Hey Guys,
The market had a green day yesterday and overall has been showing strength. It's encouraging to see and might bode well for my forthcoming trades.
I closed those option trades yesterday that reached their time limits. Overall, I had a negative week in that account, despite have the three victories early in the week. Those Healthcare sector options (GSK and AZN) really dragged me down.
I had the feeling a few different times this week that I was in the wrong place at the wrong time and buying a stock or option right before it had a precipitous fall. When it happens multiple times in relatively short order, the human mind has a tendency to want to make sense of it. What I can tell you is that statistically, it's bound to happen at times, and just because it happens multiple times in a week doesn't mean it's an aberration from statistical norms. So even though it may feel uncomfortable when it happens, as always, I consider is just another part of the trading journey to live through, and I will stick to the plan and continue to lean on the data that decades of backtesting results show me.
I took on two new trades today. I bought both the stock shares and option contracts for PSX.
If you have any questions or feedback, I'd love to hear from you.