Time to take responsibility. From the bottom of my heart, I don't believe in curses nor blessings. They are, to me, psychological back hole for blames, in which we don't need any reason or reflection and attribute failures (less often success) to that.
Even for that, my failures are due to "stick to the gun" principle. Larry Livingston (the protagonist in Reminiscence of a Stock Operator) stuck to his gun and won millions, before he then lost millions before he recovered financially. I need to set a stop and but now the stop is lower because I can tolerate more risks after the last big win.
So I stuck to my gun and suffered a significant loss yesterday. I lost $500!!! it is not the money but the confidence. I closed everything to cash in and longed a Put the day before. The only put I had limited my exposure to risks because that 770 Put is in fact 90% time value and 10% intrinsic value. That being said the delta still killed me.
Enough about sticking to my gun, I looked at the intra-day chart and saw the rise again fits my day trade rule. Had I got into that trade for a call, I could had made some easy money.
The final verdict is, I need to be nimble. I need to know which set of rules applies to which situation. I need to be a day trader and a trend trader the same time.
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