Boca_Bobby Basics

[boca_bobby]

TRUST THE CHART!

I just don't what it's gonna take sometimes. I sold TCK for a damn near 70% loss. It was based on fear thinking I just called it wrong. I had thought it better to save a few dollars than lose them all.

But what a difference a day makes. The day after my loss on TCK, it started to rebound. And today it push up and over the middle bollie which was my short term target.

No one ever makes money based on fear. And I have been playing smaller to avoid big losses. In the case of TCK, I would have better served to just let it ride. In the world of options, the difference between a 70% loss and 100% loss is so small that it just makes sense to let her ride.

Of course if you are playing 100 contracts at a time, then it's a different story. It just goes to show you, even with all the knowledge, a game plan for the trade and a proper money management system in place; we are still to be on the look out for when emotions start to rule our choices.