New Option TraderLearning how to be a successful option trader and blogging about it

Assumes I have a stock in mind and am thinking of placing a trade…

1. Determine the overall trend of the market
2. Is the trend of the stock the same as the overall market?
3. Check the VIX
4. Check greeks
5. Technical signals:
   - Candle signal
   - Slow stochastic
   - Moving averages
6. Determine support and resistance
7. Determine best strategy for the trade
8. Determine entry point
9. Determine exit conditions
10. Calculate risk/reward, max risk, and max profit
11. Take half of position profits at 100% or more.  Ride other half position until it gives back half its gains, or if it doubles again