Good morning, friends…
I’ve watched traders quit, sometimes just days before everything starts to click.
And it’s not because they lack skill. Most of the time, they’re closer than they realize. One small shift often can turn things around fast.
Usually, the problem comes down to a few common blind spots.
Not the big, obvious issues. These are small habits or patterns that sneak in quietly and mess with your results. You don’t see them until they’ve already cost you a few good trades.
The truth is, most traders aren’t far off. The setups are there. The tools are in place. But one overlooked detail keeps showing up and getting in the way.
Today’s about fixing that. Identifying your blind spot. And eliminating it before it does more damage.
Here are six of the most common blind spots for options traders (and how to overcome them)…
Perfectionism
Perfectionism is the arch-nemesis of excellent trading.
You don’t get an award for getting the perfect trade. If I get the absolutely ideal exit on a position, nobody shows up at my house with a blue ribbon and says, “Ben, you nailed the top on PLTR … to the cent!”
It just doesn’t happen like that…
I’ve learned to forget about perfectionism. Exiting a trade, say, 2% below the ultimate top will give me almost as much money as the top itself would (without breaking my rules).
On the other hand, if you strive for perfection, you’ll never find it. You’ll be disappointed because your goal was unrealistic, which brings me to our next blind spot…
Unrealistic Expectations
Many options traders enter the market with dreams of getting rich quickly, which can lead to taking unnecessary risks.
You might overtrade or enter larger position sizes than you should in pursuit of “easy money.”
These unrealistic expectations often result in recklessness, leading to significant losses. Trading is a skill that requires patience and perseverance to achieve consistent profitability.
Trade like a surfer. Wait for the wave to come to you.
Poor Risk Management
Even with a sound strategy, a lack of risk management can turn potentially winning trades into devastating losses.
Risking too much capital on a single trade or failing to use stop losses can expose you to excessive downside risk.
When you don’t have a plan to protect your capital, a sudden market move in the wrong direction could wipe out weeks or months of gains in just one trade.
Implementing strict risk management rules — such as setting proper stop losses and never risking more than you’re willing to lose — is essential to preserving your account.
Failure to Adapt
Markets are always changing … what works in one environment may not work in another.
Sticking to a strategy that thrived in a bull market may not be effective during periods of volatility, consolidation, or a bear market.
Just look at how many long-biased traders got destroyed in early April (and how many bears are getting wrecked in May).
But still, some traders are stubborn. They only want to use the strategy that made them money “that one time,” as opposed to the one that could work now.
If you fail to adapt to these shifts, you’ll end up leaning into unprofitable strategies.
Being aware of the broader market structure (and adapting your approach accordingly) is crucial for long-term success.
Emotional Decision-Making
The emotional rollercoaster of trading can lead to rash decisions that harm your profitability.
Fear may cause you to hold onto losing positions longer than you should, hoping for a turnaround, while greed may lead you to sell winning positions too early, missing out on potential gains.
Managing these emotions and sticking to your rules (regardless of how you feel in the moment) is crucial for executing trades effectively.
Embrace discipline, reject emotion.
Confirmation Bias
Confirmation bias can blind you to the potential risks and prevent you from making objective decisions.
Once you’re committed to a trade, you might unconsciously seek out information that supports your position while ignoring any evidence to the contrary.
When you only see what you want to see, you’re less likely to cut your losses or adjust your position when the market turns against you.
Being aware of this bias can help you maintain a more balanced perspective (and make objectively better trading decisions).
Actively seek out opposing viewpoints. Try to honestly poke holes in your own trade thesis. If you can’t find any yourself, you’re probably onto something.
If any of these blind spots sound familiar to you … it’s time to take a step back, evaluate your performance, and eliminate it once and for all.
Happy trading,
Ben Sturgill
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