Happy Halloween, traders!
Ben here.
Today, I’m gonna let you in on a little secret…
The single most valuable asset a trader can possess is not a well-timed tip, a specific strategy, or a fancy business degree…
No, the most important word in trading is “humility.”
Over years of trading, I’ve come to realize that humility is not just a virtue — it’s an essential personality trait for long-term success in the options market.
But it’s not easy to stay humble as a trader, especially if you’re consistently winning.
I’ll be honest … I’ve been nailing some extremely profitable trades recently.
After big wins, I’m constantly reminding myself that I’m not a genius, I’m not God — I’m just a trader who has strung some good plays together.
You should do the same.
If you’re not careful, overconfidence can creep into your trading psychology and potentially ruin your mindset…
To avoid this, “Humility” is your secret weapon.
Here’s why…
Why Humility Matters
Near the beginning of October, I had an incredible run of trades that could tempt anyone to think they’re unstoppable:
100% on NVDA*
102% on NVDA*
100% on NVDA*
200% on UBER*
155% on AAPL*
100% on GLW*
178% on GLD*
That’s 7 100%+ winners in a row…
Plus, my total October track record wasn’t too shabby either:
28 trades
23 Wins*
5 Losses
Win Rate = 82.1%*
Average Trade Result = 54.8%*
Average Gain of Winning Trades = 74.5%*
I think it’s fair to say that my results have been excellent recently.
And this is where a lot of traders will get overconfident. They may increase their position sizes or overtrade too many contracts at once.
But I know that getting too cocky can lead to disaster. If I think I can’t lose, my hot streak could quickly turn into a dry spell
This is especially true in the options market, where weekly contracts can lose 30%-50% of their value in minutes.
That’s why I always try to remind myself to stay humble, even when I’m on a red-hot run of huge wins.
The truth is that those wins aren’t solely due to my trading chops. Skill and edge are crucial in the market, but luck also plays a big role.
And ultimately, it’s about the tools you use.
If it wasn’t for my Spyder Scanner, I wouldn’t have discovered any of these trades.
But even with the right tools, you need to have the right mindset — one that allows you to avoid the feeling of invincibility.
Here are three reasons why you’ve gotta stay humble in the options market…
Accepting Uncertainty
Trading with humility allows us to accept the inherent uncertainty of the market.
The stock market is unpredictable. You never know what’s gonna happen in a trade.
No matter how much research you do or how confident you are in your predictions, you can always be surprised.
And if you’re overconfident or incorrectly positioned, these surprises could ruin you.
But if you stay humble — knowing that you’re at the mercy of the market’s fluctuations — you’ll be better prepared to act quickly when your trade makes an unexpected move.
Learning from Losses
Humility also teaches us to view losses not as failures, but as opportunities to improve.
You will face losses in your trading — it’s an unavoidable part of the game. The important part is how you react to those losses.
If you approach bad trades with humility — analyzing your losses, understanding what went wrong, and adjusting your strategies accordingly — you can turn those losses into priceless lessons.
But if you think you’re invincible — blaming market sentiment, algorithms, and other traders when you lose money — your losses will be pure pain (with no benefit).
Risk Management
Another critical aspect of humility in options trading is risk management.
Overconfidence can lead to taking unnecessary risks, like putting a huge % of your account into a single trade (or ignoring stop-losses).
By all means, pat yourself on the back when you make a good trade…
But don’t continually bask in the glory of your wins, thinking you’re an unstoppable genius.
Stick to your risk management plan no matter what.
If you stay humble you’re far more likely to take a cautious approach … a winning approach.
Emphasize the importance of preserving capital. Live to trade another day.
Before we go, let’s take a look at…
💰The Biggest Smart-Money Bets of the Day💰
- $3.6 million bullish bet on ALAB 11/15/2024 $80 calls @ $3.60 avg (seen on 10/30)
- $3.6 million bearish bet on AMD 12/20/2024 $135 puts @ $3.68 (seen on 10/30)
- $3.2 million bullish bet on MRNA 12/20/2024 $55 calls @ $6.50 (seen on 10/30)
Stay humble,
Ben Sturgill
P.S. As we speak, I’m preparing for what could be the biggest trading opportunity so far this year — earnings season.
Believe it or not, you can often see whether a company will beat or miss before the market catches on.
That’s exactly why I developed Earnings Edge, a specialized system designed to take full advantage of these massive trading opportunities.
For example: Earnings Edge projected a 95.9% earnings beat probability on Taiwan Semiconductor Inc. (NASDAQ: TSM) … the day before its 10/25/2024 $195 call options exploded by 208%!*
TODAY, October 31 at 4 p.m. EST, my buddy Danny Phee is hosting a LIVE Earnings Edge Workshop to break down how you can weaponize this strategy during earnings season.
Seats are filling up quickly — Click here to lock in your spot before it’s too late!
*Past performance does not indicate future results
