Gooooooooooood morning!

Another week is here, along with all the exciting and boring aspects that come with it!

Yesterday morning the family and I went to the doctor for checkups and flu shots, so I decided to not trade much at that time.

Hold on. I need coffee.

Ahhhhhhh.... much better.

I'm finding that trading has just as much to do with patience and self control as it does anything else.

One can know patterns, but if one don't have the self control to wait for them, one will waste money until they show up.

One can know about SEC filings and fundamentals, but if one doesn't have patience, they won't be researching either of them... because it is boring.

And it's the same with other areas of life.

One can know McDonalds is unhealthy, but if one doesn't...

...

Well...

...

Never mind.

...

I love my McChickens.

...

...

Yesterday afternoon I saw an Afternoon Fade pattern on $AAPL, so I got in and out with some Option Puts for a nice 27% win. If I would have held it all afternoon, it would have been over 50% profit. But... I was at work and couldn't watch it. *weeping*

Evolved Trader sent out an alert to buy some Option Puts for $HTZ, so I got in on the action. Unfortunately the volatility was very low, and it turned out to be a wash. Including commissions, it'll be a small loss on my profit chart. Evolved Trader held his shares overnight, but I sold all except one at the close. It's gapping up this morning, so I'm glad I didn't hold all of them!

Lessons learned:

1. If there's low volatility on options, just stay out. There's little-to-no profit there, unless the stock moves in an extreme way. Better to leave it and focus on other plays.
2. Heart monitor harnesses are uncomfortable.
3. If you have to work a job and trade, just be patient and conservative in your approach, and you'll start winning more.
4. It is possible to live off of potato chips. It's just a miserable existence.

It's Tuesday... LET'S GO!!