Today, I spent most of my Saturday snoozing away. Sleep is my comfort zone. I had a lot of little dreams that kept me in the somber land that I couldn't get up from. Now I can't even recall them. What did I accomplish? Nothing.
When I am bored, I am prone to make rushed trades based on the current market trend. My call option for $AAPL for $120 expiry date Jan 17, 2015 expired worthless. I lost $86.84. There were several times I could have sold my call option at a lesser loss, but I didn't want to admit defeat until the very end.
My bet went sour and I let it punish me. It wasn't a very big bet. I could not lose any more than what I bought into.
Point of my story is if you are not dedicated like me, you will end up on the losing side of the trade.
Rule#1 - Always minimize your loss
Rule#2 - Keep your profits
Rule#3 - Do not watch profits sink into abyss
Rule#2 - Keep your profits
Rule#3 - Do not watch profits sink into abyss
I should do the preaching to myself. I need to wake up and stop fooling around. Time for me to take this more seriously.
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