When do you admit you are wrong?

Please don’t use the phrase “pro boys”

I sell vol at 30, calculate my pnl if vol were 40 and that’s my stop.

 

That's why I was very careful in putting a "TM" after it

 

Now that's funny

 

I trade /ES and TOS does not let me put a GTC Stop-Loss on Options on Futures, so I have mental stops. I've learned to be disciplined enough to "Get-the-F-out" when I hit either a certain price level based on my short structure or 1x loss on premium collected. My stop price levels are kept track using a spreadsheet. So far (and I am only a new-ish options trader) my negative vega positions haven't been whipsawed too often (IOWs still overall profitable). Monitoring closely to closeout positions on quick down moves due to my sideways bullish assumption of the market.

 

Whatever I had on, all I did was think about what was going to go wrong. It's a good thing.

 

I once calculated my emotional response to wins vs. losses at about 10:1. I think the common accepted textbook psych evaluation on that suggests it should be 2:1. Ya deal with 'em, ya got no choice, but ya ain't gotta like em. Losing SUCKS!