01-06-2021, 07:36 AM
You are correct Mike, I rarely buy an option. It is the inverse of selling and in theory I should be just as successful but I am not. Always room for improvement. I haven't given up on the idea. For whatever reason my account proves I am better at picking bottoms than tops. That works as I am looking for a good entry for long positions. But yes I will cash out when the market quickly offers a gift, and that happens often in a bull market.
You are right that terminology is important. We may come off harsh at times but I know we are trying to help others succeed. I am rough on John because he stops by occasionally and shares clearly impulsive trades. You just can't force trades and do what you wish you had done last week. You will lose money. You attempt to put the odds in your favor or just leave options alone. Every move should make sense and this requires some experience as you refine a strategy that works with your personal risk tolerance. There is no room for overly emotional moves.
You are right that terminology is important. We may come off harsh at times but I know we are trying to help others succeed. I am rough on John because he stops by occasionally and shares clearly impulsive trades. You just can't force trades and do what you wish you had done last week. You will lose money. You attempt to put the odds in your favor or just leave options alone. Every move should make sense and this requires some experience as you refine a strategy that works with your personal risk tolerance. There is no room for overly emotional moves.