You're dead wrong! Keep in mind that I intend to reach 100K by December ending, that alone should put me under pressure. But wait tilll I generate 20K between now and next week Friday, then come back and run your commentary!
Same happened to me with goog before earning back on march....the rest of the mkt was in bad shape and I was scared to death: sold within days on good profits but gave up 50% gains. That was messing up with my initial strategy to keep it as part of my portfolio. FCUK PS: true, psychologically can be worse than a loosing trade
Multioption your next trade HAS to be a winner to get your emotions under control, if it's a loser then your FEAR increases. Perhaps instead of 50-60 contracts go with 5-10? and extend your deadline? To bad your TA didn't pickup on GOOG when you started this thread, your target would have been met. I had my eyes on the GOOG puts last month but FEAR prevented me from buying. I bought GOOG calls last year and since then FEAR has kept me out of GOOG, even though I made 400%. FEAR can be good or bad.
Uninvited guest, hasn't it dawned on you that this guy might indeed have a system that is foolproof? Maybe that's why he has so much confidence in it to post his trades online and risk 20K of HIS own money? Look at the trades produced by his system. They have all been accurate, as per his predictions. Can we say the same of your trading approach? If at the end of December, he hasn't achieved his goal, then you will have a reason to shout and scream, but until then, why don't you shut up and let the guy prove his point! PS: Did I already mention that he is not using your money to trade? Wandering Newbie.
Uninvited_guest, you sound rather infantile but I will oblige you some information.... I've been trading for a living since 1996; switched to Equity Options in 1997; have made over $1.8M in options (mostly on the buying side). Fear/greed is applicable to those who are locked in "rat-race", so 10K is "chicken feed" to me. However, there's need for discipline in trading, a lack of which is the bane of many traders. It's not about how much capital is at stake, rather about applying sound trading principle. I can't be careless in my trading approach simply because I want to prove a point. The best trader on this board has nothing to add to my trading style because I can't and won't change it for any reason! I intend to post my picks on this board for the next few years, but time will tell if that will be done. I don't carry over the after-effect of last trade, hence my approach is one step at a time. Please, spare us your commentaries because you sound very childish and irritating!
Why do you assume I'm in a "rat-race"? And you look down on people who put in small trades? Just as I figured you have jacksh!t to teach anyone.
NUTSEAL: Thank you very much for your reply. Finally got back from vacation today. I understand what you do know. One thing we differ is that you look for 1 or 2% stop losses and 3-5% profit targets. I do 10-15% stop losses and 30-100% profits. I do hold my positions longer than you do though. At one point I was carrying >10 positions open at the same time and realized it is an amazing amount of work to keep up with them. Another big problem I had was getting my stop losses filled at the number I had submitted. With IB I have always been taken out anywhere from 20 to 50 cents under where my stop was placed. But at the exact number on my profits stops. But the biggest issue were gaps. From my experience or my bad luck? more than 50% of gaps went against me. For my system to have worked I would have needed to have at least a 50/50 ratio. Trading options is 1/3 of my trading portfolio. Hold positions from 1 week to 2 months and try to never pay more than 30cents of time per month. Anyways again thank you for your detailed reply and Congratulations on your success !!
Man you need to simply go away. We are having an option party here and you seem to have a huge bug up your ass. Disappear please.....you pollute this thread.