A little inspiration for Grasshoppers

Learn to learn

Like learning anything else, learning options is a process. The first step is making the decision that you want to venture down this road. It takes time, commitment and an understanding that you will run into setbacks, both monetarily and mentally. You learn a lot about yourself, every step of the way; how you respond to a loss or a gain.

Without getting too psychoanalytic, I’ll simply say that you will question if you can even learn to trade options, then you’ll question if this game is for you once you hit your first set back. I’m here to tell you that you can.

I never thought I would be able to learn options. The Coach would talk to me for an hour about basic terminology, hoping to spark an interest, and I would just stare at him with glazed eyes. Then Bob, my brother-in-law, would chime in with his graphs and technical analysis and I would be completely lost. So, the first question to ask yourself, is what type of learner are you…how do you comprehend brand new material?

One on one lessons aren’t for me. I don’t like study groups. I’m a late night or early morning, by myself studier. I’m a highlighter and a note taker. But everyone’s different. Don’t get discouraged if you keep falling asleep in your Trading Textbooks; there are many ways to absorb information.
My senior year of college, two classes I needed to graduate had conflicting schedules. I told my professor that I would only be able to attend her class once a week. Initially, she told me to take the class next semester, but I would be in the fire academy. She agreed to let me take the class only once a week, as long as I maintained an A, which I did.
I guess my point is that there are more ways to educate yourself than sitting in a classroom. Just because your learning style is unorthodox, doesn’t mean you can’t be successful and achieve your goal. My life has been far from “cookie cutter”. Just keep setting goals and work on achieving them.

Vincent Van Gogh said, “If you hear a voice within you say you cannot paint, then by all means paint and that voice will be silenced.” Self-doubt is normal. Overcome it.

The four types of learners are Visual (looking at charts and graphs), Auditory (listening to or reciting information), Reading/Writing (reading books and taking notes), and Kinesthetic (hands on).
You can read all the books you want on karate, that doesn’t mean you can enter a fighting competition. You’ll soon realize that a punch in the face is much different than a paper cut.
The information might not be sinking in by just reading a website or a book. Maybe Youtube videos would be a better tool. I watched many videos of Options for beginners, where the instructor had Powerpoint presentations and a dry erase board. I also feel that learning is 50% theory and 50% practice. So once you’ve read through all sections of Main Street beats Wall Street, I would encourage you to open up a paper trading account. Some popular platforms are E*Trade, Charles Schwabb and Think or Swim. I actually opened a paper trading account with all three. One might be more comprehensive to you or easier to navigate.

 

The Grasshopper

 

Next: The importance of paper trading
To be continued…