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yes, also learned...don't trade options if you don't know wtf you are doing (not nearly as bad if using correct position sizing, which I didn't)...capital preservation is of supreme importance so cutting losers really is as important as they say...greed is real and I got it...and a few more...

voted no, she's got one more good leg down in her. I also felt the same way about the covid drop as well, stayed short waaaaaay too long and got my ass handed to me so...SPY will probably be @ $500 in a few months.

you are right I did assume. The trade is absolutely not a disaster and your only being down 10% is proof of that...it is good that you have the cash to cover...and it kind of sounds like to believe in the future of this company and wouldn't mind holding the shares??? But the fact remains that...

gotcha. so in this case, yea you obviously should have had a hedge even though IV hasn't increased (the only time I would argue not to is if perhaps you wanted to actually acquire the shares). But one smart thing you did (probably the smartest thing you can do when selling options), was wait...

are you basically saying: "why is this guy trying to reinvent the wheel on entry points when we have some pretty basic, tried & true methods already...and all one would have to do was a little back testing to prove to themselves that they are effective...but this nut bag (me) is just part of the...

what are you calling "USpot"? US spot as in the dollar index? I don't understand the relation. and IMO selling options without a hedge simply for the sake of collecting the premium is always a bad idea.

sick burn man. I'm just not so sure about certain patterns like you are pushing...are they really better than just buy when rising, sell when dropping...you're the one who said don't make this complicated. Sure I obviously believe in certain aspects of TA...just not all of it.

You are spazzing out again.

https://notthebee.com/article/bidens-new-bill-would-raise-taxes-on-anyone-making-over-30000-a-year-

I am using almost no TA in my trading outside of moving averages. I havn't given them much merit to be honest. You believe successful trading is not possible without implementing basic setups like H&S, flags, etc...?

yes, I am going to back test some ideas I have from this thread. I mentioned that already. I will do some testing on hourly charts like you suggested as well, thanks.

it would be simple and obvious to say 1 out of 20 instead of 5 out of 100 lol...common denominator and all that ya know? Thanks for your input.

They are just examples of the small moves I am talking about.

ive done a little research on WD Gann in the past...I remember his books being sort of rare and expensive so I didn't buy any lol. Ill check it out some more, thank you.

The support and resistance confusion comes from the chart of yours I posted...where support was found and a reversal occurred and the only reason I mentioned it. But I also could have added the word "major" so it read "major support or resistance". Meaning...I am just talking about small...

Being short vol in this environment without a hedge of some kind is begging to be sent to trader heaven. Please sweet baby infant Jesus take a break from naked options until you have a bit more of a handle on them.

yes this is a problem with options and a big reason I abandoned them...the price swings are so large compared to other trading vehicles that you will go broke using stops (unless trading long dated/LEAPS only). you did good selling when IV was high from spike...but should have sold a call...

daily candles. No difference between retracement and counter trend movement as IMO both mean a move in the opposite direction of the prevailing trend. I think I need to change my entry points...I think my current method would work better with a more loose stop but I am not comfortable with...

lmao so stupid man