Today's Profit / Loss
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Never Get Too Greedy
Don't Give Your Money Back to the Market
This week was a strong week with just a few trades. Normally, I would make several trades in a week, but I sat on my hands the last couple of days. I had plenty of profit, and I didn't want to be greedy. I probably would have ended up giving some of my gains back to the market. It happens often, which is why one of the cardinal rules in swing trading is "don't be greedy."
Never Listen to the Fomo
A part of me was itching to make a trade, like an addiction. I was feeling major fomo while watching options premiums swing over 100% on some contracts.
Almost every day, I tell myself, "I should have bought more," or "I should have held longer." That is the greed and fomo talking. Im almost sure I could have made more profit. But sometimes it pays to just sit it out and quit while you are ahead. Never listen to the fomo. There is always another day.
As always, I am not a financial professional, and this is not investment advice. Be careful and be patient. Dont anticipate the market. Rather, participate in the market. Give your investments time. Don't be greedy. Don't invest in anything you don't understand. Don't put all of your eggs in one basket. Don't listen to the hype. Don't fomo or panic into or out of trades. Do your own due diligence. And just follow the trends. A trend is your friend. Good luck trading.
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