Chapter 3 Trading journal #142–08/06/2019 +$112 (Broke rule with $TTOO and options)

Main notes:

• Into the close, my mentality should have been, “let me lock in gains.” I was up $160. At this moment, my bottom line should be my only concern.
• Options skew is the number 1 check before selling anything. If something is 2x priced in, think about what will happen if IV expands. When the prices are inflated so much, look for going long.
• Broke my rules with $TTOO. Short on the way up. Tomorrow my goal should be no broken rules.
• Take it easy and relax. I get so mentally connected to the market crush idea that bought puts 3 times, lost $50 on this transaction, and never sold it.
• With all my trade ideas, I have to pay more attention to the volume
• Broken rule with the options: sold puts on the way up. As said many times, trade location with overpriced options (2x) is extremely important
• I have to make sure that every trade I’m in has my full concentration till the close ( AMD mistake into the close)
• When money comes easy. Make sure to save them and hard about it.

Did well that I got out of the options when the important level was broken.