I'm not sure I am experienced enough to be gutsy. <g> Right now I think I am breaking alot of rules, but getting away with it by hanging around smart gutsy experienced traders, like you babe, and a lot of other people whom I have come to admire. If I start naming names I will surely forget someone, so I won't start a long list buuuuut, I can't leave out Jill. You two have such different trading styles, and they both work. The contrast is fascinating to me. It also gives me heart that she has and freeus have real jobs and still do so well.
Okay, philosophical questions:
I have trouble setting expectations for an option. I think it is the time factor that bugs me. freeus says, "Any profit is a happy event." How very true. I'm learning to take the bird in hand. My QCOM experience certainly reinforced the concept. <WRY G>
OTOH
It is true that you never make a triple if you sell your doubles. I bought TERN calls within a few minutes of the release of the Gilder report and I sold them the same day. I feel I should have remained more steadfast and that I gave up a great deal of profit, but a one day double seemed good enough. Knowing when to sell is so hard.
Any input, rules of thumb, wisdom, axioms anyone wants to share would be most welcome. |
