I hesitated to trade today after Friday's freakout, but it's almost irresistible. So, how do I make sure I don't shoot myself in the foot again? I take away half my money. I moved 60% of my trading cash into my reserve account so I won't trade too big and won't overtrade. In other words, reminding myself to trade small, take profits, take stops. Without the drama. Trade clockwork.
I was doing well. Good picks, good management, and I was already in MRNA when it went nuuuutts! Some of my partials were well over 200%. I used the last of my money to buy further otm (this week 80 calls, currently trading 72) calls so I could scale/shave better, and I hope to hold a part of that overnight. Today was an igniting day.
With that said, the market looks "too close to the sun." QQQ touching underside of steepest trendline. SPY pushing ath. Just after 2:00, each doing a cascade selloff. 2/3 of my MRNA 80 calls stopped. I'm keeping 1. I also added for just pennies, 2 100 calls. The nice thing about trading on a Monday is I can try to take lottos like that.
But, it's also a lesson that even in something that seems to be going straight to the moon, need to still set stops. I've been shaving/adding into MRNA strength all day. No regrets for not trying to hold onto a rocket because I'm not willing to get burned. Say it again! not willing to get burned.
And that's why I don't regret moving money into reserves. I'll probably move some of today's massive gain into reserves again tonight. I need to reestablish trust in myself.
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