How to Decide During a Bad Trade?

[khilmi]

Personally with me, I wondered how to make a decision when we trade badly is to temporarily close our position and not trade again, wait for the heart and mind to calm down, and then we try to trade again when the condition of our body is prepared , it will give us a better impact than we force ourselves to trade but ultimately get bad results

[Tanveer333]

yep. stock exchanges close early Friday also - Sometimes these dead stretches can be attractive spots to bank some theta, but I am looking at selling SPY or SPX put spreads out to Jan exp and I don't see enough juice to be worth the risk

[sufiyan22]

Each new comer should peruse this post and ought to tail it entirely on the grounds that for the most part new comer exchange amid awful time or unpredictable time and they winds up in loosing money...Traders ought to have enough tolerance with the goal that they can choose weather they should exchange or not

[Hanif484]

..risking $3.00 to make 60c not my meat, I would rather risk 3c to make 100 bag any day

Looking at a post FOMC rally to close the year - filled a Dec28/Dec31 SPY call diag @ $285/286 for 3c

...to protect it trying fill a SPY call bull vert Dec28 $282/283 for 10c

so, risking 13c to make a bunch

....filled both legs equal numbers

[Asif777]

Out of the following:

SBUX Nov30 66.5 PUT up to $1.58 from $0.45

SBUX Dec7 67.5 PUT up to $2.40 from $1.00

Overall, SBUX was profitable, but not verifying my indicators after the update cost me a lot of time and tied up money that didn't need to be. It has more downward movement over the next couple of weeks, but now nearly everything is pointing to an upward bias soon, and there are a lot of good picks coming available to capitalize on that.

[Hanif484]

..risking $3.00 to make 60c not my meat, I would rather risk 3c to make 100 bag any day

Looking at a post FOMC rally to close the year - filled a Dec28/Dec31 SPY call diag @ $285/286 for 3c

...to protect it trying fill a SPY call bull vert Dec28 $282/283 for 10c

so, risking 13c to make a bunch

....filled both legs equal numbers

--- Update ---

..risking $3.00 to make 60c not my meat, I would rather risk 3c to make 100 bag any day

Looking at a post FOMC rally to close the year - filled a Dec28/Dec31 SPY call diag @ $285/286 for 3c

...to protect it trying fill a SPY call bull vert Dec28 $282/283 for 10c

so, risking 13c to make a bunch

....filled both legs equal numbers

[Tanveer333]

Funny you should mention that, because after looking at my old options training stuff (and I did check out Tastytrades), I have actually been paper trading that type scenario since Monday (using Fridays option prices) with SBUX and other stocks (GS, LULU, and STZ).

I might just do that tomorrow, depending on how it looks now that I have the indicators dialed in properly again.

Thanks for the heads-up, TF!

[Asif777]

so much for SPY $265, whacked today. I have not had anything substantial short the market to catch these moves. I have blown some change bottom picking but mostly just been a watcher.

Plausible scenario for a bounce is a FOMC no-call on the Dec rate hike, but that's a month away.

[Hanif484]

you might consider selling some puts against all those long puts? The Nov30 $65 puts could sell for $0.45 tomorrow - you could pocket that credit if SBUX turns back northbound and if it doesn't get all the way there by next Friday.

[Tanveer333]

Expiration week trades can lose money very quickly, so just remember tomorrow is basically the last trading day. Markets are closed Thursday and only open until 1:00 p.m. Friday (which is typically a very weak trading day), so you'll need to watch that closely to get out at a profit.