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Traded Value$Tesla(TSLA.US) said it wasn't getting carried away, but that was just fooling myself. Who understands the feeling of being completely shaken out of a position? I pondered countless possibilities pre-market, even studied the trends of several giants' earnings reports exceeding expectations on the day, most showing relative highs around 10:30. I even clearly planned to exit below 244 and take profits above 250, thinking intraday adjustments must be opportunities because too many puts were exploding—at least tens of billions, with nearly a month's worth of puts starting at -70%, forcing a switch to going long. And yet, I still couldn't control my hands, getting shaken out right at the start, and the idea of selling in batches was long forgotten. The cost of not sticking to discipline and trading plans is brutal!!
1. Before buying any single-stock options, clearly define your exit point.
2. Before buying any single-stock options, have a target price and psychological expectation.
3. Don't get carried away—mindset > method > capital management.
4. Emotions, emotions, and damn emotions again. There are plenty of opportunities; you grow by falling.
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