Each time I go to my yoga class the instructor has a word of the day, and I wanted to apply that to options education. The word of the day is intention. The dictionary defines “intention” as an aim, a plan or a purpose. While naturally many people would think, well my intention is to make money. I think through lack of planning many people lose sight of their trading intention. Let’s take a look at what should go into our trading intention. Trading Goals Besides learning different strategies to utilize, the first thing we need to do is determine a long-term trading goal. Where do we want our trading success to take us, is our goal to have a monthly income stream? Or a nest egg to retire with? Of course these goals could be simultaneous. Whichever goal you choose it’s important to keep a record of your trading results and where you are at on your path to your intention. Trading records should be looked at daily, monthly, quarterly and yearly to give us an overall view of whether or not our current plan is working. This will give us a chance to make adjustments in our trading […]