The 3Dimensional Trading Breakthrough

Brian Schad
Don’t ever be “wishy-washy” in this business!). I am writing this because I always
get many questions about what to do with the options once the trade goes my
way. This is the answer. Just determine your risk and listen to your conscience
(according to your experience level). I hope not to sound wishy-washy!
From this point, it is a matter of managing the position on a daily basis. All actions
of the market each day depend on the “trigger-pulling” factors determined from
the day-session open. The market is either going up, or going down. There is no
in-between until you look at the market in hindsight. The trigger-pulling factors
will inform you when this takes place...!
Account Size
Of course, the ultimate goal all of us traders should have is to trade for a living.
Now let’s be realistic here when we talk about “trading for a living.” The people
that you see or admire that are trading for a living – most have large sized accounts.
If you want to stop your day time job and trade for a living, let me assure you that
you need to have at least a minimum of $50,000. If you are a retired person, and
drawing some kind of pension, or retirement pay, and you have benefits to cover
you…and you have got the security behind you…maybe you can lower that down
to about $25,000 to $35,000. But being realistic, you need to have at least $50,000
– and $100,000 to $150,000 would be more preferable.
Now, I don’t know about you, but if I only have a $25,000 trading account and
I am a young guy with a wife, children, mortgage to pay, car payments, and
responsibilities…trading for me needs to be a secondary source of income. I have
to be assured I am going to make the mortgage. I need to be assured that there is
going to be food on the table, and that our cars are not going to be repossessed,
etc. – for crying out loud. Do not put yourself in a position to make a living off of
your life savings. I want to get that straight with you right now. I wouldn’t ever
want to put myself in that position, but if I had a primary job from which I generate
risk-free money, I am free and clear to do what I want with the markets the way
I know best. This prevents me from putting myself into a position where I am
forced to have to make trades…and start making the wrong trades. So, if you want
to trade for a living, just make sure you have the proper financial backing and a
steadfast trading plan. Then knock ‘em dead.
Best wishes for GREAT TRADING!
– Brian Schad, Idaho
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