The end of last week was a disaster in which I yanked a stop and I suffered the well-known cascade of terrible events. I'm still reeling.
It is much better to take a stop than to suffer the worst. It is RARE that stops don't save me from disaster, so I need to set my ultimate stop and never touch it.
Something else to consider is on Thursdays and Fridays if I should trade same week or next week expirations. When I'm right it's so good, when I misbehave it's so bad.
I am considering paper trading today, but know I won't. I'm still wounded, even after the weekend. But with the lesson fresh, I will NOT yank stops.
FAST OPTIONS TRADING. Fast in/out. Apply trading rules like CLOCKWORK. Have a day. Sleep at night. This is my personal trading journal*.
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