Been a few weeks since I last posted (I kept results page updated), I still have been more active than I intended on at the start of the year. As my track record has proven with my options trading, less is more. Plan A was to pick few long option positions and to patiently wait for them to trend in my favor. 20/20 hindsight, I would have been better off following plan A instead of going to plan B and C, a great example of losing patience and abandoning the plan.
If your a daytrader or swing trading, getting the timing right is half the job, then managing a winner or loser is the second half; my preference for instant gratification has kept daytrading my favorite style of trading. Having to factor volatility, theta, delta, gamma on top of the technical analysis, current events is what makes options trading a lot more complexed.
Lessons learned so far this year?
I believe my technical analysis is sound, my time frame and expectations for option positions is what needs to be adjusted.Theres a place for options within my trading, I still have faith in a bullish "Long term option strategy" if applied with realistic time frames and good money management.
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