I don’t know how many of you who read this run blogs of your own. I have a great respect for those of you who do. The amount of time that goes into creating content for a website, and the amount of effort required feels immense. At least to me. Pushing forward even when results fail to impress is pertinent. Without being able to pick yourself up after a fall, who is going to save you from lying in the dirt?
Today could have been a good day on the options front, but I decided, in a drowsy state, to sleep in. I slept until 7:00. My alarm, which I had set for 6:00 (PST), continued to bleep. By 7:00 AZO had risen from a low of 123.5 back on up to the ~128 level. I felt somewhat disappointed.
I should have known that any sort of gap down would become filled by the end of the day. I won’t be too hard on myself, because I did limit my losses by risking a fraction of my account; but, I should have made a greater effort to protect myself, even if that meant forcing myself up or getting to sleep early.
Something good did come from it. I learned that my ability to choose stocks has improved. While there were plenty of other good, and some better, choices out there, I succeeded in picking a stock that did drop. And it dropped enough to increase the value of my puts some 10+%.
In tandem with developing new technical trading techniques, I am working on successful mental strategies for achieving success in trading. I realize that I need to let go of loses and take what I can get. I had a chance later in the day to pick up a 5%+ gain, but held on stubbornly. I have gotten better on letting go, albeit I have not hit the levels I would like.
This brings me back to blogging. I feel that my maintance of the site has improved somewhat. Along side my understanding of stocks and the economy, I would say reasonbly well. But I am definitely nowhere near where I would like to be. The gap is large and difficult to bridge–which, I think, is the point of this post: Don’t give up. Keep pushing foward. In time, and with effort, you will be able to see a better tomorrow.