I had a few-day losing streak. I should blog the losers of course, but I'll teach the lesson instead.
Greed leads to losses. Greed makes me wish for more, when I should take it. Greed makes me give stops too wide and lose too much on losers. Greed is for losers.
It started with NFLX on 1/14, which dropped a few dollars before I could even get a stop under it. Instead of just taking the 40% loss, I stopped only half and tried to hold the rest. Over several days, I passed on the opportunity to take "only" 40% loss again. Until today, I had to really eat it for a 90% loss. Why not just take my chances on the last 10% and see if maybe something works out. THAT IS THE BAD ATTITUDE THAT STARTED THIS MESS. It is toxic to shift to a "luck mentality."
How will I turn this around?
I must not trade tomorrow.
Monday market is closed.
Tuesday assess my mindset.
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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