Replies to post #11590 on Short Term Pinch (STP)

[kim40]

I know what you mean. I am still trying to learn all this, but I have been sucking lately at the weeklies. My timing is off on my entry. I just got really lucky with NFLX this week. That chart was way oversold. I only bought yesterday for next week's, so I would have had a little more time. I don't like holding on Friday or even Thursday for that matter. I usually end up getting burned. This one just worked out.

I bought RCL yesterday at .10, could have sold at about .25 and watched it go below were I bought it. I thought f it, I might as well hold until today, they are worthless anyway. I got really lucky and ended up selling them for .48 today.

This is what I have to keep in remembering "there is always another trade". You have profit take it and move onto the next one. Easier said than done, I know. I still get that FOMO that I have to get over.

[SamLBInj]

I used to hold overnight, Now I sell on the same day 99% percent of the time as you never know what news or Twitter comments will be made between the Close and the Open.

This week we had no Choice but to Hold NFLX, either sell for a huge loss or Believe in the Chart and hope it Bounces back like today. The Chart was Right again and Huge Losses became Huge Gains...

Remember, You can always Paper trade to learn the Chart, Once you understand the Chart the Skys will Open Up and you will Hear Music as Money Falls from the Heavens :-)