Today’s video continues the introduction to risk management, especially as it is applies to trading iron condors. As you have no doubt noticed by now, I believe in detailed discussions.
My primary job is to be certain that everyone who wants to come along on this ride learns at least enough about trading and risk management to give that person a good chance to succeed. The bottom line remains unchanged. Most people who try to earn good money from trading fail. Trading is not as simple of a task as many believe it is.
It requires no skill to buy index funds and put them away forever (buy and hold) with the hope that the markets will cooperate and provide you with enough money to meet your future needs. It’s another to actively make trade decisions, including how to manage risk and minimize losses. This is not a simple task.
That’s the reason I place so much emphasis on the details. If you make the attempt to earn money as a trader, I believe that the better you understand what you are doing and the decisions that must be made – then the better your chances of making good trade decisions. It is obviously my belief that good decisions are necessary for success.
These videos move slowly, but my goal is not to complete a course in a few days and send you out to trade. It’s to do the best I can to give you a better chance to make it as a trader. If you understand the basics, then you will be prepared to tackle more advanced trading techniques and theories.
These videos are targeted to traders who believe they still have much to learn. That should include almost everyone. Yet, these are definitely at the elementary level. If that sounds right to you, then welcome aboard.
Introduction to risk management. Part 2