Episode #58 Options Trading Expert Shares the Roadmap to Options Trading Every Business Owner Needs to Follow to Succeed - Yeukai Business Show




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Summary: <br> Options Trading Expert Shares the Roadmap to Options Trading  Every Business Owner Needs to Follow to Succeed<br> Do you find Options Trading too complicated? Don’t know how to get started? In this podcast, Trading expert, Kirk Du Plessis reveals what startup trading tricks and must-haves in order to succeed once they get started with trading off. <br> Key Questions Asked:<br> <br> Does he teach people about Options Trading?<br> How does Kirk make money with Options Trading?<br> What are the roadblocks that he encountered when he was starting out?<br> From a business perspective, what can he suggest for anyone who is getting started with business right now?<br> Why do options trading?<br> What are the steps every business owner needs to take with Options Trading?<br> What areas would you ask to focus, for people not into Options Trading yet?<br> <br> Highlights of the Lessons Learned:<br> <br> In order to address the traders’ needs, behavioral factors should be considered in options trading like:<br> <br> What time do these people do trading?<br> How much time do they need to dedicate for it every day?<br> How are they doing it?<br> <br> <br> <br> Note: When traders’ challenges are not resolved, trading options business will not succeed.<br>  <br> Advantages of Options Trading:<br> <br> As per Kirk, when you look at Options Trading, you look at a system’s probability, math, principles, and its statistics behind.<br> Meaning, you can have wise decisions (an intelligent guess) which actually could be based on the math itself.<br> With that, you could have 70% to 80% winning in the trade.<br> Based on data analysis, you could build a system in consecutive trades or in a course of the year – that you will know it has 80% or more winning potential.<br> Options trading gives you the ability to allocate a little bit of money towards strategy. Can work for small to huge investment – depending on preference.<br> The high success rate in options trading can be best achieved in creating a strategy wherein you have at least 70% of winning.<br> <br>  <br> How to Promote Awareness to Non-traders:<br>  <br> <br> Show them the numbers;<br> Cite a Billion-Dollar maker;<br> Help their manners;<br> Show them how high the probability of trading works;<br> Comprehensive  training of the trading process;<br> Maintain transparency of the trading day-by-day.<br> <br> How Business Owners Can Develop Expertise or Start with Options Trading:<br> <br> <br> <br> Every business owner needs to learn a covered call strategy – as the very basic and conservative ways in options trading.<br> They need to actively trade in the market consistently.<br> Consciously scaling up and wrapping up the activity that works.<br> Once figured out what best works, they need to keep on doing the same thing.<br> <br> <br> <br>  <br> Biggest Mistake of Business Owners in Options Trading:<br>  <br> <br> It is when they over-allocate their positions on trading.<br> 50-50 does not cover the risks involved in rolling the business.<br> <br> How to Avoid the Mistakes in Options Trading<br> <br> Spread the risks across – do not ever over-allocate your investments.<br> Have the perfect mindset – realize that you have no control and you don’t know everything. <br> <br>  <br> Insights On Overcoming Roadblocks<br>  <br> <br> Direct assumptions caused Kirk to face roadblocks in starting out his options trading – which misled his business in getting the right clients, and hampering the potential growth instead. Different assumptions include:<br> <br> Direct assumption that people wanted to learn things that he wanted to learn;<br> Not ascertaining what these traders are really looking for in the market;<br> Not understanding what the consumer or traders need in the products and services the bu...