Sounds like the traders prayer. Please God if you'll just get me out of this mess I'll never do it again.
I like your attitude. With determination and hard work, if you truly believe in yourself, something good will happen to you!
I am trying....I am not a day trader. I am always in the market with a combination of shares, and option spreads. This weekend I am going to be practicing trading corrections within the context of a bull market. In the near term, I predict a correction but with some surge days to lift the markets up just to get knocked back down again.
lol, roll. Learn how to trade direction. Adjustments = death. If you're hedging dynamically you're going to go broke (again). Cognitive dissonance.
I was caught on Tues-close but had convex downside (>1SD) with a skew lock but assumed we'd not get there. Futures were closed when I got the news so I immed shorted a basket of single name tech AH and all fills were within 0.2% of the close. I was long vol, long net puts and long skew. Just under 2% gain for the day but would have lost close to 5% on net liq on risk positions.
I will be alright. I am not doing this full time. I am staying as a contributor to real GDP and the 401K system. I ain't ever selling my shares. I am just shaving some delta off with some short-term option trades. But when the market goes down it puts those deltas back. But I win on those. That's how it works. Corrections don't last forever.
Hang in there and hang around people like @destriero, @taowave....., and you will learn something good. I have another suggestion: If you trade directional, don't over trade, be very selective because most of the time the pros get it right and there is no money there. Retails like me have one advantage over the pro option traders and MM: I don't have to be in the market all the time.