I'm up only about 3% and have completely lost my nerve. As soon as a position moves against me I panic. Should've just loaded up on NFLX last year I guess. Can't find anything to buy, stocks all seem so expensive. At the same time, will the Fed ever let this market drop?
To me, it is the art of the trade. I am constantly maneuvering buying a spread here, and a spread there, giving little counter punches when the market moves against me, and patiently waiting for the market moves that bring me substantial profits. I remain down for the year, but certainly got some back today and my realized losses this year are only 2%.
My net worth continues to rise, almost daily, so no complaints here. I am interested to see which direction the market heads thru rest of this week, hard to believe that it will head right back upward, but I can take a move in any direction at this point. Just would not want to see an out right market crash or uniterrupted bull run to Dow 20,000!
You would think so, but I have a feeling I would freak out for example if I had been holding April puts today. I don't know how you guys do it making so much money off puts. Every time I look they seem way too expensive, I never think VXX can drop enough to make it worthwhile. I have been spinning my wheels for several months now. Still need about 1000% gain to make a real difference, 3% in 3 months sure won't do it.