3 rules that i broke (have continued to break)
1) Setting sell stops... + & -
2) Pay attention to index
3) Just be humble and take the 20% already...
I AM TOTALLY LACKING DISCIPLINE...
iʻve missed officially on both ends and lost. we may be headed for a nice upside bounce this week. Iʻm unsure how long it will last. The so-called holiday rally is upon us starting next week. And the bulls have started "talking" down the bears. Bears must remain patient.
My STP idea was blasted yesterday...and FSLR totally beat me up both ways. Iʻm not chasing these guys. Itʻs too late...
My bear picks of tech were all green at the open...and coming home i found them red...if not close to it.
Iʻm switching gears again... the leaders roared back today...
RIMM, GOOG, AAPL
In my incredibly ridiculous errors. Iʻve found what i hope is a solution to my dilemma in setting definite stops, not based on the price of the option itself (where iʻll look @%age change), but on stock price itself. In study, i offer the following...
RIMM, i wouldʻve sold my put once it crossed below 99... and wait to change strikes.
my mind has been so stuck on a psychological gain...100%, 50%, 25%...that at times i forget about how the price & volume is involved in setting my stops. In the case of RIMM i failed to place a sell @1030 (75% gain). itʻs more likely that i wouldʻve sold @10 am. my portfolio A has in fact net-changed 250% in gain/loss.
anyway, looks like iʻm going to have to wake up early consistently. DISCIPLINE is whatʻs been lacking. Straddle plays may be the best for the time being. instead of the homerun... a base hit should be the goal... while the HR should be the suprise reward for sticking to the plan.
btw, Gio reminded me to watch out for the leaders in his examining my "PUT"s in AAPL, FSLR, RIMM, GOOG. He was right on. I actually paid the least attention today of the last 2 weeks and paid for it.
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