Thanks very much MMStockPlay for your PM, I deeply appreciate all your comments and your wisdom and insights. :) You're doing very well, keep up your outstanding work, videos, and DD. :)
IMHO, if one is going to trade options, which are quickly deteriorating and wasting assets in terms of Delta, price and premium, it is important not to treat options, which have a very limited lifetime, like stocks which theoretically have an unlimited lifetime. When you have a profit in an option or a set of options take the money immediately and run; don't let them take it away from you. I trade options in terms of hours, minutes, and seconds. Many times I have traded an option for only 30-40 minutes and then I sold it for a profit. Later on that day it was worthless! :)
Always use ID (intraday) charts in addition to 2-hour, 4-hour, daily, weekly, and monthly charts. I review and/or post thousands of charts of all kinds a year. :) I monitor the stock and commodity futures prices and charts worldwide 24/7 365 in addition to other responsibilities. You are right to put your job and other responsibilities as a high priority.
Only use a limited amount of your capital to invest or to trade. Patience and discipline are the keywords to successful investing and trading. Without technical analysis, it's like flying with your eyes closed-very dangerous to your wallet. :) "He [or she who sells today will live to buy another day." "Better a steady dime than a seldom dollar." Don't go for a killing or your will be run over. "They" taketh it away faster than "they" giveth. Don't keep speculating where the price will go; a good profit in the hand is far better than a theoretical profit in the bush. Don't plant roses around the pool next to the castle in the sky. :) Any sale for any profit is a good trade. :) Don't marry any stock or option. Take you money and then say "NEXT."
Wishing you and yours the best always,
Bob
AI
