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I want to share with you the three common issues reasons or roadblocks that people have when it comes to trading investing, or it could apply to other aspects of life.
I'm doing this because a lot of people I'm noticing they struggle with trading options and as we get into our iron condor options course.
Take a look at yourself you'll probably figure out that you fall into one of these areas or you're lacking one of these areas and the biggest one is probably what you need to correct and fix and this is going to be all internal.
Three Key Problems:
- Brain/Knowledge Issue
- Strategy Issue
- Actions Issue
These are pretty much the main things that anybody will struggle with when it comes to becoming successful, doing things the right way. This is really where the problems lie. If you're looking to lose weight, you know you have to eat healthily and exercise.
The strategy is what people are always looking for. What's the best strategy? How do I save time? They're always looking for strategies of what to eat how to fine-tune those things.
But then most people lack the action. Doing those things consistently because if you eat healthily, you often exercise chances are you know you'll lose weight.
Going back to trading and investing in the stock market. Let's break this down.
Are your trading problems a knowledge Issue?
- Coaching discussions
How do you spot the knowledge issue?
In trading, let's say you knew every single thing in trading. In this circle represents everything in trading that the world has concerning knowledge. You don't have to know all of that to be successful.
You might have a penny stock trader who just hones in and knows penny stocks. He doesn't do fundamental analysis, but he's still successful because he knows that component of what he needs to do.
So, if you're struggling and you're having issues, you might only know this much, and you lack the other little piece to be successful. You need to go out and get that extra little bit of knowing whether it's through courses, books, groups coaching, watching other free training videos that we have available on the YouTube channel or website. Whatever it gets this extra knowledge so this is a brain or knowledge issue that you may have will be resolved.
Could it be a strategy problem?
- Figure out strategy
- What strategy works
The key issue is that you got to figure out a strategy but then what is it that's going to work for you. Figuring out the strategy that works for you is kind of the key you need to target specific things.
Some people they come up with different strategies. You might have two strategies. The first one might not work but the second one works. The first one doesn't work because it's not right for you but the second one works. But people aren't happy with it so they try to go back and find a new strategy rather than improving on that second strategy
Another issue or problem that people have is that they go to a whole different strategy rather than evolving that second strategy that's already working for them right
So if I'm trying to lose weight and I run because I know that running is working. Why would I stop running and all of a sudden start swimming and change it completely? What happens is, people are jumping big leaps all over the place to try and find new strategies.
In a way, you could say they're looking greener pastures, and they're doing big hops instead of micro hops. Do micro hops with strategies, and this will help you evolve those strategies to modify them, tweak them for you.
If you're trading, penny stocks and you have a fifty-five million dollar account. It might not work when you're trading non-liquid stocks because you have such a significant capital. So you're going to get stuck in a position. You need to find a different strategy that works for you.
You can resolve problems by taking the following actions
- Habits - Discipline
- Repeat - Consistency
- Sticking to it - Longevity
When you change up your strategy time and time again, that's really where the problems lie. Sometimes people can't stick with something long enough. That could be an issue, they might try something for a week, but that's not long enough to test out a strategy. They might test something out for two months. Again this might be good, but then they drop out, and they aren't able to stick with it so
All of these things loop together when you look at them your brain. Your knowledge power, your strategy, and your actions, they all work together. And this is really where people have issues.
Stock trading, options trading, iron condors, calendars, doesn't matter what you're doing. The same thing is correct if you lack the brain power the courses, the books, and the coaching sessions.
You don't need everything; you need that fraction okay to be able to get you to the next step.
You got to come up with a strategy. Make sure that the strategy works for you. Most people are always trying to figure out other people's strategy. It's not about other people's strategy, it's about your strategy what works for you and then breaking that out for what's working and accelerating it.
And then doing the actions consistency and following your strategy. Sometimes, even if you're consistent but then all hell breaks loose. Then, something's going wrong, and you're not developing your plan. It would create other problems and issues
These are the three main things. I want you to look at those on yourself personally and evaluate yourself. What is it that you're doing right? Are you consistent? Are you following your plan? If you don't have an idea, figure out a strategy. Is your strategy correct? Is it working for you? If not, you need to figure out the strategy. You might need to go back and get some more knowledge courses, books, group coaching, or coaching in general one-on-one. Take a look at some of the material we have that are very in-depth, and it'll help you accelerate there, but it all starts with the knowledge.