Hi Shoppers,

As traders, we make educated predictions using the tools we have to forecast where the market is going and when.

As you know, my favorite tools are pitchforks, trendlines, and moving averages on the charts. I pair those with the Relative Strength Index and the Moving Average Convergence Divergence oscillators.

For my zero and one day to expiration trades, I also use momentum on the charts.

We don't expect to be correct 100 percent of the time. Never believe anyone who tells you they are. But if we are right and can make money most of the time, we are doing well and ahead of the game.

A good way to monitor your trades is to keep a trade journal.

It is useful to look back on what worked and what didn't, along with a lot of other useful information.

On my trade journal, I track the price I entered the option position, the price of the stock, and the implied volatility at the time I bought my options.

I always have a trade plan before I place my buy order.

That trade plan includes why I am entering the trade and my price target on both the stock and the options.

Every trade plan needs a stop loss. Where will I get out if the trade goes against me?

Over time, we will all have winning and losing streaks. By reviewing your trade journal, you may be able to answer those questions of what is working and what isn't.

The trade journal has the answers.

Thank You For Reading … See You Next Tuesday,

Licia Leslie