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Note: Trading small dollar amounts, using relatively short holding periods, continues to be a losing proposition. Here, I thought my entry work was excellent, but I didn't have an exit strategy for a rally into earnings. The couple hundred dollars in remaining premium going into the event just became a lotto ticket.
The chart above looks a lot different than the BIDU chart I worked with to open this trade -- distortion is what you're looking for when you're on the right side of a move!
Consistent market/technical analysis and sticking to exit strategies continue to be difficult propositions when capital is scarce and other activities demand my time, energy and focus.
This tweet is a good reminder of consistent loss management in directional options trades.
With this total loss, trading is suspended alongside poker due to liquidity issues.
Status: $1.00 account value, ($977.40) YTD loss