I screwed up, I'm still learning.

Best stock I have found for IC are MMM and AET. However this month I wisely stayed away from MMM as its earnings were coming up.

Sorry to hear about ur GOOG experience. With high flyers like it, u generally stay very careful of them. Just mark it down as lesson learned and move on, don't let this loss get you down on your possible lucrative options strategy.
 
Quote from DonnaV:

Seriously Arnie..don't beat yourself up. GOOG is a VERY difficult stock to trade esp in options. If you really want to understand options you need to either do indicies or stocks you have a good
"feel" for. Always....always try in small lots so you won't lose big time and for an IC DON't pick a highly volitile stock. Iron Condors are best on stocks that are stable and don't move very much. stocks like GOOG will always take you to the woodshed.
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I agree with DonnaV on this one, regardless of whether you are trading options or the underlying. I just think that there are some stocks best avoided until you have a great deal of experience, and GOOG is definately one of them.

Of course, another reason that I avoid GOOG is that I don't have $43,000+ sitting in a trading account to buy 100 shares.
 
Arnie,

Don't beat up on yourself over mistakes.
We all have them!!! I am still making mistakes but, trying to avoid making to many of them. Maintain a trading journal. Since, I started a trading journal----my mistakes kind of jump out of the excel spreadsheet so, it enhances the learning process!
Unlike you, I just trade directionally, long and short sides depending on where the stock is going.
Speaking of mistakes, I sold out of ATI DJ too soon. I think I sold out my my contracts when it was at $7.40 (got in at $3.70 if I remember correctly). Made a profit so, that was the good part. This option is around $22.00 now----ouch, and would have been a "very good" winner. Oh well, back to the drawing board.
 
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