Yesterday was a stinking weak day until the fed came out and lifted markets about 4%. Today, wiped out. Opening 2 hours were nothing but red. Really a blood bath. No bids.
I picked W today and went a bit too big on it (bc thin spready option... will I learn?) and hoped for a Thursday gem.
I got almost 20% in the opening push, then held. I wanted 30% out of this (greed!!), and the ask got there easily but no fills. Then I held with a bracket.
Pause to relate: I'm trying to see what bollinger bands and RSI can do for me. Can this help me stay in trades longer? What I think I've learned so far is that it's ok for it to test the opposite band and still be in "reasonable volatility" vs trend change. Will continue to test this.
Back to our story... I may have gotten lucky this time, but I took the attitude that "I hold for hope when the trade goes too far against me, why can't I hold for more when the trade is doing exactly what I think?" So I held and held (and went out to Costco), and held for what I had always believed was an ambitious but entirely reasonable stock price target.
B"H! I got it and had a great green day.
With that said, the "easy" money would have been otm puts on the indices at the open, but that's hindsight.
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