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Trade management is one of the most difficult things to learn as an options trader, as there are virtually unlimited ways to manage an option position.
In this video, I try to simplify the madness by explaining 5 trade management techniques that options traders can use to determine when a trade should be closed or adjusted.
The 5 Trade Management Techniques:
1) Setting a Profit Target
2) Setting a Loss Limit / Stop-Loss
3) Using Option Delta or Position Delta
4) Using Option Theta to Determine Trade Exits
5) Using Time-Based Exits to Protect Against P/L Volatility
You can use one or all of these trade management techniques together.
By implementing some of these simple management triggers into your trading plan, you will become much more systematic, which can improve consistency and reduce anxiety/stress.
Be sure to leave a comment down below with any questions you may have!
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