What plays a bigger role in the trading industry, luck or skill? This is a common debate between traders. Even Though luck does play a role especially in the short run, in the long run your ability to analyse past and future trades will matter more for an increased chance of success. Usman Ashraf, a 31-year-old options trader, aims to help people who are curious and passionate about options trading. According to him, here are some of his tips that can make you a successful trader:
- Never overestimate the power of luck
Usman Ashraf states “Trading isn’t as easy or simple as it may seem”. Some people tend to leave the results to the game of luck when in reality, it requires a lot more work and discipline. Before making a decision, you need to review older trades to see where you went wrong and avoid repeating the same mistakes that lead you to a loss.
- Overcome any struggles by visiting OptionHub
If you are not sure how to analyse your previous trades and are struggling with anything, you can always take help from OptionHub, an online business platform developed by Usman Ashraf to assist beginner as well as advanced traders. Here you will be provided with close mentorship, extensive knowledge, and guidance at every step of the way while making live trades. An online chat is also available 24/7 for any questions and concerns that you might have. OptionHub will review your mistakes for you to strategize a daily trading plan for the upcoming week.
- Always stay informed
No matter what, it is important to stay educated and aware of what you did wrong and what needs improvement. There’s only one way to stay informed and that is by reading. Ashraf shares “Devotion, time, studying, and reading goes into being where I am today.” There is no doubt that all these things are just as important for you if you want to succeed. You should develop the habit of reading a lot of articles and blogs to stay up to date with the options market.
Usman Ashraf is deeply invested in helping his students and teaching them all the tips and tricks they need. He wants them to acknowledge that every small gain is a success and every loss feels like a failure at that moment so always push yourself to get up even after bad days.