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Options Made Easy: Your Guide to Profitable Trading, Second Edition by Guy Cohen

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Tips and Good Habits

Get yourself into a relaxed, confident, and controlled state of mind before you make any kind of trade or even analysis.We’ll cover more on this under the heading “Your Optimal Mindset” later in this chapter.
 A well-known statistic makes the claim that 80% of trading success is down to psychology, and 20% down to technical ability. I don’t know how they calculated that, but the point is well made. Whatever your technical capabilities or knowledge, your state of mind is absolutely vital to the success of your business, and you must be in a good frame of mind to do yourself justice.
Create your Trading or Investment Plan and write it down in specific and precise language before you trade.Don’t confuse trading rules with a black-box ...

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