quit? keep trading? launch another business? yesterday, I bought 100 lot 67.5 SINA call at 0.01 (out at 2.6), and 100 lot 65 sina call at 0.05+(out at 5.3),I found I made more than 100 fold gain. my wife was so surprised, and asked me: if I keep making money lilke this, pretty quickly I will make enough money for my whole rest of life including my whole family, if this happens, what elese I want to do? first I vaguely said I will continue trading, and I want to launch another business. last night I am so excited, and did not get good sleep, think about "if I make far more than my lifetime needs, then..." any comment
Pride goeth before a fall. Prov. If you are too proud and overconfident, you will make mistakes leading to your defeat.
Listen to TskTsk since they are correct ... it probably will pass. But, if what you have experienced, turns out to be the norm in your trading you will have the ideal problem confronting you. Cope with it when it is reality. Advance planning is more appropriate when you feel you need to take some action in the near term to avert an upcoming problem in the medium or longer term you have reason to anticipate. If I were you I would fight hard to keep my ego in check. The ego, and we all have one, can overcome any edge we have and lead us right over the edge and into disaster. You are, at the moment, extrapolating long term success from short term results. Do less of that ... much less. Or, better yet, do none of that!
There's always that one huge options trade. Sweat it not, its opposite number is sittin' there waitin' for ya. You'll be just as surprised by him, but not in a happy way.
And how exactly did you manage to buy the 67.5 calls for 0.01??? The lowest print for the Feb 67.5 calls on friday was 1.95. I nominate this thread for the troll post of the day.
============== Trader19; Yes. You may occasionaly want to take money out of your account, buy a trading book, buy or harvest flowers....Sometimes occasional larger losses, happen,not a prediction, so dont worry about any losses . That way both you & your family will enjoy some of the profits. None of my post is a prediction.
troll. very few contracts got sold at 0.01 on the 67.5s on friday (much less than 100). nice try though