That first loss is always the hardest to take, but it's better than a worse loss later on.
If you are looking at longer time frames, explore the world of selling premium by entering short term short positions against your long term long position. You put time decay and volatility compression in your favor. Great way to pay off or lower the cost of those longer term trades too.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.