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There are, of course, a lot of traders available on the market who are using much cleverer strategies than "Buy and Pray". Frequently use charts and technical analysis and work their trades on moving averages, Fibonacci lines, Bollinger bands and such. They might go short occasionally to profit from an expected downward move, but the "gambling" element is still there - select which direction the stock most probably will move in, and have a position on that trigger.
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When you're to access this industry, you ought of do it whole heartedly. In which especially true if are usually a day trader. Cannot have any mood swings when you're into stock options trading. You cannot just are reinforced by the "feel" to do it today and then forget with regards to it the overnight. Without devotion and dedication, you can end plan pretty big loses may truly hurt your financial health.
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