What You Should Do If You Are An Option Buyer

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Here are a few tips for option buyers especially if they are beginners:

1. Do not buy deep Out of The Money (OTM) options. They almost always expire worthless.

2. Do not buy deep In The Money (ITM) options. They behave like futures. Losses will be more than the profits. If you are a deep In The Money (ITM) option buyer – trade futures instead.

3. Keep the target and stop loss in the system as soon as you buy the option. With a system target and stop loss, you need not monitor the trade once it’s live – the system will take care of that. If the target is hit, the stop loss order will automatically get cancelled. If the stop loss order is hit, the target order will automatically get cancelled. This type of order is called the GTT (OCO) order.

The full form of the GTT (OCO) order is Good Till Triggered (One Cancels the Other). If your broker doesn’t allow this feature, you can open an account here. This broker allows this kind of order for free. Plus, the account opening is online and free. Stock buying and selling are also free. Click here to open an account with them.

4. If you are not experienced do not start trading with multiple lots. Practise with one lot initially then if you are getting profits increase the lots one by one – slowly. Increase one lot every month but do it up to five lots max.

5. Make an Excel sheet and record all the trades.

6. If you are making losses for more than 3 months consecutively then stop buying options. Then practise selling options with hedge. If you want to learn option strategies with hedge you can do my course.

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INCOME DISCLAIMER: Any references in this site of income made by the traders are given to me by them either through Email or WhatsApp as a Thank You message. However, every trade depends on the trader and his level of risk-taking capability, knowledge and experience. Moreover, stock market investments and trading are subject to market risks. Therefore there is no guarantee that everyone will achieve the same or similar results. My aim is to make you a better & disciplined trader with the stock trading and investing education and strategies you get from this website.

DISCLAIMER: I am NOT an Investment Adviser (IA). I am an Authorized Person (AP) of a Stock Broker. I do not give tips or advisory services by SMS, Email, WhatsApp or any other forms of social media. I strictly adhere to the laws of my country. I only offer education for free on finance, risk management & investments in stock markets through the articles on this website. You must consult an authorized Investment Adviser (IA) or do thorough research before investing in any stock or derivative using any strategy given on this website. I am not responsible for any investment decision you take after reading an article on this website. Click here to read the disclaimer in full.

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Open ZERO Brokerage FREE Share Trading Account - Buy and Sell Stocks Without Brokerage - Set GTT (Good Till Triggered) Orders on System and Forget

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