mart down big time, woke up a no sleeping night

Discussion in 'Psychology' started by NoMoreOptions, May 18, 2006.

  1. can't sleep, but sleep will tomorrow be better?
  2. maybe

    -- take your position off...see how you feel

    -- reverse your position with a smaller size and a tight stop...see how you feel

    -- don't initiate any trade if you're feeling uneasy and have no positions

    if any of these actions take a weight off your shoulders, maybe they're the right actions
  3. use options to protect overnite. u can learn alot about options on internet. options are a tool everyone should use when trading, at least to protect/hedge. think of options as insurance.

    buy calls-right to buy long stock
    short calls-obligation to sell stock
    buy puts-right to sell stock
    short puts-obligation to buy stock

    learn those methods and strategies and place them around underlying security

    for instance, if you hold stock, buy puts or sell calls against the stock to protect/hedge. stock drops overnite lite NBIX did two days ago, you make profits in puts/calls to make up for loss in stock........etc, etc.

    this will allow u to saw logs and sleep like a baby