Weird price action

I sold a put on the 12th @199, the price went up to try to entice me to take partial profits, but I was stubborn and didn't want to give back any premium. Then price crashed down the next day to 193...clearly to try to get me to close my position for a loss...I was like nope. Then the next day it closed otm at 199.13 for full profits. :)

This shows the importance of being prepared to take assignment of shares. The market clearly tried to bully me out of my position, but I basically told the market to piss off, I'm good.

I probably broke every rule of trading here according to the 98%...if I was at a prop firm I probably would have been penalized even though I maxed my profits. This just goes to show you that even prop firms have been drinking the coolaid on stop losses lol. So I guess that puts me in the 2%.

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I sold a put on the 12th @199, the price went up to try to entice me to take partial profits, but I was stubborn and didn't want to give back any premium. Then price crashed down the next day to 193...clearly to try to get me to close my position for a loss...I was like nope. Then the next day it closed otm at 199.13 for full profits. :)

This shows the importance of being prepared to take assignment of shares. The market clearly tried to bully me out of my position, but I basically told the market to piss off, I'm good.

I probably broke every rule of trading here according to the 98%...if I was at a prop firm I probably would have been penalized even though I maxed my profits. This just goes to show you that even prop firms have been drinking the coolaid on stop losses lol. So I guess that puts me in the 2%.

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Can this post be moved to my stop loss topic? I can't delete and move it anymore.


Weird 2% posting actually.


Nothing weird about price action.
Price can move in various manner/fashion.
 
Weird 2% posting actually.


Nothing weird about price action.
Price can move in various manner/fashion.

That's a weird set of candles...you won't find another one going back a year. Coincidence that I just happened to have sold puts? You tell me. It should be called do-si-do like in square dancing where everyone grabs a partner. It even sounds Japanese. :)

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