Gotta use day trades as day trades and cut them quick if they don't move - UPS this week same thing didn't flow and had to cut but finally dropped Thursday. Overnight trade risk with short-duration is hard to do because of gap up/down risk so a lot of day trades with short-term options have to be intraday - same with MSFT.
Thanks Dan. I failed to distinguish or even follow that rule on MSFT that hurt my PnL. You even hinted at it in discord. I was speculating hoping one of the 3 big earnings failed miserably, the opposite happened META +20%. Undisciplined move on my part.
Yeh - I don't like to interrupt people's trades for the fact that if I am wrong and they are right it's bad. Next week will be good - just takes one easy trade to get the P&L back - one thing I do is switch to small 3-5 lot trades to get back to green sometimes so you can patch it up. That $5000 level going to be key - prob good for some intraday trades next week around that area!
Not having a reset and betting although I’m respecting my risk limits. Is tough many losses in a row
Gotta use day trades as day trades and cut them quick if they don't move - UPS this week same thing didn't flow and had to cut but finally dropped Thursday. Overnight trade risk with short-duration is hard to do because of gap up/down risk so a lot of day trades with short-term options have to be intraday - same with MSFT.
Thanks Dan. I failed to distinguish or even follow that rule on MSFT that hurt my PnL. You even hinted at it in discord. I was speculating hoping one of the 3 big earnings failed miserably, the opposite happened META +20%. Undisciplined move on my part.
Yeh - I don't like to interrupt people's trades for the fact that if I am wrong and they are right it's bad. Next week will be good - just takes one easy trade to get the P&L back - one thing I do is switch to small 3-5 lot trades to get back to green sometimes so you can patch it up. That $5000 level going to be key - prob good for some intraday trades next week around that area!