Wednesday, June 10, 2009
Kick myself in the ass day
I closed out my X call spread at $29, today it hits $40. I have June $50 covered calls sold on TBT and today its at $58. In this case, doing nothing and just sitting long would have made me more money than actively trading. I'm getting tired of not being able to acurately predict the future. I'm working on that.
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None of us really have a crystal ball. If it were that easy everyone would be doing it. But the beauty about trading is that you don't have to have 100% win rate to make money in the market. You can be right 60% of the time and still make a but load of money. The key is risk management, you have to have a system and stick to it.
ReplyDeleteAmen brother. Losing is part of the process... let your losers go and your winners run.
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