Weird price action

Discussion in 'Trading' started by wxytrader, Feb 16, 2024.

  1. I sold a put on the 12th @199, the price went up to try to entice me to take partial profits, but I was stubborn and didn't want to give back any premium. Then price crashed down the next day to 193...clearly to try to get me to close my position for a loss...I was like nope. Then the next day it closed otm at 199.13 for full profits. :)

    This shows the importance of being prepared to take assignment of shares. The market clearly tried to bully me out of my position, but I basically told the market to piss off, I'm good.

    I probably broke every rule of trading here according to the 98%...if I was at a prop firm I probably would have been penalized even though I maxed my profits. This just goes to show you that even prop firms have been drinking the coolaid on stop losses lol. So I guess that puts me in the 2%.

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    Last edited: Feb 16, 2024
  2. maxinger

    maxinger


    Weird 2% posting actually.


    Nothing weird about price action.
    Price can move in various manner/fashion.
     
    smallfil likes this.
  3. That's a weird set of candles...you won't find another one going back a year. Coincidence that I just happened to have sold puts? You tell me. It should be called do-si-do like in square dancing where everyone grabs a partner. It even sounds Japanese. :)

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    Last edited: Feb 16, 2024