next step is identify yourself using a method, that is what so-called SWOT (Strengths, Weaknesses, Opportunities, Threats). Generally, it's a general method to plan a business, but can also be applied in a person. Using this method, set a route to be what you want. The routes, we are going to discuss today are a short income and long term income.
1. The Short Term
In the short term, usually you are allocating money to invest in a high performing sector, such as Mining and Technology in an expectation that will give you ROI (Return of Investment) without waiting too long.
For example: You are buying 100 shares of Google (GOOG) each $500 ($50.000) to trade in Option. You decided to buy GOOG because you want to bank up $500.000 after discovering ROI of this giant tech company is relatively 10% a month.
2. The Long Term
Investing money in the long term, means you are holding a financial instrument for its increasing value for a very long time. Always remember that could be at least 10 years, and remember to hold stock that you feel comfortable only. You can learn this from a well-known long term investor, which is one of the richest persons in this planet, Warren Buffet.
By far, I believe after reading this article, you have already started a goal to become a millionaire Option trading. It is not impossible, but more than possible to achieve it. Keep yourself always motivated to make your dream come true.
Sunday, November 15, 2015
How to Be Millionaire in Option Trading
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