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Strategies & Market Trends : The Options Box -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (9981)	3/10/2001 4:57:27 PM
From: hobo	Respond to of 10876

Rest assured I have left far far far more on the table than I have made this past month. I have too much fear. I know it and I can feel it. I know EXACTLY what you mean. I can't stay long because I am getting ready for my trip, as it is I should not be here, but evidently I am hooked -g- Quickly, I can tell you as an example that yesterday I could have made very nice profit on calls I had sold on QCOM. However, like you, I trade with a healthy degree of fear that any minute some news, or whatever you want... they would start ramping this market up in no time. Doing so with QCOM, (and real money), is no walk in the park... Remember I said trading QCOM is like driving a VW with a Ferrari motor ?... well, when it gets wild, is as though it starts raining and you have slicks, no rain weather tires... -ggg- So all of a sudden, I see the profits, (not bad)... (this is in the AM where the trend has not really taken place yet...) so the things hesitates, and indeed at times it fakes as though it wants to come up... So I say to myself... screw it, it is best to secure a good profit, rather than risk it... so I close the short. What then... ? about oh.. I forget, say, 1 hour later or so... the damned thing tanks big.... So I left on the table a healthy amount. Same thing happened with short calls on CIEN and BRCD (I open them 2 days ago, and closed them yesterday... but with the fear of a reaction rally, I was not going about to hold them until yesterday... what happens today... they both tank big time.... So THREE (actually four positions because on QCOM I had a double barreled position with 2 different strikes -gg-), on all I took profits... yet, you see that had I "let the winners run" my, my, my... It would have been ROYAL !! Well... What can I say... moan, cry, and bitch. Yet I am happy as they were profits. As for: "this is bottom now", "reaction up", "sell-off", Depression, Armagedon, whatever.... Frankly, I doubt anybody knows for sure. Trading on your tippy-toes perhaps is actually healthier than trading with no fear... that is when you get killed. I used to have a soccer coach that used to tell me: "Run lean and hungry that way you will be sure to never go to sleep. Eat your opponent as if you have not eaten in weeks and better yet, as if this was going to be your last meal in weeks, then and only then you will play mean enough to win" -ggg- I guess this can apply to trading... "Lean and Hungry" with enough fear as if it there was a torch about to burn your butt so as to run faster than anybody in case trouble starts. --gg-- Take care.