{"id":10764,"date":"2011-04-06T16:01:00","date_gmt":"2011-04-06T20:01:00","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=10764"},"modified":"2023-08-03T23:17:09","modified_gmt":"2023-08-04T03:17:09","slug":"can-i-trade-options-while-holding-down-a-busy-full-time-job-how-about-while-im-asleep","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/can-i-trade-options-while-holding-down-a-busy-full-time-job-how-about-while-im-asleep","title":{"rendered":"Can I Trade Options While Holding Down a Busy Full-Time Job? How About While I’m Asleep?"},"content":{"rendered":"

While there are common themes to every kind of trading discipline, there are of courses differences as well.\u00a0Options spread trading, for example is a very different world in many respects from day trading. At SMB, our intraday equity traders tend to focus on the opening hour and the closing hour of trading, with sometimes very high speed activity and decision-making occurring during those peak trading hours. It takes a great deal of purposeful practice and ex-perience to be able to make such fast decisions and execute those decisions rapidly, during, for instance, the opening drive of a stock in play.<\/p>\n

Options spread trading<\/a> actually revolves around the basic principal that short options benefit from time decay, which translated into English means that, slowly over the course of an options trade, formerly mediocre trades “bloom” and become very profitable. And in turn, just like a flower that you pull out of the ground before it has had a chance to bloom, if, in an attempt to cut\u00a0 risk too frequently, options traders keep fooling around with their positions–taking multiple realized losses to control risk, each time covering the very short options that constitute the core of the profit potential of the trade–traders inadvertently “butcher” the trade to the point where there is almost no profit potential left.<\/p>\n

This tendency to “overadjust” an options trade, is one of the many early pitfalls into which developing options traders can fall. It usually happens because an options trainee is watching every tick of the market during the trading day, and as a result, micromanages his options trades to deal with intraday moves that are so often reversed during the trading day and were ultimately irrelevant to the original position.<\/p>\n

Here are my two favorite solutions to the tendency to chop up your trades with emotional adjustments that you almost always regret later: take a full time job, or just move to Australia and sleep while the market is open in the U.S.<\/strong><\/p>\n

You probably think I’m kidding……..<\/p>\n

Some of my best options mentoring students over the years have been people with demanding full-time jobs, who simply can’t watch every tick of the market due to the demands of their jobs. Rather, they put contingent orders in at the adjustment points of all of their trades (a skill pretty easily learned, but a skill nonetheless) so that if the market makes a big move, the necessary adjusting trades will be fired off automatically by their online broker.<\/p>\n

In fact one of my finest students was a guy from Australia, who was literally asleep<\/strong> during almost the entire options market trading day in the U.S! Stuart was bright and diligent and had thought through the various market scenarios likely to occur on any trading day. He’d put his contingent orders in, reflective of the needs of his trades in those various market scenarios and then shut his computer off and went to sleep.<\/p>\n

Whether you are holding down a demanding full time job, or have to sleep during options market hours, you have one big advantage over the traders watching every tick of every trading day–you won’t make emotional decisions based on short term moves that ultimately get erased by the ebbs and flows of the trading day. As a result your options trades<\/a> have a chance to bloom. So learn a lesson from those who do not have the opportunity to watch the market every second–don’t micromanage your options income trades and you’ll be more successful.<\/p>\n

Seth Freudberg<\/a><\/p>\n

Director, SMB Options Training Program<\/p>\n

The SMB Options Training Program<\/a> is a twelve-month program designed for novice and intermediate level options traders who are seeking an intensive training process to learn how to trade options spreads for monthly income. For more information on this program contact Seth Freudberg: sfreudberg@smbcap.com<\/a>.<\/em><\/p>\n

 <\/p>\n

Risk Disclaimer<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

While there are common themes to every kind of trading discipline, there are of courses differences as well.\u00a0Options spread trading, for example is a very different world in many respects from day trading. At SMB, our intraday equity traders tend to focus on the opening hour and the closing hour of trading, with sometimes very high speed activity and decision-making … Read More<\/a><\/p>\n","protected":false},"author":741,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,1402,1584,455],"tags":[1629,4694,1705,1376],"class_list":["post-10764","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-options-education","category-seth-freudbergs-blogs","category-trading_psychology","tag-income-options-strategies","tag-options-income-strategies","tag-options-spread-trading","tag-p","no-post-thumbnail"],"yoast_head":"\nCan I Trade Options While Holding Down a Busy Full-Time Job? 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