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Be adaptable and willing to adjust your strategy based on market feedback from "summary" of How I Made BIG Money Trading Stock Options by Carl Schoner
It is crucial to be flexible and open to modifying your approach in response to feedback from the market. This means that you should not be rigid in your thinking or unwilling to make changes to your strategy. Instead, you should be willing to adapt and adjust based on the information you receive from the market. Market feedback can come in many forms, such as changes in stock prices, shifts in market trends, or news and events that impact the market. By paying attention to these signals and being willing to adjust your strategy accordingly, you can increase your chances of success in trading stock options. Being adaptable also means being able to think on your feet and make quick decisions when necessary. You should be prepared to pivot or change course if the market conditions suddenly shift or if new information comes to light that affects your trading strategy. By staying flexible and responsive to market feedback, you can better position yourself to capitalize on opportunities and minimize risks. This requires a willingness to learn from your experiences and make adjustments as needed, rather than stubbornly sticking to a fixed plan that may no longer be effective.- Being adaptable and willing to adjust your strategy based on market feedback is a key component of successful trading. By remaining open-minded and responsive to changing market conditions, you can improve your chances of achieving big returns in the stock options market.
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