11-26-2018, 11:22 PM
My buy timing is poor at times, and the only thing to describe it is impatience. It starts off well when I wait 3 or 6 months for a stock on my radar to dip. Something happens to drop it 10% and I jump in with a half position. It starts bleeding down and I chase it will small buys. After a few weeks I figure out I should have just let it settle down before I jumped in with more purchases. Doesn't matter at all for a longterm play. If I intend to hold a cyclical for only a few years the entry point matters. This recent correction went longer than I thought and I was scared not to be long from now until end of year.
Like you, my cover options sales seem to work out fine. Selling covered puts to enter long positions is the smartest strategy I've ever employed. It's a can't lose proposition if you are going to buy the stock anyway. I have a set of rules I seem to be better at adhering too and it works out very well about 85% of the time. I am killing about 5 stocks without ever owning them, even though I intend to own them longterm.
Like you, my cover options sales seem to work out fine. Selling covered puts to enter long positions is the smartest strategy I've ever employed. It's a can't lose proposition if you are going to buy the stock anyway. I have a set of rules I seem to be better at adhering too and it works out very well about 85% of the time. I am killing about 5 stocks without ever owning them, even though I intend to own them longterm.