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Sharing some random personal thoughts with the list:
a/ The Dow Jones index will henceforth be called "The Wow Jones Index" on my
wall.
b/ I did not predict this would happen.
c/ I came in expecting the bottom to fall out at any time yesterday, since
the Naz was dropping. So the fact that the Dow went ballistic threw me for a
loop. So - for the day - I choked. In retrospect, all I needed to do was
trade the Trend Day on the 5 minute chart.
d/ I came in yesterday AM long some oex + queenie puts as part of some
leftover position. I closed it all into the AM dump, not believing the good
fortune I had of getting out whole on the ozzies and making some dough on
the queenies.
Mercifully, I didn't lose money on the day.
Considering how arrogant/cocky/confident one gets in one's winning days, I
regard yesterday as a victory. Three years ago, I would have faded the trend
day on the spoos in defiant disbelief.
e/ I went back home thinking about the money I left on the table. Looking at
the charts, it seemed simple to me re what to do. Eventually, I traced my
missing the day's trading rhythm to a war of words that I had had at home
the previous night. Its memory stayed with me, monkey on my back, all day
yesterday.
The first thing I did once I got back home was make up with the woman.
g/ Next to my family and some friends I've made over the years, OPTIONS got
elevated to "thank the lord for my good fortune" status.
Gaming big picture and all that is great, but sometimes, the day to day just
blows me away. The more I trade options, the more prepared I get for the
"what-if" event. And the less inclined I feel that I am buying pointless
insurance.
After all, "what if" is what survival is about... With the past 2 days'
events, I have now seen "what-if" happen to me in every market I trade.
I think its okay to say all this publicly. More than catharsis, it feels
good to be able to say all this and go back to my trading screen with an eye
open for the next opportunity.
Gitanshu
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