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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: FaultLine who wrote (93)	4/20/2001 9:44:19 PM
From: Mathemagician	Read Replies (1) of 5205

Excellent move, dfl! Excellent post, too. Ladies and gentlemen, dfl's post underscores the importance of writing down and completely understanding every contingency when adjusting one's CC position. Without that understanding it is impossible to make good decisions consistently. It also illustrates the importance of a very underestimated point: In order to make good investment decisions, you must be able to clearly articulate the reason you opened your position in the first place! I recommend keeping a journal of sorts where you write down each move and the reason for making it. This will help you accurately keep track of your goals (and has the added benefit of helping you keep track of your portfolio). Use the journal to help you remove emotion from your investing decisions, especially in times of heated market activity. Periodically review the journal to find the errors that you repeat and use the journal to help you correct them. Try to think of yourself as a business. No company would make any investment without thorough analysis, without accountability, or based on emotion. Neither should any individual. dM

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