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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Uncle Frank who wrote (5093)3/1/2011 2:45:08 PM
From: alanrs   of 5205
 
I've got that same superstition problem. The reason I'm trying to get over it is that I started doing options more than 10 years ago with the idea that I would do just one contract at a time for a year to see how it turned out, my trial phase. Unfortunately, I got stuck on trial and fell into a rut of doing 1-2 contracts that I've had a hard time breaking.

Because of how far out of the money I play, my success rate has been astounding, I've often gone more than a year without a losing options trade and can pretty much count on putting $40 in my pocket for every $100 I write, year in and year out. When I look at my record I just shake my head at myself, I should have confidence by now that I can do this and should have graduated to 5-10 contracts (well within my risk tolerance) long ago. So I guess I was looking for reassurance that I can do this by posting the trades publicly in real time, trying to get out of my own way.

Still, even though I'm willing to sell 10 contracts on some things, I sell slowly with the idea that if I'm wrong in the very short term I can sell more to get to that higher count.

Trading is an interesting proposition, it has very little to do with the market and a whole lot to do with ones own psychology.

ARS

Edit: Remembering the beating you personally took by sticking your neck out (Uncle Frank made me do it and now my finances are in ruin) I can understand your reluctance. The last thing I would want is the responsibility of a following.
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