Options Trading Mistakes ANYONE Can Make

Getting older sucks!

And after what happened last week, I’m starting to get concerned about my mental health.

I already noticed a few changes in my mental state over the past few years:

As an example, last week, my daughter Vivian and I wanted to make Mac & Cheese.

I read the directions on the box…,

… threw it into the trash …

… and picked it out of trash a few minutes later (!!!) because I already forgot step 3 of the instructions: A 1/4 cup of milk and how much butter? 😳

I also noticed that – as I am getting older –

My tolerance level has significantly decreased

An example:

I’m sitting on an airplane in seat 2A, and then somebody walks in, stops right next to my seat, pulls out the ticket, and says:

“28F…. “

… looks up and sees seats 2A and 2C,

… looks back at the ticket,

… looks to the other side and sees seats 2D and 2F,

… looks one row further and mumbles “row 3….”,

… looks back at the ticket and starts walking while counting “row 4… 5….”,

Buddy, you still have ways to go!

Anyhow… here’s what happened last week:

I traded options on Macy’s, and I sold puts for 0.25.

As a rule of thumb, I like to buy them back at 90% of the maximum profit. In this case, that would be at 0.02.

On Friday, I noticed that my order to buy back Macy’s put options was filled – which was super surprising.

And I notice that…

0.02 and 0.22 are not the same – Duh!

Tuns out I entered my profit target at 0.22 instead of 0.02.

Wow!

I haven’t made THIS mistake in 3 years.

(By the way: If you think that THIS would never happen to you, you’re dead wrong. If it hasn’t happened to you yet, it WILL – I promise!)

Anyhow, so now I have 3 choices:

  1. Double up on my fish oil supplements and hope it helps,
  2. Watch a few episodes of Sesame Street with “The Count” to refresh my numbers,
  3. … or chalk it up as an honest mistake.

I would chalk it up as an honest mistake – but combined with my growing impatience with people who are writing checks at the register at the supermarket and balancing their checkbook at the same time while the line is getting longer and longer, I’m starting to get concerned about my mental health.

I really should use the “auto-trading” function in PowerX Optimizer more often where I only have to click one button and PowerX Optimizer automatically sends the right order for me to my broker.



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