When in doubt, leave it out < I remember being in a training class for my first job out of college and my teacher said that. She was talking about dress codes, and that if we had a doubt like...is this work appropriate, then the answer was no. This quote has stayed with me and even proven useful in trading. Right now we are in indecision on a lot of names. No clear uptrends, and still most stocks remain in overall downtrends.
Most of us are impatient, we want to catch the bottom, even though we know when we wait for a clear direction the profits flow effortlessly.
It's ok to put on a small position, but just know where we are at in the trend and range.
What's your position on AAPL for the next few days or weeks?
For me, I am really leaning sideways, but am testing small positions. It is important to wait after the morning noise dies down before committing. In fact, yesterday I broke my 11am rule of no decisions or trades til after 11am, and closed a put on another name. Then within the hour, the position flipped. Talk about regret. What was worse was that I had hedged it the day before with a call, and closed the call at a loss too. Amateur moves, but hey, new day and fresh eyes will make a killing.
Most of us are impatient, we want to catch the bottom, even though we know when we wait for a clear direction the profits flow effortlessly.
It's ok to put on a small position, but just know where we are at in the trend and range.
What's your position on AAPL for the next few days or weeks?
For me, I am really leaning sideways, but am testing small positions. It is important to wait after the morning noise dies down before committing. In fact, yesterday I broke my 11am rule of no decisions or trades til after 11am, and closed a put on another name. Then within the hour, the position flipped. Talk about regret. What was worse was that I had hedged it the day before with a call, and closed the call at a loss too. Amateur moves, but hey, new day and fresh eyes will make a killing.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.